India: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in India

In 2021, the Indian hay-making machinery market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Hay-Making Machinery Production in India

In value terms, hay-making machinery production reached $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 11%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Hay-Making Machinery Exports

Exports from India

Hay-making machinery exports from India soared to X units in 2021, picking up by 100% compared with the previous year's figure. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 950%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, hay-making machinery exports surged to $X in 2021. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2019 with an increase of 891%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units), Nepal (X units) and Albania (X units) were the main destinations of hay-making machinery exports from India, with a combined 52% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Albania (with a CAGR of +43.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Nepal ($X) and Albania ($X) constituted the largest markets for hay-making machinery exported from India worldwide, with a combined 52% share of total exports.

Belgium, with a CAGR of +80,064.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, rising by 7.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Turkey ($X per unit), while the average price for exports to Greece ($X per unit) and Slovenia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into India

In 2021, the amount of hay-making machinery imported into India skyrocketed to X units, increasing by 33% on the previous year. Over the period under review, imports saw a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 600% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, hay-making machinery imports soared to $X in 2021. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 541%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of hay-making machinery imports to India, with a combined 90% share of total imports. These countries were followed by Turkey and Japan, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +62.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Germany ($X) constituted the largest hay-making machinery suppliers to India, together accounting for 88% of total imports. These countries were followed by Turkey and Japan, which together accounted for a further 11%.

In terms of the main suppliers, Turkey, with a CAGR of +84.4%, 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, growing by 3.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per unit) and Turkey ($X per unit), while the price for China ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :