Scandinavia: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Scandinavia

In 2021, the Scandinavia market for forage harvesters and other harvesting machines increased by 64% to $X, rising for the second year in a row after three years of decline. Overall, consumption continues to indicate pronounced growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Forage Harvesters and Other Harvesting Machines in Scandinavia

In value terms, production of forage harvesters and other harvesting machines declined modestly to $X in 2021 estimated in export price. Overall, production recorded a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 223%. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth remained at a somewhat lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Scandinavia

In 2021, exports of forage harvesters and other harvesting machines in Scandinavia shrank significantly to X units, which is down by -56.5% against 2020. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 108%. Over the period under review, the exports of attained the maximum at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of forage harvesters and other harvesting machines fell sharply to $X in 2021. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 140% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

Sweden represented the key exporter of forage harvesters and other harvesting machines in Scandinavia, with the volume of exports accounting for X units, which was near 74% of total exports in 2021. Norway (X units) ranks second in terms of the total exports with a 17% share, followed by Finland (8.5%).

From 2012 to 2021, average annual rates of growth with regard to forage harvesters and other harvesting machines exports from Sweden stood at -5.5%. At the same time, Finland (+8.0%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.0% from 2012-2021. By contrast, Norway (-9.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Finland increased by +6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest forage harvesters and other harvesting machines supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was taken by Norway ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to -8.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (-5.2% per year) and Finland (+9.4% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, falling by -9.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 69%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020, and then contracted in the following year.

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 Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Scandinavia

Imports of forage harvesters and other harvesting machines rose slightly to X units in 2021, increasing by 3.1% against 2020. Over the period under review, imports, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of forage harvesters and other harvesting machines surged to $X in 2021. Overall, imports recorded a temperate increase. The pace of growth appeared the most rapid in 2016 when imports increased by 55% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X units) represented the largest importer of forage harvesters and other harvesting machines, constituting 47% of total imports. It was distantly followed by Finland (X units) and Norway (X units), together committing a 53% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +2.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X), Finland ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2021.

Norway, with a CAGR of +5.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2021, surging by 36% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform