Belgium: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Belgium

The Belgian agricultural forestry machinery market contracted to $X in 2022, reducing by -5.4% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.9% against 2020 indices. Agricultural forestry machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Belgium

In value terms, agricultural forestry machinery production contracted modestly to $X in 2022 estimated in export price. In general, production continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 25%. Agricultural forestry machinery production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Belgium

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were exported from Belgium; shrinking by -2.3% against 2021 figures. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, agricultural forestry machinery exports dropped to $X in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 37% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

The Netherlands (X units), France (X units) and Germany (X units) were the main destinations of agricultural forestry machinery exports from Belgium, together accounting for 65% of total exports. The United States, Hungary, Poland, the UK, Denmark, Brazil, Australia, Senegal, Austria and Luxembourg lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +57.3%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Belgium, comprising 36% of total exports. The second position in the ranking was taken by France ($X), with a 16% share of total exports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1.9% per year) and Germany (+7.0% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, waning by -2.8% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, agricultural forestry machinery export price increased by +3.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 63% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per unit), while the average price for exports to Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Belgium

In 2022, supplies from abroad of agricultural forestry machinery (lawn or sportsground rollers) decreased by -13% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a perceptible downturn. The growth pace was the most rapid in 2021 with an increase of 21%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, agricultural forestry machinery imports shrank modestly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

The Netherlands (X units), Germany (X units) and Italy (X units) were the main suppliers of agricultural forestry machinery imports to Belgium, with a combined 55% share of total imports. These countries were followed by China, France, India, Japan and the United States, which together accounted for a further 35%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +30.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Italy ($X) and the Netherlands ($X) appeared to be the largest agricultural forestry machinery suppliers to Belgium, with a combined 64% share of total imports. France, China, Japan, the United States and India lagged somewhat behind, together comprising a further 20%.

India, with a CAGR of +37.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average import price increased by 17%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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