Hyderabad, Aug. 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Brazil Agricultural Machinery Market Report (2023-2028)," the market is estimated at USD 4.82 billion in 2023. It is expected to register a CAGR of 6.10% during the forecast period.
Agriculture in Brazil is well developed. The country is a major exporter of various agricultural commodities. The large agricultural land and potential for expansion offer abundant opportunities for the agricultural machinery market. Farmers in Brazil are increasingly adopting advanced agricultural equipment to improve production and reduce costs. Larger farm owners are acquiring smaller ones in the country, leading to higher demand for efficient agricultural machinery. Technological advancements, precision farming, government initiatives, reduced import tariffs, infrastructure improvements, and the demand for soybean are driving the growth of the Brazilian agriculture equipment market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 4.82 billion |
| Market Size (2028) | USD 6.48 billion |
| CAGR (2023-2028) | 6.10% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Large agricultural land and potential for expansion. |
| Government initiatives and reduced import tariffs. |
Who are the Top Companies in the Brazil Agricultural Machinery Market?
The market is relatively consolidated and dominated by global manufacturers with a major market share. Farmers prefer international companies for assurance of quality and after-sales services offered by the big companies. Most international companies have set up local production units in the country. Most machinery sales come from domestic manufacturing.
The significant players in the Brazilian agricultural machinery market are,
- John Deere Brasil Ltda
- AGCO do Brasil
- CNH Industrial Brasil Ltda
- Kubota Tractor Corp.
- Claas KGaA mbH
- Mahindra and Mahindra Ltd
- Massey Ferguson
Other Reports That Might Be of Your Interest:
- Brazil Agricultural Tractor Machinery Market Report - The Brazilian agricultural tractor machinery market is projected to register a CAGR of 3.9% over the next five years.
- Brazil Compound Feed Market Report - The market for compound feed in Brazil is projected to register a CAGR of 5.1% over the next five years.
Key Highlights from the Brazil Agricultural Machinery Market Report:
Consolidation of Smaller Farms
- The planted area for agricultural production in Brazil reached 86.7 million hectares in 2021. Urbanization is leading rural people to move to urban areas, reducing the number of small landholding farmers and increasing the need for mechanization.
- Agricultural activities and land area are increasing in Brazil. However, the availability of enough skilled labor is a challenge. To overcome this hurdle, farmers rely on technology to enhance farm productivity.
- Consolidation of farms is becoming more common in Brazil to share the cost of heavy agricultural machinery. The number of small-holding farmers is decreasing due to reduced profits from farming, resulting in larger land holdings and increased farm mechanization.
Increased Investments in Mechanization
- The export value of agricultural machinery is rising notably. The Brazilian agricultural industry heavily invests in advanced technology to save time and fuel and reduce costs.
- Farmers in Brazil are investing in high-cost inputs, leading to positive yields in major crops. High-return profits from increased crop production and technology investment are driving farmers to adopt agricultural machinery.
- The Brazilian government's Crop Plan for the 2022-23 season offers small farmers credit at a 5% annual interest rate to purchase agricultural machinery.
- Advancements in technology and mechanization, particularly in major crops like soybeans, are expected to drive the growth of the market in the coming years.
What are the Latest Developments in the Brazil Agricultural Machinery Market?
- In September 2022, Marcher Brasil launched OUTGRAIN211, a new grain extractor that can remove grains stored in silo bags quickly with zero losses.
- In July 2022, Mahindra & Mahindra established an assembly plant in Brazil.
Mordor Intelligence has Segmented the Brazil Agricultural Machinery Market Based on Tractors, Ploughing and Cultivating Machinery, Planting Machinery, Harvesting Machinery, Haying and Forage Machinery, and Irrigation Machinery.
- By Tractors (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Below 80 HP
- 81 to 130HP
- Above 130 HP
- By Ploughing and Cultivating Machinery (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Ploughs
- Harrows
- Cultivators and Tillers
- Other Ploughing and Cultivating Machinery
- By Planting Machinery (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Seed Drills
- Planters
- Spreaders
- Other Planting Machinery
- By Harvesting Machinery (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Combine Harvesters
- Forage Harvesters
- Other Harvesting Machinery
- By Haying and Forage Machinery (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Mowers
- Balers
- Other Haying and Forage Machinery
- By Irrigation Machinery (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Sprinkler Irrigation
- Drip Irrigation
- Other Irrigation Machinery
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Brazil Agricultural Machinery Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- France Agricultural Machinery Market Report - The French agricultural machinery market is expected to register a CAGR of 3.2% over the next five years.
- United Kingdom Agricultural Machinery Market Report - The UK agricultural machinery market is projected to record a CAGR of 6.1% over the next five years.
- Japan Agricultural Machinery Market Report - The Japanese agriculture machinery market is projected to register a CAGR of 2.2% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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