6 World’s Largest Agricultural Tractor Companies

6 World’s Largest Agricultural Tractor Companies

6 World’s Largest Agricultural Tractor Companies- As we all know, heavy equipment and agricultural tractors are important equipment that supports agricultural cultivation. Its existence is able to encourage farming activities to become more effective and efficient so that the economic income obtained is more optimal. With advanced equipment, the process of cultivating plants and animals can be carried out on a large scale but at lower costs.  During this time, many large companies have created tractors and sophisticated agricultural equipment to make it easier for farmers to carry out their cultivation activities. Here are the 6 Largest Agricultural Tractor Companies in the World in 2023. Maybe all of us know these companies.

1. Deere and Company

Deere and company or commonly known as John Deere is an agricultural tractor and heavy equipment company which has its head office in Moline, Illinois, United States with a total employee around 82 thousand worldwide. Based on its history, this company was founded in 1837 by John Deere who was a blacksmith.

John Deere Brand

Until now, John Deere is one of the largest giant tractor companies that has a wide market share in the heavy equipment and agricultural industries. Some of its heavy equipment focuses on the agricultural, livestock and forestry sectors. Some of John Deere’s tractors include land cultivation tractors, planting tractors, harvesting or combine tractors, as well as several logging tractors.

John Financial Conditions and Bussiness performance in 2023

Apart from the John Deere brand, Deere and Company also has several heavy equipment brands such as Wirtgen group, Mazzoti, PLA, Monosem, Hagie, Wirtgen and other agribusiness companies as well as battery companies Kreiser (battery companies). Financially, in 2023, according to annual report, John Deere’s total assets reached USD 40.5 billion with revenues reaching USD 55.5 billion. In addition, the achieved net income by John Deere reached USD 10.1 billion.

2. Massey Ferguson

Founded in 1847 and 3 figures who contributed to the company’s development, namely Daniel Massey, Alanson Harris, and Harry Ferguson. Daniel Massey initiated the formation of tractors and heavy agricultural equipment called “The Newcastle Foundry and Machine Manufactory” which was the forerunner of Massey Ferguson. After experiencing several business steps, namely carrying out several mergers. In 1958, the company name changed to Massey Ferguson.

Massey Ferguson and Its Founder

Until now, Massey Ferguson is part of the global agricultural company, namely AGCO Corporation, which is headquartered in Duluth, Georgia, United States. Some of the tractors produced are planting tractors, land processing tractors and harvesting tractors. Until now, Massey Ferguson is still part of the global agricultural company, namely AGCO Corporation, which is headquartered in Duluth, Georgia, United States. Based on data from the AGCO Annual Report, Massey Ferguson tractor sales in 2023 reached USD 8.7 billion.

3. New Holland

New Holland Tractor Products

New Holland is a heavy equipment and agricultural tractor company that was founded in 1895 in New Holland, Pennsylvania, United States. Until now, New Holland’s ownership is still controlled by CNH industrial, which is also a heavy equipment company headquartered in Amsterdam, Netherlands. Apart from New Holland, CNH also has several heavy equipment brands such as Case, Styer, and several other brands. Financially, in 2023, this company’s business revenue (CNH) reached USD 18.1 billion. Meanwhile, the net income reached USD 2.7 billion.

4. Kubota

Kubota tractor Products

Kubota Corporation is a tractor and heavy agricultural equipment company that was founded in February 1890. Based on its history, Kubota was founded by Gonshiro Kubota and currently still has its head office in Osaka, Japan. As time goes by and the company’s business advances, Kubota can produce 5.4 million tractors by 2023 and have been sold its products in more than 120 countries around the world. Financially, in 2023, Kubota generate revenues of up to JPY 3 trillion. In addition, the net income reached JPY 238 billion.

5. Yanmar

Yanmar Products

Yanmar is a tractor company from Japan that was founded in March 1912. The founder of this company was Magokichi Yamaoka. Until now, Yanmar’s head office is in Osaka, Japan. Apart from producing several heavy equipment products in the agricultural sector, Yanmar also produces several machines for several industries. Financially, in 2023, based on the Annual Report, Yanmar managed to record revenue of JPY 1,022 billion with a net income achieved of JPY 43 billion.

6. Mahindra Tractor

Mahindra Tractor Products

Mahindra Tractor is an agricultural tractor product from Mahindra & Mahindra, one of the largest Indian automotive manufacturing corporations headquartered in Mumbai. Historically, Mahindra & Mahindra was founded on October 2, 1945. Operationally, this company has its head office in Mumbai, Maharashtra, India. In strenghthening and developing its business of tractors, Mahindra & Mahindra purchased Gujarat Tractors from the Government of Gujarat in 1999 and Punjab Tractor Limited (PTL) in 2007.

References of 6 World’s Largest Agricultural Tractor Companies

John Deere. 2024. Annual Report 2023. https://investor.deere.com/sec-filings/default.aspx

AGCO. 2024. Annual Report 2023. https://investors.agcocorp.com/financial-information/annual-reports

CNH. 2024. Annual Report 2023. https://www.cnh.com/en-US/Investor-Relations/financial_information/annual_reports

Kubota. 2024. Annual Report 2023. https://www.kubota.com/ir/indicators/index.html Yanmar. 2024. Annual Report 2023. https://www.yanmar.com/en_id/about/finance/

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