U.S.: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in the U.S.

In 2022, the U.S. agricultural forestry machinery market increased by 15% to $X, rising for the second year in a row after four years of decline. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.8% against 2020 indices. Agricultural forestry machinery consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Agricultural Forestry Machinery Production in the U.S.

In value terms, agricultural forestry machinery production reduced to $X in 2022. Overall, production recorded a perceptible reduction. The growth pace was the most rapid in 2016 when the production volume increased by 67% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Agricultural Forestry Machinery Exports

Exports from the U.S.

Agricultural forestry machinery exports from the United States shrank to X units in 2022, falling by -12% on 2021 figures. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 73%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, agricultural forestry machinery exports stood at $X in 2022. Over the period under review, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for agricultural forestry machinery exports from the United States, with a 68% share of total exports. Moreover, agricultural forestry machinery exports to Canada exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. Australia (X units) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-8.4% per year) and Australia (-13.7% per year).

In value terms, Canada ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from the United States, comprising 55% of total exports. The second position in the ranking was taken by Mexico ($X), with a 5% share of total exports. It was followed by Australia, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+5.5% per year) and Australia (-10.5% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, picking up by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into the U.S.

In 2022, supplies from abroad of agricultural forestry machinery (lawn or sportsground rollers) increased by 37% to X units, rising for the sixth year in a row after three years of decline. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 135% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, agricultural forestry machinery imports soared to $X in 2022. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 54%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of agricultural forestry machinery imports to the United States, together accounting for 45% of total imports. India, Italy, Canada and South Korea lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +118.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to the United States, comprising 32% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Canada stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.5% per year) and China (+20.7% per year).

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, with a decrease of -6.9% against the previous year. Over the period under review, the import price saw a abrupt setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 6.6%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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