Japan: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Japan

The Japanese agricultural forestry machinery market fell modestly to $X in 2022, remaining stable against the previous year. Overall, consumption saw a noticeable decline. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Agricultural Forestry Machinery Production in Japan

In value terms, agricultural forestry machinery production amounted to $X in 2022 estimated in export price. In general, production recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 42%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Japan

In 2022, overseas shipments of agricultural forestry machinery (lawn or sportsground rollers) increased by 8.3% to X units, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, agricultural forestry machinery exports rose markedly to $X in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 31%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X units) was the main destination for agricultural forestry machinery exports from Japan, with a 55% share of total exports. Moreover, agricultural forestry machinery exports to Vietnam exceeded the volume sent to the second major destination, the United States (X units), ninefold. South Korea (X units) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.3% per year) and South Korea (+13.0% per year).

In value terms, South Korea ($X), the United States ($X) and Vietnam ($X) constituted the largest markets for agricultural forestry machinery exported from Japan worldwide, together comprising 50% of total exports. France, Belgium, Italy, Taiwan (Chinese), Sri Lanka, Thailand, the Philippines, Lithuania and Cambodia lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Belgium, with a CAGR of +24.0%, recorded the highest growth rate of 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 average agricultural forestry machinery export price stood at $X per unit in 2022, shrinking by -2.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 23%. The export price peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+4.1%), while the prices for the other major destinations experienced a decline.

Agricultural Forestry Machinery Imports

Imports into Japan

In 2022, the amount of agricultural forestry machinery (lawn or sportsground rollers) imported into Japan rose remarkably to X units, with an increase of 15% against 2021. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +8.5% 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 +121.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 48% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, agricultural forestry machinery imports skyrocketed to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +86.7% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Denmark (X units), Italy (X units) and China (X units) were the main suppliers of agricultural forestry machinery imports to Japan, together comprising 67% of total imports. Germany, Poland, the United States, the Netherlands, France, Spain, Belgium and Canada lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +568.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural forestry machinery suppliers to Japan were China ($X), Italy ($X) and Denmark ($X), together accounting for 50% of total imports. These countries were followed by the United States, Germany, the Netherlands, Spain, Poland, France, Belgium and Canada, which together accounted for a further 40%.

Belgium, with a CAGR of +89.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average agricultural forestry machinery import price amounted to $X per unit, growing by 2.1% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2014 when the average import price increased by 13%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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