|Study Period:||2016 - 2026|
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The Australian agricultural machinery market is projected to register a CAGR of 4.3% during the forecast period (2021-2026). The global COVID-19 pandemic has caused a significant impact on the Australian agricultural machinery market. The supply chains were disrupted, and manufacturing industries were closed due to restrictions aimed at containing coronavirus, which, in turn, affected the availability of agricultural inputs and operations of hiring agricultural machinery service providers. The shortage of labor and scarce availability of raw materials resulted in the decreased production efficiency for the manufacturing of agricultural machinery. In Australia, around 4% of the country’s GDP is generated from agriculture. The mechanization of agricultural processes has been advancing steadily in the country. The demand for these machinery has largely been due to the need to improve the quality of productivity and the decline in the population involved in farming in the region. Large swathes of land availability enable the country to cover its needs and export products to other countries. Going forward, high economic growth is projected in the country over the forecast period, which is further expected to drive the agricultural machinery market. However, a spike in the price of agricultural commodities has posed a threat to the adoption of farming equipment by the farmers over the past few years. The Australian market is fragmented, with a wide range of companies lowering the bargaining power of manufacturers. Four of the leading operators, together, occupy less than 10.0% of the value share in equipment manufacturing. Companies like John Deere, CNH, etc., have a perceptible presence in Australia but do not have manufacturing units in the country.
Scope of the Report
The Australian Agricultural Machinery Market is segmented by type into tractors (below 40 HP,40-120 HP, and above 120 HP), equipment (plows, harrows, rotavators and cultivators, seed and fertilizer drills, and other equipment), irrigation machinery (sprinkler irrigation, drip irrigation, and other irrigation machinery), harvesting machinery (combine harvesters, forage harvesters, and other harvesting machinery), and haying and forage machinery (mowers and conditioners, balers, and other haying and forage machinery).
Key Market Trends
Growing Preference for Farm Mechanization
The growing population, the rise in labor cost, and increasing investments by leading agricultural machinery manufacturers, such as Agco, Escort Group, Mahindra & Mahindra, John Deere, and Kubota, in their tractor product lines are expected to influence the tractor market in Australia during the forecast period, which, in turn, may boost the Australian agriculture machinery market. Anticipated growth in the tractor market can also be attributed to the growing government support, increasing demand for various HP types of tractors, and easy availability of financing.
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Rise in Technological Advancements
Farmers in the region are looking for tractors with tailored features, which can fulfill their needs for effective farming. So, in order to meet consumer demand, many international and domestic agriculture machinery manufacturers are coming up with new technologically advanced tractors that can handle various farming applications. For instance, in 2017, Kubota launched several new products for mid-size farms, like the M7-1 tractor with 170 horsepower for Australia Farmland. The premium M7-1 features continuously variable transmission (CVT) and integrated touch screen terminals and emission technologies.
The market is highly competitive, owing to the presence of a few prominent players, accounting for more than half of the market. The key players in the market include Deere and Company, AGCO Corporation, CNH Industrial NV, Iseki & Co. Ltd, and Kubota Corporation. The main strategy adopted by the key players is to invest in R&D to encourage innovation and maintain a strong market base.
In January 2021, AGCO signed a partnership with NEVONEX to enable farmers to deploy enhanced digital services and functions based on NEVONEX on their existing AGCO farm equipment.
In July 2020, Kubota Australia launched a Land Pride Quick Hitch, a unique product that allows farmers to attach and remove various land pride instruments in an easy and safe manner.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
188.8.131.52 Below 40 HP
184.108.40.206 40-120 HP
220.127.116.11 Above 120 HP
18.104.22.168 Rotovators and Cultivators
22.214.171.124 Seed and Fertilizer Drills
126.96.36.199 Other Equipment
5.1.3 Irrigation Machinery
188.8.131.52 Sprinkler Irrigation
184.108.40.206 Drip Irrigation
220.127.116.11 Other Irrigation Machinery
5.1.4 Harvesting Machinery
18.104.22.168 Combine Harvesters
22.214.171.124 Forage Harvesters
126.96.36.199 Other Harvesting Machinery
5.1.5 Haying and Forage Machinery
188.8.131.52 Mowers and Conditioners
184.108.40.206 Other Haying and Forage Machinery
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Escort Limited
6.3.2 Deere & Company
6.3.3 CNH Industrial NV
6.3.5 AGCO Corporation
6.3.6 Same Deutz-Fahr
6.3.7 Yanmar Co. Ltd
6.3.8 Kuhn Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Australia Agricultural Machinery Market market is studied from 2016 - 2026.
What is the growth rate of Australia Agricultural Machinery Market?
The Australia Agricultural Machinery Market is growing at a CAGR of 4.3% over the next 5 years.
Who are the key players in Australia Agricultural Machinery Market?
John Deere Australia, Kubota Australia, Kuhn, Escorts Limited, TAFE are the major companies operating in Australia Agricultural Machinery Market.