World Agricultural Equipment Market

  • June 2012
  • -
  • Freedonia
  • -
  • 379 pages

World demand to rise 6.7% annually through 2016

World demand for agricultural equipment is expected to increase 6.7 percent per year through 2016 to $173.5 billion. Growth will be driven primarily by sales gains in rapidly developing nations -- particularly China, Brazil, and India -- as these countries continue to mechanize their agricultural sectors. Population expansion and strong economic growth in these nations will put increasing pressure on their agricultural sectors to become more efficient and productive, resulting in a rise in farm machinery sales. Agricultural machinery demand in the Asia/Pacific region was more than twice that of any other region in 2011. China and India will be the primary nations fueling future market advances in this region, although other smaller markets, including Thailand and Indonesia, will also expand rapidly through 2016. The Central and South America region will post strong sales gains through 2016 as well, powered by growth in Brazil and other countries with large, increasingly mechanized agricultural sectors, including Argentina. In the industrialized world, North America and Western Europe will both record below-average growth in farm equipment sales through 2016. Demand will be driven by technological advances, as the efficiency gains afforded by newer equipment with more sophisticated technology will make it economically feasible for farmers to replace their machinery more frequently. Conversely, many farmers delayed replacing their older machinery during the 2008-2010 economic crisis, avoiding major purchases of new machinery because of an uncertain economic environment. As a result, 2011 was the beginning of a spike in demand for agricultural machinery as better economic conditions prompted farmers to finally replace older machines. Since the average replacement cycle is generally eight or nine years, high demand in 2011 means many farmers may not replace machinery in 2016, constraining agricultural equipment demand through the forecast period.

Plowing, cultivating machinery to lead gains

Farm tractors the largest product segment in 2011, represented 30 percent of all agricultural machinery sales. Plowing and cultivating machinery is expected to be the fastest growing product type from 2011 to 2016, expanding 9.1 percent per year as farmers in developing nations purchase larger and more complex tilling equipment to in-crease the productivity of their land. Parts and attachments demand is projected to increase at the slowest rate, climbing 5.4 percent per annum through 2016 to $27.6 billion as the durability of new machinery continues to improve, limiting repair and maintenance spending.

China to overtake US as biggest manufacturer

In 2011, the United States held a slight lead over China as the largest producer of farm machinery, with industry shipments of $23.1 billion. However, the Chinese agricultural equipment manufacturing industry is expected to expand rapidly through 2016, while production growth in the United States will be more moderate. As a result, China will overtake the US to become the biggest manufacturer of farm machinery in the world, with 2016 industry shipments 70 percent greater than those of the US. Manufacturing output will also rise at a fast pace in Brazil and India, supported by the strong local markets and rapidly industrializing economies in these nations.

Study coverage

This upcoming industry study presents historical demand data for the years 2001, 2006 and 2011, plus forecasts for 2016 and 2021 by type, world region and for 20 countries. The study also considers market environment factors, evaluates company market share and profiles industry competitors.

Table Of Contents


TABLE OF CONTENTS

INTRODUCTION xiii

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Global Macroeconomic Environment 5
Recent Historical Trends 5
World Economic Outlook 7
World Demographic Overview 11
Population 12
Nonurban Population 13
World Arable Land 15
World Agricultural Outlook 17
World Agricultural Land Usage 19
Wheat 23
Corn 24
Rice 25
Pasture and Forage 26
Soybeans 27
Other Crops 28
Labor Force Productivity in Agriculture 29
Legal and Regulatory Environment 31
Pricing Patterns 33
Technology Trends 36
Used and Rebuilt Equipment 39

III. WORLD SUPPLY and DEMAND 41

General 41
Regional Overview 42
Demand 42
Production 48
International Trade 51
Demand by Type 53
Farm Tractors 55
Harvesting Machinery 58
Planting and Fertilizing Machinery 60
Haying Machinery 62
Plowing and Cultivating Machinery 64
Other Agricultural Equipment 66
Parts and Attachments 68

IV. NORTH AMERICA 71

General 71
Agricultural Equipment Supply and Demand 72
Agricultural Equipment Outlook 76
United States 77
Canada 83
Mexico 88

