Asia: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Asia

In 2021, the Asian market for forage harvesters and other harvesting machines increased by 4.7% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in Asia

In value terms, production of forage harvesters and other harvesting machines expanded sharply to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 15% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Asia

In 2021, approx. X units of forage harvesters and other harvesting machines were exported in Asia; declining by -54.3% compared with 2020 figures. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 138%. Over the period under review, the exports of reached the maximum at X units in 2020, and then reduced dramatically in the following year.

In value terms, exports of forage harvesters and other harvesting machines dropped rapidly to $X in 2021. Over the period under review, exports, however, showed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 165% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X units) and Turkey (X units) represented roughly 64% of total exports in 2021. Israel (X units) took the next position in the ranking, followed by India (X units). All these countries together took approx. 19% share of total exports. Kazakhstan (X units), Thailand (X units) and Japan (X units) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +30.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest forage harvesters and other harvesting machines supplier in Asia, comprising 39% of total exports. The second position in the ranking was held by Turkey ($X), with a 16% share of total exports. It was followed by Israel, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +13.2%. In the other countries, the average annual rates were as follows: Turkey (+11.6% per year) and Israel (+33.0% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, picking up by 11% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 12%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.1%), while the other leaders experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Asia

In 2021, supplies from abroad of forage harvesters and other harvesting machines decreased by -21% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 91% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of forage harvesters and other harvesting machines declined remarkably to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 98% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China represented the largest importing country with an import of about X units, which resulted at 33% of total imports. Thailand (X units) took the second position in the ranking, followed by Kazakhstan (X units) and Turkey (X units). All these countries together held near 35% share of total imports. Turkmenistan (X units), Iran (X units), Indonesia (X units), Japan (X units), India (X units), Uzbekistan (X units) and Pakistan (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkmenistan (with a CAGR of +49.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in Asia, comprising 39% of total imports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total imports. It was followed by Kazakhstan, with a 9% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -5.4%. In the other countries, the average annual rates were as follows: Thailand (+13.6% per year) and Kazakhstan (+12.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, reducing by -21.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 15% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2020, and then shrank notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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