Segments - Australian Agricultural Machinery Market by Types (Equipment’s [Seed & Fertilizer Drills, Harrows, Ploughs, Rotavators & Cultivators, and Others], Tractors [Above 120 HP, Below 40 HP, and 40-120 HP], Forage & Haying Machinery [Balers, Mowers & Conditioners, and Others], Irrigation Machinery [Drip Irrigation, Sprinkler Irrigation, and Others], and Harvesting Machinery [Forage Harvesters, Combine Harvesters, and Others]), Automations (Manual, Semi-automatic, and Automatic Equipment), and Country–Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
The Australian agricultural machinery market size was USD 3.26 Billion in 2022 and is expected to reach USD 6.15 Billion by 2031 expand at significant CAGR 7.3% during forecast period 2023–2031. 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.
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.
Attributes |
Details |
Report Title |
Agricultural Machinery Market–Australian Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016-2021 |
Forecast Period |
2023-2031 |
Segmentation |
Types (Equipment’s [Seed & Fertilizer Drills, Harrows, Ploughs, Rotavators & Cultivators, and Others], Tractors [Above 120 HP, Below 40 HP, and 40-120 HP], Forage & Haying Machinery [Balers, Mowers & Conditioners, and Others], Irrigation Machinery [Drip Irrigation, Sprinkler Irrigation, and Others], and Harvesting Machinery [Forage Harvesters, Combine Harvesters, and Others]), Automations (Manual, Semi-automatic, and Automatic Equipment) |
Country Scope |
Australia |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players covered in the Report |
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. |
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.
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.
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.
The Australian agricultural machinery market has been segmented on the basis of
Australia
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.