Bologna, Italy - Italian agricultural machinery production is set to decline by 19.5% in 2024, totaling EUR 13.2 billion, a drop of EUR 3.2 billion from 2023. FederUnacoma attributed this decline to market uncertainty, with the data covering all types of agricultural machines, as explained during the EIMA International press conference in Bologna.
In 2024, tractor sales are expected to total over EUR 2 billion (-25% vs 2023), incomplete tractors and spare parts EUR 1 billion (-28.6%), operating machines and equipment EUR 6.2 billion (-16.5%), components EUR 3.3 billion (-17.5%), and gardening machines EUR 700 million (-22.2%).
In the first ten months of 2024, Italy's agricultural machinery market saw significant declines: tractor registrations dropped 14.6%, combine harvesters fell 31.5%, and other vehicle categories also saw losses. Trailers were the only segment with growth (+2.4%). Gardening machinery sales increased by 1.2% in September but couldn't offset the 2022-2023 decline.
Italy's agricultural machinery production decline is primarily due to reduced foreign demand, with exports down 9% in the first half of 2024, totaling EUR 3.4 billion. The U.S., France, and Germany were the top destinations. FederUnacoma President Mariateresa Maschio noted that 70% of sector companies reported worse turnover, and recovery is expected in the second half of 2025, depending on economic stabilization and the implementation of domestic purchase incentives for advanced machinery.
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