Eastern Europe: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Eastern Europe

In 2021, the East European market for forage harvesters and other harvesting machines increased by 36% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Forage Harvesters and Other Harvesting Machines in Eastern Europe

In value terms, production of forage harvesters and other harvesting machines fell dramatically to $X in 2021 estimated in export price. In general, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Eastern Europe

In 2021, overseas shipments of forage harvesters and other harvesting machines increased by 26% to X units, rising for the third consecutive year after two years of decline. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 37%. The volume of export peaked at X units in 2013; however, from 2014 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. Over the period under review, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belarus (X units) and Russia (X units) represented roughly 58% of total exports in 2021. It was distantly followed by Poland (X units) and Hungary (X units), together generating a 29% share of total exports. The following exporters - Bulgaria (X units), Ukraine (X units) and Lithuania (X units) - each accounted for an 8.5% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +18.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines supplying countries in Eastern Europe were Belarus ($X), Hungary ($X) and Poland ($X), together accounting for 68% of total exports.

In terms of the main exporting countries, Poland, with a CAGR of +17.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2021, picking up by 1.6% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 23% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Eastern Europe

In 2021, purchases abroad of forage harvesters and other harvesting machines increased by 72% to X units, rising for the second year in a row after two years of decline. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2021. In general, imports posted moderate growth. The pace of growth appeared the most rapid in 2017 when imports increased by 64% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

Russia prevails in machines structure, accounting for X units, which was approx. 64% of total imports in 2021. Ukraine (X units) took a 6.4% share (based on physical terms) of total imports, which put it in second place, followed by Poland (6.4%). Slovakia (X units), Hungary (X units), Romania (X units), Belarus (X units), Moldova (X units), the Czech Republic (X units), Bulgaria (X units) and Lithuania (X units) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of +8.8% from 2012 to 2021. At the same time, Moldova (+27.7%), Slovakia (+17.7%), Lithuania (+8.4%), Hungary (+7.2%), Poland (+5.7%), Belarus (+2.8%) and Romania (+1.8%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +27.7% from 2012-2021. Bulgaria experienced a relatively flat trend pattern. By contrast, Ukraine (-2.0%) and the Czech Republic (-2.4%) illustrated a downward trend over the same period. While the share of Russia (+10 p.p.), Slovakia (+2.6 p.p.) and Moldova (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bulgaria (-1.6 p.p.), Romania (-1.8 p.p.), the Czech Republic (-2.8 p.p.) and Ukraine (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in Eastern Europe, comprising 48% of total imports. The second position in the ranking was taken by Poland ($X), with an 8.2% share of total imports. It was followed by Ukraine, with a 7.4% share.

In Russia, imports of forage harvesters and other harvesting machines expanded at an average annual rate of +5.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+4.5% per year) and Ukraine (-3.1% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2021, waning by -10.7% against the previous year. In general, the import price continues to indicate a perceptible reduction. The growth pace was the most rapid in 2018 when the import price increased by 8.6%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :