Japan: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Japan

In 2021, the Japanese hay-making machinery market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +10.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Hay-making machinery consumption peaked in 2021 and is likely to see gradual growth in the near future.

Hay-Making Machinery Exports

Exports from Japan

In 2021, shipments abroad of hay-making machinery decreased by -27.3% to X units, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 350%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hay-making machinery exports declined dramatically to $X in 2021. In general, exports faced a deep reduction. The growth pace was the most rapid in 2018 when exports increased by 317%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X units) was the main destination for hay-making machinery exports from Japan, accounting for a 38% share of total exports. Moreover, hay-making machinery exports to Russia exceeded the volume sent to the second major destination, the United States (X units), threefold. New Zealand (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.9% per year) and New Zealand (+41.4% per year).

In value terms, the largest markets for hay-making machinery exported from Japan were New Zealand ($X), the United States ($X) and India ($X), together accounting for 52% of total exports. The UK, Russia, Hungary, Spain and Canada lagged somewhat behind, together comprising a further 25%.

Russia, with a CAGR of +19.1%, recorded the highest growth rate of 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, waning by -12% against the previous year. Overall, the export price recorded a deep setback. The growth pace was the most rapid in 2017 an increase of 13% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Spain ($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 the UK (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Japan

In 2021, purchases abroad of hay-making machinery was finally on the rise to reach X units after two years of decline. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 85%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, hay-making machinery imports surged to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 93% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, France (X units) constituted the largest hay-making machinery supplier to Japan, with a 56% share of total imports. Moreover, hay-making machinery imports from France exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Austria (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.8% per year) and Austria (+77.7% per year).

In value terms, France ($X) constituted the largest supplier of hay-making machinery to Japan, comprising 57% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Austria, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and Austria (+76.3% per year).

Import Prices by Country

The average hay-making machinery import price stood at $X per unit in 2021, increasing by 6.6% against the previous year. Overall, the import price saw a modest increase. The pace of growth appeared the most rapid in 2018 an increase of 10% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the Netherlands ($X per unit) and Denmark ($X per unit), while the price for Austria ($X per unit) and the Czech Republic ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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