Ag machinery market keeps growing
The global demand for ag machinery is expected to further increase in the years to come. FederUnacoma president Mariateresa Maschio, forecasts that more countries will invest in mechanizing agriculture, despite the current downturn. FederUnacoma organizes the upcoming EIMA International tradeshow in Bologna, Italy, where new technology will be on display. The EIMA International exhibition in […]
The global demand for ag machinery is expected to further increase in the years to come. FederUnacoma president Mariateresa Maschio, forecasts that more countries will invest in mechanizing agriculture, despite the current downturn. FederUnacoma organizes the upcoming EIMA International tradeshow in Bologna, Italy, where new technology will be on display.
The EIMA International exhibition in Bologna, Italy, is recognized as a major international ag machinery trade fair. The exhibition of machinery, equipment and components for agriculture and gardening, whose 46th annual event will be held in Bologna from 6 to 10 November, will see the participation of attendees from 150 countries, ranging from the United States to Thailand, and from Australia to Nigeria.
Despite the current downturn in the ag machinery market, organizer FederUnacoma (Italian Agricultural Machinery Manufacturers Federation), expects the 2024 event to equal or even surpass the previous edition. This was held in 2022 and attracted 327,000 attendees, including 57,000 visitors from abroad.
According to FederUnacoma president Mariateresa Maschio, the international ag machinery market accounted for around USD 164 billion in 2023, of which USD 57 billion related to tractors and USD 73 billion to machinery and equipment. USD 34 billion was allocated to the components sector.
“Worldwide data on trade in tractors indicates a average growth of 4.7% per year over the past 15 years”, said Mariateresa Maschio. “And the demand for machinery is set to grow further”.
“Investments in agricultural machinery are necessary, and involve an ever-increasing number of countries, since agriculture is a strategic sector for food security, as well as for the supply of raw materials for industry and energy”, according to the FederUnacoma President.
“The ag machinery business is historically concentrated in the four large markets of India (over 900,000 tractors registered in 2023), China (380,000), the United States (250,000) and Europe (158,000). In this perspective the demand for machinery will grow in countries like Brazil, Argentina, Australia, Indonesia, Turkey and many other. This is why a trade fair like EIMA International is an important meeting point to facilitate this development”, Mariateresa Maschio concludes.
Evolution of international tractor and ag machinery sales (source: exportplanning.com)
2023 tractor sales volumes in traditional global markets
Emerging markets in agriculture production
In the past months, FederUnacoma toured 14 countries (from Argentina to Morocco, from Brazil to Qatar and from the United States to Tanzania), in order to promote the upcoming EIMA tradeshow. This biennial event will take place from November 6-10 in Bologna, Italy.
