General Development Economic Development of the Agricultural Machinery Industry

The years 2011 and 2012 represent a dynamic upswing of the markets for the European and global agricultural machinery industry. Based on higher agricultural income, investment in farming technology has increased with the objective to further improve productivity. Within Europe, a clear regional split between the northern and southern part has become evident over the past two years. While the markets in the north showed considerable growth, sales of new machinery dropped analogically with the overall economic depression in these countries. The European agricultural machinery manufacturers meanwhile are focusing more on Asian countries, especially China, which are new markets for their technological level. Above average growth still is seen for the big markets in the Community of Independent States (CIS).