The Ag Equipment Intelligence 2024 Executive Briefing wrapped up on Friday, Dec. 8 after welcoming attendees from all across the ag industry. Executives from farm equipment dealerships, majorline and shortline manufacturers, associations, agencies and more heard from a wide-ranging group of panelists that shared their successes, pain points and thoughts on how 2024 looks from their vantage point.
The 5th Annual Executive Briefing provided an inside look at the year ahead from all sides of the industry, equipping attendees to strategically plan their business heading into 2024. Based on the types of attendees and the engagement seen over the 2-day event, Associate Editor Ben Thorpe believes the event delivered the right type of content and insight for the ongoing challenges the industry is facing.
"This year's event highlighted some top issues weighing on the industry, including rising dealer inventories, high interest rates and farmer sentiment remaining low. That said, overall sentiment heading into 2024 remains positive," says Thorpe. "The panelists that participated in the Executive Briefing this year shared an abundance of insight that should help those in attendance plan for 2024 and beyond."
The 2-day program featured a mix of on-demand and live sessions exploring expectations for the ag equipment industry heading into 2024, including:
- Equipment Dealer Panel: Executives from North America’s top farm equipment dealerships have a “state of the industry” discussion heading into 2024. You’ll hear their candid thoughts on how 2023 went, what they’re most concerned about for 2024 and what’s got them the most excited.
- Majorline OEM Panel: Executives from 4 "majorline" ag equipment manufacturers share their bird’s eye view of the ag equipment industry. Coming off the back of several positive years, these executives will dig into their current pain points, key concerns for 2024, areas of optimism and the state of their dealer networks.
- Specialized Equipment Panel: Executives from 3 specialized ag equipment manufacturers sit down to talk about the lessons they learned in 2023 and give their thoughts on the future of the ag equipment industry. They’ll dig into how farmers' equipment needs will change over the next 5 years, where they are focusing their dealer development and what they’re watching heading into 2024.
- Farmer Panel: Progressive farmers of various crops and farming practices explain the how’s and why’s of their operations, equipment choices, ongoing challenges and changes they’ve made and intend to make. You’ll also hear about what they want from their manufacturers and dealer partners.
- Supplier Panel: Executives from 2 suppliers to the ag equipment industry sit down to talk about the lessons they learned in 2023 and give their thoughts on the future of the ag equipment industry, including challenges surrounding supply chain and the backlog that has been created as a result. They will also address changing demand in the shipping industry, the most important trends in ag equipment technology, how OEMs' needs might change in the next 3 years and more.
- 2024 Ag Equipment Industry Economic Outlook: Marc Johnson, ag equipment distribution industry expert and Principal from Pinion Global, shares his insights and discusses the current climate for ag commodities and production, price expectations, supply chain for ag equipment, forecasts for 2024 equipment sales and more.
- 2023 Used Equipment Market Review and 2024 Projections:Tractor Zoom's Director of Insights, Andy Campbell, reviews the 2023 used equipment supply and values, alongside data-driven predictions for 2024. Attendees also receive an in-depth analysis of past trends, market dynamics, and what that might mean for used ag equipment in 2024, empowering you with valuable foresight to navigate the evolving industry landscape.
- State of Ag Equipment: A timely presentation from Kim Schmidt, Executive Editor of Ag Equipment Intelligence and Ben Thorpe, Associate Research Editor, dissecting the newest findings (November) of the 2024 Dealer Business Outlook & Trends — Farm Equipment Forecast. This is the only primary research, now in its 19th year, that projects unit sales directly at the machinery dealer level.
All attendees received extended 12-month access to all of the sessions, allowing them to review the information shared as they finalize their plans for 2024, and as the industry encounters changes over the course of the next year. Extended 12-month access is still available to those who were not able to join on Dec. 7-8. To sign-up, click here.
For questions, or to learn more about the Ag Equipment Intelligence 2024 Executive Briefing, please contact Ben Thorpe by email or by phone (262-777-2425).