According to the Italian Farm Machinery Manufacturers Association, UNACOMA, total sales of Italian farm machinery, including components, increased approximately 1.5% in 2006, for a value of 7.2 billion €.
To a great extend this growth in sales can be attributed to increased demand for farm machinery in world markets, particularly since the domestic market has experienced relatively flat growth. For the current year and 2008, Italian production should benefit from continued growth in the demand of farm machinery worldwide.
Italian exports of farm machinery account for about 58% of total production. In 2006 they experienced an increase of 2.6% over the prior year, totaling more than 3.9 billion € in value. This growth has been fueled primarily by strong demand for farm equipment in Europe, Asia, and in the Americas. During the same period, exports of Italian farm machinery to the U.S. have been slowed by general weakness in the U.S. dollar as well as drought conditions that have affected farming in some areas of the country. This trend is expected to continue in the near future, as the U.S. economy will be growing at a slower pace.
Italian farm equipment manufacturers are looking to foreign markets to grow their businesses, especially to opportunities within Europe and North America. Italian companies provide American Original Equipment Manufacturers (OEMs) with high quality, cost-efficient partners for supplying parts and assembly systems. The United States are the most important market for Italian farm machinery outside of Europe. Last year, U.S. imports of Italian farm machinery (including component parts) totaled approximately $520 million. Italy is the 4th largest foreign supplier and during the first ten months of 2007, exported $304 million worth of farm machinery and components to the United States. In terms of sales, Italy is the largest producer of farm machinery in world next to the United States.
For distributors looking to carry new equipment lines, Italian manufacturers offer highly competitive, quality farm equipment with proven performance in the world market.
According to the Italian Farm Machinery Manufacturers Association, UNACOMA, total sales of Italian farm machinery, including components, increased approximately 1.5% in 2006, for a value of 7.2 billion €.