Asia-Pacific: Hay-Making Machinery Market 2025

Hay-Making Machinery Market Size in Asia-Pacific

The Asia-Pacific hay-making machinery market amounted to $X in 2021, standing approx. at the previous year. Over the period under review, consumption, however, saw a mild contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Hay-Making Machinery Production in Asia-Pacific

In value terms, hay-making machinery production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 5.6%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Hay-Making Machinery Exports

Exports in Asia-Pacific

In 2021, shipments abroad of hay-making machinery increased by 42% to X units, rising for the fifth year in a row after two years of decline. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 72%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, hay-making machinery exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 63%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 96% of total exports in 2021. India (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hay-making machinery exports from China stood at +32.0%. At the same time, India (+39.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +39.0% from 2012-2021. From 2012 to 2021, the share of China increased by +27 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hay-making machinery supplier in Asia-Pacific, comprising 92% of total exports. The second position in the ranking was held by India ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China amounted to +20.0%.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, approximately reflecting the previous year. In general, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2014 when the export price increased by 9.6% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.3%).

Hay-Making Machinery Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in supplies from abroad of hay-making machinery, which increased by 45% to X units in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +10.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.4% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hay-making machinery imports soared to $X in 2021. In general, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Australia (X units) represented the key importer of hay-making machinery, generating 42% of total imports. Japan (X units) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by New Zealand (15%), China (7.2%) and South Korea (6.8%). The following importers - Thailand (X units) and Bangladesh (X units) - each amounted to a 7.4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to hay-making machinery imports into Australia stood at +18.9%. At the same time, Bangladesh (+57.1%), Thailand (+52.5%), South Korea (+10.5%), Japan (+8.3%) and China (+7.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +57.1% from 2012-2021. New Zealand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Australia, Thailand and Bangladesh increased by +20, +3.5 and +3.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported hay-making machinery in Asia-Pacific, comprising 42% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by New Zealand, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +18.2%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+9.4% per year) and New Zealand (+1.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, approximately mirroring the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 25%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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