Tractor sales have reached new heights in an overwhelmingly positive result for the agricultural industry in Europe and beyond in data from the Federazione Nazionale Costruttori Macchine per l'Agricoltura (FederUnacoma).
Agricultural Market Bounces Back with a Vengeance
In illuminating data from the FederUnacoma, the market is buoyant and going from stride to stride, surpassing many other industries still blighted by the Covid-19 fallout. The results for the end of 2020 were undoubtedly positive, however, in statistics from around the world, 2021 is proving to be a great yield in terms of agricultural machinery.
Starting with the biggest market, India has seen registrations jump by 25% with total sales for the first nine months at a huge 680,000 new vehicles. The U.S. has seen half the growth of India at 12% but a still-impressive 246,000 vehicles registered.
Focusing on Europe, Italy saw continued growth which has galvanised the market. With a 44% increase and 18,510 vehicles to date, this represents a strong share of agricultural machinery within the EU and a rise well above the continental average. Germany, the UK and Spain have all seen growth spurts, with sales and growth percentages respectively of 25,700, 11,247 and 8,245, amounting to 6.8%, 20% and 13% increases on 2020's results.
Representing the bridge between Europe and Asia, Turkey saw the highest increase yet with a 49% rise in machinery, amounting to over 39,000, although, contextually this is still just a little over half of the pre-pandemic levels for 2017 (73,000), when Turkey was fighting an economic crisis. Russia saw heavy increases in the first six months of the year too, with a fortifying 24.4% boost, making for 17,400 machines. Comparably, in Japan for the same six-month period bettered Russia adding sales amounting to a third more than 2020, or 35.7% and 10,70 vehicles.
Opening the EIMA International Conference, FederUnacoma President, Alessandro Malavolti Offers Context for High Figures
Noting that economic recovery encourages investment, Malavolti said of the figures: "This market boom is due to a set of reasons. It's partly linked to the global economic recovery, with the increase in world GDP expected to be 5.9% in 2021 and 4.9% in 2022, and partly linked to the good performance of agriculture and its growth prospects in the coming years, which make it necessary to invest in new-generation technologies. The good performance of yields in some areas of Eastern Europe and Australia has also helped harvest production."
Looking forward, Malavolti notes, "Together with quantity, the quality of production will also have to increase to meet the demand for high-quality food and the growing consumption of fruit and vegetables in particular.”
The EIMA (International Agricultural and Gardening Machinery Exhibition) is currently taking place until 23rd October in Bologna and industry insiders from around the world are expected to attend.