Australia Agricultural Machinery Market Size

Agricultural Machinery in Australia Market Analysis

The Australia Agricultural Machinery Market size is estimated at USD 4.11 billion in 2024, and is expected to reach USD 6.68 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).

Australia has vast regional differences, and the country has a lot of climate uncertainty. 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 agricultural machinery is mainly due to the need to improve the quality of productivity, along with 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.

Tractors and combine harvesters remain the most popular implements, with a well-developed ecosystem of manufacturing and sales by several regional and local manufacturers. According to the Tractor and Machinery Association of Australia (TMA), there was an increase in the sales of the small tractor segment in the country due to the support of the Instant Asset Write-off scheme.

Introducing innovative products by key players is anticipated to drive the demand for agricultural machinery in the coming years. For instance, in 2022, John Deere introduced the new range of P600 Precision Air Hoe drills to deliver up to a 15.5% larger working width and 24% weight reduction compared to the P500 to decrease compaction, labor time, and fuel consumption while optimizing productivity and seed to soil contact.