Harvesting Machinery Market Overview in the European Union
In value terms, harvesting machinery production stood at $1.3B in 2010 estimated in export prices. In general, harvesting machinery production continues to indicate an outstanding expansion. The growth pace was the most rapid in 2010 when production volume increased by 250% against the previous year. In that year, harvesting machinery production reached its peak level and is likely to continue its growth in the immediate term.
Germany (23K units) remains the largest harvesting machinery producing country in the European Union, comprising approx. 37% of total volume. Moreover, harvesting machinery production in Germany exceeded the figures recorded by the second-largest producer, France (5.7K units), fourfold. Italy (5.6K units) ranked third in terms of total production with a 9% share.
From 2007 to 2010, the average annual growth rate of volume in Germany stood at +30.2%. In the other countries, the average annual rates were as follows: France (+334.3% per year) and Italy (+14.8% per year).
The revenue of the harvesting machinery market in the European Union amounted to $333M in 2010, going down by -14.9% 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, harvesting machinery consumption, however, continues to indicate a dramatic deduction. The most prominent rate of growth was recorded in 2009 with an increase of 29% year-to-year. The level of harvesting machinery consumption peaked at $917M in 2007; however, from 2008 to 2010, consumption stood at a somewhat lower figure.
From 2007 to 2010, the most notable rate of growth in terms of harvesting machinery consumption, amongst the main consuming countries, was attained by Greece (+214.2% per year), while harvesting machinery consumption for the other leaders experienced more modest paces of growth.
In value terms, France ($102M), Germany ($62M) and the UK ($45M) appeared to be the countries with the highest levels of market value in 2010, with a combined 63% share of the total market. Italy, Greece, Poland and Spain lagged somewhat behind, together comprising a further 9.2%.
Greece (+212.4% per year) recorded the highest growth rate of market size, in terms of the main consuming countries over the period under review, while harvesting machinery market for the other leaders experienced more modest paces of growth.
In 2010, the highest levels of harvesting machinery per capita consumption was registered in Greece (350 units per million persons), followed by Germany (69 units per million persons), France (64 units per million persons) and Spain (60 units per million persons), while the world average per capita consumption of harvesting machinery was estimated at 61 units per million persons.
From 2007 to 2010, the average annual rate of growth in terms of the harvesting machinery per capita consumption in Greece stood at +213.6%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+7.8% per year) and France (-43.7% per year).