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Agricultural Machinery & Equipment Wholesaling in Europe - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

ISIC 4653 April 2024 Spotlight Report

Revenue

€119.5bn

2019-2024 1.3 %
2024-2029 X.X %

Employees

247k

2019-2024 2.1 %
2024-2029 X.X %

Businesses

33,169

2019-2024 2.9 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

Agricultural Machinery & Equipment Wholesaling in Europe industry analysis

Agricultural machinery requires significant capital investment, which, for many small or independent farms, is only possible because of government subsidies. Agricultural support is falling across the EU and other European countries like the UK, leading to depressed budgets for many farmers. Despite this, sales of agricultural machinery have remained strong, with farmers keen to purchase the latest lines with autonomous and precision systems integrated into the machines. The enhanced productivity of these machines has made them must-haves, boosting sales despite the strong economic headwinds facing farmers. According to CEMA, the number of tractor registrations in 2022 was the second-highest since 2017. Wholesalers’ profitability has suffered from rising operating costs and intense competition internally and from direct-to-consumer sales from manufacturers. To raise profit, wholesalers have turned to offering comprehensive value-added services like financing options and technical support. Over the five years through 2024, agricultural machinery and equipment wholesaling revenue is forecast to dip at a compound annual rate of 1.3% to reach €119.5 billion, including a projected decline of 2.8% in 2024.

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Industry Statistics and Trends

Agricultural Machinery & Equipment Wholesaling in Europe key trends

Wholesalers turn to value-added services.

 

In a bid to boost profitability in a tough economic period, wholesalers are starting to focus on providing value-added services like financing options and technical support.

The revolution will change the industry.

 

Eco-friendly machinery will take centre stage moving forward as farmers look to cut their emissions and meet environmental targets.

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Agricultural Machinery & Equipment Wholesaling in Europe

Industry Revenue

Total value and annual change from 2011-2029. Includes 5-year outlook.

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Agricultural Machinery & Equipment Wholesaling in Europe market size (2019-2024)

Industry revenue has declined at a CAGR of 1.3 % over the past five years, to reach an estimated €119.5bn in 2024.

Trends and Insights

Value-added services present a profitable opportunity

  • Eurostat data reveals that inflation in Italy trended in the high-single and low double-digit zone over the 14 months through May 2023, driven primarily by sharp rises in energy prices. This increase has pushed up the cost of machinery manufacturing.

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Agricultural Machinery & Equipment Wholesaling in Europe outlook (2024-2029)

Market size is projected to grow over the next five years.

Green revolution sparks demand for eco-friendly machinery

  • The green revolution aims to create a sustainable future for agriculture and will spark widespread change in the sector, with opportunities but also challenges for agriculture machinery wholesalers.

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Revenue

€119.5bn

2019-2024 1.3 %
2024-2029 X.X %

Employees

247k

2019-2024 2.1 %
2024-2029 X.X %

Wages

€X.Xbn

2019-2024 X.X %
2024-2029 X.X %

European Leaders & Laggards

Europe Job Growth CAGR: 2.1 % *
  • Job Growth

Top 5 Countries

  1. Serbia +7.3%
  2. Russia +6.2%
  3. Bosnia & Herzegovina +5.3%
  4. Turkey +5.1%
  5. Malta +5.1%

Bottom 5 Countries

  1. Iceland -12.1%
  2. Sweden -5.2%
  3. Estonia -0.8%
  4. Denmark -0.2%
  5. Cyprus -0.1%

* CAGR values are for the years 2019-2024.

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Biggest companies in the Agricultural Machinery & Equipment Wholesaling in Europe

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
AGRAVIS Raiffeisen AG
8,004.0
39.0
0.5
AGCO Corporation
12,887.0
1,363.1
10.6
Deere & Company
48,314.0
5,942.6
12.3

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Agricultural Machinery & Equipment Wholesaling in Europe

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Top Questions Answered in this Report

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What is the market size of the Agricultural Machinery & Equipment Wholesaling industry in Europe in 2024?

The market size of the Agricultural Machinery & Equipment Wholesaling industry in Europe is €119.5bn in 2024.

How many businesses are there in the Agricultural Machinery & Equipment Wholesaling in Europe industry in 2024?

There are 33,169 businesses in the Agricultural Machinery & Equipment Wholesaling industry in Europe, which has grown at a CAGR of 2.9 % between 2019 and 2024.

Has the Agricultural Machinery & Equipment Wholesaling industry in Europe grown or declined over the past 5 years?

The market size of the Agricultural Machinery & Equipment Wholesaling industry in Europe has been declining at a CAGR of 1.3 % between 2019 and 2024.

What is the forecast growth of the Agricultural Machinery & Equipment Wholesaling industry in Europe over the next 5 years?

