SIC 5083 Farm and Garden Machinery and Equipment
SIC 5083
This industry is primarily engaged in the wholesale distribution of agricultural machinery and equipment, including devices used to prepare and maintain soil and to plant, protect, irrigate, and harvest crops. The industry also supplies equipment and machinery to dairy and livestock operations.
421820
Farm and Garden Machinery and Equipment Wholesalers
444210
Outdoor Power Equipment Stores
In 2006, according to Dun & Bradstreet, the farm and garden machinery and equipment industry totaled 11,268 establishments with sales totaling nearly $23 billion. Subcategories include lawn and garden machinery, landscaping equipment, agricultural machinery and equipment, and irrigation equipment.
Sales of tractors and combines were up significantly in the mid-1990s, according to the Equipment Manufacturers Institute. The strength of the farm economy, rising net farm income, and a decline in the ratio of debt to assets, contributed to farmers' willingness to buy agricultural equipment. However, depressed grain and livestock prices led to a decrease in North American retail demand for farm equipment at the turn of the century. Industry leaders, including Hans Becherer, chairman and CEO of Deere & Co. expected a reduction of 25 percent or more. Overall, since the early 1970s, the number of U.S. farms has decreased by one-third, from 3 million to 2.1 million.
According to the Outdoor Power Equipment Institute (OPEI), projected growth in the market for consumer lawn and garden products was 3 percent for 2006 with increases in shipments of walk-behind power mowers at 5 percent; increases in riding mowers of nearly 7 percent; and increases in tiller shipments of 3 percent. This market included lawn mowers, turf and grounds equipment, garden tractors and tillers, trimmers and edgers, and show throwers. U.S. exports of lawn and garden equipment are two-thirds the value of imports, according to the U.S. Department of Commerce. The biggest markets for exports were Canada, France, Germany, the United Kingdom and Australia.
Farm and garden machinery represented the largest segment of the industry, with 2,086 establishments, and their combined sales totaled about $2.6 billion. Agricultural machinery and equipment...
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