Croatia: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Croatia

The Croatian market for forage harvesters and other harvesting machines contracted markedly to $X in 2021, waning by -19.4% against the previous year. Over the period under review, consumption recorded a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in Croatia

In value terms, production of forage harvesters and other harvesting machines soared to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt descent. The growth pace was the most rapid in 2017 when the production volume increased by 88% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Croatia

In 2021, overseas shipments of forage harvesters and other harvesting machines were finally on the rise to reach X units after two years of decline. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 210% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 331% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Poland (X units) was the main destination for exports of forage harvesters and other harvesting machines from Croatia, accounting for a 28% share of total exports. Moreover, exports of forage harvesters and other harvesting machines to Poland exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), twofold. Denmark (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Poland stood at +85.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-2.0% per year) and Denmark (0.0% per year).

In value terms, Poland ($X) emerged as the key foreign market for forage harvesters and other harvesting machines exports from Croatia, comprising 31% of total exports. The second position in the ranking was taken by Denmark ($X), with a 9.9% share of total exports. It was followed by Hungary, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Poland totaled +57.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and Hungary (+28.6% per year).

Export Prices by Country

The average export price for forage harvesters and other harvesting machines stood at $X per unit in 2021, picking up by 2.8% against the previous year. Over the period under review, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 481%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Serbia (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Croatia

In 2021, purchases abroad of forage harvesters and other harvesting machines increased by 0.6% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 16%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of forage harvesters and other harvesting machines shrank to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hungary (X units) constituted the largest forage harvesters and other harvesting machines supplier to Croatia, accounting for a 39% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Hungary exceeded the figures recorded by the second-largest supplier, Slovakia (X units), threefold. Slovenia (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary amounted to -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+23.8% per year) and Slovenia (+30.5% per year).

In value terms, the largest forage harvesters and other harvesting machines suppliers to Croatia were Hungary ($X), Germany ($X) and Slovakia ($X), with a combined 58% share of total imports. These countries were followed by Slovenia, Italy, Austria, France and Serbia, which together accounted for a further 38%.

France, with a CAGR of +49.6%, saw 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

The average import price for forage harvesters and other harvesting machines stood at $X per unit in 2021, declining by -6.7% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for forage harvesters and other harvesting machines increased by +33.8% against 2014 indices. The growth pace was the most rapid in 2017 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2020, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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