Canada: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Canada

In 2021, the Canadian hay-making machinery market increased by 20% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, showed a slight shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hay-Making Machinery Production in Canada

In value terms, hay-making machinery production expanded to $X in 2021 estimated in export price. Overall, production recorded a slight expansion. The growth pace was the most rapid in 2019 with an increase of 297%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Hay-Making Machinery Exports

Exports from Canada

Hay-making machinery exports from Canada soared to X units in 2021, increasing by 21% on the previous year. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 89%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, hay-making machinery exports skyrocketed to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 90% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for hay-making machinery exports from Canada, accounting for a 57% share of total exports. Moreover, hay-making machinery exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), twofold. Denmark (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+42.5% per year) and Denmark (+146.6% per year).

In value terms, the United States ($X) remains the key foreign market for hay-making machinery exports from Canada, comprising 57% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 28% share of total exports. It was followed by Denmark, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+199.5% per year) and Denmark (+157.9% per year).

Export Prices by Country

In 2021, the average hay-making machinery export price amounted to $X per unit, picking up by 8.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 12%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Russia ($X per unit) and Australia ($X per unit), while the average price for exports to the United States ($X per unit) and the United Arab Emirates ($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 Denmark (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Canada

In 2021, imports of hay-making machinery into Canada soared to X units, increasing by 31% compared with the year before. In general, imports, however, showed a deep contraction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hay-making machinery imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt decline. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of hay-making machinery to Canada, accounting for a 43% share of total imports. Moreover, hay-making machinery imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Italy (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.6% per year) and Italy (+8.4% per year).

In value terms, the United States ($X) constituted the largest supplier of hay-making machinery to Canada, comprising 43% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and Italy (+8.6% per year).

Import Prices by Country

In 2021, the average hay-making machinery import price amounted to $X per unit, picking up by 3.8% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 4.6%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Denmark ($X per unit) and the Czech Republic ($X per unit), while the price for Italy ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+0.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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