How big is the market for agricultural equipment
Billions in business: The 5 largest agricultural technology manufacturers worldwide
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The agricultural engineering industry has always achieved sales of more than 100 billion euros in recent years. The bulk of this is due to just five companies. These are the largest agricultural technology manufacturers in the world.
2013 was the previous record year for agricultural technology: Manufacturers worldwide achieved sales of 137 billion US dollars with tractors, combine harvesters and co., As can be read in the 2017 group atlas of the environmental protection organization BUND. Through expansion on the one hand, but also a change in corporate structures through acquisitions, a few global players in agricultural technology have now emerged. The three largest even share more than half of the world market.
These are the five largest agricultural engineering companies in the world, measured in terms of annual sales, which together amount to over 80 billion US dollars.
1st place: Deere & Company
"In 1837, John Deere, a farrier and inventor, had little more than a workshop, a discarded saw blade and an idea," is how the company describes it on its website, which is now the largest manufacturer of agricultural equipment in the world. In 1868 "Deere & Company" was registered as a public company. The most important turning point for the German agricultural technology industry was the takeover of Heinrich Lanz AG in Mannheim in 1956.
Deere and Company had sales of $ 37.34 billion and operating income of $ 5.14 billion for the 2018 fiscal year ended October 28. The machine sales came to 33.35 billion US dollars. In the first quarter of the 2018/19 financial year, the company's sales rose by 16 percent compared to the same period of the previous year to 6.94 billion US dollars. According to official information, an overall increase in sales of 7 percent is expected in the 2019 financial year.
2nd place: CNH Industrial
Better known than the corporate name CNH Industrial are the many brands that merge under it: On the agricultural technology side alone, there are Case IH with a 175-year history, Steyr, New Holland, formerly Ford or Fordson, Fiat and FiatAgri. There is also business with commercial vehicles from Iveco, Fiat, Magirus, Unic and others.
CNH Industrial had sales of $ 29.71 billion in 2018. The operating profit amounts to 3.3 billion US dollars according to the company. In fiscal 2017, it was only $ 2.2 billion.
3rd place: Kubota
Since it was founded in 1890, the Japanese company Kubota has earned third place among the world's largest agricultural technology companies. In 2018, Kubota achieved worldwide sales of 16.57 billion US dollars with agricultural equipment. A large part of the turnover also comes from other sectors, such as construction machinery, lawnmowers and combustion engines, the product with which the company launched in 1922. With the acquisitions of Kverneland and Great Plains, Kubota made great strides in the direction of full-liner.
4th place: AGCO
The original brands in the AGCO Group are Gleaner and Allis-Chalmers - after all, AGCO stands for "Allis-Gleaner Corporation". The other brands in the group are much better known in this country, including Fendt, Massey Ferguson, Challenger and Valtra.
AGCO had net sales of $ 9.4 billion in 2018. Net sales for 2018 as a whole increased by around 12.6 percent compared to 2017. The company's operating income was $ 503 million.
5th place: Claas
The German company Claas ranks fifth among the world's largest manufacturers of agricultural machinery. The core competence is combine harvesters - this is where the Claas family achieved their breakthrough. The company from Harsewinkel is still the world market leader in combine harvesters and forage harvesters. With the takeover of Renault, the tractors finally occupied a permanent place in Claas' product portfolio.
Claas recorded sales of 3.89 billion euros in 2018. That is 3.4 percent more than in the successful 2017 financial year. Earnings before taxes amounted to 226 million euros.
Tech treasure: Farmers' favorite machines
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