China: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in China

The Chinese hay-making machinery market reached $X in 2021, approximately reflecting the previous year. In general, consumption, however, recorded a pronounced reduction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Hay-Making Machinery Production in China

In value terms, hay-making machinery production stood at $X in 2021 estimated in export price. In general, production, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.8% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Hay-Making Machinery Exports

Exports from China

Hay-making machinery exports from China soared to X units in 2021, rising by 45% compared with the previous year. Overall, exports posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 102% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, hay-making machinery exports soared to $X in 2021. In general, exports posted a significant expansion. The growth pace was the most rapid in 2014 with an increase of 69%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X units) was the main destination for hay-making machinery exports from China, with a 20% share of total exports. Moreover, hay-making machinery exports to Thailand exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was held by Uzbekistan (X units), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand amounted to +118.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+36.4% per year) and Uzbekistan (+86.8% per year).

In value terms, Thailand ($X) remains the key foreign market for hay-making machinery exports from China, comprising 23% of total exports. The second position in the ranking was taken by India ($X), with a 9.4% share of total exports. It was followed by the UK, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +111.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+27.6% per year) and the UK (+44.8% per year).

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, with an increase of 2.3% against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 10% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Belarus ($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 the UK (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.

Hay-Making Machinery Imports

Imports into China

In 2021, hay-making machinery imports into China surged to X units, jumping by 42% against 2020. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 203%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hay-making machinery imports surged to $X in 2021. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 205% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X units), Italy (X units) and Denmark (X units) were the main suppliers of hay-making machinery imports to China, with a combined 56% share of total imports. The United States, Poland, Canada, Germany and Austria lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +65.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hay-making machinery suppliers to China were Canada ($X), the United States ($X) and Denmark ($X), together comprising 70% of total imports. These countries were followed by France, Italy, Poland, Germany and Austria, which together accounted for a further 28%.

Among the main suppliers, Poland, with a CAGR of +47.0%, recorded the highest rates of growth with regard to 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 hay-making machinery import price amounted to $X per unit, surging by 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+19.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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