Belgium: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Belgium

The Belgian agricultural appliance market rose sharply to $X in 2021, increasing by 15% against the previous year. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.5% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Agricultural Appliance Production in Belgium

In value terms, agricultural appliance production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 4,516%. Agricultural appliance production peaked at $X in 2020, and then shrank slightly in the following year.

Agricultural Appliance Exports

Exports from Belgium

Agricultural appliance exports from Belgium was estimated at X units in 2021, remaining relatively unchanged against 2020. Overall, exports continue to indicate a modest increase. The most prominent rate of growth was recorded in 2020 when exports increased by 155%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, agricultural appliance exports soared to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 189%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), the Netherlands (X units) and Spain (X units) were the main destinations of agricultural appliance exports from Belgium, together comprising 58% of total exports. These countries were followed by Italy, Germany, Portugal, the United States, Zambia, the Czech Republic, Canada, South Korea and Chile, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +56.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural appliance exported from Belgium were France ($X), the Netherlands ($X) and Germany ($X), together accounting for 46% of total exports. Spain, Italy, the United States, Canada, South Korea, the Czech Republic, Portugal, Zambia and Chile lagged somewhat behind, together accounting for a further 30%.

The United States, with a CAGR of +52.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, rising by 15% against the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 42%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Zambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Appliance Imports

Imports into Belgium

In 2021, agricultural appliance imports into Belgium amounted to X units, increasing by 15% compared with the year before. Overall, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2020 when imports increased by 53%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, agricultural appliance imports stood at $X in 2021. In general, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 38% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and the Netherlands (X units) were the main suppliers of agricultural appliance imports to Belgium, together accounting for 72% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +10.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and Mexico ($X) were the largest agricultural appliance suppliers to Belgium, with a combined 59% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +8.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average agricultural appliance import price amounted to $X per unit, declining by -9.9% against the previous year. In general, the import price continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2013 when the average import price increased by 33% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform