U.S.: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in the U.S.

In 2021, the U.S. market for forage harvesters and other harvesting machines was finally on the rise to reach $X after two years of decline. Overall, consumption, however, saw a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in the U.S.

In value terms, production of forage harvesters and other harvesting machines soared to $X in 2021. In general, production, however, recorded a drastic downturn. Production of peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from the U.S.

In 2021, overseas shipments of forage harvesters and other harvesting machines increased by 36% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 62%. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. Over the period under review, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 46% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for exports of forage harvesters and other harvesting machines from the United States, with a 43% share of total exports. Moreover, exports of forage harvesters and other harvesting machines to Canada exceeded the volume sent to the second major destination, Mexico (X units), threefold. The third position in this ranking was held by Australia (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+5.9% per year) and Australia (-11.7% per year).

In value terms, Canada ($X) remains the key foreign market for forage harvesters and other harvesting machines exports from the United States, comprising 40% of total exports. The second position in the ranking was held by Mexico ($X), with a 13% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Canada amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.5% per year) and Australia (-16.5% per year).

Export Prices by Country

The average export price for forage harvesters and other harvesting machines stood at $X per unit in 2021, dropping by -13.2% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 17%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Chile ($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 Colombia (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into the U.S.

In 2021, overseas purchases of forage harvesters and other harvesting machines decreased by -20.3% to X units for the first time since 2018, thus ending a two-year rising trend. In general, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.6% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 57%. As a result, imports reached the peak of X units, and then shrank significantly in the following year.

In value terms, imports of forage harvesters and other harvesting machines surged to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 40%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of forage harvesters and other harvesting machines to the United States, with a 35% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Canada (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+66.8% per year) and Canada (+1.4% per year).

In value terms, Germany ($X) constituted the largest supplier of forage harvesters and other harvesting machines to the United States, comprising 65% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by Canada, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+57.6% per year) and Canada (-3.4% per year).

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, growing by 51% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+27.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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