Disc Harrow Market

The article discusses the projected growth of the global disc harrow market from 2022 to 2030, with a forecasted increase in consumption and market value. It analyzes consumption, production, imports, and exports of disc harrows, highlighting China, India, and the United States as key players in the market. The data also reflects fluctuations in market trends, prices, and growth rates over the past decade.

Market Forecast

Driven by increasing demand for disc harrows worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.6% for the period from 2022 to 2030, which is projected to bring the market value to $4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Disc Harrows

In 2022, consumption of disc harrows decreased by -5.1% to 1M units, falling for the second year in a row after five years of growth. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.4% against 2020 indices. Over the period under review, global consumption attained the maximum volume at 1.1M units in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global disc harrow market value rose modestly to $2.2B in 2022, picking up by 4.2% 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). Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.9% against 2020 indices. Over the period under review, the global market attained the peak level at $2.4B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

China (216K units) constituted the country with the largest volume of disc harrow consumption, comprising approx. 21% of total volume. Moreover, disc harrow consumption in China exceeded the figures recorded by the second-largest consumer, India (84K units), threefold. The United States (67K units) ranked third in terms of total consumption with a 6.5% share.

In China, disc harrow consumption expanded at an average annual rate of +5.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+6.1% per year) and the United States (+4.1% per year).

In value terms, the largest disc harrow markets worldwide were China ($255M), India ($231M) and the United States ($200M), together accounting for 31% of the global market. Pakistan, Bangladesh, Russia, the UK, Mexico, South Korea, Brazil, Australia, Iran and Italy lagged somewhat behind, together accounting for a further 32%.

In terms of the main consuming countries, Pakistan, with a CAGR of +10.2%, recorded the highest rates of growth with regard to 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 disc harrow per capita consumption in 2022 were Australia (769 units per million persons), the UK (519 units per million persons) and Italy (440 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Australia (with a CAGR of +8.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Disc Harrows

In 2022, production of disc harrows decreased by -2.9% to 975K units, falling for the third consecutive year after four years of growth. In general, the total production indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.9% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 19% against the previous year. Global production peaked at 1.1M units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, disc harrow production reached $2.2B in 2022 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 36%. Global production peaked at $2.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of disc harrow production was China (221K units), accounting for 23% of total volume. Moreover, disc harrow production in China exceeded the figures recorded by the second-largest producer, India (88K units), threefold. Thailand (56K units) ranked third in terms of total production with a 5.7% share.

In China, disc harrow production expanded at an average annual rate of +5.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+5.7% per year) and Thailand (+17.1% per year).

Imports

World Imports of Disc Harrows

In 2022, after five years of growth, there was significant decline in supplies from abroad of disc harrows, when their volume decreased by -30% to 207K units. Overall, imports, however, showed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 39% against the previous year. Over the period under review, global imports attained the peak figure at 296K units in 2021, and then contracted remarkably in the following year.

In value terms, disc harrow imports stood at $666M in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The purchases of the six major importers of disc harrows, namely the United States, Russia, Spain, Canada, Nigeria and Australia, represented more than half of total import. The following importers - Cambodia (7.1K units), Poland (6.5K units), France (5.3K units), Kazakhstan (5.1K units), Ukraine (4.7K units), Japan (4.3K units) and South Africa (4.2K units) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of +38.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest disc harrow importing markets worldwide were the United States ($109M), Russia ($75M) and France ($58M), with a combined 36% share of global imports. Canada, Australia, Poland, Nigeria, Ukraine, Japan, South Africa, Kazakhstan, Cambodia and Spain lagged somewhat behind, together comprising a further 27%.

Cambodia, with a CAGR of +32.6%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

In 2022, the average disc harrow import price amounted to $3,214 per unit, rising by 50% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($10,889 per unit), while Spain ($486 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Disc Harrows

After three years of growth, shipments abroad of disc harrows decreased by -28.7% to 157K units in 2022. In general, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 32%. Over the period under review, the global exports hit record highs at 220K units in 2021, and then dropped markedly in the following year.

In value terms, disc harrow exports stood at $607M in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +100.5% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

Thailand was the largest exporter of disc harrows in the world, with the volume of exports finishing at 55K units, which was near 35% of total exports in 2022. It was distantly followed by Canada (23K units), Brazil (14K units) and Turkey (11K units), together committing a 31% share of total exports. Poland (6.7K units), Germany (5.7K units), China (5.3K units), Russia (5.3K units), Italy (4.9K units), India (3.4K units), Ukraine (2.8K units) and France (2.7K units) held a little share of total exports.

Thailand was also the fastest-growing in terms of the disc harrows exports, with a CAGR of +37.6% from 2012 to 2022. At the same time, Canada (+29.1%), Russia (+16.1%), Turkey (+14.5%), Ukraine (+12.7%), Poland (+7.7%) and Italy (+5.6%) displayed positive paces of growth. India experienced a relatively flat trend pattern. By contrast, China (-1.1%), Brazil (-1.4%), France (-12.0%) and Germany (-13.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Canada, Turkey, Russia and Poland increased by +34, +13, +4.6, +2.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($199M) remains the largest disc harrow supplier worldwide, comprising 33% of global exports. The second position in the ranking was held by Canada ($60M), with a 9.9% share of global exports. It was followed by Poland, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in Germany totaled +6.8%. In the other countries, the average annual rates were as follows: Canada (+31.3% per year) and Poland (+25.2% per year).

Export Prices By Country

In 2022, the average disc harrow export price amounted to $3,881 per unit, jumping by 43% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, disc harrow export price increased by +53.5% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($34,678 per unit), while Thailand ($215 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+23.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform