Global demand for agricultural equipment will grow 4.8 percent annually through 2010. Strongest gains will occur in developing countries (e.g., China, India, Brazil, Russia) as farmers further automate and replace older equipment and draft animals. Demand in industrialized regions will be replacement in nature.

This study analyzes the $70.2 billion world agricultural equipment industry. It presents historical demand data and forecasts to 2010 and 2015 by product (e.g., farm tractors, harvesting machinery, planting and fertilizing machinery, haying machinery, plowing and cultivating machinery); by world region and for 26 countries.

The study also considers market environment indicators, evaluates company market share and profiles 19 major players including Deere & Company, CNH Global, AGCO, Kubota, Yanmar, CLAAS, Iseki, Same Deutz-Fahr, and Caterpillar.

                           TABLE OF CONTENTS
                                    
  
  SECTION                                                          PAGE
  
         INTRODUCTION                                                ix
  
   I.    EXECUTIVE SUMMARY                                            1
  
  II.    ECONOMIC & MARKET ENVIRONMENT                                4
         General                                                      4
         World Economic Outlook                                       5
         World Demographic Outlook                                    9
           Total Population                                          10
           Nonurban Population                                       11
         World Agricultural Outlook                                  13
         Relationship between Agricultural Output & Agricultural
           Equipment Demand                                          14
         Agricultural Equipment Pricing Patterns                     17
         Agricultural Equipment Technology                           17
  
 III.    SUPPLY & DEMAND                                             19
         General                                                     19
         World Agricultural Equipment Markets                        20
         World Agricultural Equipment Supply Dynamics                22
           Producing Countries                                       22
           Products                                                  25
              Farm Tractors                                          26
              Harvesting Machinery                                   27
              Planting & Fertilizing Machinery                       28
              Haying Machinery                                       29
              Plowing & Cultivating Machinery                        29
              Other Agricultural Equipment                           30
              Parts & Attachments                                    30
         International Trade Flows                                   31
  
  IV.    NORTH AMERICA                                               33
         General                                                     33
         United States                                               36
         Canada                                                      41
         Mexico                                                      44
  
  V.     WESTERN EUROPE                                              48
         General                                                     48
         Austria                                                     52
         Belgium                                                     55
         Denmark                                                     58
         France                                                      60
         Germany                                                     64
         Italy                                                       68
         The Netherlands                                             71
         Spain                                                       74
         Sweden                                                      77
         Switzerland                                                 80
         United Kingdom                                              83
         Other Western Europe                                        86
  
  VI.    ASIA/PACIFIC                                                89
         General                                                     89
         Australia                                                   93
         China                                                       96
         India                                                      102
         Japan                                                      106
         South Korea                                                109
         Taiwan                                                     112
         Other Asia/Pacific                                         115
  
 VII.    OTHER REGIONS                                              120
         General                                                    120
         Latin America                                              122
           Argentina                                                126
           Brazil                                                   129
           Other Latin America                                      133
         Eastern Europe                                             136
           Poland                                                   140
           Russia                                                   144
           Other Eastern Europe                                     147
         Africa/Mideast                                             150
           South Africa                                             154
           Turkey                                                   157
           Other Africa/Mideast                                     161
  
VIII.    INDUSTRY STRUCTURE                                         165
         General                                                    165
         Industry Composition & Market Share                        166
         Product Development & Manufacturing                        169
         Marketing & Distribution                                   170
         Financial Requirements                                     178
         Mergers, Acquisitions & Industry Restructuring             180
         Company Profiles                                           182
           AGCO Corporation                                         183
           Al Ghazi Tractors Limited, see Fiat SpA
           Berthoud Agricole, see Groupe Exel Industries
           Bobard, see Kverneland ASA
           Bucher Industries AG                                     188
           Carraro India Limited, see Escorts Group
           Caruelle Nicolas, see Groupe Exel Industries
           Caterpillar Incorporated                                 192
           CLAAS KGaA mbH                                           196
           CNH Global NV, see Fiat SpA
           Companhia de Implementos Agricolas MTS, see Bucher
              Industries AG
           Consolidated Diesel Company, see Fiat SpA
           Daedong Industrial Company Limited                       201
           Deere & Company                                          203
           Duro Dakovic PSU, see Same Deutz-Fahr SpA
           Escorts Group                                            209
           Farmtrac North America LLC, see Escorts Group
           Farmtrac Tractors Europe Spolka, see Escorts Group
           Fiat SpA                                                 212
           Groupe Exel Industries                                   217
           Harbin New Holland Beidahuang Tractor, see Fiat
           Iseki & Company Limited                                  219
           John Deere Jialian Harvester Company Limited, see
              Deere & Company
           John Deere Tiantuo Company Limited, see Deere & Company
           Kanzaki Kokyukoki Manufacturing Company, see Yanmar
              Company
           Kubota Corporation                                       222
           Kuhn Group SA, see Bucher Industries AG
           Kukje Machinery Company Limited                          225
           Kverneland ASA                                           227
           Mahindra & Mahindra Limited                              232
           Matrot Equipements, see Groupe Exel Industries
           Netafim Limited                                          235
           New Holland HFT Japan Incorporated, see Fiat SpA
           New Holland Trakmak Traktor ve Ziraat Makineleri, see
              Fiat SpA
           Perkins Engine Company, see Caterpillar
           Preciculture, see Groupe Exel Industries
           Production Association Minsk Tractor Works               238
           ReGen Technologies LLC, see Deere & Company
           Renault Agriculture SAS, see CLAAS KGaA mbH
           Same Deutz-Fahr North America, see AGCO and
              Same Deutz-Fahr
           Same Deutz-Fahr SpA                                      239
           Seirei Industry Company, see Yanmar Company
           Shandong Shifeng Yanmar Engine Company, see
              Yanmar Company
           Shanghai New Holland Agricultural Machinery, see Fiat
           Siam Kubota Industry Company, see Kubota
           Sisu Diesel Incorporated, see AGCO Corporation              
           Slevarna Litiny Brno sro, see ZETOR
           Tecnoma Technologies, see Groupe Exel Industries
           Transaxle Manufacturing of America, see Deere and
              Yanmar Company
           Turk Traktor ve Ziraat Makineleri AS, see Fiat SpA
           YAMINDO, see Yanmar Company Limited
           Yanmar Company Limited                                   244
           Zaklady Sprzetu Mechanicznego Ursus sp. zoo              249
           ZETOR as                                                 250
  
