Eastern Asia: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Eastern Asia

The East Asian hay-making machinery market dropped to $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hay-Making Machinery Production in Eastern Asia

In value terms, hay-making machinery production reduced modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Hay-Making Machinery Exports

Exports in Eastern Asia

After five years of growth, overseas shipments of hay-making machinery decreased by X% to X units in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by X%. The volume of export peaked at X units in 2021, and then dropped markedly in the following year.

In value terms, hay-making machinery exports plummeted to $X in 2022. Overall, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell significantly in the following year.

Exports by Country

In 2022, China (X units) represented the main exporter of hay-making machinery in Eastern Asia, generating X% of total export.

China was also the fastest-growing in terms of the hay-making machinery exports, with a CAGR of X% from 2012 to 2022. China (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest hay-making machinery supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Hay-Making Machinery Imports

Imports in Eastern Asia

In 2022, approx. X units of hay-making machinery were imported in Eastern Asia; dropping by X% against the year before. Total imports indicated a resilient increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded 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 failed to regain momentum.

In value terms, hay-making machinery imports contracted sharply to $X in 2022. Overall, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Japan (X units) was the major importer of hay-making machinery, making up X% of total imports. South Korea (X units) ranks second in terms of the total imports with a X% share, followed by China (X%).

Imports into Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. China experienced a relatively flat trend pattern. From 2012 to 2022, the share of Japan and South Korea increased by X and X percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported hay-making machinery in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

In Japan, hay-making machinery imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit, and then shrank in the following year.

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

From 2012 to 2022, 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

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