Canada: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Canada

In 2021, after two years of decline, there was significant growth in the Canadian market for forage harvesters and other harvesting machines, when its value increased by 37% to $X. In general, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in Canada

In value terms, production of forage harvesters and other harvesting machines soared to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 195% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Canada

In 2021, exports of forage harvesters and other harvesting machines from Canada amounted to X units, growing by 4.7% against 2020 figures. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 481% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of forage harvesters and other harvesting machines soared to $X in 2021. Overall, exports, however, saw a deep reduction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of forage harvesters and other harvesting machines from Canada, accounting for a 71% share of total exports. Moreover, exports of forage harvesters and other harvesting machines to the United States exceeded the volume sent to the second major destination, Australia (X units), sixfold. The third position in this ranking was taken by the Netherlands (X units), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-6.1% per year) and the Netherlands (+7.1% per year).

In value terms, the United States ($X) remains the key foreign market for forage harvesters and other harvesting machines exports from Canada, comprising 71% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by the Netherlands, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-4.1% per year) and the Netherlands (+9.3% per year).

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, with an increase of 14% against the previous year. Over the period under review, the export price continues to indicate moderate growth. The most prominent rate of growth was recorded in 2015 an increase of 522%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were South Africa ($X per unit) and Kazakhstan ($X per unit), while the average price for exports to Australia ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Canada

In 2021, purchases abroad of forage harvesters and other harvesting machines was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of forage harvesters and other harvesting machines surged to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of imports of forage harvesters and other harvesting machines to Canada, with a combined 85% share of total imports. France, Italy and Belgium lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +32.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines suppliers to Canada were Germany ($X), the United States ($X) and the Netherlands ($X), with a combined 85% share of total imports. France, Italy and Belgium lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Italy, with a CAGR of +31.2%, 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

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, surging by 5.2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 6.4% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Belgium ($X per unit) and France ($X per unit), while the price for Germany ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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