Agricultural machinery: global demand growing, but uncertainty remains

The demand for agricultural machinery is growing globally, but markets are fragmented and the variables to be managed are increasingly complex. This in summary is the scenario outlined by the president of FederUnacoma Maria Teresa Maschio during the annual assembly, held on 25 June in Zola Predosa (Bologna). Over the last 15 years, underlined Maria Teresa Maschio, world trade in tractors has grown at an average of 4.7% per year, and forecasts for the period 2024-2027 indicate a further average annual increase of 4.9%. Demand is also growing for the item relating to other types of agricultural machinery. In the fifteen-year period considered, equipment and operating machinery has in fact recorded an average annual increase of +5%, which should be confirmed in the next four years (+5.4% per year). For the prediction to come true, however, it is necessary to hope that the meteorological trend will become more favorable again, guaranteeing production volumes and agricultural incomes that encourage investments. On the industrial front - it was explained during the Assembly - insidious variables are represented by the cost of raw materials and energy, which could undergo further increases due to the continuing tensions on the international geopolitical scene. The sanctions on Russia, as well as the import duties introduced by many countries or the policies of defense of the national product by India and China, can affect the global demand for technologies for 'agriculture.