While there are likely to be some challenges ahead, a recent global survey says the overall market for 2014 should remain strong.
The Agriveolution Alliance, a coalition of agricultural equipment manufacturing organizations, recently released its biannual survey.
Here are some highlights:
- While only 18 percent of the survey respondents said they were not satisfied with the current business situation, less than 50 percent expect further growth in the next six months.
- In North America, the industry business climate remained positive, based on high sales in the first months of 2014. A majority of business owners and managers see more growth of their revenues in the months ahead, despite the fact that sales figures in the U.S. market declined recently.
- In South America, manufacturers are relying on the good economic basis of their customers and expect a further expansion of their investment in equipment in order to cultivate additional areas.
“In general, the perspectives on the agricultural machinery markets remain positive on a global level. The alliance’s economic committee expects a slight decline of the global market, but only to a minor extent, based on a further strong demand in the emerging markets and on above-average agricultural commodity prices,” the survey says.