Global Threshing Machinery Market to Witness Marginal Growth with +1.1% CAGR until 2030, Reaching $16.9B in Value

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The global market for threshing machinery is projected to see an increase in consumption over the next six years, with a forecasted CAGR of +1.1% in volume and +2.8% in value from 2024 to 2030. This growth is expected to bring the market volume to 3.3M units and market value to $16.9B by the end of 2030.

Market Forecast

Driven by rising demand for threshing machinery worldwide, the market is expected to start an upward consumption trend over the next six years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.1% for the period from 2024 to 2030, which is projected to bring the market volume to 3.3M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2030, which is projected to bring the market value to $16.9B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Threshing Machinery Except Combine Harvester-Threshers

In 2024, consumption of threshing machinery except combine harvester-threshers decreased by -2.3% to 3.1M units, falling for the third consecutive year after two years of growth. Overall, consumption saw a pronounced slump. Over the period under review, global consumption hit record highs at 4.3M units in 2014; however, from 2015 to 2024, consumption remained at a lower figure.

The global threshing machinery market value reduced slightly to $14.3B in 2024, dropping by -1.7% 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). In general, consumption recorded a perceptible decrease. Global consumption peaked at $20.1B in 2014; however, from 2015 to 2024, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (482K units), the United States (379K units) and Brazil (286K units), with a combined 37% share of global consumption. Japan, Pakistan, Germany, Bangladesh, France, Turkey and the UK lagged somewhat behind, together accounting for a further 23%.

From 2013 to 2024, the biggest increases were recorded for Japan (with a CAGR of +3.5%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the United States ($2.9B) led the market, alone. The second position in the ranking was taken by Brazil ($1.3B). It was followed by China.

In the United States, the threshing machinery market remained relatively stable over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: Brazil (-3.4% per year) and China (-7.6% per year).

The countries with the highest levels of threshing machinery per capita consumption in 2024 were Japan (1,591 units per million persons), Brazil (1,314 units per million persons) and Germany (1,288 units per million persons).

From 2013 to 2024, the biggest increases were recorded for Japan (with a CAGR of +3.8%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Threshing Machinery Except Combine Harvester-Threshers

In 2024, production of threshing machinery except combine harvester-threshers decreased by -0.8% to 3.3M units, falling for the third year in a row after two years of growth. In general, production continues to indicate a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of 11% against the previous year. Global production peaked at 4.3M units in 2014; however, from 2015 to 2024, production failed to regain momentum.

In value terms, threshing machinery production reached $15.2B in 2024 estimated in export price. Over the period under review, production continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 22%. Over the period under review, global production attained the peak level at $20.2B in 2014; however, from 2015 to 2024, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2024 were China (630K units), the United States (373K units) and Brazil (287K units), with a combined 40% share of global production. Japan, Pakistan, Germany, Bangladesh, France, Turkey and the UK lagged somewhat behind, together comprising a further 22%.

From 2013 to 2024, the biggest increases were recorded for Japan (with a CAGR of +3.6%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Threshing Machinery Except Combine Harvester-Threshers

In 2024, after two years of decline, there was significant growth in overseas purchases of threshing machinery except combine harvester-threshers, when their volume increased by 5.5% to 39K units. Over the period under review, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 33% against the previous year. Global imports peaked at 93K units in 2013; however, from 2014 to 2024, imports failed to regain momentum.

In value terms, threshing machinery imports declined modestly to $206M in 2024. In general, imports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 36%. Global imports peaked at $381M in 2013; however, from 2014 to 2024, imports failed to regain momentum.

Imports By Country

In 2024, the United States (6.4K units), distantly followed by Kazakhstan (3.4K units), Spain (2.2K units), Argentina (2.1K units), Canada (1.9K units) and France (1.8K units) represented the largest importers of threshing machinery except combine harvester-threshers, together generating 46% of total imports. The following importers - Russia (1.6K units), Ghana (1.4K units), Ukraine (1.4K units) and the Netherlands (1K units) - together made up 14% of total imports.

From 2013 to 2024, the biggest increases were recorded for Spain (with a CAGR of +32.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($64M) constitutes the largest market for imported threshing machinery except combine harvester-threshers worldwide, comprising 31% of global imports. The second position in the ranking was held by Kazakhstan ($12M), with a 5.9% share of global imports. It was followed by Argentina, with a 5.1% share.

From 2013 to 2024, the average annual growth rate of value in the United States totaled +27.7%. In the other countries, the average annual rates were as follows: Kazakhstan (+11.7% per year) and Argentina (-13.5% per year).

Import Prices By Country

In 2024, the average threshing machinery import price amounted to $5.3 thousand per unit, waning by -6.2% against the previous year. Over the period under review, import price indicated a measured increase from 2013 to 2024: its price increased at an average annual rate of +2.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, threshing machinery import price increased by +48.7% against 2019 indices. The pace of growth was the most pronounced in 2023 an increase of 29%. As a result, import price attained the peak level of $5.7 thousand per unit, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($9.9 thousand per unit), while Ghana ($986 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Threshing Machinery Except Combine Harvester-Threshers

In 2024, approx. 175K units of threshing machinery except combine harvester-threshers were exported worldwide; picking up by 41% on 2023 figures. Overall, exports showed noticeable growth. The pace of growth was the most pronounced in 2023 with an increase of 53% against the previous year. Over the period under review, the global exports attained the peak figure in 2024 and are expected to retain growth in the immediate term.

In value terms, threshing machinery exports dropped rapidly to $194M in 2024. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 40%. Over the period under review, the global exports hit record highs at $442M in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

Exports By Country

China dominates exports structure, recording 149K units, which was approx. 85% of total exports in 2024. Belarus (6.5K units), the UK (4.1K units) and Turkey (3K units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the threshing machinery except combine harvester-threshers exports, with a CAGR of +53.6% from 2013 to 2024. At the same time, the UK (+31.8%) displayed positive paces of growth. By contrast, Turkey (-5.2%) and Belarus (-19.5%) illustrated a downward trend over the same period. From 2013 to 2024, the share of China and the UK increased by +84 and +2.2 percentage points, respectively.

In value terms, the UK ($35M), Belarus ($27M) and China ($12M) appeared to be the countries with the highest levels of exports in 2024, with a combined 38% share of global exports.

The UK, with a CAGR of +50.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.

Export Prices By Country

In 2024, the average threshing machinery export price amounted to $1.1 thousand per unit, waning by -45.3% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices attained the maximum at $3.9 thousand per unit in 2013; however, from 2014 to 2024, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the UK ($8.6 thousand per unit), while China ($79 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the UK (+14.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform