Tractors & Agricultural Machinery Manufacturing in Canada
While industry products are ubiquitous on farms, revenue remains exposed to volatility of farm income, which affects farm demand for new equipment and consequently affects industry revenue. Industry operators experienced early revenue boosts as rising agricultural commodity prices, such as feed, increased farm incomes over years leading up to 2013; however, recent sharp price declines reversed farm income trends and reduced sales. Despite declining commodity prices, low interest rates gave room for increased borrowing and industry revenue experienced an increase in 2016 and 2017. However, declining feed prices are likely to hamper downstream demand in 2018. Over the next five years, the industry is not expected to grow. Rising interest rates and the long-lived nature of agricultural machinery is expected to limit long-term growth.
This industry manufactures agricultural machinery and equipment and powered home lawn and garden equipment. Agricultural equipment includes tractors, harvesting and seeding machinery and other machinery, such as grinders, mixers, wool presses and windmills.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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