Crawler Tractor Market

The global crawler tractor market is expected to see an increase in consumption and production over the next eight years, with forecasted growth rates in both volume and value terms. China is the largest consumer and producer of crawler tractors, followed by the United States and India. The United States leads in exports, with the highest export price per unit. Import prices vary among countries, with key players including the United States, Germany, and Italy. Overall, the market is dynamic with different trends in consumption, production, imports, and exports across various countries.

Market Forecast

Driven by rising demand for crawler tractor worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 111K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $23.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Crawler Tractors

In 2022, consumption of crawler tractors decreased by -2.1% to 99K units, falling for the seventh consecutive year after two years of growth. Overall, consumption recorded a mild reduction. As a result, consumption attained the peak volume of 138K units. From 2016 to 2022, the growth of the global consumption failed to regain momentum.

The global crawler tractor market size declined to $17.4B in 2022, waning by -7.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a mild downturn. Over the period under review, the global market hit record highs at $24.9B in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Consumption By Country

China (21K units) remains the largest crawler tractor consuming country worldwide, accounting for 22% of total volume. Moreover, crawler tractor consumption in China exceeded the figures recorded by the second-largest consumer, the United States (9.3K units), twofold. India (9K units) ranked third in terms of total consumption with a 9.1% share.

In China, crawler tractor consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.1% per year) and India (+0.3% per year).

In value terms, the largest crawler tractor markets worldwide were China ($3B), India ($2.4B) and the United States ($2.4B), with a combined 45% share of the global market.

The United States, with a CAGR of +7.7%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of crawler tractor per capita consumption was registered in Saudi Arabia (91 units per million persons), followed by South Korea (36 units per million persons), the United States (28 units per million persons) and the UK (27 units per million persons), while the world average per capita consumption of crawler tractor was estimated at 13 units per million persons.

In Saudi Arabia, crawler tractor per capita consumption expanded at an average annual rate of +3.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (-2.0% per year) and the United States (+5.4% per year).

Production

World Production of Crawler Tractors

Global crawler tractor production reduced modestly to 96K units in 2022, which is down by -3.3% against the year before. Over the period under review, production showed a mild shrinkage. The growth pace was the most rapid in 2015 when the production volume increased by 25%. As a result, production attained the peak volume of 138K units. From 2016 to 2022, global production growth remained at a somewhat lower figure.

In value terms, crawler tractor production fell slightly to $16.7B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22%. As a result, production attained the peak level of $20.7B. From 2016 to 2022, global production growth remained at a lower figure.

Production By Country

China (22K units) constituted the country with the largest volume of crawler tractor production, accounting for 23% of total volume. Moreover, crawler tractor production in China exceeded the figures recorded by the second-largest producer, India (9.2K units), twofold. The third position in this ranking was held by the United States (8.4K units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +1.1%. In the other countries, the average annual rates were as follows: India (+0.5% per year) and the United States (-3.0% per year).

Imports

World Imports of Crawler Tractors

In 2022, the amount of crawler tractors imported worldwide surged to 13K units, picking up by 83% on the previous year. Over the period under review, imports enjoyed moderate growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, crawler tractor imports soared to $1.7B in 2022. Overall, imports, however, recorded a relatively flat trend pattern. Global imports peaked at $1.8B in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

The United States (4.2K units) and Saudi Arabia (2.8K units) represented roughly 55% of total imports in 2022. It was distantly followed by Canada (1K units), committing a 7.9% share of total imports. Australia (357 units), Italy (302 units), Spain (291 units), Germany (288 units), the Netherlands (263 units) and Slovakia (257 units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +79.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($677M) constitutes the largest market for imported crawler tractors worldwide, comprising 40% of global imports. The second position in the ranking was taken by Canada ($220M), with a 13% share of global imports. It was followed by Australia, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +3.6%. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+2.0% per year) and Australia (+5.5% per year).

Import Prices By Country

In 2022, the average crawler tractor import price amounted to $131,120 per unit, shrinking by -29% against the previous year. In general, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 an increase of 108% against the previous year. Global import price peaked at $224,127 per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($232,227 per unit), while Saudi Arabia ($3,186 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Crawler Tractors

Global crawler tractor exports surged to 9.5K units in 2022, jumping by 103% compared with 2021. Overall, exports, however, recorded a perceptible shrinkage. Over the period under review, the global exports reached the peak figure at 13K units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, crawler tractor exports soared to $1.6B in 2022. In general, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. The global exports peaked at $2.7B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

The United States represented the main exporter of crawler tractors in the world, with the volume of exports recording 3.3K units, which was approx. 35% of total exports in 2022. Italy (1,073 units) took the second position in the ranking, followed by Germany (968 units), Thailand (853 units) and China (628 units). All these countries together took approx. 37% share of total exports. Canada (368 units), the Netherlands (299 units), Iran (274 units), India (234 units), Spain (195 units), Sweden (161 units) and France (149 units) held a relatively small share of total exports.

Exports from the United States decreased at an average annual rate of -9.1% from 2012 to 2022. At the same time, China (+47.4%), Sweden (+32.0%), the Netherlands (+30.4%), Spain (+29.2%), India (+27.9%), Thailand (+25.5%), Italy (+15.9%), Germany (+14.6%), France (+7.8%), Iran (+7.7%) and Canada (+3.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +47.4% from 2012-2022. Italy (+9.5 p.p.), Thailand (+8.3 p.p.), Germany (+8.3 p.p.), China (+6.5 p.p.), the Netherlands (+3 p.p.), India (+2.3 p.p.), Spain (+1.9 p.p.), Iran (+1.9 p.p.), Canada (+1.8 p.p.) and Sweden (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -31.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($991M) remains the largest crawler tractor supplier worldwide, comprising 62% of global exports. The second position in the ranking was held by Germany ($187M), with a 12% share of global exports. It was followed by Italy, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled -5.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+3.4% per year) and Italy (+2.4% per year).

Export Prices By Country

In 2022, the average crawler tractor export price amounted to $168,975 per unit, with a decrease of -38.7% against the previous year. Over the period under review, the export price showed a noticeable curtailment. The growth pace was the most rapid in 2016 when the average export price increased by 70% against the previous year. As a result, the export price reached the peak level of $316,985 per unit. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($300,338 per unit), while Thailand ($1,065 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform