Tractor registrations in Europe fall to 10-year low

In 2024, only 144,400 agricultural tractors were registered in Europe – 8.1% less than in 2023, and the lowest figure since 2014.

This was reported by the European Agricultural Machinery Manufacturers Association CEMA, citing national registration authorities.

“After a peak in 2021, tractor registrations are down for the third year in a row – by a total of 20%,” CEMA noted.

The reasons for the decline: a decrease in farming profitability, a reduction in state support and bad weather conditions. Agricultural prices have fallen, while fertilizer and fuel costs remain high. In 2023, real incomes of farmers in the EU decreased by 10%, and an even worse result is expected in 2024.

Despite the overall decline, demand for the most powerful tractors (over 185 kW) has increased – in 2024, 20% more of them were registered than in 2023. These machines account for 9% of the market, while last year – only 7%.

The worst dynamics in Italy – minus 12% (the worst result since 1952), in Poland – minus 17%. In the Netherlands and France, a decline of 5-7% was recorded. In contrast, Spain, Portugal and Belgium showed growth due to market stabilization.

Tags: EU, machinery