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Argentina Agricultural Machinery Market Size (2024 - 2029)

The Argentina farm machinery and equipment market is experiencing growth, driven by a robust local manufacturing industry that produces a significant portion of the sector's needs. The market's expansion is supported by government initiatives promoting local production, leading to a high integration of domestic components in equipment. Technological advancements and consumer demand are also key factors, with major companies investing in smart farming machinery. The agricultural sector's growth, coupled with improved financing options and rising contractor service prices, further propels the market's development.

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Market Size of Argentina Agricultural Machinery Industry

Argentina Agricultural Machinery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.33 Billion
Market Size (2029) USD 1.77 Billion
CAGR (2024 - 2029) 5.80 %
Market Concentration High

Major Players

Argentina Agricultural Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Argentina Agricultural Machinery Market Analysis

The Argentina Agricultural Machinery Market size is estimated at USD 1.33 billion in 2024, and is expected to reach USD 1.77 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).

  • Argentina has a long-established local industry of manufacturing farm machinery and implements with approximately 730 companies and was one of the first industries to develop in the country due to agriculture's predominant role in the economy. According to local statistics, domestic production of agricultural machinery and equipment accounts for around 80% of the total sector.
  • Previous government administrations have contributed to this expansion by encouraging local production of parts and components. This has caused multinationals to incorporate more than 50% local components into their manufactured equipment, strengthening the market's growth during the forecasting period.
  • Some of the major players also invest in technological research to manufacture smart farming machinery based on consumer demand in the country. For instance, in 2021, CNH Industrial announced to double the production of harvesters and tractors in its plant in Córdoba, Argentina. The company expects, through its Case IH and New Holland brands, to produce a total of 2,500 machines which will boost the machinery segment in the country during the forecast period.
  • Argentina's agriculture continues to grow strongly, and the trend is reflected in the sale of new agricultural equipment. The reason for the increase in sales was the expansion of the financing lines of banks that offer affordable rates and terms. In addition, the rise in the prices of contractor services is also one of the prime market-driving factors that lead producers to buy their own agricultural machinery.

Argentina Agricultural Machinery Industry Segmentation

The Argentina agricultural machinery market is part of the industry that produces and maintains tractors, machinery, and implements used in farming or other agriculture.  

The Argentina agricultural machinery market is segmented by type (tractors, ploughing and cultivating machinery, planting machinery, harvesting machinery, haying, and forage machinery, irrigation machinery, and other types).

The report offers market estimation and forecasts in value (USD million) for the above-mentioned segments.

Type
Tractors
Less Than 40 HP
40 HP to 99 HP
Greater than 100 HP
Plowing and Cultivating Machinery
Ploughs
Harrows
Cultivator and Tillers
Other Ploughing and Cultivating Machinery
Planting Machinery
Seed Drills
Planters
Spreaders
Other Planting Machinery
Harvesting Machinery
Combine Harvesters
Forage Harvetsers
Other Harvesting Machinery
Haying and Forage Machinery
Mowers
Balers
Other Haying and Forage Machinery
Irrigation Machinery
Sprinkler Irrigation
Drip Irrigation
Other Irrigation Machinery
Other Types
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Argentina Agricultural Machinery Market Size Summary

The Argentina farm machinery and equipment market is characterized by a robust local manufacturing industry, with a significant portion of the sector's output being domestically produced. This local industry has been bolstered by government policies encouraging the use of local components, which has led to multinational companies incorporating a substantial amount of local content in their products. The market is further driven by advancements in technology, with major players investing in smart farming machinery to meet the evolving demands of Argentine consumers. The agricultural sector's growth, supported by increased financing options and rising service costs, has spurred the demand for new agricultural equipment, thereby enhancing the market's expansion prospects.

Despite strong domestic production, Argentina continues to import agricultural machinery to meet the high demand for advanced technology. The United States, Brazil, and Germany are key suppliers, with the U.S. holding a significant market share. Collaborative efforts with countries like Guatemala aim to enhance agricultural competitiveness and technology transfer, opening new markets for Argentine machinery. The market is consolidated, with major players like Agrale, Kubota, and CNH Industrial dominating the landscape. Strategic alliances and technological innovations, such as the introduction of digital farming platforms, are pivotal in driving market growth and expanding the market share of these companies during the forecast period.

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Argentina Agricultural Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Tractors

        1. 2.1.1.1 Less Than 40 HP

        2. 2.1.1.2 40 HP to 99 HP

        3. 2.1.1.3 Greater than 100 HP

      2. 2.1.2 Plowing and Cultivating Machinery

        1. 2.1.2.1 Ploughs

        2. 2.1.2.2 Harrows

        3. 2.1.2.3 Cultivator and Tillers

        4. 2.1.2.4 Other Ploughing and Cultivating Machinery

      3. 2.1.3 Planting Machinery

        1. 2.1.3.1 Seed Drills

        2. 2.1.3.2 Planters

        3. 2.1.3.3 Spreaders

        4. 2.1.3.4 Other Planting Machinery

      4. 2.1.4 Harvesting Machinery

        1. 2.1.4.1 Combine Harvesters

        2. 2.1.4.2 Forage Harvetsers

        3. 2.1.4.3 Other Harvesting Machinery

      5. 2.1.5 Haying and Forage Machinery

        1. 2.1.5.1 Mowers

        2. 2.1.5.2 Balers

        3. 2.1.5.3 Other Haying and Forage Machinery

      6. 2.1.6 Irrigation Machinery

        1. 2.1.6.1 Sprinkler Irrigation

        2. 2.1.6.2 Drip Irrigation

        3. 2.1.6.3 Other Irrigation Machinery

      7. 2.1.7 Other Types

Argentina Agricultural Machinery Market Size FAQs

The Argentina Agricultural Machinery Market size is expected to reach USD 1.33 billion in 2024 and grow at a CAGR of 5.80% to reach USD 1.77 billion by 2029.

In 2024, the Argentina Agricultural Machinery Market size is expected to reach USD 1.33 billion.

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