Industry Analysis & Industry Trends
The industry benefits from the essential nature of agricultural equipment, such as tractors and combines, to modern-day farming operations. Nevertheless, when farmers delayed new equipment purchases amid tough domestic and global economic conditions, demand for big-ticket items like large tractors plummeted. However, the industry has since emerged from its lows, driven by global farm demand. Over the next five years, improving economic conditions worldwide and larger downstream farming operations will stimulate demand for industry machinery... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Tractors and Agricultural Machinery Manufacturing industry is in the mature stage of its life cycle. Industry value added (IVA), which measures the industry's contribution to the overall economy, is projected to grow at an annualized rate of 0.2% over the 10 years to 2018. In contrast, GDP is forecast to grow 2.4% per year on average over the period. Although demand for tractors and agricultural machinery may wax and wane in any given year as farmers purchase new equipment or opt to maintain existing machinery, the industry benefits from the absolute necessity of powered machinery in modern day farming operations.
Increased automation is leading to a more efficient and profitable industry while reducing the need for human labor... purchase to read more