$2.7bn
$XXX.Xm
6,629
833
$XXX.Xm
In recent years, the Agricultural Machinery Manufacturing industry has experienced a remarkable surge in demand, bolstered by favourable weather conditions and increased crop production. Heightened rainfall in 2020 to 2022 drove up sales to downstream markets, particularly farmers that needed agricultural machinery to accommodate higher crop output. However, the onset of El Nino conditions in 2023-24 is set to reduce annual rainfall levels. As a result, downstream markets are grappling with weaker crop production, ultimately reducing requirements for agricultural machinery. Despite the government’s efforts to encourage investment through tax relief measures, climbing interest rates have tempered private capital expenditure on agricultural machinery. That’s why revenue is anticipated to fall by 6.7% in 2023-24. Even so, the preceding surge in demand has resulted in industry revenue being expected to expand at an annualised 2.9% over the five years through 2023-24, to $2.7 billion.
Industry revenue has grown at a CAGR of 2.9 % over the past five years, to reach an estimated $2.7bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Briggs & Stratton Australia Pty Ltd | 28.0 | |
Silvan Australia | 28.0 |
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Industry revenue is measured across several distinct product and services lines, including Planting machinery, Harvesting machinery and Agricultural machinery. Planting machinery is the largest segment of the Agricultural Machinery Manufacturing in Australia.
Urbanisation trends have dampened sales of agricultural machinery
Industry firms mainly manufacture agricultural machinery, equipment and specialised parts. This machinery includes lawn mowers, and planting and harvesting equipment. Firms that mainly repair agricultural equipment and machinery are excluded from the industry.
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ANZSIC 2461 - Agricultural Machinery Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Farm incomes have shot up in recent years, stimulating investment in new machinery and bolstering industry revenue. Domestic manufacturers can better cater to Australian farm...
Learn about an industry's products and services, markets and trends in international trade.
Unfavourable growing conditions are weakening sales of planting machinery in 2023-24. Farming production volumes have dipped significantly amid El Nino conditions, following ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Industry manufacturers are mainly concentrated in New South Wales, Victoria and Queensland. These states lead in Australia’s agricultural production and contribute significan...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The Agricultural Machinery Manufacturing industry is marked by intense internal competition. The industry is highly fragmented, which is why manufacturing firms tend to focus...
Learn about the performance of the top companies in the industry.
No companies in the Agricultural Machinery Manufacturing industry account for a substantial share of the market. Most local manufacturers produce specialised machinery, while...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Potential new legislation relating to the maintenance and repair of agricultural machinery could influence local manufacturers over the coming years. New right-to-repair laws...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
In recent years, strengthening sales of niche Australian machinery products have supported profitability. But weakening demand from agriculture has put pressure on revenue fo...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Agricultural Machinery Manufacturing industry in Australia is $2.7bn in 2024.
There are 833 businesses in the Agricultural Machinery Manufacturing industry in Australia, which has declined at a CAGR of 0.3 % between 2019 and 2024.
The market size of the Agricultural Machinery Manufacturing industry in Australia has been growing at a CAGR of 2.9 % between 2019 and 2024.
Over the next five years, the Agricultural Machinery Manufacturing industry in Australia is expected to decline.
The biggest companies operating in the Agricultural Machinery Manufacturing market in Australia are Briggs & Stratton Australia Pty Ltd and Silvan Australia
Planting machinery and Harvesting machinery are part of the Agricultural Machinery Manufacturing industry.
The company holding the most market share in Australia is Briggs & Stratton Australia Pty Ltd.
The level of competition is high and steady in the Agricultural Machinery Manufacturing industry in Australia.