Benelux: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Benelux

The Benelux market for forage harvesters and other harvesting machines dropped to $X in 2021, with a decrease of -9.1% against the previous year. Overall, consumption, however, continues to indicate a mild contraction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Forage Harvesters and Other Harvesting Machines in Benelux

In value terms, production of forage harvesters and other harvesting machines expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild descent. The pace of growth was the most pronounced in 2016 when the production volume increased by 33%. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Benelux

For the third year in a row, Benelux recorded growth in shipments abroad of forage harvesters and other harvesting machines, which increased by 53% to X units in 2021. Overall, exports, however, saw a mild descent. The growth pace was the most rapid in 2013 when exports increased by 57% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of forage harvesters and other harvesting machines soared to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.8% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium (X units) and the Netherlands (X units) dominates machines structure, together committing 98% of total exports. Luxembourg (X units) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Luxembourg (with a CAGR of +17.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Belgium ($X) remains the largest forage harvesters and other harvesting machines supplier in Benelux, comprising 67% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Belgium amounted to +4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+8.3% per year) and Luxembourg (+16.2% per year).

Export Prices by Country

The export price in Benelux stood at $X per unit in 2021, which is down by -2.4% against the previous year. Overall, the export price, however, showed a resilient increase. The pace of growth was the most pronounced in 2015 an increase of 80% against the previous year. The level of export peaked at $X per unit in 2020, and then dropped in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Benelux

In 2021, imports of forage harvesters and other harvesting machines in Benelux surged to X units, increasing by 74% compared with the year before. In general, imports enjoyed slight growth. The pace of growth was the most pronounced in 2013 with an increase of 477%. Over the period under review, imports of reached the maximum at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 84%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

The Netherlands was the main importing country with an import of around X units, which finished at 74% of total imports. It was distantly followed by Belgium (X units), mixing up a 22% share of total imports. Luxembourg (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to forage harvesters and other harvesting machines imports into the Netherlands stood at +1.5%. At the same time, Luxembourg (+4.9%) and Belgium (+1.8%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of +4.9% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X), Belgium ($X) and Luxembourg ($X) appeared to be the countries with the highest levels of imports in 2021.

In terms of the main importing countries, the Netherlands, with a CAGR of +7.8%, recorded the highest growth rate of the value of imports, 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 Benelux stood at $X per unit in 2021, which is down by -11.5% against the previous year. Overall, the import price, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 an increase of 1,865% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform