The well known economic theory about the agriculture machinery business is that it is cyclical like agriculture: when agricultural commodities price goes up, the demand for the agricultural machinery tend to rise accordingly. The European Commission has always compared tractors to cars, and both tractors and cars belong to the same administrative unit inside the Commission. As a result, most of the EU’s regulations on tractors have derived from regulations originally designed for the automotive sector. The European agricultural equipment market is one of the highly developed markets. According to Renub Research, the Europe Agriculture Equipment Market will be US$ 75.3 Billion by 2027.
The European Agricultural Machinery Association (CEMA) represents an industry with 7,000 companies spread worldwide, from numerous SMEs to multinationals and 150,000 direct employees. They produce a variety of 450 types of machines with an annual turnover of €26 billion. This machinery equipment covers any field activity from seeding to harvesting and livestock equipment, helping customers get the most out of their land, protecting the environment while bringing economic benefits. As per our research report, the Agriculture Equipment Market in Europe will grow with a CAGR of 6.08% during 2020-2027.
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Besides, government administrations across Europe have provided various supports to the farmers, such as loans, subsidies and easy installments plans for purchasing better agricultural equipment and other farm machinery. Overall initiatives further encourage the farmers to increase their productivity and cultivation to fulfill the consumers’ growing demand for better food products. The European Agricultural Equipment Industry was US$ 49.8 Billion in 2020.
Germany Agriculture Equipment Industry
The German Association of Agricultural Employers (GLFA), Most of the seasonal immigrant labour has peaked during Germany’s harvest times, fell drastically over the course of time. The shortage of labour has led to the usage of tractors in the county. Factors like superior productivity through mechanization, and labour deficiency, have led to the expansion of the agriculture equipment demand in this region. According to the European Agricultural Machinery Association CEMA, around 177,000 tractors registered across Europe in 2018. Of these registrations, 39,784 tractors be under 50 hp and, consequently, 137,503 above 50 hp.
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