U.S.: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in the U.S.

In 2021, the U.S. agricultural appliance market increased by 3.1% to $X, rising for the second consecutive year after three years of decline. In general, consumption continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Agricultural Appliance Production in the U.S.

In value terms, agricultural appliance production declined significantly to $X in 2021. In general, production, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 4,131% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Agricultural Appliance Exports

Exports from the U.S.

Agricultural appliance exports from the United States soared to X units in 2021, jumping by 35% compared with 2020 figures. In general, exports, however, showed a abrupt descent. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural appliance exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units), Mexico (X units) and France (X units) were the main destinations of agricultural appliance exports from the United States, with a combined 30% share of total exports. Saudi Arabia, South Africa, Australia, China, Belgium, Spain, Brazil, Turkey, Italy and the United Arab Emirates lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +8.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for agricultural appliance exported from the United States were Mexico ($X), Canada ($X) and Australia ($X), together accounting for 49% of total exports. These countries were followed by France, China, South Africa, Spain, Brazil, Saudi Arabia, Italy, Turkey, Belgium and the United Arab Emirates, which together accounted for a further 20%.

France, with a CAGR of +5.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, declining by -6.8% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.5% 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 2016 when the average export price increased by 32%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to the United Arab Emirates ($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 Australia (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Appliance Imports

Imports into the U.S.

In 2021, supplies from abroad of agricultural appliances increased by 40% to X units, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, agricultural appliance imports soared to $X in 2021. In general, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.8% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 34%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Mexico (X units), China (X units) and Israel (X units) were the main suppliers of agricultural appliance imports to the United States, with a combined 84% share of total imports. The Dominican Republic, Taiwan (Chinese), Italy and Canada lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Dominican Republic (with a CAGR of +31.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural appliance suppliers to the United States were Mexico ($X), China ($X) and Canada ($X), together accounting for 74% of total imports. These countries were followed by the Dominican Republic, Taiwan (Chinese), Israel and Italy, which together accounted for a further 17%.

The Dominican Republic, with a CAGR of +16.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, which is down by -8.3% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The growth pace was the most rapid in 2019 an increase of 24%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+30.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform