The global agricultural machinery market has been undergoing major changes, with rises and falls in the relative weight of the main countries that make up the business.
The tractors are not exempt from these ups and downs. Quite the contrary.
With the 2023 data on the table, you can see cases of dizzying increases in the level of activity and others that show pronounced falls.
Who wins and who loses in the global tractor business?
General market
First of all, let’s look at some general numbers for the global agricultural machinery market in 2023.
During last year, the sector’s total sales totaled US$ 164,000 millionwith a growth of +3% compared to 2022 (US$ 159 million).
Of that total, the tractors they contributed U$S 57,000 millionwith an increase of +2% in relation to the previous year (US$ 55.9 billion).
The rest of the cake was divided among the other items of machinery (US$ 73,000 million) and agroparts (US$34,000 million).
The figures come from the latest report from Federunacomathe entity that brings together agricultural machinery manufacturers in Italy.
Tractors
In the particular case of the tractorsalthough, as already mentioned, turnover grew +2% Compared to 2022, this was due to the increase in average prices, mainly caused by the higher cost of raw materials.
Measured in units, sales fell considerably compared to the previous year. Worldwide, in 2023, 1,000 vehicles were sold 2.2 million unitswith a drop of -8% in relation to 2022 (2.4 million units).
TOP TEN
Major tractor markets in the world. In units.
see full list
Fountain: Maquinac.
Sharing the cake
In the breakdown of the most representative markets of the activity, although the general framework is common to all actors, the particular situations were very different:
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