United Kingdom: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in the UK

The UK hay-making machinery market skyrocketed to $X in 2021, jumping by 35% against the previous year. Over the period under review, consumption, however, showed a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hay-Making Machinery Production in the UK

In value terms, hay-making machinery production totaled $X in 2021 estimated in export price. In general, production saw a abrupt decrease. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Hay-Making Machinery Exports

Exports from the UK

In 2021, overseas shipments of hay-making machinery decreased by -20.2% to X units, falling for the third consecutive year after three years of growth. In general, exports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2017 with an increase of 67%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, hay-making machinery exports dropped markedly to $X in 2021. Over the period under review, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2017 with an increase of 104% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then dropped dramatically in the following year.

Exports by Country

Ireland (X units) was the main destination for hay-making machinery exports from the UK, accounting for a 33% share of total exports. Moreover, hay-making machinery exports to Ireland exceeded the volume sent to the second major destination, Germany (X units), threefold. Poland (X units) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland stood at -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+33.7% per year) and Poland (+13.3% per year).

In value terms, Ireland ($X), Germany ($X) and the Netherlands ($X) constituted the largest markets for hay-making machinery exported from the UK worldwide, together comprising 59% of total exports. France, the United States, Ukraine, Poland, Austria, Lithuania and New Zealand lagged somewhat behind, together comprising a further 26%.

Austria, with a CAGR of +100.5%, recorded the highest rates of growth with regard to 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

The average hay-making machinery export price stood at $X per unit in 2021, reducing by -9.5% against the previous year. Over the last nine years, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2014 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Poland ($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 Germany (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into the UK

In 2021, hay-making machinery imports into the UK surged to X units, rising by 22% compared with the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 31%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, hay-making machinery imports surged to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 33%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of hay-making machinery to the UK, accounting for a 52% share of total imports. Moreover, hay-making machinery imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), twofold. Austria (X units) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.6% per year) and Austria (+17.5% per year).

In value terms, Germany ($X) constituted the largest supplier of hay-making machinery to the UK, comprising 55% of total imports. The second position in the ranking was held by France ($X), with a 22% share of total imports. It was followed by Austria, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.8% per year) and Austria (+16.3% per year).

Import Prices by Country

The average hay-making machinery import price stood at $X per unit in 2021, picking up by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 16% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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