Eastern Asia: Agricultural Harvester Market 2024

Agricultural Harvester Market Size in Eastern Asia

In 2023, the East Asian agricultural harvester market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Agricultural Harvester Production in Eastern Asia

In value terms, agricultural harvester production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Agricultural Harvester Exports

Exports in Eastern Asia

For the eighth consecutive year, Eastern Asia recorded growth in shipments abroad of agricultural harvesters, which increased by X% to X units in 2023. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, agricultural harvester exports expanded notably to $X in 2023. Total exports indicated a remarkable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of agricultural harvesters, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the agricultural harvesters exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of China increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest agricultural harvester supplier in Eastern Asia.

In China, agricultural harvester exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2023, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Agricultural Harvester Imports

Imports in Eastern Asia

In 2023, after three years of decline, there was significant growth in purchases abroad of agricultural harvesters, when their volume increased by X% to X units. In general, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2023, the growth of imports remained at a lower figure.

In value terms, agricultural harvester imports soared to $X in 2023. Over the period under review, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importing country with an import of around X units, which resulted at X% of total imports. It was distantly followed by South Korea (X units), Japan (X units) and Democratic People's Republic of Korea (X units), together constituting a X% share of total imports. Taiwan (Chinese) (X units) took a relatively small share of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. South Korea experienced a relatively flat trend pattern. By contrast, Democratic People's Republic of Korea (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Korea, Japan and Democratic People's Republic of Korea increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported agricultural harvesters in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2023, jumping by X% against the previous year. Over the period under review, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Democratic People's Republic of Korea ($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