Farm Equipment Market

John Deere (US) and CNH Industrial (UK) are leading players in Farm Equipment Market

The rising global population and growing demand for food with superior quality are the key factors driving the growth of agriculture yield, which in turn has fueled the demand for farm mechanization and agriculture equipment. The agriculture equipment market is projected to grow at a CAGR of 4.04% during the forecast period, to reach a market size of USD 135.2 billion by 2025.

The agriculture equipment market is dominated by a few global players and comprises several regional players. Some of the key manufacturers and suppliers in the farm equipment market are John Deere (US), AGCO Corporation (US), CNH Industrial (UK), CLAAS KGaA GmbH (Germany), Kubota Corporation (Japan), Mahindra & Mahindra (India), SPF Group (Italy), J C Bamford Excavators (UK), and Iseki & Co. (Japan). The primary strategy adopted by these players to gain traction in the global agriculture equipment market is new product development. In April 2017, Mahindra & Mahindra, Ltd. launched a 24 hp 4WD small tractor targeting horticulture and row cropping applications. It is equipped with automatic depth and draft control (ADDC) feature and has 750 kg lift capacity and high ground clearance. In 2016, Claas KGaA mbH introduced CORIO and CORIO CONSPEED maize pickers. These models feature a flat working angle of 17° and a new bonnet design with streamlined sides, new folding mechanism, and linear and conical picking rollers.

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John Deere adopted strategies such as mergers and acquisitions, expansion, new product launch, and joint ventures/ collaborations to retain its position in the farm equipment market. For instance, in September 2018, it completed the acquisition of PLA, an Argentina based company with manufacturing facilities in Las Rosas, Argentina, and Canoas, Brazil. This acquisition would enable the company to extend its product offerings of sprayers, planters, and specialty products for agriculture. In March 2018, the company signed an agreement to acquire King Agro, a privately-held manufacturer of carbon fiber technology products with headquarters in Valencia, Spain and a production facility in Campana, Argentina. Further, in February 2017, it introduced a new 5R series of tractors. These tractors have 60˚ steering angle, two fully electronic transmission options, and improved forward visibility by 7% and upward visibility by 80% with the help of a panorama cab roof, six halogen work lights, and an interactive display panel. In March 2016, it entered into a joint venture with Hagie Manufacturing, a US-based player in high-clearance sprayers market. As a part of this joint venture, Deere & Company acquired the majority ownership of Hagie Manufacturing with the sales and service of Hagie equipment integrated with Deeres in a span of 15 months.

CNH Industrial adopted acquisition and expansion strategies to sustain its market position. In August 2018, Burdens Group, a dealer of New Holland, acquired Lincolnshire Motors Ltd. This acquisition would give Burdens Group coverage of most of Lincolnshire, which will allow a greater range of New Holland products, particularly tractors, including the T8 Smarttrax, and a larger range of combines, telehandlers, and baler products to be offered to customers. In January 2017, the company acquired the agricultural grass and soil business of Kongskilde Industries (Denmark). The agricultural grass and soil business segment develops, manufactures, and sells solutions for agricultural applications for Tillage, Seeding and Hay & Forage under various brands such as Kongskilde, Överum, and Howard. In September 2018, the company announced the opening of the Case IH dealership center together with Titan Machinery in Rivne, Ukraine. In this dealership, Titan Machinery includes offices for the sale of Case IH machines, well-equipped workshops for maintenance and repairs, as well as spare parts depots.

Related Reports:

Farm Equipment Market by Tractor Power Output (<30,31–70, 71–130, 131–250, >250), Drive (2WD, 4WD, & Autonomous), Combines, Baler, Sprayer, Implement (Plow & Cultivate, Sow, Harvest, Plant Protection & Fertilizer), Rental, & Region - Global Forecast to 2025

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Report Code
AT 2835
Published ON
Jan, 2019
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