South America Agricultural Machinery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 34.21 Billion |
| Market Size (2029) | USD 43.03 Billion |
| CAGR (2024 - 2029) | 4.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Agricultural Machinery Market Analysis
The South America Agricultural Machinery Market size is estimated at USD 34.21 billion in 2024, and is expected to reach USD 43.03 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).
The agricultural machinery industry has products to offer at every stage of the crop cycle. Machines that combine scarification, fertilization, and seeding are popular in South America. The plow, mineral fertilizer applicator, combine harvester, and grain thresher are also in great demand, although only by relatively fewer, affluent farmers in the region.
Tractors and combine harvesters remain the most popular implements, with a well-developed ecosystem of manufacturing and sales by several regional and local manufacturers. Apart from increasing efficiency, mechanization in agriculture is driven by the increasing precision agricultural practices in the region.
South America Agricultural Machinery Market Trends
This section covers the major market trends shaping the South America Agricultural Machinery Market according to our research experts:
Increase in Area Harvested
There has been a significant increase in agricultural land under cultivation. Agricultural mechanization in the country has shifted from traditional tools to sophisticated machinery to meet the targets of capacity enhancement, timeliness of farm operations, and efficient utilization of inputs. It has also been observed that the percentage growth of tractors, pump sets, and threshers has been higher in marginal and smallholding categories as farmers are more aware of the importance of mechanization.
Tractors Dominate the Machinery Market
The use of tractors brought about an important change in the agricultural mechanization in the country. The introduction of tractors as a power source provides the possibility of covering large agricultural areas in short periods. Due to the significant increase in row crops and horticultural crops, there is an increasing usage of tractors. According to the Brazilian Department of Agriculture, around 70% of the farmers own 500 acres or more. Manual plowing, harvesting, and other operations are found to be unfeasible and time-consuming. The growth observed in the sales of tractors is an important indicator of the advent of farm mechanization. Tractors tend to act as a source of power whereby various agricultural machines can just be attached to it. This co-dependency makes the purchase of tractors increasing over the years.
South America Agricultural Machinery Industry Overview
The industry is dominated mainly by the local machinery manufacturing industries, and Brazil is the sixth-largest exporter of machinery units. Major key players in the market are Deere & Company, Buhler Industries Inc., Mahindra & Mahindra Ltd. Escorts Limited, AGCO Corporation, and TAFE.
South America Agricultural Machinery Market Leaders
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Deere & Company
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TAFE
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Buhler Industries Inc.
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Escorts Limited
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Mahindra & Mahindra Ltd.
*Disclaimer: Major Players sorted in no particular order
South America Agricultural Machinery Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Tractors
- 5.1.2 Plowing and Cultivating Machinery
- 5.1.3 Planting and Fertilizing Machinery
- 5.1.4 Harvesting Machinery
- 5.1.5 Haying and Forage Machinery
- 5.1.6 Irrigation Machineries
- 5.1.7 Parts and Attachments
- 5.1.8 Other Product Types
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5.2 By Geography
- 5.2.1 Brazil
- 5.2.2 Argentina
- 5.2.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Buhler Industries Inc
- 6.3.2 Escorts Limited
- 6.3.3 AGCO Corporation
- 6.3.4 Mahindra & Mahindra Ltd
- 6.3.5 Kubota Agricultural Machinery
- 6.3.6 Deere & Company
- 6.3.7 Kverneland AS
- 6.3.8 CNH Industrial N.V
- 6.3.9 Kuhn Group
- 6.3.10 Escorts Group
- 6.3.11 New Holland Agriculture
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySouth America Agricultural Machinery Industry Segmentation
South America's agricultural machinery market analyses the growth of all agricultural machinery, trends in agricultural machinery, and types of machinery. The market has been segmented on the basis of the type of agricultural machinery and geography into Brazil, Argentina, and the Rest of South America. By product type, the market is segmented into tractors, plowing and cultivating machinery, planting and fertilizing machinery, harvesting machinery, haying and forage machinery, irrigation machinery, parts and attachments, and others.
| By Product Type | Tractors |
| Plowing and Cultivating Machinery | |
| Planting and Fertilizing Machinery | |
| Harvesting Machinery | |
| Haying and Forage Machinery | |
| Irrigation Machineries | |
| Parts and Attachments | |
| Other Product Types | |
| By Geography | Brazil |
| Argentina | |
| Rest of South America |
South America Agricultural Machinery Market Research FAQs
How big is the South America Agricultural Machinery Market?
The South America Agricultural Machinery Market size is expected to reach USD 34.21 billion in 2024 and grow at a CAGR of 4.70% to reach USD 43.03 billion by 2029.
What is the current South America Agricultural Machinery Market size?
In 2024, the South America Agricultural Machinery Market size is expected to reach USD 34.21 billion.
Who are the key players in South America Agricultural Machinery Market?
Deere & Company, TAFE, Buhler Industries Inc., Escorts Limited and Mahindra & Mahindra Ltd. are the major companies operating in the South America Agricultural Machinery Market.
What years does this South America Agricultural Machinery Market cover, and what was the market size in 2023?
In 2023, the South America Agricultural Machinery Market size was estimated at USD 32.67 billion. The report covers the South America Agricultural Machinery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Agricultural Machinery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Agricultural Machinery Parts Industry Report
Statistics for the 2024 South America Agricultural Machinery Parts market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Agricultural Machinery Parts analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
