Canada Agricultural Machinery Market Growth, Forecast | 2031

Segments - Canada Agricultural Machinery Market by Types (Tractors [Less than 40 HP, 40 HP to 99 HP, and Greater than 100 HP], Plugging & Cultivating Machinery [Harrows, Rotovators & Cultivators, Ploughs, and Others], Planting Machinery [Spreaders, Seed Drills, Planters, and Others], Sprayer, Irrigation Machinery [Sprinkler Irrigation, Drip Irrigation, and Others], Harvesting Machinery [Forage Harvesters, Combine Harvesters, and Others], and Haying & Forage Machinery [Balers, Mowers & Conditioners, and Others]) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Rucha Phatak

Report Description

The Canada agricultural machinery market size was USD 7.23 Billion in 2022 and is likely to reach USD 13.98 Billion by 2031 , expanding at a CAGR of 7.6% during 2023–2031.The growth of the market is attributed to the rising demand for large-capacity farm machinery due to shortage in farm labor and increasing government support for farmers in the form of loan waivers, credit finance, & subsidized loans.

The agricultural machinery industry produces and maintains tractors, machineries, and equipment used in agriculture. The introduction of new subsidies to the farmers and loan schemes for adapting modern methods is significantly driving the growth of the market. The recent development in farm mechanization for irrigation and harvesting of crops are responsible for increasing agricultural yields and helping in keeping the labor costs low. Government efforts to bring in farmers to the industrial fold by assuring timely assistance with crop seeds, fertilizers, and right prices for the crops, has influenced the agricultural industry drastically.

Canada Agricultural Machinery Market Outlook

Farm monitoring platforms make large scale adoption of agricultural machinery. The farm monitoring platforms have gained prominence with the evolution of IoT projects in farming and agriculture sector. The efficient use of data owing to the technological advancement for improving farming practice has drastically changed the traditional methods of farming. Additionally, the increasing adoption of farm control monitoring system for allowing farmers to have overall control of their equipment have helped farmers in multiple ways. The livestock monitoring and control of rain gauges and irrigation gates have helped in saving resources and excessive maintenance costs.

The COVID-19 pandemic had a significant impact on the growth of various industries including agricultural industry. The outbreak of coronavirus disease resulted into implication of stringent regulations and worldwide lockdowns. The pandemic situation disrupted the supply chain, manufacturing, and transportation activities of agriculture equipment. The dropped down in various economies foiled the plans of various procurements for cultivation. Therefore, the coronavirus outbreak restricted the growth of the agricultural machinery market.

Market Trends, Drivers, Restraints, and Opportunities

Rising farm labor costs is the key factor anticipated to drive the market growth during the forecast period.
Availability of low-interest rates on loans and investment grants are the major factors expected to spur the market growth in the coming years.
Growing technological development in agricultural machinery is projected to boost the market expansion during the projected timeline.
High cost of agricultural equipments in emerging economies is expected to hamper the growth of market in the coming years.
Government subsidies for acquiring fertilizers, seeds, & agriculture equipment and technological innovation to develop innovative agricultural machinery are some of the factors that are anticipated to create lucrative opportunities for the market in the long run.

Scope of Agricultural Machinery Market Report

The report on the Canada 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	The Canada Agricultural Machinery Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Tractors [Less than 40 HP, 40 HP to 99 HP, and Greater than 100 HP], Plugging & Cultivating Machinery [Harrows, Rotovators & Cultivators, Ploughs, and Others], Planting Machinery [Spreaders, Seed Drills, Planters, and Others], Sprayer, Irrigation Machinery [Sprinkler Irrigation, Drip Irrigation, and Others], Harvesting Machinery [Forage Harvesters, Combine Harvesters, and Others], and Haying & Forage Machinery [Balers, Mowers & Conditioners, and Others])
Country	Canada
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Deere & Company; Kubota Canada Ltd; CNH Industrial America LLC; KUHN NORTH AMERICA, INC.; and CLAAS KGaA mbH

The Canada Agricultural Machinery Market Segment Insight

Tractors segment is anticipated to register at a significant CAGR

On the basis of types, the market is segmented into tractors, plugging & cultivating machinery, planting machinery, sprayer, irrigation machinery, harvesting machinery, and haying & forage machinery. The tractors segment is further categorized as less than 40 HP, 40 HP to 99 HP, and greater than 100 HP. The plugging & cultivating machinery segment is divided into harrows, rotovators & cultivators, ploughs, and others. The planting machinery segment is further segregated into spreaders, seed drills, planters, and others. The irrigation machinery segment is classified as sprinkler irrigation, drip irrigation, and others.

The harvesting machinery segment is classified as forage harvesters, combine harvesters, and others. The haying &forage machinery segment is further divided into balers, mowers & conditioners, and others. The tractors segment is anticipated to register a significant CAGR during the forecast period owing to the increasing farm mechanization in the country. Moreover, the increasing keen on purchasing high-end tractor, efforts to improve crop yields, and improved farm efficiencies are the some of the major factors expected to fuel the growth of the market segment in the coming years.

