Asia: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Asia

The Asian agricultural forestry machinery market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption enjoyed a resilient increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Asia

In value terms, agricultural forestry machinery production contracted slightly to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Agricultural Forestry Machinery Exports

Exports in Asia

Agricultural forestry machinery exports skyrocketed to X units in 2022, picking up by X% compared with the year before. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, agricultural forestry machinery exports contracted to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, recording X units, which was near X% of total exports in 2022. It was distantly followed by India (X units), mixing up a X% share of total exports. Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the agricultural forestry machinery (lawn or sportsground rollers) exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%) and Japan (X%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural forestry machinery supplying countries in Asia were China ($X), India ($X) and Japan ($X), together accounting for X% of total exports.

Among the main exporting countries, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the export price figures.

Agricultural Forestry Machinery Imports

Imports in Asia

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were imported in Asia; dropping by X% compared with 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, agricultural forestry machinery imports dropped to $X in 2022. Over the period under review, imports continue to indicate a noticeable slump. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

India (X units), Japan (X units) and Kazakhstan (X units) represented roughly X% of total imports in 2022. Bangladesh (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%) and South Korea (X%). Malaysia (X units), Indonesia (X units), Nepal (X units), Uzbekistan (X units), Turkmenistan (X units), Afghanistan (X units) and Georgia (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural forestry machinery importing markets in Asia were Japan ($X), India ($X) and South Korea ($X), together comprising X% of total imports. Singapore, Bangladesh, Kazakhstan, Malaysia, Nepal, Uzbekistan, Indonesia, Turkmenistan, Georgia and Afghanistan lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Uzbekistan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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