Asia-Pacific: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Asia-Pacific

The Asia-Pacific market for forage harvesters and other harvesting machines expanded modestly to $X in 2023, picking up by X% against the previous year. Overall, consumption recorded a pronounced expansion. The level of consumption peaked at $X in 2021; afterwards, it flattened through to 2023.

Production of Forage Harvesters and Other Harvesting Machines in Asia-Pacific

In value terms, production of forage harvesters and other harvesting machines totaled $X in 2023 estimated in export price. Over the period under review, production posted a noticeable increase. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in Asia-Pacific

In 2023, shipments abroad of forage harvesters and other harvesting machines was finally on the rise to reach X units after two years of decline. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports of reached the peak figure at X units in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, exports of forage harvesters and other harvesting machines soared to $X in 2023. Overall, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

China dominates machines structure, finishing at X units, which was near X% of total exports in 2023. It was distantly followed by Thailand (X units) and India (X units), together achieving a X% share of total exports. Japan (X units), New Zealand (X units) and Australia (X units) took a relatively small share of total exports.

China was also the fastest-growing in terms of the forage harvesters and other harvesting machines exports, with a CAGR of X% from 2012 to 2023. At the same time, New Zealand (X%) and India (X%) displayed positive paces of growth. By contrast, Japan (X%), Thailand (X%) and Australia (X%) illustrated a downward trend over the same period. From 2012 to 2023, 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, China ($X) remains the largest forage harvesters and other harvesting machines supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, exports of forage harvesters and other harvesting machines increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Japan (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. Over the period under review, the export prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports in Asia-Pacific

In 2023, purchases abroad of forage harvesters and other harvesting machines increased by X% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2023. Overall, imports saw a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Australia represented the major importer of forage harvesters and other harvesting machines in Asia-Pacific, with the volume of imports resulting at X units, which was near X% of total imports in 2023. Thailand (X units) ranks second in terms of the total imports with a X% share, followed by China (X%) and New Zealand (X%). The following importers - Japan (X units), India (X units) and Indonesia (X units) - each finished at an X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to forage harvesters and other harvesting machines imports into Australia stood at X%. At the same time, Thailand (X%), Indonesia (X%), Japan (X%) and New Zealand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, India (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Australia, Thailand, New Zealand, Indonesia and Japan increased by X, X, X, X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In China, imports of forage harvesters and other harvesting machines increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Australia (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per unit, growing by X% against the previous year. Overall, the import price recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform