Industry Analysis & Industry Trends
The Tractors and Agricultural Machinery Manufacturing industry has struggled over the past five years. Despite above-average performance of the agricultural sector in the early part of the period, the industry has been in decline since 2014. Lower demand for agricultural equipment and currency headwinds have contributed to lower revenue and margins for farmers, who as a result, have reduced purchases in 2013 and 2014. During the five years to 2021, demand for crops will continue to generate low to moderate demand for agricultural machinery. Industry operators are projected to benefit from growing demand for tractors and other machinery in South America and Asia because of their growing agricultural economy and population.
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Industry Report - Industry Products Chapter
While tractor and agricultural machinery manufacturers generally do not see much revenue from customer service and support activities, they remain an integral part of the industry's business model. The crucial nature of the products this industry creates and supplies dictates end users be adept and confident when using them. For example, if a farmer fails to properly connect a new tractor model to an older piece of machinery, harvest efficiency could affect that farmer's bottom line. Consequently, the major players in this industry make a point of mentioning their customer service and support options, many of which are accessible online, over the phone and in print means... purchase to read more