Agricultural Harvester Market

The article discusses the forecasted trends in the global agricultural harvester market, with a predicted increase in market volume and value. It analyzes consumption, production, imports, and exports of agricultural harvesters worldwide, highlighting key countries and types of agricultural harvesters. The data also shows the average prices of agricultural harvester imports and exports, as well as the growth rates in market size over the period under review.

Market Forecast

Driven by rising demand for agricultural harvester worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 3.8M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $56.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Agricultural Harvesters

In 2022, consumption of agricultural harvesters decreased by -5.3% to 3.5M units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 8.4%. Over the period under review, global consumption attained the peak volume at 4.6M units in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

The global agricultural harvester market value fell to $39.4B in 2022, reducing by -3.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $41B, and then dropped modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (676K units), the United States (398K units) and Brazil (307K units), with a combined 39% share of global consumption. Japan, Pakistan, Germany, Indonesia, Bangladesh, France, Spain, India, the UK and Vietnam lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +14.9%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest agricultural harvester markets worldwide were the United States ($7.1B), China ($5B) and Germany ($2.4B), with a combined 37% share of the global market. Japan, India, Brazil, France, Pakistan, Spain, Vietnam, Bangladesh, the UK and Indonesia lagged somewhat behind, together accounting for a further 28%.

Among the main consuming countries, India, with a CAGR of +11.7%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of agricultural harvester per capita consumption in 2022 were Spain (1,596 units per million persons), Brazil (1,426 units per million persons) and Japan (1,362 units per million persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.7%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Consumption By Type

Threshing machinery except combine harvester-threshers (3M units) constituted the product with the largest volume of consumption, comprising approx. 87% of total volume. Moreover, threshing machinery except combine harvester-threshers exceeded the figures recorded for the second-largest type, forage harvesters and other harvesting machines (274K units), more than tenfold.

For threshing machinery except combine harvester-threshers, consumption declined by an average annual rate of -2.8% over the period from 2012-2022. With regard to the other consumed products, the following average annual rates of growth were recorded: forage harvesters and other harvesting machines (+4.4% per year) and combine harvester-threshers (+1.7% per year).

In value terms, combine harvester-threshers ($15.5B), threshing machinery except combine harvester-threshers ($14.5B) and forage harvesters and other harvesting machines ($9.5B) were the products with the highest levels of market value in 2022.

Among the main consumed products, forage harvesters and other harvesting machines, with a CAGR of +3.5%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other products experienced mixed trends in the market figures.

Production

World Production of Agricultural Harvesters

In 2022, after two years of growth, there was significant decline in production of agricultural harvesters, when its volume decreased by -5.3% to 3.5M units. In general, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of 9.2%. Over the period under review, global production hit record highs at 4.6M units in 2014; however, from 2015 to 2022, production remained at a lower figure.

In value terms, agricultural harvester production reduced to $39.3B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 14%. As a result, production attained the peak level of $41.6B, and then shrank in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (701K units), the United States (400K units) and Brazil (314K units), with a combined 40% share of global production. Japan, Pakistan, Germany, Indonesia, Bangladesh, India, France, the UK, Turkey and Vietnam lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.7%), while production for the other global leaders experienced mixed trends in the production figures.

Production By Type

Threshing machinery except combine harvester-threshers (3.1M units) constituted the product with the largest volume of production, comprising approx. 86% of total volume. Moreover, threshing machinery except combine harvester-threshers exceeded the figures recorded for the second-largest type, forage harvesters and other harvesting machines (277K units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of threshing machinery except combine harvester-threshers production stood at -2.8%. For the other products, the average annual rates were as follows: forage harvesters and other harvesting machines (+4.7% per year) and combine harvester-threshers (+1.9% per year).

In value terms, the largest types of agricultural harvesters in terms of market size were combine harvester-threshers ($15.7B), threshing machinery except combine harvester-threshers ($15B) and forage harvesters and other harvesting machines ($8.6B).

Forage harvesters and other harvesting machines, with a CAGR of +3.5%, saw the highest growth rate of market size among the main produced products over the period under review, while production for the other products experienced mixed trends in the production figures.

Imports

World Imports of Agricultural Harvesters

In 2022, after two years of growth, there was significant decline in overseas purchases of agricultural harvesters, when their volume decreased by -6.2% to 208K units. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, imports reached the peak of 221K units, and then reduced in the following year.

