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Australia Agricultural Machinery Market Size (2024 - 2029)

The Australia Agricultural Machinery Market is experiencing growth driven by the need for improved productivity and the mechanization of agricultural processes. Despite regional climate uncertainties and a declining farming population, the market's expansion is supported by the availability of large tracts of land for cultivation and export. Tractors and combine harvesters are the most sought-after machinery, with a robust manufacturing and sales ecosystem. The introduction of innovative products by key players is expected to further boost the market's growth trajectory.

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Market Size of Australia Agricultural Machinery Industry

Australia Agricultural Machinery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 4.11 Billion
Market Size (2029) USD 6.68 Billion
CAGR (2024 - 2029) 8.20 %
Market Concentration Medium

Major Players

Australia Agricultural Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Agricultural Machinery in Australia Market Analysis

The Australia Agricultural Machinery Market size is estimated at USD 4.11 billion in 2024, and is expected to reach USD 6.68 billion by 2029, growing at a CAGR of 8.20% during the forecast period (2024-2029).

Australia has vast regional differences, and the country has a lot of climate uncertainty. In Australia, around 4% of the country's GDP is generated from agriculture. The mechanization of agricultural processes has been advancing steadily in the country. The demand for agricultural machinery is mainly due to the need to improve the quality of productivity, along with the decline in the population involved in farming in the region. Large swathes of land availability enable the country to cover its needs and export products to other countries.

Tractors and combine harvesters remain the most popular implements, with a well-developed ecosystem of manufacturing and sales by several regional and local manufacturers. According to the Tractor and Machinery Association of Australia (TMA), there was an increase in the sales of the small tractor segment in the country due to the support of the Instant Asset Write-off scheme.

Introducing innovative products by key players is anticipated to drive the demand for agricultural machinery in the coming years. For instance, in 2022, John Deere introduced the new range of P600 Precision Air Hoe drills to deliver up to a 15.5% larger working width and 24% weight reduction compared to the P500 to decrease compaction, labor time, and fuel consumption while optimizing productivity and seed to soil contact.

Agricultural Machinery in Australia Industry Segmentation

Agricultural machinery includes mechanical devices used in farming and other agriculture practices. These include different types of equipment, from hand tools and power tools to tractors and various farm implements used to operate farming activities.

The Australian agricultural machinery market is segmented into tractors , ploughing and cultivating machinery, planting machinery, harvesting machinery, haying and foraging machinery and irrigation machinery. The report offers the market size in value terms in USD for all the abovementioned segments.

Tractors
Horsepower
Below 40 HP
40-120 HP
Above 120 HP
Utility Type
Compact Utility Tractors
Utility Tractors
Row Crop Tractors
Ploughing and Cultivating Machinery
Ploughs
Harrows
Cultivators and Tillers
Other Planting and Cultivating Machinery
Planting Machinery
Seed Drills
Planters
Spreaders
Other Planting Machinery
Harvesting Machinery
Combine Harvesters
Forage Harvesters
Other Harvesting Machinery
Haying and Forage Machinery
Mowers and Conditioners
Balers
Other Haying and Forage Machinery
Irrigation Machinery
Sprinkler Irrigation
Drip Irrigation
Other Irrigation Machinery
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Australia Agricultural Machinery Market Size Summary

The Australian agricultural machinery market is poised for significant growth, driven by the need for enhanced productivity and the mechanization of farming processes. With agriculture contributing a notable portion to the country's GDP, the demand for advanced machinery is fueled by factors such as climate variability, labor shortages, and the necessity to maintain competitive export standards. Tractors and combine harvesters are among the most sought-after equipment, supported by a robust manufacturing and sales network. The market is characterized by the introduction of innovative products by key players, which is expected to further stimulate demand. The adoption of modern technologies, including data science and automation, is becoming increasingly prevalent as Australian farmers seek to optimize their operations amidst rising labor costs and a growing population.

The market landscape is semi-consolidated, with major players like Deere & Company, AGCO, and Kubota holding significant market shares. These companies are actively engaged in strategic initiatives such as product innovation and partnerships to strengthen their market position. The demand for specific equipment, such as self-propelled boom sprayers and automated feeding systems, is on the rise, reflecting the evolving needs of the agricultural sector. Additionally, the market for used tiller machinery is experiencing a surge due to its cost-effectiveness, appealing to budget-conscious farmers. With a high percentage of farm machinery being imported, Australia remains a strategic market for global exporters. Initiatives like concessional loans and investments from research and development corporations are expected to further support market growth in the coming years.

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Australia Agricultural Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Declining Labour Availability and Rising Cost of Farm Labour

      2. 1.2.2 Rapid Technological Advancements by Key Players

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Agricultural Machinery and Repair

      2. 1.3.2 Data Privacy Concerns in Modern Farming

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Tractors

      1. 2.1.1 Horsepower

        1. 2.1.1.1 Below 40 HP

        2. 2.1.1.2 40-120 HP

        3. 2.1.1.3 Above 120 HP

      2. 2.1.2 Utility Type

        1. 2.1.2.1 Compact Utility Tractors

        2. 2.1.2.2 Utility Tractors

        3. 2.1.2.3 Row Crop Tractors

    2. 2.2 Ploughing and Cultivating Machinery

      1. 2.2.1 Ploughs

      2. 2.2.2 Harrows

      3. 2.2.3 Cultivators and Tillers

      4. 2.2.4 Other Planting and Cultivating Machinery

    3. 2.3 Planting Machinery

      1. 2.3.1 Seed Drills

      2. 2.3.2 Planters

      3. 2.3.3 Spreaders

      4. 2.3.4 Other Planting Machinery

    4. 2.4 Harvesting Machinery

      1. 2.4.1 Combine Harvesters

      2. 2.4.2 Forage Harvesters

      3. 2.4.3 Other Harvesting Machinery

    5. 2.5 Haying and Forage Machinery

      1. 2.5.1 Mowers and Conditioners

      2. 2.5.2 Balers

      3. 2.5.3 Other Haying and Forage Machinery

    6. 2.6 Irrigation Machinery

      1. 2.6.1 Sprinkler Irrigation

      2. 2.6.2 Drip Irrigation

      3. 2.6.3 Other Irrigation Machinery

    7. 2.7 Other Types

Australia Agricultural Machinery Market Size FAQs

The Australia Agricultural Machinery Market size is expected to reach USD 4.11 billion in 2024 and grow at a CAGR of 8.20% to reach USD 6.68 billion by 2029.

In 2024, the Australia Agricultural Machinery Market size is expected to reach USD 4.11 billion.

Australia Agricultural Machinery Market Report Snapshots

Australia Agricultural Machinery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)