5.6.2Segment

Agricultural & Farm Equipment

Manufacturers of tractors, harvesters, planters, and application equipment serving row crop, livestock, and specialty crop production operations globally.

5
Verticals

Overview

Agricultural & Farm Equipment covers tractors, combines, planters, harvesters, and lawn-and-garden equipment. At ~$53B it is a consolidated, brand-loyal segment dominated by global majors (John Deere, CNH Industrial, AGCO, Kubota) with strong dealer networks and aftermarket franchises.

Demand is cyclical with farm income and crop prices, and the ~10% growth reflects strong farm economics and equipment pricing in 2021–22, plus the rise of precision agriculture, autonomy, and connectivity (a major Deere strategic thrust). It is capital-intensive with attractive recurring parts and service revenue.

Market snapshot

Market size
~$53B
Growth
~10.0%CAGR (2017–22, nominal)
Companies
~1,300
FragmentationConsolidated

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 333111 (farm machinery) + 333112 (lawn & garden equipment); 2022 reflects strong farm economics and pricing.

Business model & economics

Revenue model
Equipment sales through dealers plus parts and service
Recurring revenue
Moderate–High — recurring parts, service, and precision-ag
EBITDA margin
Cyclical equipment; strong aftermarket
Capex intensity
High
  • Consolidated around Deere, CNH, AGCO, Kubota.
  • Precision agriculture, autonomy, and connectivity rising.
  • Cyclical with farm income and crop prices.

M&A deal context

Moderate deal activity

Who’s acquiring

Agricultural-equipment majorsPrecision-ag & ag-tech acquirersPE-backed dealer/component platforms

What’s driving deals

  • Precision-ag and autonomy technology.
  • Aftermarket and dealer consolidation.
  • Farm-economics cyclicality.

Verticals in this segment

  • 5.6.2.1Combines & Grain Harvesters

    Manufacturers of combine harvesters and grain headers for row crop harvesting.

  • 5.6.2.2Hay, Forage & Specialty Harvest Equipment

    Producers of balers, mowers, rakes, and specialty crop harvesting machines.

  • 5.6.2.3Planters, Seeders & Tillage Equipment

    Producers of planting systems, air seeders, and primary tillage implements.

  • 5.6.2.4Sprayers & Crop Application Equipment

    Manufacturers of self-propelled and trailed sprayers for crop protection.

  • 5.6.2.5Tractors & Utility Vehicles

    OEMs producing row crop, utility, and specialty tractors for farm operations.

Find Agricultural & Farm Equipment acquisition targets

Search Acquisera’s index for companies classified under Agricultural & Farm Equipment (5.6.2) and build a targeted deal pipeline.

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