    

                           LIST OF TABLES
                                   
    TABLE NUMBER                                                   PAGE
  
  
         SECTION I -- EXECUTIVE SUMMARY
         Summary Table                                                3
  
         SECTION II -- ECONOMIC & MARKET ENVIRONMENT
    1    World Gross Domestic Product by Region                       9
    2    World Population by Region                                  11
    3    World Nonurban Population by Region                         12
    4    World Agricultural Output by Region                         14
  
         SECTION III -- SUPPLY & DEMAND
    1    World Agricultural Equipment Demand by Region               21
    2    World Agricultural Equipment Shipments by Region            24
    3    World Agricultural Equipment Demand by Type                 26
    4    World Agricultural Equipment Net Exports by Region          32
  
         SECTION IV -- NORTH AMERICA
    1    North America -- Agricultural Equipment Supply & Demand     36
    2    United States -- Agricultural Equipment Supply & Demand     41
    3    Canada -- Agricultural Equipment Supply & Demand            44
    4    Mexico -- Agricultural Equipment Supply & Demand            47
  
         SECTION V -- WESTERN EUROPE
    1    Western Europe -- Agricultural Equipment Supply & Demand    52
    2    Austria -- Agricultural Equipment Supply & Demand           55
    3    Belgium -- Agricultural Equipment Supply & Demand           57
    4    Denmark -- Agricultural Equipment Supply & Demand           60
    5    France -- Agricultural Equipment Supply & Demand            64
    6    Germany -- Agricultural Equipment Supply & Demand           68
    7    Italy -- Agricultural Equipment Supply & Demand             71
    8    The Netherlands -- Agricultural Equipment Supply & Demand   74
    9    Spain -- Agricultural Equipment Supply & Demand             77
   10    Sweden -- Agricultural Equipment Supply & Demand            80
   11    Switzerland -- Agricultural Equipment Supply & Demand       83
   12    United Kingdom -- Agricultural Equipment Supply & Demand    86
   13    Other Western Europe -- Agricultural Equipment Supply
           & Demand                                                  88
  
         SECTION VI -- ASIA/PACIFIC
    1    Asia/Pacific -- Agricultural Equipment Supply & Demand      93
    2    Australia -- Agricultural Equipment Supply & Demand         96
    3    China -- Agricultural Equipment Supply & Demand            101
    4    India -- Agricultural Equipment Supply & Demand            105
    5    Japan -- Agricultural Equipment Supply & Demand            109
    6    South Korea -- Agricultural Equipment Supply & Demand      112
    7    Taiwan -- Agricultural Equipment Supply & Demand           115
    8    Other Asia/Pacific -- Agricultural Equipment Supply
           & Demand                                                 119
  
         SECTION VII -- OTHER REGIONS
    1    Other Regions -- Agricultural Equipment Supply & Demand    122
    2    Latin America -- Agricultural Equipment Supply & Demand    126
    3    Argentina -- Agricultural Equipment Supply & Demand        129
    4    Brazil -- Agricultural Equipment Supply & Demand           133
    5    Other Latin America -- Agricultural Equipment Supply
           & Demand                                                 136
    6    Eastern Europe -- Agricultural Equipment Supply & Demand   140
    7    Poland -- Agricultural Equipment Supply & Demand           143
    8    Russia -- Agricultural Equipment Supply & Demand           147
    9    Other Eastern Europe -- Agricultural Equipment Supply
           & Demand                                                 150
   10    Africa/Mideast -- Agricultural Equipment Supply & Demand   154
   11    South Africa -- Agricultural Equipment Supply & Demand     157
   12    Turkey -- Agricultural Equipment Supply & Demand           161
   13    Other Africa/Mideast -- Agricultural Equipment Supply
           & Demand                                                 164
  
         SECTION VIII -- INDUSTRY STRUCTURE
    1    Selected Agricultural Equipment Manufacturers -- Revenue
           Data, 2005                                               168
    2    Selected Cooperative Agreements                            173
    3    Selected Acquisitions & Divestitures                       181
  
   


                           LIST OF CHARTS
                                   
    CHART NUMBER                                                   PAGE
  
  
         SECTION II -- ECONOMIC & MARKET ENVIRONMENT
    1    World Agricultural Equipment/Agricultural Output
           Relationship, 2005                                        16
  
         SECTION III-- SUPPLY & DEMAND
    1    World Agricultural Equipment Demand by Region, 2005         22
    2    World Agricultural Equipment Shipments by Region, 2005      25
  
         SECTION VIII -- INDUSTRY STRUCTURE
    1    World Agricultural Equipment Market Share by Company, 2005 169