United Kingdom: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in the UK

The UK market for forage harvesters and other harvesting machines shrank slightly to $X in 2023, dropping by X% against the previous year. Over the period under review, consumption recorded a mild shrinkage. Consumption of peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Forage Harvesters and Other Harvesting Machines in the UK

In value terms, production of forage harvesters and other harvesting machines dropped slightly to $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2023, production of growth failed to regain momentum.

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Exports of Forage Harvesters and Other Harvesting Machines

Exports from the UK

For the fourth consecutive year, the UK recorded growth in overseas shipments of forage harvesters and other harvesting machines, which increased by X% to X units in 2023. Over the period under review, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of forage harvesters and other harvesting machines skyrocketed to $X in 2023. In general, exports continue to indicate a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for exports of forage harvesters and other harvesting machines from the UK, with a X% share of total exports. Moreover, exports of forage harvesters and other harvesting machines to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and China (X% per year).

In value terms, the largest markets for forage harvesters and other harvesting machines exported from the UK were the Netherlands ($X), the United States ($X) and China ($X), with a combined X% share of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for forage harvesters and other harvesting machines stood at $X per unit in 2023, waning by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2022, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into the UK

In 2023, the amount of forage harvesters and other harvesting machines imported into the UK rose markedly to X units, picking up by X% compared with the previous year's figure. Overall, total imports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2022 to 2023, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of forage harvesters and other harvesting machines expanded remarkably to $X in 2023. Over the period under review, total imports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports of remained at a lower figure.

Imports by Country

In 2023, Germany (X units) constituted the largest forage harvesters and other harvesting machines supplier to the UK, accounting for a X% share of total imports. Moreover, imports of forage harvesters and other harvesting machines from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X units), sixfold. The third position in this ranking was taken by France (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and France (X% per year).

In value terms, Germany ($X) constituted the largest supplier of forage harvesters and other harvesting machines to the UK, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

Import Prices by Country

The average import price for forage harvesters and other harvesting machines stood at $X per unit in 2023, approximately mirroring the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform