Global Farm Equipment Market - Top 6 Market Players - Annual Strategy Dossier - 2024 - Deere & Co., CNH Industrial, AGCO, CLAAS, SDF, Kubota

Global Farm Equipment Market - Top 6 Market Players - Annual Strategy Dossier - 2024 - Deere & Co., CNH Industrial, AGCO, CLAAS, SDF, Kubota

The Global Farm Equipment Market is projected to cool down further in 2024, trudging in normalization mode, which began in earnest in 2023 following the record highs of 2022, which, witnessed demand for new equipment peaking and net farm incomes surging to levels not witnessed for a long time. The high cost of capital, owing to a sustained high interest rate credit environment, is impacting & deferring equipment replacement decisions across markets while higher projected cost of production and lower agriculture commodity prices are likely to collectively put significant pressure on farm incomes amid a difficult, challenging & uncertain global macroeconomic environment which is likely to ensure a lackluster 2024 for agriculture and farm equipment manufacturers. The industry OEMs and retailers have actively been working towards adjusting production output and inventory levels, in accordance with the emerging market environment, as they brace-up for an imminent market slump while actively promoting technology-intensive precision agtech equipment, featuring digitalization, especially precision & automated crop sprayers, as farmers seek to leverage technology-driven increase in efficiency and productivity in a difficult, overall market environment. The same is also likely to provide an uptick to the used equipment and equipment rental segments over near term.

The global economy is projected to be heading towards a slowdown in 2024, following continued monetary policy tightening by central banks globally over the recent years to check inflation, in turn, creating a tight credit environment. It comes as a double whammy for the global economy amid sustained geopolitical instability with ongoing Israeli military operations in Gaza and growing confrontations with Iran and Hezbollah causing further escalation of tensions and keeping the entire Middle East region & the world on the edge as the ongoing Russia-Ukraine war refuses to abate in 2024.

The farm equipment industry also continues to make active & steady progress towards required energy transition, geared towards sustainability, for the long term with electrification & utilization of other sustainable technologies being duly underway by the industry OEMs across most key markets. Further, ongoing integration of Connectivity-based services, Electrification & development of other Sustainable and Autonomous technologies continues with steady progress being made towards ramping up production and roll out of electric and autonomous equipment across industry OEMs. The global economic growth, however, is projected to return to its range-bound average movement of under 3% annually over near term with a high predisposition to critical events and catastrophes with any further, major potential shocks at this time could simply send the global economy spiraling down into a full-blown recessionary cycle.

Against this backdrop, the report analyzes the overarching Strategy Focus as well as Key Strategies & Plans for the World’s Top 6 OEMs in the Global Farm Equipment Market with focus on a blend of quantitative & qualitative analysis. The report provides a detailed analysis on the Strategies, Plans and Initiatives being undertaken by the farm equipment manufacturers to navigate prevailing internal and external challenges as well as market uncertainties and macroeconomic challenges by developing appropriate strategies & plans.

For Whom: Key Decision-Makers across Industry Value Chain

The report will be essential & a key resource for those associated with and having strategic interest in the Global Farm Equipment Market. The report will be especially useful for:

Key Decision-Makers across the Farming Industry
Product and Program Managers
Top Management of Industry OEMs, Players across Industry Value Chain & Other Companies
Suppliers, Vendors, Technology & Services Providers and other Key Players across the Industry Value Chain
Existing & Potential Investors
Industry & Company Analysts
M&A Advisory Firms
Strategy & Management Consulting Firms
PE Firms, Venture Capitalists and Financing & Leasing Companies
Researchers and all those associated with the industry in general