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The Canada Agricultural Machinery Market is Segmented by Type into Tractors, Equipment, Irrigation Machinery, Harvesting Machinery, and Haying and Forage Machinery.
2016 - 2026
The Canadian agricultural machinery market is projected to record a CAGR of 4.5% during the forecast period (2020-2025).
For the purpose of this report, the machinery used in agricultural operations has been considered. The report does not cover machinery used for industrial and construction purposes, or multi-purpose tractors, machinery and equipment, used for both agricultural and non-agricultural operations.
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The need for sustainability in agrochemical management has induced the demand for highly-developed mechanical sprayers in recent years. The major demand in the region has emerged from self-propelled sprayers equipped with high-technology tools, such as automatic section control, data transmission, and direct injection, which further ensures accurate spreading of agriculture chemicals. According to Statistics Canada, the number of farms has witnessed a declining trend in recent years with 193,492 farms in 2016 as compared to 205,730 farms in 2011. Moreover, the number of farm operators has decreased from 293,925 in 2011 to 271,935 in 2016. Hence, due to a greater amount of labor required on field to meet the increasing demand for food crops, the farmers have been turning to self-propelled and tractor-mounted sprayers. This, in turn, has promoted the growth for agricultural machinery during the forecast period.
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Farming in Canada is being currently revolutionized by the rapid technological development in tractors. Farm costs are inevitable with the increasing demand for food crops, thus, making tractors as an inevitable part of efficient farming.The wave of modern technology has already been witnessed in tractors with the application of Artificial Intelligence-based tools for data transmission, for precise decision-making processes in cultivation. For instance, AGCO Fendt Guide Connect leader-follower technology connects two machines, including tractors through GIS, thus enabling the farmers to gain apt information. Also, the US-based agricultural machinery giant, John Deere, began enhancing the AI-based innovation process in tractors by acquiring the Artificial Intelligence start-up Blue River Technology in 2017. Such innovations are expected to induce the demand for technologically-developed tractors in the long run, thereby boosting its market growth.
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The market is highly competitive owing to the presence of 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 has been to invest in R&D to encourage innovation and maintain a strong market base. The advent of advanced technologies like Artificial Intelligence, Robotics, Google Earth, and growing number of government initiatives have driven the demand for agricultural machinery to rise.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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 Force 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 Less than 40 HP
184.108.40.206 40 HP to 99 HP
220.127.116.11 Greater than 100 HP
5.1.2 Ploughing and Cultivating Machinery
18.104.22.168 Rotovators and Cultivators
22.214.171.124 Other Equipment
5.1.4 Harvesting Machinery
126.96.36.199 Combine Harvesters
188.8.131.52 Other Harvesting Machinery
5.1.5 Haying and Forage Machinery
184.108.40.206 Mowers and Conditioners
220.127.116.11 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 CLAAS KGaA mbH
6.3.2 Deere & Company
6.3.3 CNH Industrial NV
6.3.4 Kubota Corporation
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