In 2024, the forecast for China's import of hay tedders, rakes, and other haymaking machinery is projected at a value of 491.29. This marks a decline compared to 2023, with a steady decreasing trend forecasted through 2028. The year-on-year percentage decreases show a consistent drop: from 2024 to 2025 at 3.66%, followed by 3.72% from 2025 to 2026, 3.80% from 2026 to 2027, and 3.86% from 2027 to 2028. This results in a compound annual growth rate (CAGR) of -3.76% over the five-year period.
Future trends to watch for include:
- Technological advancements in local machinery potentially reducing import dependence.
- Changes in China's agricultural policy impacting machinery imports.
- Global economic factors affecting trade tariffs and import costs.