Agricultural machinery the Australian market slows down in 2023

In 2023 with a total of 14,500 units sold the Australian tractor market slows down and loses 25 percentage points compared to 2022. The data processed by the TMA, the Australian association of agricultural machinery manufacturers, highlights drops for all categories: the power classes from 0 to 40 horsepower lose 30%, those from 40 to 100 28%, while the ranges from 100 to 200 HP and the bands over 200 HP drop by 26% and -6% respectively. Other types of agricultural vehicles are also losing ground; in particular combine harvesters which, with 1,100 units registered, are down 7% compared to 2022. Estimates for the near future are conflicting. According to TMA forecasts, after the record levels reached in 2021 and 2022, when tractor sales exceeded 17,000 per year, in 2024 the sector should return to the volumes of pre-pandemic years. However, the unpredictable effects linked to the Nino meteorological phenomenon and the problems relating to the supply chain could change the market scenarios in the short and medium term.

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