Tractors & Agricultural Machinery Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: November 2023
NAICS 33311CARevenue
$5.3bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
14,999
Businesses
488
Wages
$XXX.Xm
Tractors & Agricultural Machinery Manufacturing in Canada industry analysis
Agricultural machinery manufacturers in Canada have had tepid growth despite fluctuating demand over the five years to 2023. These companies manufacture a variety of products, including tractors and harvesters, that are essential to modern-day farming. While these products are ubiquitous on farms, revenue remains exposed to the volatility of farm income, which affects farm demand for new equipment. Agricultural machinery manufacturers have endured uneven demand from farms in Canada and the United States as agricultural commodity prices had increased volatility in recent years, especially amid the COVID-19 pandemic, though subsidies muted this trend. Revenue is anticipated to climb at a CAGR of 1.0% to reach $5.3 billion in 2023, when revenue is set to rise 0.1% as the economy continues to normalize following the pandemic. Profit has also inched upward as technological advances have encouraged farmers to buy new machines.
Trends and Insights
- Despite the COVID-19 pandemic, agricultural machinery manufacturers have expanded in recent years. They fulfill an essential spot on the supply chain for farmers.
- The value of exports of planting machinery has doubled since 2018. Agricultural machinery manufacturers have introduced new precision cropping tools.
- Prairie provinces' share of industry locations outstrip their population share. Agricultural machinery manufacturers locate close to farmers to reduce transportation costs.
- The high capital costs required to start a manufacturing company can dissuade entrants. Agricultural machinery manufacturers require a lot of heavy machinery.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 1.0 % over the past five years, to reach an estimated $5.3bn in 2023.
Trends and Insights
Agricultural machinery manufacturers insulated from steep decline
- While Canadian tractor and agricultural machinery manufacturers have had revenue decline in some years, they have mostly been insulated from consistent, steep decline.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Changing regulations can alter manufacturing processes
- Governments have been introducing increasingly stringent environmental and emissions regulations for vehicles and engine manufacturers have been focused on improving efficiency while cutting down emissions.
Biggest companies in the Tractors & Agricultural Machinery Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
CNH Industrial NV | 656.9 | 33.3 | 5.1 | |
Buhler Industries Inc. | 120.7 | N/A | N/A | |
Alamo Group Inc. | 52.5 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Tractors and attachments, Harvesting machinery and consumer products and Dairy farm equipment. Tractors and attachments is the largest segment of the Tractors & Agricultural Machinery Manufacturing in Canada.
Trends and Insights
Planting machinery has expanded as a share of revenue
- Accounted for in this segment, sales of machinery used for preparing soil and planting crops have grown as a share of revenue in recent years.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hand Tool & Cutlery Manufacturing in Canada
- Construction Machinery Manufacturing in Canada
- Forklift & Conveyor Manufacturing in Canada
Complementors
- There are no industries to display.
International industries
- Tractors & Agricultural Machinery Manufacturing in the US
- Precision Agriculture Systems & Services in the US
- Agricultural Machinery Manufacturing in Australia
- Agricultural Machinery Manufacturing in New Zealand
- Agricultural & Forestry Machinery Manufacturing in the UK
Table of Contents
About this industry
Industry definition
The Tractors and Agricultural Machinery Manufacturing industry in Canada manufactures agricultural machinery and equipment and powered home lawn and garden equipment. Agricultural equipment includes tractors, harvesting and seeding machinery and other machinery, such as grinders, mixers, wool presses and windmills.
What's included in this industry?
Manufacturing farm tractors and attachmentsManufacturing harvesting equipment and machineryManufacturing irrigation equipmentManufacturing seedersManufacturing sprayers and spreadersManufacturing powered-agricultural mowersManufacturing livestock feeding and watering equipmentCompanies
CNH Industrial NVBuhler Industries Inc.Alamo Group Inc.Purchase this report to view all 4 major companies in this industry.
Related Terms
COMBINESEEDERTILLAGEIndustry Code
NAICS 333110 - Tractors & Agricultural Machinery Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Despite the COVID-19 pandemic, agricultural machinery manufacturers have expanded in recent years. They fulfill an essential spot on the supply chain for farmers.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The value of exports of planting machinery has doubled since 2018. Agricultural machinery manufacturers have introduced new precision cropping tools.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Prairie provinces' share of industry locations outstrip their population share. Agricultural machinery manufacturers locate close to farmers to reduce transportation costs.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
The high capital costs required to start a manufacturing company can dissuade entrants. Agricultural machinery manufacturers require a lot of heavy machinery.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most companies are small, as more than half of agricultural equipment manufacturers have fewer than five employees. This fragmentation diminishes market share for the larger ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of CNH Industrial NV's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Buhler Industries Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Alamo Group Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for CNH Industrial NV, and factors influencing its performance in the industry
- Description and key data for Buhler Industries Inc., and factors influencing its performance in the industry
- Description and key data for Alamo Group Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
There is little tariff protection for Canadian agricultural machinery manufacturers. Imports satisfy a large proportion of domestic demand for tractors and agricultural machi...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit is on the rise for agricultural machinery manufacturers. They’ve been able to successfully pass on increases in input costs to downstream customers.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Tractors & Agricultural Machinery Manufacturing industry in Canada in 2024?
The market size of the Tractors & Agricultural Machinery Manufacturing industry in Canada is $5.3bn in 2024.
How many businesses are there in the Tractors & Agricultural Machinery Manufacturing in Canada industry in 2023?
There are 488 businesses in the Tractors & Agricultural Machinery Manufacturing industry in Canada, which has declined at a CAGR of 0.6 % between 2018 and 2023.
Has the Tractors & Agricultural Machinery Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Tractors & Agricultural Machinery Manufacturing industry in Canada has been growing at a CAGR of 1.0 % between 2018 and 2023.
What is the forecast growth of the Tractors & Agricultural Machinery Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Tractors & Agricultural Machinery Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Tractors & Agricultural Machinery Manufacturing market in Canada?
The biggest companies operating in the Tractors & Agricultural Machinery Manufacturing market in Canada are CNH Industrial NV, Buhler Industries Inc. and Alamo Group Inc.
What does the Tractors & Agricultural Machinery Manufacturing in Canada include?
Manufacturing farm tractors and attachments and Manufacturing harvesting equipment and machinery are part of the Tractors & Agricultural Machinery Manufacturing industry.
Which companies have the highest market share in the Tractors & Agricultural Machinery Manufacturing in Canada?
The company holding the most market share in Canada is CNH Industrial NV.
How competitive is the Tractors & Agricultural Machinery Manufacturing industry in Canada?
The level of competition is moderate and steady in the Tractors & Agricultural Machinery Manufacturing industry in Canada.
