Tractors & Agricultural Machinery Manufacturing in Canada
The Tractors and Agricultural Machinery Manufacturing industry in Canada has grown slowly but steady despite fluctuations in demand over the five years to 2019. The industry manufactures a variety of products, such as tractors and harvesters, that are essential to modern-day farming. Agricultural machinery is expensive and therefore the industry relies on credit availability. Low interest rates in North America during the period has maintained borrowing costs low for farms to the benefit of the industry. Over the five years to 2024, the industry is expected to grow, albeit at a slower pace. Improving demand for agricultural products worldwide and pressure to increase yields will likely stimulate demand for industry machinery abroad and domestically.
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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