Eastern Asia: Combine Harvester Market 2024

Combine Harvester Market Size in Eastern Asia

The East Asian combine harvester market totaled $X in 2022, surging by 3.5% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Combine Harvester Production in Eastern Asia

In value terms, combine harvester production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Combine Harvester Exports

Exports in Eastern Asia

Combine harvester exports shrank to X units in 2022, falling by -10.9% compared with 2021 figures. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.1% against 2018 indices. The pace of growth was the most pronounced in 2019 when exports increased by 34%. The volume of export peaked at X units in 2021, and then reduced in the following year.

In value terms, combine harvester exports fell to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.8% against 2013 indices. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China prevails in exports structure, accounting for X units, which was approx. 94% of total exports in 2022. It was distantly followed by Japan (X units), comprising a 5.3% share of total exports.

China was also the fastest-growing in terms of the combine harvester-threshers exports, with a CAGR of +2.7% from 2012 to 2022. At the same time, Japan (+1.6%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest combine harvester supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Japan ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +4.5%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, increasing by 1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 when the export price increased by 25%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.3%).

Combine Harvester Imports

Imports in Eastern Asia

In 2022, after four years of growth, there was significant decline in supplies from abroad of combine harvester-threshers, when their volume decreased by -9.1% to X units. Overall, imports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, combine harvester imports reduced to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.8% against 2017 indices. The pace of growth was the most pronounced in 2021 when imports increased by 35%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X units) and China (X units) represented roughly 74% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X units) and Japan (X units), together constituting a 25% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +5.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 89% of total imports.

South Korea, with a CAGR of +7.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Asia stood at $X per unit in 2022, increasing by 3.8% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, combine harvester import price increased by +26.9% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per unit) and Japan ($X per unit), while China ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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