U.S.: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in the U.S.

For the fourth year in a row, the U.S. hay-making machinery market recorded growth in sales value, which increased by 4.4% to $X in 2021. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Hay-Making Machinery Production in the U.S.

In value terms, hay-making machinery production shrank slightly to $X in 2021. In general, production, however, recorded a perceptible contraction. The growth pace was the most rapid in 2016 when the production volume increased by 25%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hay-Making Machinery Exports

Exports from the U.S.

In 2021, overseas shipments of hay-making machinery increased by 20% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hay-making machinery exports surged to $X in 2021. Over the period under review, exports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when exports increased by 28% against the previous year. Over the period under review, the exports 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 hay-making machinery exports from the United States, with a 70% share of total exports. Moreover, hay-making machinery exports to Canada exceeded the volume sent to the second major destination, Australia (X units), eightfold. The third position in this ranking was taken by China (X units), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-7.2% per year) and China (-5.0% per year).

In value terms, Canada ($X) remains the key foreign market for hay-making machinery exports from the United States, comprising 54% of total exports. The second position in the ranking was taken by Australia ($X), with an 18% share of total exports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+8.0% per year) and China (+9.7% per year).

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, increasing by 3.1% against the previous year. Overall, the export price showed a strong expansion. The pace of growth was the most pronounced in 2020 an increase of 94%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Egypt ($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 (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into the U.S.

In 2021, overseas purchases of hay-making machinery increased by 43% to X units, rising for the fourth consecutive year after two years of decline. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 56%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, hay-making machinery imports skyrocketed to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 +100.3% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), Germany (X units) and France (X units) were the main suppliers of hay-making machinery imports to the United States, together accounting for 81% of total imports. These countries were followed by Austria, Poland, the Czech Republic, Canada, the Netherlands and Mexico, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) constituted the largest hay-making machinery suppliers to the United States, with a combined 75% share of total imports. These countries were followed by Austria, Canada, Poland, the Czech Republic, Mexico and the Netherlands, which together accounted for a further 22%.

Austria, with a CAGR of +46.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hay-making machinery import price amounted to $X per unit, approximately mirroring the previous year. Overall, the import price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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