A Profile of the Farm Machinery Industry: Helping Farmers Feed the World

by Dawn M. Drake
published by Business Expert Press, 2014
Ref BEP1781
 

In 2013, US farm machinery manufacturers generated $35.4 billion in revenue, writes the author of this book, and almost 70% of the machinery sold stayed within the North American market. Farm machinery is part of the mature manufacturing economy of many developed nations and increasingly part of the manufacturing economy of developing countries as well.

The author poses the question, Why does the farm machinery industry matter? And provides the simple answer: because most humans like to eat.

The population is increasing and so is the demand for crops. And as the proportion of the workforce engaged in agriculture continues to decline, writes the author, there is going to be an increasing need to use mechanised agriculture practices – using the equipment built by firms in the farm machinery sector.

In addition, the demand for crops is increasing due to changes in income levels in parts of the world such as China and India. And as the worldwide demand for animal protein increases, so does the need to grow crops used as feedstock.

The 2012 Global Agricultural Productivity Report clearly states that to meet Earth’s food demands in the near future, all regions must increase agricultural productivity through science and information-based technologies. This will, in turn, have an impact on the farm machinery industry as many new technologies cannot be implemented without the use of mechanised agriculture. Without new technology and products produced by the farm machinery industry, writes the author, plus cutting-edge IT, new strains of hybrid seeds, and synthetic fertilizers, herbicides and pesticides, Earth would be at serious risk of not being able to feed itself. 

Purchase individual chapters from the book

About the author

Dawn M. Drake is Assistant Professor of Geography at Missouri Western State University.

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