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Agricultural Machinery Manufacturing
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US agricultural machinery manufacturing industry includes about 1,100 companies with combined annual revenue of about $24 billion. Major companies include Deere, AGCO, Alamo Group, and Great Plains Manufacturing. The industry is highly concentrated: the 50 largest companies generate more than 80 percent of revenue.
Worldwide, the agricultural machinery manufacturing industry generates about $100 billion in revenue, according to Freedonia Group. Europe, the US, and China are the largest markets. Major agricultural equipment manufacturers based outside the US include CNH Global (the Netherlands); Kubota (Japan); Claas KGaA (Germany); and YTO Group and Shifeng Group (China).
COMPETITIVE LANDSCAPE
Demand for agricultural machinery is driven by farm income and crop production projections for the next season and can vary highly year to year. The profitability of individual companies depends on the volume of products sold, since many manufacturing costs are fixed. Big companies have large economies of scale, especially in manufacturing tractors and combines. Small companies can be successful by making specialized equipment, especially tractor attachments. The industry is capital-intensive: annual revenue per employee is about $420,000.
Imports of agricultural equipment, primarily from countries such as Japan, Canada, China, Germany, and Mexico, make up about 30 percent of the US market. Exports account for about 30 percent of US production. Major export markets include Canada, Mexico, and Australia.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are tractors, self-propelled harvesting combines, tractor attachments, and other equipment used for crop production and farm animal management.
Large companies,...
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