Brazil agricultural machinery market

Brazil Agricultural Machinery Market Overview

Brazil agricultural machinery market is projected to grow at a CAGR of 4.1% to 5.3% in next seven years due to rising adoption of the modern farming techniques along with government support by providing subsidy to farm owners to increase the sales of the agricultural equipment.

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Major Brazil Agricultural Machinery Market Drivers

Brazil is the one of the largest country in terms of the arable land and population. The country is a major producer of various agricultural products such as cotton, cattle, soybeans and others across the globe. Brazil is the leading supplier of various crops such as coffee and soybeans. Due to the expansion in the arable land and technological advancements of agricultural machinery has transformed the agriculture in Brazil. The government of Brazil planned to expand arable land by 60% without cutting trees, which will increase agricultural land in Brazil to 105 million hectares from 65 million hectares. The government also planned to invest 110 billion euros in next 10 years and planned to cultivate agriculture crops like soybeans.

Rising mechanization across small and medium scale farms to increase productivity and to improve farm efficiency is driving the Brazilian agricultural machinery market. Rapid adoption of the advanced farming technologies such as precision farming, automation and GPS to increase the farm productivity and to boost overall farm management. Adoption of precision farming technology is creating opportunities for the Brazilian agriculture equipment market as it offer benefits to farmers like proper utilization of resources and monitoring of crop health. Even, key players in the market are collaborating with technology providers to educate farmers. However, high cost of the agriculture equipment in Brazil is expected to hinder the market growth in near future.

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Brazil government taken various favorable initiatives and subsidies to encourage farm owners to adopt modern farm equipment. This will further boost the agriculture production and reduce manual labor. Government of Brazil is also providing incentives to farmers for purchasing agricultural equipment in Brazil is supporting the market growth. Growing awareness regarding the benefits of modern agricultural machinery among farmers to reduce the crop production cost and to boost production are further pushing them to use these advanced machineries in their farms. For instance, agricultural production area for plantation in Brazil increased to 86.7 mn hectares in 2021 as compared to 2020.

Brazil agricultural tractors market is expected to grow at the fastest rate due to the increasing use of tractors among farmers. Advancement in tractors such as performance and efficiency, automated steering systems is further encouraging farm owners to use for agriculture purposes. In 2021, Mahindra introduced premium tractor in Brazil to cater to the increasing farmers demand for tractor. Moreover, increased farm labor costs and high demand for compact tractors are likely to create more demand for markets for agricultural tractors during the forecast period. Brazil government introduced agricultural and livestock plan to provide low interest rates compared to market to farmers.

Brazil agricultural equipment market is dominated by domestic and international players such as AGCO Corporation, Deere & Company, Kubota Corp, and CNH Industrial. Brazil agricultural machinery companies are adopting various strategies, product expansion to provide better quality and after sales services to farmers. For example, CNH Industrial introduced cost-effective farm tractors through its brand i.e., New Holland Agriculture in 2023. Agriculture equipment manufacturers are focusing on eco-friendly solutions due to the increasing need for the sustainable farming practices and growing environment concerns across the country.

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GMI Research report on Brazil’s agricultural equipment market covers detailed analysis of Brazil agricultural machinery market size and growth, agricultural area in Brazil, demand for agricultural machinery, agricultural infrastructure, agricultural production in Brazil, heavy agricultural machinery, key players launches to boost the market growth.