Overview of the Global Market for Forage Harvesters and Other Harvesting Machines

Market Size for Forage Harvesters and Other Harvesting Machines

In 2023, the global market for forage harvesters and other harvesting machines decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, the total consumption indicated moderate growth 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, consumption decreased by X% against 2021 indices. Over the period under review, the global market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Forage Harvesters and Other Harvesting Machines

In value terms, production of forage harvesters and other harvesting machines expanded modestly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a moderate 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, global production of growth remained at a lower figure.

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Exports of Forage Harvesters and Other Harvesting Machines

Exports

In 2023, overseas shipments of forage harvesters and other harvesting machines increased by X% to X units, rising for the fourth consecutive year after two years of decline. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports of hit record highs in 2023 and are likely to continue growth in years to come.

In value terms, exports of forage harvesters and other harvesting machines stood at $X in 2023. In general, total exports indicated a tangible expansion 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. Based on 2023 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. The global exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the three major exporters of forage harvesters and other harvesting machines, namely Italy, the United States and Germany, represented more than half of total export. Brazil (X units) ranks next in terms of the total exports with a X% share, followed by Belgium (X%) and France (X%). The following exporters - the Netherlands (X units), Poland (X units), Austria (X units), the UK (X units), China (X units) and Canada (X units) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Brazil ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of global exports. Belgium, Italy, France, the Netherlands, China, Canada, the UK, Austria and Poland lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global 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, with a decrease of X% against the previous year. In general, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per unit), while Italy ($X per unit) was amongst the lowest.

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

Imports of Forage Harvesters and Other Harvesting Machines

Imports

For the seventh year in a row, the global market recorded growth in supplies from abroad of forage harvesters and other harvesting machines, which increased by X% to X units in 2023. Over the period under review, total imports indicated a temperate 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 increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Global imports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, imports of forage harvesters and other harvesting machines rose sharply to $X in 2023. Overall, total imports indicated a temperate expansion 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. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Global imports peaked in 2023 and are likely to see gradual growth in the near future.

Imports by Country

The United States (X units) and France (X units) represented the largest importers of forage harvesters and other harvesting machines in 2023, resulting at approx. X% and X% of total imports, respectively. It was distantly followed by Australia (X units), making up a X% share of total imports. Brazil (X units), the Netherlands (X units), Austria (X units), Italy (X units), Belgium (X units), Germany (X units), Russia (X units), Canada (X units), Romania (X units) and Uzbekistan (X units) held a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines importing markets worldwide were the United States ($X), Brazil ($X) and Australia ($X), with a combined X% share of global imports. France, Canada, Russia, Germany, the Netherlands, Italy, Belgium, Austria, Uzbekistan and Romania lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average import price for forage harvesters and other harvesting machines stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Global import price peaked at $X per unit in 2019; however, from 2020 to 2023, 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 Brazil ($X per unit), while Austria ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform