At the recent China International Agricultural Machinery Exhibition (hereinafter referred to as "China International Agricultural Machinery Exhibition") held in Changsha International Convention and Exhibition Center, the event made a grand entrance, setting records for the number of exhibitors, visitors, and exhibition area since its inception. The booming domestic industry is directly related to export performance. In 2023, China's export scale of industrial finished products exceeded 3 trillion US dollars, undoubtedly occupying an important position in the global supply chain.
Amid the pursuit of overseas demand, the track for Chinese industrial product enterprises to go global through cross-border e-commerce is also rapidly widening. At this agricultural machinery exhibition, the eBay team also arrived on site to share new business opportunities for agricultural machinery to go global with sellers and on-site audiences.
The US Market Demand Grows Rapidly
Agricultural Machinery and Accessories Become High-Potential Categories on eBay Platform
The world is vast, but where is the agricultural machinery market opportunity most worth exploring? The answer from eBay's Industrial and Commercial Category Team is: the United States!
The United States is the most important agricultural machinery market globally, with a huge scale and rapid growth. The US agricultural machinery market size is expected to approach 40 billion US dollars by the end of 2024 and will continue to expand at a compound annual growth rate (CAGR) of 6.3% over the next five years, reaching a market size of 53.7 billion US dollars by the end of 2029.
Labor shortages, government subsidies, and technological innovation have jointly promoted the growth of demand for agricultural machinery in the United States. Currently, the mechanization rate of agriculture in the United States is close to 100%. The use of machinery can improve production efficiency, thus compensating for labor shortages. There are about 1.89 million farms in the United States, 98% of which are small and medium-sized family farms. The government has substantial subsidies for agricultural production, reducing the cost for farmers to purchase agricultural machinery, enabling small and medium-sized family farms to invest in agricultural machinery. Innovations in intelligence and automation have driven the renewal and replacement of agricultural machinery equipment, covering the entire process of mechanization from land tillage , leveling, sowing, field management, harvesting, and drying. These driving factors are long-term, ensuring the long-term growth trend of demand for agricultural machinery in the United States. Henan Lukewei Road Machinery Manufacturing Co., Ltd. has also developed and researched a variety of agricultural machinery products, such as irrigation machinery, seeders, mini excavators, sprayers, and lawn mowers, etc. Salespersons Yanyan and Yali also visited the agricultural machinery exhibition site to inspect excellent products from other companies.
