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Agricultural Machinery - UK - March 2015

“The UK market for agricultural machinery is expected to contract by 3% in real terms in 2015, as falling commodity prices in 2014 are likely to negatively affect spending levels during the current year. Between 2016 and 2019 agricultural machinery demand is anticipated to demonstrate moderate annual growth. Market development is expected to be largely driven by innovation, reflecting the continued trend towards automation and adoption of precision farming techniques.”
– Claudia Preedy, Industrial Analyst

This report answers the following key questions:

  • How has the market performed over the last five years?
  • What is the impact of the legislative and regulatory environment on the market?
  • What has been the financial performance of key players in recent years?
  • What innovations are driving market development?
  • How will the market develop over the next five years?

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Table of contents

  1. Executive Summary

      • The market
        • UK agricultural machinery market up by an estimated 4% in 2014
          • Figure 1: The UK market for agricultural machinery, 2010-14
        • Tractor demand negatively affected by farmers’ cautious approach to machinery spending in 2014
          • Demand for agricultural equipment (excl. tractors & trailers) up by an estimated 7% in 2014 due to strong upturn in parts sales
            • Figure 2: Segmentation of the UK market for agricultural machinery, 2014
          • UK apparent consumption of agricultural machinery expected to contract by 3% in real terms in 2015
            • Figure 3: Forecast UK market for agricultural machinery, 2015-19
          • Market factors
            • Changes to EU farm subsidy payment system in 2015 add uncertainties to the agricultural machinery market
              • Farm income strongly affected by unpredictable external factors
                • Figure 4: Total income from farming in the UK, 2003-13
              • Structural changes in farming affecting demand for agricultural machinery
                • Adoption of precision farming techniques driving innovation in agricultural equipment market
                  • Companies
                    • What we think
                    • Key Insights

                        • How does the consolidation of the farming industry affect the equipment market?
                          • How is innovation driving market development?
                            • Is the industry set to further concentrate and internationalise?
                              • Is the tractor market expected to become more competitive over the next five years?
                                • What challenges does the integration of telematics into agricultural machinery present to the distribution network?
                                • Introduction

                                    • Definitions
                                      • Methodology
                                        • Abbreviations
                                          • Market positioning
                                          • UK Economy

                                            • Overview
                                              • Inflation
                                                • Interest rates
                                                  • House prices
                                                    • Consumer spending
                                                      • Manufacturing
                                                        • Business investment
                                                          • Imports
                                                            • Exports
                                                            • Market Factors

                                                              • Key points
                                                                • Market factors
                                                                  • Common Agricultural Policy (CAP) up to 2013
                                                                    • CAP Reform 2014-20
                                                                      • Currency
                                                                        • Farm income
                                                                          • Key analysis
                                                                            • Figure 5: Total income from farming in the UK, 2003-13 (£ million at current prices)
                                                                            • Figure 6: UK farming production and expenditure, 2009-13 (£ million at current prices)
                                                                            • Figure 7: Average farm business income per farm in England, 2010/11-13/14 (£/farm at current prices)
                                                                            • Figure 8: Farm gate price index, 1999-2014
                                                                          • Structural changes
                                                                            • Annual Investment Allowance
                                                                              • Increase in tractor weight and speed limits
                                                                                • Attractiveness of farming for lending
                                                                                • Market Size and Segmentation

                                                                                  • Key points
                                                                                    • Market size
                                                                                      • Key analysis
                                                                                        • Figure 9: The UK market for agricultural machinery, 2010-14 (£ million at MSP)
                                                                                      • Market segmentation
                                                                                        • Overview
                                                                                          • Figure 10: Segmentation of the UK market for agricultural machinery, 201014 (£ million at MSP)
                                                                                          • Figure 11: Segmentation of the UK market for agricultural machinery, 201014
                                                                                        • Tractors
                                                                                            • Figure 12: UK market for tractors, 2010-14 (Units, £ million at MSP and average value in £ at MSP)
                                                                                          • Trailers for agricultural purposes
                                                                                            • Figure 13: The UK market for trailers for agricultural purposes, 2010-14 (£ 000)
                                                                                          • Other agricultural equipment
                                                                                              • Figure 14: The UK market for agricultural equipment, excluding tractors and trailers, 2010-14 (£ million at MSP)
                                                                                              • Figure 15: Segmentation of the UK market for agricultural equipment, excluding tractors and trailers used for agricultural purposes, by type, 2010-14 (£ 000 at MSP)
                                                                                              • Figure 16: Segmentation of the UK market for agricultural equipment, excluding tractors and trailers used for agricultural purposes, by type, 2014
                                                                                          • Market Trends

