ASEAN: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in ASEAN

The ASEAN market for forage harvesters and other harvesting machines expanded significantly to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Forage Harvesters and Other Harvesting Machines in ASEAN

In value terms, production of forage harvesters and other harvesting machines expanded modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports in ASEAN

In 2023, exports of forage harvesters and other harvesting machines in ASEAN surged to X units, with an increase of X% against 2022. In general, exports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, exports of forage harvesters and other harvesting machines surged to $X in 2023. Over the period under review, exports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Thailand was the main exporter of forage harvesters and other harvesting machines in ASEAN, with the volume of exports recording X units, which was approx. X% of total exports in 2023. Malaysia (X units) held the second position in the ranking, followed by Vietnam (X units). All these countries together took near X% share of total exports. Indonesia (X units) held a little share of total exports.

Exports from Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. Vietnam (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, Thailand ($X) remains the largest forage harvesters and other harvesting machines supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In Thailand, exports of forage harvesters and other harvesting machines shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

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 Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

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

Imports of Forage Harvesters and Other Harvesting Machines

Imports in ASEAN

Imports of forage harvesters and other harvesting machines soared to X units in 2023, rising by X% against the previous year. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X units in 2021; afterwards, it flattened through to 2023.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2023. In general, imports posted a strong increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports of hit record highs in 2023 and are expected to retain growth in years to come.

Imports by Country

Thailand represented the key importer of forage harvesters and other harvesting machines in ASEAN, with the volume of imports recording X units, which was near X% of total imports in 2023. It was distantly followed by Indonesia (X units), committing a X% share of total imports. The following importers - Myanmar (X units), Vietnam (X units), the Philippines (X units) and Cambodia (X units) - together made up X% of total imports.

Thailand was also the fastest-growing in terms of the forage harvesters and other harvesting machines imports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), Vietnam (X%), Cambodia (X%) and Myanmar (X%) displayed positive paces of growth. By contrast, the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported forage harvesters and other harvesting machines in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Myanmar, with a X% share.

In Thailand, imports of forage harvesters and other harvesting machines increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Myanmar (X% per year).

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per unit, falling by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit, and then fell in the following year.

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

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

Source: IndexBox Platform