Overview of the Global Market for Forage Harvesters and Other Harvesting Machines

Market Size for Forage Harvesters and Other Harvesting Machines

In 2021, the global market for forage harvesters and other harvesting machines was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a mild reduction. Over the period under review, the global market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Forage Harvesters and Other Harvesting Machines

In value terms, production of forage harvesters and other harvesting machines skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight setback. Global production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports

In 2021, shipments abroad of forage harvesters and other harvesting machines increased by 16% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 27% against the previous year. Over the period under review, the global exports of hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of forage harvesters and other harvesting machines surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, the global exports of reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Germany was the major exporter of forage harvesters and other harvesting machines in the world, with the volume of exports reaching X units, which was approx. 29% of total exports in 2021. The United States (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (9.4%), Belgium (6.5%), Italy (6.4%), France (5.8%) and the Netherlands (4.5%). The following exporters - Belarus (X units), Russia (X units), Poland (X units), Canada (X units), China (X units) and the UK (X units) - together made up 14% of total exports.

From 2012 to 2021, average annual rates of growth with regard to forage harvesters and other harvesting machines exports from Germany stood at +2.1%. At the same time, Poland (+18.4%), Russia (+18.2%), China (+14.4%), France (+5.9%), the UK (+4.5%), Brazil (+3.0%), Belgium (+3.0%) and Italy (+2.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.4% from 2012-2021. By contrast, the United States (-5.0%), the Netherlands (-6.4%), Canada (-6.9%) and Belarus (-7.7%) illustrated a downward trend over the same period. Germany (+4.9 p.p.), Russia (+2.4 p.p.), France (+2.3 p.p.), Brazil (+2.2 p.p.) and Poland (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Canada, the Netherlands, Belarus and the United States saw its share reduced by -1.8%, -3.7%, -4.2% and -7.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest forage harvesters and other harvesting machines supplier worldwide, comprising 42% of global exports. The second position in the ranking was held by Belgium ($X), with a 7.6% share of global exports. It was followed by the United States, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in Germany stood at +3.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+4.9% per year) and the United States (-10.1% per year).

Export Prices by Country

The average export price for forage harvesters and other harvesting machines stood at $X per unit in 2021, picking up by 3.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 9.2% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.7%), while the other global leaders experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports

In 2021, approx. X units of forage harvesters and other harvesting machines were imported worldwide; picking up by 13% on the previous year's figure. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% 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 +22.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 42% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of global imports of remained at a somewhat lower figure.

In value terms, imports of forage harvesters and other harvesting machines expanded significantly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 29% against the previous year. Over the period under review, global imports of attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Russia (X units) and the United States (X units) represented roughly 31% of total imports in 2021. China (X units) ranks next in terms of the total imports with a 5% share, followed by France (4.8%). The Netherlands (X units), Canada (X units), Germany (X units), Thailand (X units), the UK (X units), Australia (X units), Brazil (X units), Kazakhstan (X units) and Italy (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +17.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines importing markets worldwide were the United States ($X), Russia ($X) and France ($X), with a combined 31% share of global imports. These countries were followed by China, Canada, the UK, the Netherlands, Germany, Brazil, Italy, Australia, Thailand and Kazakhstan, which together accounted for a further 32%.

Among the main importing countries, Thailand, with a CAGR of +13.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, dropping by -3.4% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 91% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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