                                                                                            • Key points
                                                                                              • Overview
                                                                                                • Technology and innovation
                                                                                                  • Adoption of GPS technology driven by move towards precision farming techniques
                                                                                                    • Development of advanced telematics systems
                                                                                                      • Higher throughput of combine harvester
                                                                                                        • Focus on safety of machines and operators
                                                                                                          • Integration of automation and robotics in farming industry
                                                                                                            • Increased popularity of ATVs and UTVs
                                                                                                              • Development of agricultural land use and live stock number
                                                                                                                • Figure 17: UK agricultural cropping land use, by type, 2010-14 (000 hectares)
                                                                                                                • Figure 18: UK livestock numbers, by type, 2010-14 (000 heads)
                                                                                                              • Equipment replacement cycle
                                                                                                                • Tractor registrations
                                                                                                                  • Figure 19: UK agricultural tractor registrations, 2004-14 (Number and hp)
                                                                                                                  • Figure 20: UK agricultural tractor registrations, 2005-14
                                                                                                                • Plant protection products (sustainable use) regulations 2012
                                                                                                                  • Increased professionalism of farming community
                                                                                                                    • Regionality of sales
                                                                                                                      • Figure 21: Regional analysis of agricultural businesses, by size and country, 2013 (Hectares and 000 holdings)
                                                                                                                      • Figure 22: Regional analysis of farm business income in England, 2012/13-13/14 (£/farm)
                                                                                                                  • Distribution

                                                                                                                    • Key points
                                                                                                                      • Overview
                                                                                                                          • Figure 23: Analysis of the financial structure of the agricultural machinery wholesale industry, 2013-14 (£ 000 and number of companies)
                                                                                                                      • Supply Sources

                                                                                                                        • Key points
                                                                                                                          • Production
                                                                                                                            • Overview
                                                                                                                              • Figure 24: UK production of agricultural machinery, 2010-14 (£ million at MSP)
                                                                                                                              • Figure 25: UK production of agricultural machinery, 2010-14
                                                                                                                            • Tractors
                                                                                                                              • Figure 26: UK production of tractors, 2010-14(Units, £ million at MSP and average value in £ at MSP)
                                                                                                                            • Trailers used for agricultural purposes
                                                                                                                              • Figure 27: UK production trailers used for agricultural purposes, 2010-14 (£ 000 at MSP)
                                                                                                                            • Other agricultural equipment
                                                                                                                              • Figure 28: UK production of agricultural equipment, by type, 2010-14 (£ 000 at MSP)
                                                                                                                            • Imports
                                                                                                                              • Overview
                                                                                                                                • Figure 29: UK imports of agricultural machinery, 2010-14 (£ million at CIF)
                                                                                                                              • Tractors and trailers
                                                                                                                                  • Figure 30: UK imports of tractors and trailers, 2010-14 (£ 000 at CIF)
                                                                                                                                • Other agricultural equipment
                                                                                                                                  • Figure 31: UK imports of agricultural equipment by type, 2010-14 (£ 000 at CIF)
                                                                                                                                  • Figure 32: UK imports of agricultural equipment by type, 2014
                                                                                                                                • Exports
                                                                                                                                  • Overview
                                                                                                                                    • Figure 33: UK exports of agricultural machinery, 2010-14 (£ million at FOB)
                                                                                                                                  • Tractors
                                                                                                                                    • Figure 34: UK exports of tractors, 2010-14 (Units, £ million at FOB)
                                                                                                                                  • Trailers used for agricultural purposes
                                                                                                                                    • Figure 35: UK exports of trailers used for agricultural purposes, 2009-14 (Units, £ 000 at FOB)
                                                                                                                                  • Other agricultural equipment
                                                                                                                                    • Figure 36: UK exports of agricultural equipment by type, 2010-14 (£ 000 at FOB)
                                                                                                                                  • Trade surplus/deficit
                                                                                                                                    • Overview
                                                                                                                                      • Figure 37: Segmentation of UK trade surplus/deficit of agricultural machinery, 2010-14 (£ million)
                                                                                                                                      • Figure 38: Trade deficit of agricultural machinery, 2010-14
                                                                                                                                  • Industry Structure

