United Kingdom: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in the UK

The UK market for forage harvesters and other harvesting machines was estimated at $X in 2021, growing by 6.3% against the previous year. In general, consumption, however, continues to indicate a noticeable contraction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in the UK

In value terms, production of forage harvesters and other harvesting machines contracted slightly to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 27%. As a result, production attained the peak level of $X. From 2015 to 2021, production of growth remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from the UK

In 2021, approx. X units of forage harvesters and other harvesting machines were exported from the UK; jumping by 31% compared with the previous year. Overall, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.2% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 40% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, exports of forage harvesters and other harvesting machines skyrocketed to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.8% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X units), China (X units) and Australia (X units) were the main destinations of exports of forage harvesters and other harvesting machines from the UK, together comprising 37% 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 Romania (with a CAGR of +54.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for forage harvesters and other harvesting machines exported from the UK were China ($X), Italy ($X) and Spain ($X), with a combined 33% share of total exports. The Netherlands, Germany, Australia, Romania, Ireland, Poland, Switzerland, Ukraine, Hungary and Turkey lagged somewhat behind, together comprising a further 48%.

Switzerland, with a CAGR of +56.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, increasing by 7% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 15%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 Italy ($X per unit), while the average price for exports to Switzerland ($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 Spain (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into the UK

In 2021, the amount of forage harvesters and other harvesting machines imported into the UK skyrocketed to X units, rising by 43% on 2020 figures. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, 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.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest forage harvesters and other harvesting machines supplier to the UK, with a 78% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Germany exceeded the figures recorded by the second-largest supplier, France (X units), more than tenfold. Belgium (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.0% per year) and Belgium (-7.0% per year).

In value terms, Germany ($X) constituted the largest supplier of forage harvesters and other harvesting machines to the UK, comprising 85% of total imports. The second position in the ranking was taken by Belgium ($X), with a 4.2% share of total imports. It was followed by France, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-8.0% per year) and France (-2.6% per year).

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, surging by 12% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. 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 in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :