Asia: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Asia

The Asian agricultural forestry machinery market rose sharply to $X in 2022, picking up by 5.4% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.1% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Asia

In value terms, agricultural forestry machinery production expanded modestly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 28%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports in Asia

Agricultural forestry machinery exports expanded sharply to X units in 2022, surging by 14% compared with the previous year's figure. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by 65% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, agricultural forestry machinery exports reduced to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, China (X units) represented the main exporter of agricultural forestry machinery (lawn or sportsground rollers), comprising 67% of total exports. India (X units) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Japan (9.2%). Turkey (X units), Thailand (X units) and South Korea (X units) held a minor share of total exports.

Exports from China increased at an average annual rate of +23.8% from 2012 to 2022. At the same time, Thailand (+27.1%), India (+24.8%), Turkey (+9.8%) and Japan (+1.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +27.1% from 2012-2022. By contrast, South Korea (-8.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, India and Thailand increased by +38, +8.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural forestry machinery supplying countries in Asia were China ($X), India ($X) and Japan ($X), together comprising 86% of total exports.

Among the main exporting countries, India, with a CAGR of +24.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, waning by -19.5% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the export price increased by 2.8% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.5%), while the other leaders experienced a decline in the export price figures.

Agricultural Forestry Machinery Imports

Imports in Asia

In 2022, the amount of agricultural forestry machinery (lawn or sportsground rollers) imported in Asia fell slightly to X units, remaining stable against 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 36%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, agricultural forestry machinery imports reached $X in 2022. Overall, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 16%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X units), Japan (X units), Indonesia (X units), Singapore (X units), Kazakhstan (X units), Bangladesh (X units), South Korea (X units), Uzbekistan (X units), Georgia (X units), Turkmenistan (X units), Malaysia (X units) and Israel (X units) represented the main importer of agricultural forestry machinery (lawn or sportsground rollers) in Asia, achieving 79% of total import. Thailand (X units) held 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 Uzbekistan (with a CAGR of +111.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 37% of total imports. These countries were followed by India, South Korea, Bangladesh, Uzbekistan, Kazakhstan, Malaysia, Turkmenistan, Israel, Georgia and Thailand, which together accounted for a further 41%.

Uzbekistan, with a CAGR of +119.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, surging by 3.4% against the previous year. Over the period under review, the import price, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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