According to the report, the global market for Agricultural Implements and Machinery is projected to reach $122.9 billion by 2017. There is a modest growth in the market is because of the increased demand for agricultural turn out due to fast expansion of global population and also due to arrival of sophisticated and technologically advanced machineries.   

Agricultural Equipment Industry Current Trends 

As per the reports, the Indian tractor industry, which has been hit with low sales due insufficient monsoon, mining curbs, delays in infrastructure projects, etc., might face a further slowdown in demand with the decision of the Commission for Agricultural Costs and Prices i.e. CACP to stick to last year’s minimum support price i.e. MSP of wheat at Rs 1,285 per quintal for 2013-14 as well.

IBISWorld analysis reveals that the Tractors and Agricultural Machinery Manufacturing industry has a medium level of capital intensity. In 2012, for every dollar spent on labor, $0.15 will be spent on capital.

Agricultural Equipment Major Industry Players 

Some of the major industry players in agricultural machinery are AGCO, Deere, and Great Plains Manufacturing in the US, CNH Global in Netherlands, Claas KGaA in Germany, Kubota in Japan, YTO Group and Shifeng Group in China.