Uk Agricultural Machinery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.69 Billion |
| Market Size (2029) | USD 3.47 Billion |
| CAGR (2024 - 2029) | 5.20 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Uk Agricultural Machinery Market Analysis
The United Kingdom Agricultural Machinery Market size is estimated at USD 2.69 billion in 2024, and is expected to reach USD 3.47 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
- The country's agricultural fields have faced a labor shortage in recent years. According to the World Bank database, employment in agriculture dropped from 1.03% in 2021 to 1.0% in 2022. Consequently, rising labor costs have pushed farmers to increase food prices. Factors such as rising farm labor costs, government policies favoring agricultural machinery purchases, and technological advancements are propelling the growth of the farm machinery market.
- Moreover, as the population in the United Kingdom continues to grow, there is an increasing push toward agricultural mechanization. This shift is directly fueling a heightened demand for agricultural machinery. In response, companies are actively introducing innovative products and cutting-edge technologies to the market. Cutting-edge farm technologies also streamline operations and reduce expenses. As a result, the agricultural machinery market is poised for significant growth during the forecast period.
- Key players in the industry, such as CLAAS KGaA mbH, Deere & Company, CNH Industrial NV, AGCO Corporation, and Kubota Corporation, are launching new types of machinery and offering new technologies to bring more efficiency and ease to agricultural operations in the region. For instance, in 2022, John Deere & Co. introduced a new operator-less tractor for tilling the field, addressing the challenge of labor shortages in the region.
Uk Agricultural Machinery Market Trends
Shortage of Labor in The Agriculture Industry
- UK agriculture has historically depended on a significant influx of seasonal immigrant workers. Yet, as urbanization accelerates and living standards rise, many rural households gravitate toward cities, drawn by urban opportunities. For instance, rural populations have seen notable declines in several countries. In Spain, the rural demographic shrank from 19.4% in 2019 to 18.7% in 2022.
- Moreover, the demanding nature of farming has deterred many from pursuing it, exacerbating the region's labor shortages. According to the World Bank, agricultural employment in the European Union dipped from 4.32% in 2020 to 3.99% in 2022. European agriculture's labor shortage has catalyzed a pronounced move toward mechanization and automation. Farmers channel greater investments into machinery to uphold productivity as the pool of available or willing agricultural workers dwindles. For instance, in Spain and Italy, seasonal labor shortages are intensified by an aging rural populace and tighter immigration policies. Consequently, farmers in these nations are turning to technology for tasks once dominated by human hands.
- Consequently, European agriculture's labor shortage propels the shift toward mechanization and automation, prominently featuring tractors and combines. As farmers aim to boost crop yields and optimize farming efficiencies, this trend is set to persist during the forecast period.
The Tractors Segment Dominates the Market
- The UK agricultural machinery market has witnessed an increase in its integration with technology over the past few years to support sustainable agricultural practices. The UK government is focusing on increasing farm mechanization to produce more with less environmental impact. Tractors, essential agricultural machinery, have witnessed a huge growth potential in the UK market. Farmers in this region are increasingly keen on purchasing high-end tractors to work on larger fields as part of their effort to improve crop yields and boost farm efficiencies. Tractors under 50 HP offer a more budget-friendly option for farmers, being more affordable than their larger counterparts. Given that small farms constitute a substantial segment of the market, the practicality of low-cost tractors becomes evident, fueling the growth of this segment.
- Companies are implementing product innovation and market expansion strategies in response to the rising demand for higher horsepower tractors. Additionally, in the United Kingdom, the average horsepower of registered agricultural tractors rose to 157.7 HP in 2023, up from 153.7 HP in 2022. Consequently, as the number of large-scale farms continues to grow, the demand for high-power tractors is projected to rise during the forecast period.
