Eastern Asia: Hay-Making Machinery Market 2025

Hay-Making Machinery Market Size in Eastern Asia

In 2021, after three years of decline, there was growth in the East Asian hay-making machinery market, when its value increased by 1.8% to $X. Over the period under review, consumption, however, saw a perceptible decline. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Hay-Making Machinery Production in Eastern Asia

In value terms, hay-making machinery production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2014 with an increase of 7.4% 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 in Eastern Asia

In 2021, hay-making machinery exports in Eastern Asia surged to X units, rising by 44% compared with the previous year. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 95%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, hay-making machinery exports surged to $X in 2021. Overall, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 56% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, China (X units) was the largest exporter of hay-making machinery in Eastern Asia, committing 99% of total export.

China was also the fastest-growing in terms of the hay-making machinery exports, with a CAGR of +32.0% from 2012 to 2021. From 2012 to 2021, the share of China increased by +15 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest hay-making machinery supplier in Eastern Asia.

In China, hay-making machinery exports increased at an average annual rate of +20.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 7.1% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -9.1% per year.

Hay-Making Machinery Imports

Imports in Eastern Asia

Hay-making machinery imports skyrocketed to X units in 2021, growing by 40% compared with 2020. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.1% against 2016 indices. The growth pace was the most rapid in 2013 when imports increased by 104%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, hay-making machinery imports skyrocketed to $X in 2021. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 110% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Japan was the largest importing country with an import of about X units, which finished at 54% of total imports. China (X units) held the second position in the ranking, followed by South Korea (X units). All these countries together took near 46% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to hay-making machinery imports into Japan stood at +8.3%. At the same time, South Korea (+10.5%) and China (+7.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +10.5% from 2012-2021. South Korea (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported hay-making machinery in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by China ($X), with a 26% share of total imports.

In Japan, hay-making machinery imports expanded at an average annual rate of +9.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+10.1% per year) and South Korea (+11.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, with an increase of 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2016 when the import price increased by 28% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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