V. WESTERN EUROPE 94

General 94
Agricultural Equipment Supply and Demand 95
Agricultural Equipment Outlook 99
Germany 100
France 105
Italy 111
United Kingdom 116
The Netherlands 121
Austria 125
Spain 130
Other Western Europe 136

VI. ASIA/PACIFIC 141

General 141
Agricultural Equipment Supply and Demand 142
Agricultural Equipment Outlook 147
China 148
India 154
Japan 159
South Korea 165
Australia 170
Indonesia 179
Other Asia/Pacific 184

VII. OTHER REGIONS 189

Central and South America 189
General 189
Agricultural Equipment Supply and Demand 190
Agricultural Equipment Outlook 193
Brazil 194
Other Central and South America 199
Eastern Europe 204
General 204
Agricultural Equipment Supply and Demand 206
Agricultural Equipment Outlook 208
Russia 209
Other Eastern Europe 214
Africa/Mideast 219
General 219
Agricultural Equipment Supply and Demand 221
Agricultural Equipment Outlook 224
Turkey 226
Other Africa/Mideast 231

VIII. INDUSTRY STRUCTURE 236

General 236
Industry Composition 237
Market Share 239
Product Development and Manufacturing 243
Marketing and Distribution 245
Cooperative Agreements 247
Financial Requirements 254
Mergers and Acquisitions 255
Company Profiles 257
AGCO Corporation 258
Al-Ghazi Tractors, see Fiat Industrial
Alamo Group Incorporated 264
AMAZONEN-Werke H. Dreyer GmbH and Company KG 269
ARGO SpA 271
Berthoud Agricole, see Groupe Exel Industries
Bomford Turner, see Alamo Group
Bucher Industries AG 273
Bush Hog, see Alamo Group
Caruelle-Nicolas, see Groupe Exel Industries
Caterpillar Incorporated 278
Changzhou Dongfeng Agricultural Machinery Group
Company Limited 281
China National Machinery Industry Corporation 283
CLAAS KGaA mbH 286
CNH Global, see Fiat Industrial
Constructions Mecaniques Champenoises, see Groupe
Exel Industries
Crary Industries, see Yamabiko
Daedong Industrial Company Limited 291
Deere and Company 293
DeLaval International, see Tetra Laval International
Earthmaster, see Alamo Group
ECHO, see Yamabiko
Escorts Limited 300
Fiat Industrial SpA 302
First Tractors, see China National Machinery Industry
Foton Lovol International Heavy Industries Company
Limited 309
GIMA, see AGCO and CLAAS mbH
Gregoire, see Same Deutz-Fahr
Groupe Exel Industries 310
GSI Holdings, see AGCO
Hardi International, see Groupe Exel Industries
Herschel, see Alamo Group
Industrias John Deere, see Deere and Company
Iseki and Company Limited 314
Jiangsu World Agricultural Machinery, see WORLD
Group
Kanzaki Kokyukoki Manufacturing, see Yanmar
Krause, see Bucher Industries
Kubota Corporation 317
Kuhn, see Bucher Industries
Kukje Machinery Company Limited 323
Kverneland, see Kubota
Laverda, see AGCO and ARGO
Luoyang Zhongshou Machinery and Equipment, see China
National Machinery Industry
MandW Gear, see Alamo Group
Mahindra and Mahindra Limited 325
Matrot Equipements, see Groupe Exel Industries
McConnel, see Alamo Group
Netafim Limited 328
Perkins Engine, see Caterpillar
Preciculture, see Groupe Exel Industries
Rhino, see Alamo Group
Same Deutz-Fahr SpA 331
Shandong Shifeng Group Company Limited 335
Shanghai New Holland Agricultural Machinery, see Fiat
Industrial
SIAM KUBOTA, see Kubota
SINOMACH, see China National Machinery Industry
Societe Nouvelle Moreau, see Groupe Exel Industries
Tecnoma Technologies, see Groupe Exel Industries
Tetra Laval International SA 337
Tractors and Farm Equipment Limited 339
Transaxle Manufacturing of America, see Deere and
Company
Türk Traktör ve Ziraat Makineleri, see Fiat Industrial
Twose of Tiverton, see Alamo Group
Valmont Industries Incorporated 341
Valu-Bilt Tractor Parts, see Alamo Group
WORLD Group 343
Yamabiko Corporation 345
Yanmar Company Limited 347
YTO Group, see China National Machinery Industry
ZETOR TRACTORS as 351
Additional Companies Mentioned in the Study 353

