1. Market Research
  2. > Agriculture Market Trends
  3. > Agricultural Machinery

Agricultural Machinery: Latest Market Trends and Statistics

  • Currently 4/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
34 votes

Global Agricultural Machinery Industry

The world agricultural machinery industry generated more than $56 billion in 2010, reports MarketLine. The market is expected to expand at a near 8% yearly rate through 2015 to reach almost $81 billion. The market involves the retail of tractors with less than 50 metric horsepower (which are classed as compact tractors), those above 50 metric horsepower and combine harvesters.

Agricultural market growth in developing nations will make up for slowing growth in developed countries in the years to come. Machinery market drivers include growing population, which increases food demand, and technological advances in machinery. Market growth depends on factors such as demand, economic climate and weather conditions.

As disposable incomes increase and living standards improve, demand for protein-rich foods fuels the need for agricultural products. Other industries that use agricultural products, including the pharmaceutical and petroleum sectors, also drive agricultural machinery demand.

Agricultural Machinery Key Segments

Farm tractorsrepresent the leading market segment in the agricultural machinery and implements market. Tractors do most of the basic work in agricultural production. Advances in tractor technology and the integration of GPS are two major factors that have made tractors more versatile and suitable for a wider range of farming tasks. Machinery used for plowing and cultivation is expected to show a yearly growth rate in excess of 6.5% until 2017.

Agricultural Machinery Regional Market Share

High range horsepower tractors of 100 horsepower and over are most commonly produced in the US and Canada. However, the EU and certain Latin American regions dominate the global market in medium-range tractor production, that is between 40 and 100 horsepower. In the lower range, below 40 horsepower, Japan is an important market player.

The EU agricultural machinery market generated almost $18 billion in 2010 according to MarketLine. The yearly growth rate is expected to increase to almost 5.5% through 2015, bringing the market to over $23 billion.

Asia-Pacific dominates the global agricultural machinery market in terms of growth. The region is expected to record close to 8% yearly growth until 2017, far outpacing growth in the established markets of the US and the EU. A major growth driver is farm mechanization in countries such as China and India.

Economic growth and rising disposable income along with the widespread mechanization of the farming industry in developing nations will fuel the agricultural implements and machinery market in the years to come. Mechanization of the agricultural industries in Russia, Brazil and Thailand will also fuel growth. Government spending to boost food production will also facilitate market expansion.

Read more »

Share

You might be interested in these related markets:

24/7 Customer Support

Talk to Sam

+1 718 473 0872

1-10 of about 1200 reports

Global Agricultural Machinery Industry

  • December 2015
    25 pages
  • Agricultural Ma...  

    Tractor  

    Agriculture  

  • World  

View report >

Agricultural Machinery Industry in the US

  • November 2016
    8 pages
  • Agricultural Ma...  

    Agriculture  

  • United States  

View report >

Agricultural Machinery Industry in the US and Europe

  • May 2016
    5 pages
  • United States  

    Europe  

    Asia  

View report >

Agricultural Machinery Industry in Asia - Forecast

  • June 2016
    11 pages
  • Agricultural Ma...  

  • Asia  

    Thailand  

    Bangladesh  

View report >

Agricultural Machinery Supply in Japan - Forecast

  • January 2015
    13 pages
  • Agricultural Ma...  

    Agricultural Ma...  

  • Japan  

    France  

    Asia  

View report >

Agricultural Machinery Statistics in Germany

  • February 2015
    33 pages
  • Agricultural Ma...  

    Farming  

  • Germany  

    Europe  

    World  

View report >

Agricultural Machinery Industry in Italy and India

  • January 2016
    88 pages
  • Agricultural Ma...  

  • Italy  

    India  

View report >

Agricultural Machinery Industry in Europe and the UK - Forecast, Monthly Update

  • June 2014
    11 pages
  • Agricultural Ma...  

  • Europe  

    United Kingdom  

View report >

Agricultural Machinery Industry in Canada and Mongolia

  • August 2016
    6 pages
  • Agricultural Ma...  

  • Canada  

    Mongolia  

    North America  

View report >

Agricultural Machinery Statistics in Brazil

  • March 2014
    5 pages
  • Agricultural Ma...  

View report >

Search in Agricultural Machinery Industry (About 1200 reports)
Parent industry: Agriculture
Related industries: Agricultural Products, Agrochemical

About 1500 reports

Purchase Reports From Reputable Market Research Publishers
(From $ 75 - $ 5795)

Farm Tractor Market - North America and Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Farm Tractor Market - North America and Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • $ 5795
  • Industry report
  • October 2016
  • by Transparency Market Research

North America and Europe Farm Tractor Market: Scope of the Study This report on the North America and Europe Farm Tractor market provides analysis for the period 2014–2024, wherein 2015 is the base yea ...

Global Off-highway Vehicle Market Transformation Trigge ...

September 2016 $ 4950

Milking Machines: Global Market Intelligence (2011-2020 ...

November 2016 $ 4675

Global Greenhouse Film Market Insights, Opportunity Ana ...

October 2016 $ 3900

India Agricultural Machinery Market

October 2016 $ 3250

Global And Chinese Farm Machinery Accessories Industry, ...

November 2016 $ 3000

Global And Chinese Forestry Machinery Industry, 2016 Ma ...

November 2016 $ 3000

Global And Chinese Farm Machinery Industry, 2016 Market ...

November 2016 $ 3000

Global And Chinese Farm Tractors Industry, 2016 Market ...

November 2016 $ 3000

Global And Chinese Garden Cultivator Industry, 2016 Mar ...

November 2016 $ 3000

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.