The market for farm machinery throughout the European continent and beyond has fallen faster and far more than most analysts would have guessed 18 months ago.
European farm equipment manufacturers say they’re seeing an opportunity to establish dealer-distributor networks as well as to expand their product lines in the U.S. in the very near future.
An agreement between GPX International Tire Corp., Malden, Mass., and Sweden’s Trelleborg Wheel Systems will see Galaxy farm, forestry, agri-industrial and OTR tires distributed through much of Europe for the first time.
Ag equipment manufacturers are continuing to keep on eye on the Russian market, which deteriorated for exporters this year after Russian Prime Minister Vladimir Putin imposed loan restrictions and tariffs of as much as 25% on foreign-made farm machinery.
Changing demographics in the country will also play a significant role as increasing numbers of rural population migrate to urban areas, putting pressure on equipment to replace a smaller agricultural labor force.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.