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Revenue of the world's largest farm machinery manufacturers 2020

With related revenue streams of around 32 billion U.S. dollars, Deere & Company was the world’s largest farm machinery manufacturer in 2020, ahead of 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 four is rounded off by Komatsu and AGCO. The latter has recently announced to launch 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 2018 and 2026, the tractor market is expected to grow at a compound annual growth rate of 4.4 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 2020, based on revenue

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Sources

Release date

2021

Region

Worldwide

Survey time period

FY 2020

Supplementary notes

The Deere & Co figures was taken from the company's 2020 annual report, published in 2021.The figure includes agricultural and turf net sales and construction and forestry net sales.
The CNH Industrial NV figure was taken from the company's 2020 annual report published in 2021. The figure includes the Agriculture segment.
The Kubota figure was taken from the company's financial results, published in 2021 and includes the 'Farm & industrial machinery' segment. The figure was converted at a rate of 1,000 JPY = 9.9656 USD (as of December 31, 2020).
The AGCO figure was taken from the company's 2020 annual report, published in 2021. The figure includes revenue stream from the sales the following products: tractors, replacement parts, grain storage and protein production systems, combines, application equipment, other machinery.

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