In value terms, agricultural harvester imports expanded significantly to $8B in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports By Country

The countries with the highest levels of agricultural harvester imports in 2022 were Spain (28K units), the United States (21K units) and France (14K units), together reaching 31% of total import. Kazakhstan (8.6K units), Italy (8.2K units), Belgium (7.9K units), the Netherlands (6.9K units), Canada (5.2K units), Romania (5.1K units), Ukraine (4.9K units), India (4.9K units), Australia (4.4K units) and Bangladesh (3.9K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +73.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest agricultural harvester importing markets worldwide were Canada ($1B), the United States ($801M) and Australia ($513M), with a combined 29% share of global imports. France, Romania, Ukraine, Belgium, Italy, Kazakhstan, India, the Netherlands, Bangladesh and Spain lagged somewhat behind, together accounting for a further 19%.

Bangladesh, with a CAGR of +63.5%, saw the highest growth rate of 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.

Imports By Type

Forage harvesters and other harvesting machines (69K units) and combine harvester-threshers (54K units) were the main types of agricultural harvesters in 2022, accounting for approx. 42% and 33% of total imports, respectively. It was distantly followed by threshing machinery except combine harvester-threshers (40K units), generating a 25% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by forage harvesters and other harvesting machines (with a CAGR of +3.5%), while imports for the other products experienced mixed trends in the imports figures.

In value terms, combine harvester-threshers ($5.3B) constitutes the largest type of agricultural harvesters imported worldwide, comprising 66% of global imports. The second position in the ranking was taken by forage harvesters and other harvesting machines ($2.5B), with a 31% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of combine harvester-threshers imports amounted to +1.7%. For the other products, the average annual rates were as follows: forage harvesters and other harvesting machines (+2.6% per year) and threshing machinery except combine harvester-threshers (-4.9% per year).

Import Prices By Type

In 2022, the average agricultural harvester import price amounted to $38,740 per unit, with an increase of 22% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was combine harvester-threshers ($99,374 per unit), while the price for threshing machinery except combine harvester-threshers ($5,485 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by threshing machinery (+3.3%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

The average agricultural harvester import price stood at $38,740 per unit in 2022, with an increase of 22% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($198,007 per unit), while Spain ($2,081 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Agricultural Harvesters

In 2022, overseas shipments of agricultural harvesters decreased by -6.5% to 236K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 36% against the previous year. Over the period under review, the global exports reached the maximum at 253K units in 2021, and then contracted in the following year.

In value terms, agricultural harvester exports expanded sharply to $8B in 2022. Overall, total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, Italy (40K units), China (27K units), the United States (23K units), Germany (21K units), India (16K units), Belgium (15K units), Brazil (10K units), France (9.7K units), Turkey (9.6K units), Thailand (7.9K units), Belarus (7.6K units) and Denmark (7.3K units) was the main exporter of agricultural harvesters in the world, comprising 83% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Denmark (with a CAGR of +34.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.2B), the United States ($1.9B) and Belgium ($975M) were the countries with the highest levels of exports in 2022, together comprising 64% of global exports. Italy, Brazil, China, Thailand, France, Belarus, Turkey, Denmark and India lagged somewhat behind, together accounting for a further 20%.

In terms of the main exporting countries, Thailand, with a CAGR of +12.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Forage harvesters and other harvesting machines (71K units) and combine harvester-threshers (69K units) represented roughly 74% of total exports in 2022. It was distantly followed by threshing machinery except combine harvester-threshers (50K units), achieving a 26% share of total exports.

From 2012 to 2022, the biggest increases were recorded for forage harvesters and other harvesting machines (with a CAGR of +4.5%), while shipments for the other products experienced mixed trends in the exports figures.

In value terms, combine harvester-threshers ($5.4B) remains the largest type of agricultural harvesters supplied worldwide, comprising 67% of global exports. The second position in the ranking was held by forage harvesters and other harvesting machines ($2.4B), with a 29% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of combine harvester-threshers exports stood at +1.3%. With regard to the other exported products, the following average annual rates of growth were recorded: forage harvesters and other harvesting machines (+2.8% per year) and threshing machinery except combine harvester-threshers (-3.1% per year).

Export Prices By Type

The average agricultural harvester export price stood at $34,003 per unit in 2022, with an increase of 21% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $43,738 per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was combine harvester-threshers ($78,511 per unit), while the average price for exports of threshing machinery except combine harvester-threshers ($5,240 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by threshing machinery (+4.7%), while the other products experienced a decline in the export price figures.

Export Prices By Country

In 2022, the average agricultural harvester export price amounted to $34,003 per unit, jumping by 21% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 24% against the previous year. Over the period under review, the average export prices reached the maximum at $43,738 per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($104,360 per unit), while India ($1,106 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform