The European Union is a key market for the farm machine industries, with production worth about 28 billion euros (2014). Germany accounts for 27 percent of this total, while Italy and France each account for about 14 percent.
Large companies like Case IH and New Holland have multiple production sites across Europe, making their products easily accessible to a large number of customers. The EU’s agricultural machinery market is also highly competitive, with most leading manufacturers having multiple production facilities.
The latest developments in agricultural equipment have led to highly automated farm operations. A traditional baling machine produced compact rectangular bales of hay weighing around 45 kg, but new technology has enabled the manufacture of large round bales up to 680 kg.
These innovations have helped farmers increase storage capacity and improve the curing and drying of harvested forage materials. Forage harvesters are also highly efficient and help grows crops. Grinder mixers can create the correct consistency for silage and add vitamins and minerals to feed animals. Taskpower NZ has all of these latest technologies in their website.
Agricultural Machines are the Instruments of Industrial Development
By reducing the dependence of a country on land, they increase the supply of goods and services. They provide a fertile ground for intellectual growth.
The top farm machine manufacturing companies in the world include Mahindra Corporate Office, Tractors and Farm Equipment Limited, HMT Limited, Balwan tractors Force motors limited, Singha Components Private Limited, and Xuelong.
Currently, there are over 10,000 farm machine manufacturers in China, making it the second-largest producer of agricultural machinery after the United States. However, the high cost of production is causing many manufacturers to resist the need to increase prices.
They are reluctant to raise prices as they do not want to dampen the current brisk sales. As a result, they absorb the extra costs, which is a temporary band-aid. A longer-term solution would be to increase prices.
Agricultural Machines are the Backbone of a Country’s Economy
Agricultural machines are the backbone of a country’s economy. They are the second-largest manufacturer of farm machines in the world after the United States. In spite of the rising costs, Chinese farmers are still enjoying brisk sales. Despite this, however, the country’s farm machine industries face a few challenges.
The economy is undergoing an economic crisis and many manufacturers are unable to raise prices in order to stay profitable. Although China’s farm machine industry is booming, it is a niche industry. Its popularity is limited to the ag sector, whereas in the U.S., the farm machinery industry is an all-star.
With a global market of over a billion dollars, China’s farm machine industries are the second-largest producers after the United States. The U.S. is one of the few developing countries with the most manufacturers. In the past, there were seven major farm machinery manufacturers in the U.S., and they have since merged into several companies.
In the 1990s, John Deere and Case merged, and in 1997, they expanded their dealer network. Today, there are about ten full-line companies in the farm equipment industry, but there are many others. There are more than one hundred million farm machinery dealers in the U.S.
The Western Farm Machine Industry
The U.S. farm equipment industry is huge, with over a million different manufacturers. It has a significant share of the nation’s economy and is the second-largest producer after the United States. But the manufacturers are wary of raising prices to compensate for increased production costs and want to delay the increase in prices.
It is a temporary band-aid, but it will cause them long-term problems. They cannot afford to keep increasing their prices without affecting the market. The U.S. farm machine industry is dominated by four companies. The leaders in this market are John Deere and CNH Industrial.
They are global players, with a local presence in most countries. Some of the major manufacturers in this sector are local and regional. They make a wide range of agricultural machinery and accessories for farmers and other businesses. In the U.S., more than 400 companies are in the farm machine industries.
In Canada, the agricultural machine industry employs approximately 247 employees, with two companies having more than a thousand workers. The majority of the industry is small, with most establishments employing fewer than 100 people.
During the 1970s, the agricultural machinery industry in Canada experienced a major downturn, and the economy began shrinking. In the early 1980s, the number of two-wheel-drive farm tractors decreased by almost half, while tractors and self-propelled tractors fell by more than fifty percent.