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 World Gross Domestic Product by Region 11
2 World Population by Region 13
3 World Nonurban Population by Region 14
4 World Arable Land by Country, 2011 17
5 World Agricultural Value Added by Region 19
6 World Agricultural Land Usage by Region and Crop 21
7 Labor Force Productivity in Agriculture for Selected
Countries, 2011 30
8 World Agricultural Equipment Pricing Patterns 35

SECTION III -- WORLD SUPPLY and DEMAND

1 World Agricultural Equipment Demand by Region 45
2 World Agricultural Equipment Shipments by Region 50
3 World Agricultural Equipment Net Exports by Region 53
4 World Agricultural Equipment Demand by Type 54
5 World Farm Tractor Demand by Region 57
6 World Harvesting Machinery Demand by Region 60
7 World Planting and Fertilizing Machinery Demand by Region 62
8 World Haying Machinery Demand by Region 64
9 World Plowing and Cultivating Machinery Demand by Region 66
10 World Demand for Other Agricultural Equipment by Region 68
11 World Agricultural Equipment Parts and Attachments Demand
by Region 70

SECTION IV -- NORTH AMERICA

1 North America: Agricultural Equipment Supply and Demand 74
2 North America: Agricultural Equipment Demand by Type 77
3 United States: Agricultural Equipment Supply and Demand 81
4 United States: Agricultural Equipment Demand by Type 83
5 Canada: Agricultural Equipment Supply and Demand 86
6 Canada: Agricultural Equipment Demand by Type 88
7 Mexico: Agricultural Equipment Supply and Demand 92
8 Mexico: Agricultural Equipment Demand by Type 93

SECTION V -- WESTERN EUROPE

1 Western Europe: Agricultural Equipment Supply and Demand 97
2 Western Europe: Agricultural Equipment Demand by Type 100
3 Germany: Agricultural Equipment Supply and Demand 103
4 Germany: Agricultural Equipment Demand by Type 105
5 France: Agricultural Equipment Supply and Demand 109
6 France: Agricultural Equipment Demand by Type 110
7 Italy: Agricultural Equipment Supply and Demand 114
8 Italy: Agricultural Equipment Demand by Type 115
9 United Kingdom: Agricultural Equipment Supply and Demand 119
10 United Kingdom: Agricultural Equipment Demand by Type 120
11 Netherlands: Agricultural Equipment Supply and Demand 123
12 Netherlands: Agricultural Equipment Demand by Type 125
13 Austria: Agricultural Equipment Supply and Demand 128
14 Austria: Agricultural Equipment Demand by Type 130
15 Spain: Agricultural Equipment Supply and Demand 134
16 Spain: Agricultural Equipment Demand by Type 135
17 Other Western Europe: Agricultural Equipment Supply
and Demand 139
18 Other Western Europe: Agricultural Equipment Demand
by Type 140

SECTION VI -- ASIA/PACIFIC

1 Asia/Pacific: Agricultural Equipment Supply and Demand 145
2 Asia/Pacific: Agricultural Equipment Demand by Type 148
3 China: Agricultural Equipment Supply and Demand 152
4 China: Agricultural Equipment Demand by Type 154
5 India: Agricultural Equipment Supply and Demand 157
6 India: Agricultural Equipment Demand by Type 159
7 Japan: Agricultural Equipment Supply and Demand 163
8 Japan: Agricultural Equipment Demand by Type 164
9 South Korea: Agricultural Equipment Supply and Demand 168
10 South Korea: Agricultural Equipment Demand by Type 169
11 Australia: Agricultural Equipment Supply and Demand 172
12 Australia: Agricultural Equipment Demand by Type 174
13 Thailand: Agricultural Equipment Supply and Demand 177
14 Thailand: Agricultural Equipment Demand by Type 178
15 Indonesia: Agricultural Equipment Supply and Demand 182
16 Indonesia: Agricultural Equipment Demand by Type 183
17 Other Asia/Pacific: Agricultural Equipment Supply
and Demand 187
18 Other Asia/Pacific: Agricultural Equipment Demand by Type 188