                                                                                                                                    • Key points
                                                                                                                                      • Industry development
                                                                                                                                        • Key analysis
                                                                                                                                            • Figure 39: Analysis of the changes in the structure of the agricultural and forestry machinery manufacturing industry in the UK, 2010-14 (Number of factories and businesses)
                                                                                                                                          • Structure by employment
                                                                                                                                            • Figure 40: Analysis of the employment of the agricultural and forestry machinery manufacturing industry, 2013-14 (Number of factories and employment level)
                                                                                                                                          • Structure by turnover
                                                                                                                                            • Figure 41: Analysis of the financial structure of the agricultural and forestry machinery manufacturing industry, 2013-14 (£ 000 and number of companies)
                                                                                                                                            • Figure 42: Analysis of the agricultural and forestry machinery manufacturing industry, by turnover size band, 2014
                                                                                                                                          • Company profiles
                                                                                                                                            • AGCO
                                                                                                                                                • Figure 43: Financial analysis of AGCO, 2009-13 (£ million)
                                                                                                                                              • Alamo Manufacturing Services (UK)
                                                                                                                                                  • Figure 44: Financial analysis of Alamo Manufacturing Services (UK), 2009-13 (£ 000)
                                                                                                                                                • Claas UK
                                                                                                                                                    • Figure 45: Financial analysis of Claas UK, 2010-14 (£ million)
                                                                                                                                                  • CNH UK
                                                                                                                                                    • Recent production performance and outlook
                                                                                                                                                        • Figure 46: Financial analysis of CNH UK, 2009-13 (£ million)
                                                                                                                                                      • Ifor Williams Trailers
                                                                                                                                                          • Figure 47: Financial analysis of Ifor Williams Trailers, 2010-14 (£ 000)
                                                                                                                                                        • JCB Landpower
                                                                                                                                                          • Figure 48: Financial analysis of JCB Landpower, 2009-13 (£ 000)
                                                                                                                                                        • John Deere
                                                                                                                                                          • Figure 49: Financial analysis of John Deere, 2009-13 (£ 000)
                                                                                                                                                        • Kuhn Farm Machinery (UK)
                                                                                                                                                          • Figure 50: Financial analysis of Kuhn Farm Machinery (U.K.), 2009-13 (£ 000)
                                                                                                                                                        • Kverneland Group (UK)
                                                                                                                                                            • Figure 51: Financial analysis of Kverneland Group (UK), 2009-13 (£ 000)
                                                                                                                                                          • Peacock & Binnington
                                                                                                                                                            • Figure 52: Financial analysis of Peacock & Binnington, 2009-13 (£ 000)
                                                                                                                                                          • R J Fullwood and Bland
                                                                                                                                                            • Figure 53: Financial analysis of R J Fullwood and Bland, 2009-13 (£ 000)
                                                                                                                                                          • Vaderstad
                                                                                                                                                              • Figure 54: Financial analysis of Vaderstad, 2009-13 (£ 000)
                                                                                                                                                          • Forecast

                                                                                                                                                            • Key points
                                                                                                                                                              • Market size
                                                                                                                                                                • Innovation and product development
                                                                                                                                                                  • Figure 55: Forecast UK market for agricultural machinery, 2015-19 (£ million at 2014 prices)
                                                                                                                                                                • Key analysis:
                                                                                                                                                                  • Figure 56: Forecast UK market for agricultural machinery, 2014-19
                                                                                                                                                                • Production
                                                                                                                                                                  • Figure 57: Forecast UK production of agricultural machinery, 2015-19 (£ million at 2014 prices)
                                                                                                                                                                  • Figure 58: Forecast UK production of agricultural machinery, 2015-19
                                                                                                                                                                • Imports
                                                                                                                                                                  • Figure 59: Forecast UK imports of agricultural machinery, 2015-19 (£ million at 2014 prices)
                                                                                                                                                                  • Figure 60: Forecast UK imports of agricultural machinery, 2015-19
                                                                                                                                                                • Industry
                                                                                                                                                                  • Key analysis
                                                                                                                                                                  • Further Sources and Contacts

                                                                                                                                                                    • Trade association
                                                                                                                                                                      • Agricultural Engineers Association
                                                                                                                                                                        • British Agricultural & Garden Machinery Association
                                                                                                                                                                          • Agricultural Industries Confederation
                                                                                                                                                                            • Institution of Agricultural Engineers
                                                                                                                                                                              • Trade magazines
                                                                                                                                                                                • Agricultural Engineering Abstracts (Monthly)
                                                                                                                                                                                  • The Bulletin BAGMA (Bi-monthly)
                                                                                                                                                                                    • Farm Contractor & Large Scale Farmer (Monthly)
                                                                                                                                                                                      • Farm Trader (Monthly)
                                                                                                                                                                                        • Farmers Guardian (Weekly)
                                                                                                                                                                                          • The Farmers Mart (Monthly)
                                                                                                                                                                                            • Farmers Weekly (Weekly)
                                                                                                                                                                                              • Profi International (Monthly)
                                                                                                                                                                                                • Trade exhibitions
                                                                                                                                                                                                  • LAMMA 2016
                                                                                                                                                                                                    • MACH 2016

                                                                                                                                                                                                    Companies Covered

                                                                                                                                                                                                    To learn more about the companies covered in this report please contact us.

                                                                                                                                                                                                    Agricultural Machinery - UK - March 2015

                                                                                                                                                                                                    £995.00 (Excl.Tax)