Northern America: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Northern America

The North American market for forage harvesters and other harvesting machines was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Forage Harvesters and Other Harvesting Machines in Northern America

In value terms, production of forage harvesters and other harvesting machines surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Northern America

In 2021, overseas shipments of forage harvesters and other harvesting machines increased by 30% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 89%. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 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, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 27%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States was the key exporting country with an export of about X units, which recorded 86% of total exports. It was distantly followed by Canada (X units), achieving a 14% share of total exports.

The United States was also the fastest-growing in terms of the forage harvesters and other harvesting machines exports, with a CAGR of -5.0% from 2012 to 2021. Canada (-6.9%) illustrated a downward trend over the same period. While the share of the United States (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Canada (-2.4 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest forage harvesters and other harvesting machines supplier in Northern America, comprising 76% of total exports. The second position in the ranking was held by Canada ($X), with a 24% share of total exports.

In the United States, exports of forage harvesters and other harvesting machines decreased by an average annual rate of -10.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, dropping by -9.2% against the previous year. Overall, the export price showed a pronounced contraction. The growth pace was the most rapid in 2015 when the export price increased by 47%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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 Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.1%).

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Northern America

In 2021, after two years of growth, there was significant decline in overseas purchases of forage harvesters and other harvesting machines, when their volume decreased by -12.9% to X units. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 45%. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 32%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United States represented the main importer of forage harvesters and other harvesting machines in Northern America, with the volume of imports recording X units, which was near 79% of total imports in 2021. It was distantly followed by Canada (X units), mixing up a 21% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to forage harvesters and other harvesting machines imports into the United States stood at +2.7%. At the same time, Canada (+5.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +5.7% from 2012-2021. Canada (+4 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -4% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in Northern America, comprising 79% of total imports. The second position in the ranking was held by Canada ($X), with a 21% share of total imports.

In the United States, imports of forage harvesters and other harvesting machines increased at an average annual rate of +2.5% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2021, picking up by 42% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-0.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :