Revenue of the world's largest farm machinery manufacturers 2023
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With revenue streams of around 40.8 billion U.S. dollars, Deere & Company was the world’s largest farm machinery manufacturer in 2023, ahead of Kubota Corp. and CNH Industrial. 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.
