Agricultural Machinery Manufacturing in Australia - Industry Market Research Report

Agricultural Machinery Manufacturing in Australia - Industry Market Research Report

Agricultural Machinery Manufacturing in Australia

Agricultural machinery manufacturers have benefited from a spike in demand over the past few years. Drought negatively affected demand from agricultural firms over the two years through 2019-20. But high annual rainfall levels over the three years through 2022-23 have driven up farm production volumes and incomes. Strong demand from local and export markets has driven growth in the agricultural division, encouraging rising domestic investment in agricultural machinery. Moreover, relatively low interest rates and government tax incentives have boosted private capital expenditure on machinery. Industry-wide revenue is expected to expand at an average annualised 5.5% over the past five years and total $2.8 billion in 2022-23, when revenue is anticipated to drop by 6.1%.

Industry firms primarily manufacture agricultural machinery, equipment and specialised parts. This machinery includes lawn mowers and planting and harvesting equipment. Firms that mainly repair agricultural equipment and machinery are excluded from the industry.

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.