Over the next five years, the Agricultural Machinery & Equipment Wholesaling industry in Europe is expected to grow.

What does the Agricultural Machinery & Equipment Wholesaling in Europe include?

Tractors and Harvesting Machines are part of the Agricultural Machinery & Equipment Wholesaling industry.

Which countries have the most businesses in the Agricultural Machinery & Equipment Wholesaling industry in Europe?

The European country with the most businesses in the Agricultural Machinery & Equipment Wholesaling industry is Russia.

How competitive is the Agricultural Machinery & Equipment Wholesaling industry in Europe?

The level of competition is moderate and increasing in the Agricultural Machinery & Equipment Wholesaling industry in Europe.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

Companies in this industry wholesale agricultural machinery and equipment. This includes the wholesale of ploughs, manure spreaders, seeders, harvesters, threshers, milking machines, poultry-keeping machines, bee-keeping machines, tractors used in agriculture and forestry, and lawnmowers.

Related Terms

ImplementBalerSlurry Tanker

What's included in this industry?

TractorsHarvesting MachinesMowing EquipmentSoil Perpetrators and Cultivators

Companies

AGRAVIS Raiffeisen AGAGCO CorporationDeere & Company

Industry Code

ISIC 2006

4653 - Wholesale of agricultural machinery, equipment and supplies in Europe

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Performance

Key Takeaways

Value-added services present a profitable opportunity

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Revenue Highlights

Trends
  • Revenue
  • Current Year Revenue Growth
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue in the Agricultural Machinery & Equipment Wholesaling in Europe industry (2011 -2029)
  • Employees in the Agricultural Machinery & Equipment Wholesaling in Europe industry (2011 -2029)
  • Business in the Agricultural Machinery & Equipment Wholesaling in Europe industry (2011 -2029)
  • Profit in the Agricultural Machinery & Equipment Wholesaling in Europe industry (2011 -2029)
Analysis

What's driving current industry performance in the Agricultural Machinery & Equipment Wholesaling in Europe industry?


Outlook

Analysis

What's driving the Agricultural Machinery & Equipment Wholesaling in Europe industry outlook?


Volatility

Analysis

What influences volatility in the Agricultural Machinery & Equipment Wholesaling in Europe industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Agricultural Machinery & Equipment Wholesaling in Europe industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

Autonomous and precision machinery are the rage. As farmers seek to meet environmental targets and raise productivity while minimising operating costs, autonomous and precision machinery demand is rapidly growing.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Agricultural Machinery & Equipment Wholesaling in Europe industry's products and services performing?

Analysis

What are innovations in the Agricultural Machinery & Equipment Wholesaling in Europe industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Agricultural Machinery & Equipment Wholesaling in Europe industry?


International Trade

Highlights

  • Largest Importer
  • Smallest Importer
  • Total Imports into Europe
  • Largest Exporter
  • Smallest Exporter
  • Total Exports into Europe
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Revenue by Region (2024)
  • Share of Total Industry Enterprises by Region (2024)
  • Share of Total Industry Employment by Region (2024)
  • Share of Total Industry Wages by Region (2024)

Industry Geographic Breakdown

Data Tables

Values and annual change provided for 37 European countries:

  • Revenue (2024)
  • IVA (2024)
  • Enterprises (2024)
  • Employment (2024)
  • Exports (2024)
  • Imports (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

A few large players dominate the market. Entering the industry requires substantial investment in infrastructure, inventory, sales and marketing, limiting the number of new entrants.

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Supply Chain

Charts

Buyer and supply industries

Companies

Market Share

Charts
  • Industry Market Share by Company (2019-2024)

Companies

Data Tables

Top 10 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit Margin (2024)

Data Tables
  • Countries of operation for AGRAVIS Raiffeisen AG
  • Countries of operation for AGCO Corporation
  • Countries of operation for Deere & Company
  • Countries of operation for Claas KGaA mbH
  • Countries of operation for CNH Industrial NV
  • Countries of operation for BayWa AG
  • Countries of operation for Same Deutz-Fahr Italia SpA
  • Countries of operation for Kubota Europe SAS
  • Countries of operation for Bucher Industries AG
  • Countries of operation for Kverneland Group

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Emissions standards are becoming stricter. To meet climate change-related targets, governments are implementing stricter emissions standards for agricultural machinery, forcing wholesalers to stock compliant machinery.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Agricultural Machinery & Equipment Wholesaling in Europe industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Competitive pressures hinder profit. The vast number of wholesalers and the threat of wholesale bypass limits scope to raise prices, therefore, profitability is typically narrow among agricultural machinery wholesalers.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Agricultural Machinery & Equipment Wholesaling in Europe industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.