Market Size of Italy Agricultural Machinery Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.20 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Italy Agricultural Machinery Market Analysis
Italy Agricultural Machinery Market is Projected to grow at a CAGR of 5.2% during the forecast period (2020-2025). Italy's agricultural machinery sector is predominately an export-based market where it caters majorly to United States and European Union as the domestic market usage of agricultural machinery is very limited as compared to exports. The increase in need for farm mechanziationa and rise in technological advancements are some of the factors driving the market growth. However, the reduction in number of active farms and siginificant decline in agriculture income are some of the factors restraining the market growth.
Italy Agricultural Machinery Industry Segmentation
For the purpose of this report, the machinery used in agricultural operations has been considered. The report does not cover machinery used for industrial and construction purposes, or multi-purpose tractors, machinery and equipment, used for both agricultural and non-agricultural operations.
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Italy Agricultural Machinery Market Size Summary
The agricultural machinery market in Italy is characterized by its export-oriented nature, primarily serving markets in the United States and the European Union, with limited domestic consumption. The sector is experiencing growth driven by the increasing need for farm mechanization and advancements in technology. This growth is partly fueled by a shortage of farm labor, which has led to rising wage rates and a subsequent shift towards mechanized farming solutions. Despite these positive trends, the market faces challenges such as a decline in the number of active farms and a significant drop in agricultural income, which could potentially hinder its expansion.
In response to the evolving demands of farmers, both international and domestic manufacturers are introducing technologically advanced tractors with customized features to enhance farming efficiency. Companies like Kubota have launched new product lines, such as the M7-1 tractor series, to cater to the specific needs of Italian farmers. The competitive landscape is dominated by major players like Deere and Company, AGCO Corporation, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota Corporation, all of whom are heavily investing in research and development to innovate and meet the region's agricultural machinery demands.
Italy Agricultural Machinery Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Force Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Tractors
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2.1.1.1 Less than 40 HP
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2.1.1.2 40 HP to 99 HP
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2.1.1.3 Greater than 100 HP
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2.1.2 Equipments
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2.1.2.1 Ploughs
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2.1.2.2 Harrows
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2.1.2.3 Rotovators and Cultivators
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2.1.2.4 Seed and Fertilizer Drills
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2.1.2.5 Other Equipments
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2.1.3 Irrigation Machinery
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2.1.3.1 Sprinkler Irrigation
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2.1.3.2 Drip Irrigation
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2.1.3.3 Other
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2.1.4 Harvesting Machinery
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2.1.4.1 Combine Harvesters
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2.1.4.2 Forage Harvesters
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2.1.4.3 Other Harvesting Machinery
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2.1.5 Haying and Forage Machinery
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2.1.5.1 Mowers and Conditioners
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2.1.5.2 Balers
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2.1.5.3 Other Haying and Forage Machinery
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Italy Agricultural Machinery Market Size FAQs
What is the current Italy Agricultural Machinery Market size?
The Italy Agricultural Machinery Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Italy Agricultural Machinery Market?
Escorts Limited, Deere & Company, Kubota Corporation and Kuhn Group are the major companies operating in the Italy Agricultural Machinery Market.