Australian Agricultural Machinery Market

The Australian agricultural machinery market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to minor utilization of land resources, increasing demand for high-quality agricultural products, and government initiatives in agriculture sector.

Agricultural machinery relates to the mechanical devices and structures used in farming and other agriculture. There are several types of agricultural equipment like hand tools and power tools to tractors, harvesting machinery, planting machinery, and irrigation machinery that are used to operate and tow on farms.

The covid-19 pandemic affected the demand and supply of Australian agricultural machinery market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

• Rising prices of contractor services is projected to boost the market in the coming years.
• Rapid development in agriculture sector is major factor fuelling the market during the forecast period.
• lack of awareness regarding the benefits of using agriculture equipment are anticipated to hamper market growth.
• Illiteracy and unavailability of proper resources is projected to hamper market growth in the coming years.
• R&D investment and technological advancement in agricultural machinery sector is projected to create lucrative opportunities for the market players.

Scope of Agricultural Machinery Market Report

The report on the Australian agricultural machinery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Agricultural Machinery Market Segment Insights

The tractors segment accounts for key share of the market

Based on types, the Australian agricultural machinery market is divided into equipment’s, tractors, forage & haying machinery, irrigation machinery, and harvesting machinery. The equipment’s segment is sub-segmented into seed & fertilizer drills, harrows, ploughs, rotavators & cultivators, and others. The tractors segment is sub-segmented into above 120 HP, below 40 HP, and 40-120 HP.

The agricultural forage & haying machinery segment is sub-segmented into balers, mowers & conditioners, and others. The irrigation machinery segment is sub-segmented into drip irrigation, sprinkler irrigation, and others. The harvesting machinery segment is sub-segmented into forage harvesters, combine harvesters, and others. The tractors segment accounts for a key share of the market.

Growth of the market is attributed to rapidly increasing population and decreased percentage of labors. The harvesting machinery are anticipated to expand at a rapid pace during the forecast period due to factors such as implementation of precision farming, increasing profitability, and increase in the adoption of mechanized farming.

The manual segment accounts for major share of the market

Based on automations, the Australian agricultural machinery market is fragmented into manual, semi-automatic, and automatic equipment. The manual segment accounts for a major share of the market. Growth of the market is attributed to improvement in agricultural production, increasing cultivation efficiencies on farms, and minor interest rates.

The semi-automatic segment is anticipated to expand at a rapid pace during the forecast period due to factors such as large-scale manufacturing of agricultural equipment, surge in adoption of tractors, and constant technological advancements in harvesting machinery.

Geographical Outlook

Australian agricultural machinery market is expected to grow at a significant CAGR. Agriculture makes more than 40% of the total exports in Australia. Furthermore, increasing development and research for technological advancement in the agricultural machinery are enhancing the market growth during the forecast period.

Segments

The Australian agricultural machinery market has been segmented on the basis of

Types

• Equipment’s
• Tractors
• Forage & Haying Machinery
• Irrigation Machinery
• Harvesting Machinery

Automations

• Manual
• Semi-automatic
• Automatic Equipment

Country

• Australia

Key Players

• TAFE
• Kubota Corp.
• John Deere Australia
• AGCO Australia Corp.
• CNH Industrial NV
• Mahindra and Mahindra
• Netafim Limited
• Massey Ferguson
• Escort Ltd
• Kubota Australia
• Same Deutz-Fahr
• Kuhn Group
• Yanmar Co., Ltd.

Competitive Landscape

Key players competing in the Australian agricultural machinery market include TAFE; Kubota Corp.; John Deere Australia; AGCO Australia Corp.; CNH Industrial NV; Mahindra and Mahindra; Netafim Limited; Massey Ferguson; Escort Ltd; Kubota Australia; Same Deutz-Fahr; Kuhn Group; and Yanmar Co., Ltd.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.