Italy: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Italy

The Italian hay-making machinery market shrank remarkably to $X in 2021, with a decrease of -23.9% against the previous year. In general, consumption showed a abrupt setback. Hay-making machinery consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Hay-Making Machinery Production in Italy

In value terms, hay-making machinery production rose modestly to $X in 2021 estimated in export price. In general, production recorded a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 84%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Hay-Making Machinery Exports

Exports from Italy

In 2021, the amount of hay-making machinery exported from Italy skyrocketed to X units, jumping by 23% against 2020 figures. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hay-making machinery exports soared to $X in 2021. The total export value increased at an average annual rate of +5.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for hay-making machinery exports from Italy, accounting for a 58% share of total exports. Moreover, hay-making machinery exports to the United States exceeded the volume sent to the second major destination, Canada (X units), tenfold. The third position in this ranking was held by France (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+16.5% per year) and France (-10.3% per year).

In value terms, the United States ($X) remains the key foreign market for hay-making machinery exports from Italy, comprising 52% of total exports. The second position in the ranking was held by France ($X), with a 5.8% share of total exports. It was followed by Canada, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-6.1% per year) and Canada (+14.5% per year).

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, approximately mirroring the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 an increase of 10% against the previous year. As a result, the export price attained the peak level of $X per unit, leveling off in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to South Africa ($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 France (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Italy

Hay-making machinery imports into Italy stood at X units in 2021, picking up by 3% compared with 2020. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 65%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hay-making machinery imports expanded sharply to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value 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, imports increased by +104.6% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 32%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X units), France (X units) and Austria (X units) were the main suppliers of hay-making machinery imports to Italy, together comprising 80% of total imports. These countries were followed by Poland, Slovenia, the Netherlands, the Czech Republic and Denmark, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +71.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hay-making machinery suppliers to Italy were Germany ($X), France ($X) and Austria ($X), with a combined 79% share of total imports. These countries were followed by Poland, Slovenia, the Netherlands, the Czech Republic and Denmark, which together accounted for a further 16%.

Poland, with a CAGR of +74.0%, saw the highest rates of growth with regard to the value of imports, among 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 hay-making machinery import price stood at $X per unit in 2021, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2018 an increase of 41% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 the Netherlands ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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