On the other hand, the plugging & cultivating machinery segment is projected to boost the growth of the market segment during the projected period due to the rising demand for smart equipment that are capable of providing accurate metrics on soil quality and vital parameters for a good harvest. Furthermore, the increasing product launches, rising initiatives by equipment manufacturers, and growing demand for technological advancement are key factors that are expected to grow the market segment at a rapid pace in the projected timeline.

Segments

Types

Tractors
- Less than 40 HP
- 40 HP to 99 HP
- Greater than 100 HP
Plugging & Cultivating Machinery
- Harrows
- Rotovators & Cultivators
- Ploughs
- Others
Planting Machinery
- Spreaders
- Seed Drills
- Planters
- Others
Sprayer
Irrigation Machinery
- Sprinkler Irrigation
- Drip Irrigation
- Others
Harvesting Machinery
- Forage Harvesters
- Combine Harvesters
- Others
Haying & Forage Machinery
- Balers
- Mowers & Conditioners
- Others

Country

Canada

Key Players

Deere & Company
Kubota Canada Ltd
CNH Industrial America LLC
KUHN NORTH AMERICA, INC.
CLAAS KGaA mbH

Competitive Landscape

The key players competing in the Canada agricultural machinery market are Deere & Company; Kubota Canada Ltd; CNH Industrial America LLC; KUHN NORTH AMERICA, INC.; and CLAAS KGaA mbH. Some of these players are engaging in heavy investments in research & development activities and launching agricultural machinery to increase their market shares.

In June 2020, CLAAS launched a pair of Lexion 6000 Series straw walker that combines the Lexion 6800 and Lexion 6900 in 2020. The company designed the 6000 Series for markets in western Canada to increase the harvest efficiency and productivity of the country. The newly launched models helped to save time, make the job easier for farmers, and overcome the threshing grain problems & straw damages.

Canada Agricultural Machinery Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agricultural Machinery Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Agricultural Machinery Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Agricultural Machinery Market - Supply Chain
  4.5. Global Agricultural Machinery Market Forecast
     4.5.1. Agricultural Machinery Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Agricultural Machinery Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Agricultural Machinery Market Absolute $ Opportunity
5. Global Agricultural Machinery Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Agricultural Machinery Market Size and Volume Forecast by Types
     5.3.1. Tractors
     5.3.2. Plugging & Cultivating Machinery
     5.3.3. Planting Machinery
     5.3.4. Sprayer
     5.3.5. Irrigation Machinery
     5.3.6. Harvesting Machinery
     5.3.7. Haying & Forage Machinery
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Agricultural Machinery Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Agricultural Machinery Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Agricultural Machinery Demand Share Forecast, 2019-2026
7. North America Agricultural Machinery Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Agricultural Machinery Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Agricultural Machinery Market Size and Volume Forecast by Types
     7.4.1. Tractors
     7.4.2. Plugging & Cultivating Machinery
     7.4.3. Planting Machinery
     7.4.4. Sprayer
     7.4.5. Irrigation Machinery
     7.4.6. Harvesting Machinery
     7.4.7. Haying & Forage Machinery
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Agricultural Machinery Demand Share Forecast, 2019-2026
8. Latin America Agricultural Machinery Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Agricultural Machinery Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Agricultural Machinery Market Size and Volume Forecast by Types
     8.4.1. Tractors
     8.4.2. Plugging & Cultivating Machinery
     8.4.3. Planting Machinery
     8.4.4. Sprayer
     8.4.5. Irrigation Machinery
     8.4.6. Harvesting Machinery
     8.4.7. Haying & Forage Machinery
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Agricultural Machinery Demand Share Forecast, 2019-2026
9. Europe Agricultural Machinery Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Agricultural Machinery Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Agricultural Machinery Market Size and Volume Forecast by Types
     9.4.1. Tractors
     9.4.2. Plugging & Cultivating Machinery
     9.4.3. Planting Machinery
     9.4.4. Sprayer
     9.4.5. Irrigation Machinery
     9.4.6. Harvesting Machinery
     9.4.7. Haying & Forage Machinery
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Agricultural Machinery Demand Share Forecast, 2019-2026
10. Asia Pacific Agricultural Machinery Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Agricultural Machinery Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Agricultural Machinery Market Size and Volume Forecast by Types
     10.4.1. Tractors
     10.4.2. Plugging & Cultivating Machinery
     10.4.3. Planting Machinery
     10.4.4. Sprayer
     10.4.5. Irrigation Machinery
     10.4.6. Harvesting Machinery
     10.4.7. Haying & Forage Machinery
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Agricultural Machinery Demand Share Forecast, 2019-2026
11. Middle East & Africa Agricultural Machinery Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Agricultural Machinery Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Agricultural Machinery Market Size and Volume Forecast by Types
     11.4.1. Tractors
     11.4.2. Plugging & Cultivating Machinery
     11.4.3. Planting Machinery
     11.4.4. Sprayer
     11.4.5. Irrigation Machinery
     11.4.6. Harvesting Machinery
     11.4.7. Haying & Forage Machinery
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Agricultural Machinery Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Agricultural Machinery Market: Market Share Analysis
  12.2. Agricultural Machinery Distributors and Customers
  12.3. Agricultural Machinery Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Deere & Company
     12.4.2. Kubota Canada Ltd
     12.4.3. CNH Industrial America LLC
     12.4.4. KUHN NORTH AMERICA, INC.
     12.4.5. CLAAS KGaA mbH