SECTION VII -- OTHER REGIONS

1 Central and South America: Agricultural Equipment Supply
and Demand 192
2 Central and South America: Agricultural Equipment Demand
by Type 194
3 Brazil: Agricultural Equipment Supply and Demand 197
4 Brazil: Agricultural Equipment Demand by Type 199
5 Other Central and South America: Agricultural Equipment
Supply and Demand 202
6 Other Central and South America: Agricultural Equipmen
Demand by Type 204
7 Eastern Europe: Agricultural Equipment Supply and Demand 207
8 Eastern Europe: Agricultural Equipment Demand by Type 209
9 Russia: Agricultural Equipment Supply and Demand 213
10 Russia: Agricultural Equipment Demand by Type 214
11 Other Eastern Europe: Agricultural Equipment Supply
and Demand 218
12 Other Eastern Europe: Agricultural Equipment Demand
by Type 219
13 Africa/Mideast: Agricultural Equipment Supply and Demand 223
14 Africa/Mideast: Agricultural Equipment Demand by Type 225
15 Turkey: Agricultural Equipment Supply and Demand 229
16 Turkey: Agricultural Equipment Demand by Type 230
17 Other Africa/Mideast: Agricultural Equipment Supply
and Demand 234
18 Other Africa/Mideast: Agricultural Equipment Demand
by Type 235

SECTION VIII -- INDUSTRY STRUCTURE

1 World Agricultural Equipment Sales by Company, 2011 238
2 Selected Cooperative Agreements 249
3 Selected Acquisitions and Divestitures 257

LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 World Agricultural Land Usage by Region, 2011 22
2 World Agricultural Land Usage by Crop, 2011 22
3 Leading Wheat Harvesting Countries, 2011 23
4 Leading Corn Harvesting Countries, 2011 25
5 Leading Rice Harvesting Countries, 2011 26
6 Leading Pasture and Forage Countries, 2011 27
7 Leading Soybean Harvesting Countries, 2011 28
8 World Agricultural Equipment Pricing Patterns, 2001-2021 36

SECTION III -- WORLD SUPPLY and DEMAND

1 World Agricultural Equipment Demand by Region,
2001-2021 46
2 Additional Agricultural Equipment Demand
from 2011 to 2016 by Region 46
3 World Agricultural Machinery Demand Projected 2011-2016
Annual Rate of Growth 47
4 World Agricultural Equipment Shipments by Region,
2001-2021 51
5 World Agricultural Equipment Demand by Type, 2011 55
6 World Farm Tractor Demand by Region, 2001-2021 58

SECTION IV -- NORTH AMERICA

1 North America Agricultural Equipment Demand by Country,
2001-2021 75
2 North America Agricultural Equipment Demand by Type,
2011 75

SECTION V -- WESTERN EUROPE

1 Western Europe Agricultural Equipment Demand by Country,
2001-2021 98
2 Western Europe Agricultural Equipment Demand by Type,
2011 98

SECTION VI -- ASIA/PACIFIC

1 Asia/Pacific Agricultural Equipment Demand by Country,
2001-2021 146
2 Asia/Pacific Agricultural Equipment Demand by Type,
2011 146

SECTION VII -- OTHER REGIONS

1 Central and South America Agricultural Equipment Demand
by Type, 2011 193
2 Eastern Europe Agricultural Equipment Demand by Type,
2011 208
3 Africa/Mideast Agricultural Equipment Demand by Type,
2011 224

SECTION VIII -- INDUSTRY STRUCTURE

1 World Agricultural Equipment Market Share by Company,
2011 240

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