Mexico Agricultural Machinery Market

Mexico Agricultural Machinery Market Overview

Mexico agricultural machinery market is predicted to increase over the next several years owing to the growing demand for agricultural machinery, farm mechanization in agriculture sector, favorable government policies and growth in the agricultural sector.

Major Mexico Agricultural Machinery Market Drivers

Mexico agriculture industry has vast cultivated land area. The country has tried to make its agribusiness equipment industry and majorly focused on low-end items. Mexico is dependent to meet the demand for agricultural machinery and equipment on international suppliers. The government promoted farm mechanization which can increase the sales of agricultural machinery in Mexico. For instance, US and Mexico has built strong relationship for agricultural machinery market.

The market is driven by the increasing awareness about the benefits of using advanced agricultural machinery due to the shortage of farm labor and reduction in the arable land across the Mexico. This has further created the demand for autonomous tractors in the country. FAO estimated in 2019, arable land has been reduced to 96,106 thousand hectares as compared to the previous year. Increasing investment on R&D activities for advancement in the agricultural equipment is further boosting the Mexican Agricultural Machinery Market. As per the International Labor Organization, Mexico employed 6,752 thousand skilled human resources in agriculture sector in 2021. Rapid automation in the agriculture and farming sector with the rising population growth is supporting the Mexico agricultural equipment market. This further leads to high demand for food across the country. Mexican government is actively promoting agriculture export benefits to enable agricultural mechanization and providing supports and financial help for the purchase of agriculture machinery and equipment are also augmenting the Agricultural Machinery market.

Due to the shortage in the cheap labor and decrease in the agricultural land has increased adoption rate of advanced technologies like autonomous tractors provide better management of farm resources, providing a boost to the overall market in near future. However, high cost associated with the purchase of agricultural machinery and equipment is hindering the market growth.

Mexico Agricultural Tractors market is predicted to dominate the market.

The major factors propelling the market growth includes rise in farm mechanization, increasing government aid and high demand for modern farming practices. Due to the technological advancement such as precision planting, sensors, GPS, automation and satellite navigation systems has improved the overall performance of tractor and increase productivity levels, providing huge growth potential for the tractor industry. For instance, federal government launched agricultural programs of USD 53.7 million to boost the agriculture industry for fertilizers, pesticides, machinery, among others in 2020.

High adoption rate of tractors among large farmers to maximise their farm productivity and efficiency. Mexican government has introduced various initiatives for farmers to invest in smart machineries like tractors and to improve the quality of farm production. This has further encouraged small and medical scale farmers to purchase advanced agricultural equipment.

Segments covered in the Report:

The Mexico Agricultural Machinery Market has been segmented on the basis of Type. Based on the Type the market is segmented into Plowing and Cultivating Machinery, Haying and Forage Machinery, Tractors, Planting Machinery, Harvesting Machinery and Others.

Market Segmentation

Mexico Agricultural Machinery Market by Type

• • Tractors
  • Plowing and Cultivating Machinery
  • Planting Machinery
  • Harvesting Machinery
  • Haying and Forage Machinery
  • Others