Spain: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Spain

The Spanish hay-making machinery market declined modestly to $X in 2021, dropping by -3.4% against the previous year. Overall, consumption, however, continues to indicate a abrupt downturn. Hay-making machinery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hay-Making Machinery Production in Spain

In value terms, hay-making machinery production fell to $X in 2021 estimated in export price. In general, production, however, saw a abrupt slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 15%. Hay-making machinery production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hay-Making Machinery Exports

Exports from Spain

In 2021, overseas shipments of hay-making machinery increased by 16% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 170% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, hay-making machinery exports declined dramatically to $X in 2021. Overall, exports recorded buoyant growth. The growth pace was the most rapid in 2020 when exports increased by 230%. As a result, the exports attained the peak of $X, and then fell markedly in the following year.

Exports by Country

Morocco (X units), Portugal (X units) and the United States (X units) were the main destinations of hay-making machinery exports from Spain, together comprising 90% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +54.8%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for hay-making machinery exports from Spain, comprising 62% of total exports. The second position in the ranking was taken by Uruguay ($X), with an 8.4% share of total exports. It was followed by Morocco, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Portugal totaled +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (0.0% per year) and Morocco (+49.8% per year).

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, declining by -31.6% against the previous year. Overall, the export price continues to indicate a noticeable setback. The growth pace was the most rapid in 2018 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Uruguay ($X per unit), while the average price for exports to Mali ($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 Germany (+47.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Spain

In 2021, overseas purchases of hay-making machinery were finally on the rise to reach X units after two years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, hay-making machinery imports surged to $X in 2021. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), France (X units) and Italy (X units) were the main suppliers of hay-making machinery imports to Spain, with a combined 77% share of total imports. These countries were followed by Austria, the United States and the Czech Republic, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +25.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hay-making machinery suppliers to Spain were Germany ($X), France ($X) and Italy ($X), with a combined 75% share of total imports. These countries were followed by Austria, the United States and the Czech Republic, which together accounted for a further 20%.

In terms of the main suppliers, the United States, with a CAGR of +208.2%, saw the highest growth rate of the value of imports, 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, increasing by 5.7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 9.4% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

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 United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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