Uk Agricultural Machinery Industry Overview
The UK agricultural machinery market is consolidated, with the major players occupying the major share of the market. CLAAS KGaA, Deere & Company, CNH Industrial NV, AGCO Corporation, and Kubota Corporation are major players in this market. These companies are involved in various strategic activities such as product innovation, expansion, and partnership. Mergers and acquisitions are other prominent strategies to expand geographical reach, such as acquiring other companies' assets, technologies, and consumer base.
Uk Agricultural Machinery Market Leaders
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CLAAS KGaA mbH
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Deere & Company
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CNH Industrial NV
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Kubota Corporation
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AGCO Corporation
*Disclaimer: Major Players sorted in no particular order
Uk Agricultural Machinery Market News
- January 2023: New Holland revealed a prototype T7 Methane Power tractor that runs on a liquified gas version, giving longer filling working times. The new tractor has four times the fuel storage of the firm's existing methane-powered T6, which utilizes compressed gas (CNG).
- October 2021: New Holland, United Kingdom, unveiled its latest cultivator model, the SRC SmartSteerTM, featuring an innovative camera self-steering system. This addition enhances the current lineup of 4 to 18-row mechanically guided models, catering to the demands of large farms and contractors, prioritizing both efficiency and user comfort.
- April 2021: Kuhn UK unveiled a triple gang mower conditioner featuring fully integrated swath grouping units. This innovation allows the machine to condense its 9.3-meter cut into a single swath in one pass. In contrast to its predecessors, the newly designed grouper attachment boasts an updated frame and support arm configuration, enhancing the unit's compactness and stability.
UK Agricultural Machinery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Equipment
5.1.1.1 Plows
5.1.1.2 Harrows
5.1.1.3 Cultivators and Tillers
5.1.1.4 Other Equipment
5.1.2 Irrigation Machinery
5.1.2.1 Sprinkler Irrigation
5.1.2.2 Drip Irrigation
5.1.2.3 Other Irrigation Machinery
5.1.3 Harvesting Machinery
5.1.3.1 Combine Harvesters
5.1.3.2 Forage Harvesters
5.1.3.3 Other Harvesting Machinery
5.1.4 Haying and Forage Machinery
5.1.4.1 Mowers and Conditioners
5.1.4.2 Balers
5.1.4.3 Other Haying and Forage Machinery
5.1.5 Other Machinery Types
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 CLAAS KGaA
6.3.2 Deere & Company
6.3.3 CNH Industrial NV
6.3.4 Kubota Corporation
6.3.5 AGCO Corporation
6.3.6 Kuhn Group
6.3.7 Same Deutz-Fahr
6.3.8 J C Bamford Excavators Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Uk Agricultural Machinery Industry Segmentation
Agricultural machinery encompasses the mechanical devices and structures employed in farming and related activities. The UK agricultural machinery market is segmented into tractors, equipment, irrigation machinery, harvesting machinery, haying and forage machinery, and other machinery types. The report offers market size and forecast in terms of value in USD for the abovementioned segments.
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UK Agricultural Machinery Market Research FAQs
How big is the United Kingdom Agricultural Machinery Market?
The United Kingdom Agricultural Machinery Market size is expected to reach USD 2.69 billion in 2024 and grow at a CAGR of 5.20% to reach USD 3.47 billion by 2029.
What is the current United Kingdom Agricultural Machinery Market size?
In 2024, the United Kingdom Agricultural Machinery Market size is expected to reach USD 2.69 billion.
Who are the key players in United Kingdom Agricultural Machinery Market?
CLAAS KGaA mbH, Deere & Company, CNH Industrial NV, Kubota Corporation and AGCO Corporation are the major companies operating in the United Kingdom Agricultural Machinery Market.
What years does this United Kingdom Agricultural Machinery Market cover, and what was the market size in 2023?
In 2023, the United Kingdom Agricultural Machinery Market size was estimated at USD 2.55 billion. The report covers the United Kingdom Agricultural Machinery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Agricultural Machinery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Farm Machinery in UK Industry Report
Statistics for the 2024 Farm Machinery in UK market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Farm Machinery in UK analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
