Industry Analysis & Industry Trends
Revenue for the Tractors and Agricultural Machinery Manufacturing industry has been relatively erratic over the past five years. In both the United States and Canada, grain and oilseed production significantly rebounded to meet increasing demand for food and biofuels, causing demand for machinery and equipment to increase. However, continued slumps in crop prices have led to a dip in farm income, hurting demand for industry products and causing revenue to fall each year since 2014. Despite these ups and downs, industry revenue is expected to grow over the five years to 2016. As the Canadian economy continues to recover, rising farm incomes will boost demand for tractors and agricultural machinery over the next five years... 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 2.9% over the 10 years to 2021. Similarly, GDP is forecast to grow 1.9% 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 labour... purchase to read more