Major farm machinery manufacturers by revenue

With revenue streams of around 35.4 billion U.S. dollars, Deere & Company was the world’s largest farm machinery manufacturer in 2022, ahead of CNH Industrial and Kubota. CNH Industrial N.V. sells agricultural and construction equipment under its Case and New Holland brands and is registered in North Holland, although its corporate offices are located in London. The top five is rounded off by AGCO and Claas. In 2019, AGCO has announced launching its German-made Fendt line in Brazil. Alongside its peer German competitor Claas as well as CNH’s Austria-based Steyr brand, Fendt is among Germany’s leading tractor manufacturers.

 Tractor market gains traction

The market for farm machinery comprises a plethora of machines and equipment used in farming, including combines and tractors. Between 2019 and 2020, the global tractor market expanded by six percent. The advent of artificial intelligence (AI) seems to bode well for an industry which is seeking to add autonomous tractors and drones to its segments.

Selected farm machinery manufacturers worldwide in FY 2022, based on revenue (in million U.S. dollars)

Characteristic	Revenue in million U.S. dollars
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Release date

2023

More information

Region

Worldwide

Survey time period

FY 2022

Supplementary notes

Deere & Co's figure includes production and precision agriculture and small agriculture and turf.
Kubota's revenue figure includes the farm and industrial machinery segment. The figure was converted at a rate of 1,000 JPY = 7.629 USD (as of December 31, 2022).
CNH Industrial's figure includes the agriculture segment.
AGCO's figure includes total net sales.
Claas' figure includes the agricultural equipment division. The value was converted at a rate of 1 EUR = 0.9701 USD (as of September 30, 2022).

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