This report analyzes the worldwide markets for Agricultural Implements and Machinery in Millions of US$ and Units. The specific product segments analyzed are Farm Tractors, Harvesting Machinery, Planting & Fertilizing Machinery, Plowing & Cultivating Machinery, Haying Machinery, and Auxiliary Equipment & Others. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa, and Latin America. Annual forecasts are provided for each region for the period of 2001 through 2015. The report profiles 252 companies including many key and niche players worldwide such as AGCO Corp., Class KgaA MBH, CNH Global NV, Deere & Company, Escorts Ltd., Iseki & Co., Ltd., Kubota Corp., Kuhn Group, Kverneland ASA, Mahindra Group., Same Deutz-Fahr Group, and Tractors and Farm Equipment Ltd. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

AGRICULTURAL IMPLEMENTS AND MACHINERY						MCP-2551
A GLOBAL STRATEGIC BUSINESS REPORT


                                           CONTENTS



  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-2
       Quantitative Techniques & Analytics                              I-3
      Product Definitions and Scope of Study                            I-3
       Focus on Select Products                                         I-4
        Farm Tractors                                                   I-4
        Tillage Implements                                              I-4
        Harvesters                                                      I-4
        Combines                                                        I-4
        Cultivators                                                     I-4
        Spreaders                                                       I-4
        Planters                                                        I-4
        Hay/Forage Tools                                                I-5
        Sprayers                                                        I-5


 II. EXECUTIVE SUMMARY

  1. Market Dynamics                                                    II-1
      Outlook                                                           II-1
      Global Trends                                                     II-1
       Snapshots                                                        II-1
       Emerging Economies Drive Market Expansion                        II-2
        Table 1: Global Market for Agricultural Equipment by
        Region/Country:  2009E (In terms of Revenues)  (includes
        corresponding Graph/Chart)                                      II-2
       Farm Tractors: The Largest Market Segment                        II-3
        Table 2: Global Market for Tractors by Select Countries:
         2005-2015  (In Units) (includes corresponding Graph/Chart)     II-3
        Table 3: Global Market for Combines by Select Countries:
         2005- 2015 (In Units) (includes corresponding Graph/Chart)     II-3
       Agricultural Machinery and Equipment Market Expands Globally     II-4
       Farm Size and Economics Impact Agricultural Machinery Market     II-4
      Market Structure                                                  II-4
       Table 4: Leading Players in the World Market for Agricultural
       Equipment (Recent Past Data for 2003): Percentage Breakdown
       of Value Sales by Company for Deere & Co, CNH Global, AGCO,
       and Others (includes corresponding Graph/Chart)                  II-5
       Industry Consolidation at a Glance                               II-5

  2. Product Overview                                                   II-6
      Agricultural Equipment                                            II-6
       Farm Tractors                                                    II-6
       Garden Tractors                                                  II-6
       Tillage Implements                                               II-6
       Harvesters                                                       II-6
       Combines                                                         II-6
       Cultivators                                                      II-7
       Spreaders                                                        II-7
       Planters                                                         II-7
       Hay/Forage Tools                                                 II-7
       Sprayers                                                         II-7
      Economic Importance                                               II-7
         Cereals                                                        II-7
         Roots & Tubers                                                 II-7
         Pulses                                                         II-8
         Oil Crops                                                      II-8
         Plantation Crops                                               II-8
      Farming Practices                                                 II-8
       Large-Scale, Capital-Intensive Farming                           II-8
       Medium-Scale Farming                                             II-8
       Small-Scale Farming                                              II-8
      A Focus on the Agriculture Industry                               II-8
       Table 5: Global Share of Agriculture Sector in GDP (Nominal
       Terms) by Country/Region: 2008                                   II-9

       Table 6: Europe: Share of Agriculture Sector in GDP (Nominal
       Terms) for Select Countries: 2008  (includes corresponding
       Graph/Chart)                                                     II-9
       Table 7: Asia: Share of Agriculture Sector in GDP (Nominal
        Terms) for Select Countries: 2008 (includes corresponding
         Graph/Chart)                                                   II-10
       Table 8: Latin America: Share of Agriculture Sector in GDP
       (Nominal Terms) for Select Countries: 2008  (includes
       corresponding Graph/Chart)                                       II-10

       Table 9: Middle East: Share of Agriculture Sector in GDP
       (Nominal Terms) for Select Countries: 2008  (includes
       corresponding Graph/Chart)                                       II-10

       Table 10: Africa: Share of Agriculture Sector in GDP (Nominal
       Terms) for Select Countries: 2008  (includes corresponding
       Graph/Chart)                                                     II-11

  3. Product Innovations/Introductions                                  II-12
      Claas Introduces AXOS Tractors                                    II-12
      Case IH to Introduce Steiger and Magnum in the UK and Europe      II-12
      Case IH to Unveil New Models of Irrigation Power Units            II-12
      Case IH to Launch Improved Round Balers                           II-12
      Case IH Introduces WD 3 Series Windrowers                         II-12
      John Deere Launches New Deere Track Machines with AirSuspension   II-13
      John Deere Launches New 6030 and 7030 Series Tractors             II-13
      John Deere Launches 1870 Air Hoe Drills                           II-13
      New Holland Introduces BR7070 CropCutter for Improved Bale
       Handling                                                         II-13
      John Deere Unveils Central Insecticide System                     II-14
      Kuhn Launches EL201-400H Power Tiller                             II-14
      Case IH Introduces the Latest 120-Foot Boom                       II-14
      MF Introduces Combines and Upgraded Balers                        II-14
      Bourgault Releases 6700ST                                         II-15
      John Deere Introduces 7760 Self- Propelled Cotton Picker          II-15
      John Deere Launches 5003 Series Tractor Line                      II-15
      Kubota Introduces New 108hp Tractor                               II-15
      Cemco Unveils Crop Thinning Machine                               II-15
      Frontier Equipment Launches New Range of Hay Implements           II-16
      Mahindra Introduces New 15 Series Tractor Models                  II-16
      New Holland Introduces New TG Series Tractors                     II-16
      New Holland Unveils New TJ Series Tractors                        II-17
      New Holland Introduces New TDD-Series Utility Tractors            II-17
      New Holland Introduces New TT-A Series Tractors                   II-17
      Massey Ferguson Expands Tractor Line                              II-17
      Massey Ferguson Launches 3600 Series Utility Tractors             II-18
      Case IH Introduces New Tractor Series                             II-18
      Kanoo Machinery and Massey Ferguson Unveils MF 5400 Series
       Tractors                                                         II-18
      Case IH Adds More Powerful Tractors to MX Series                  II-18
      Ag-Chem Introduces Super Sprayer Series                           II-18
      AGCO Hesston Launches 5500 Series Advanced Technology Round
       Balers                                                           II-19
      CLAAS Launches New Production Line                                II-19
      Frontier Introduces New Wheel Rakes and Rotary Cutters            II-19
      Frontier Unveils Three-Point Hay Attachments                      II-19
      Mahindra Launches New Tractors                                    II-19
      Vermeer Introduces User-Friendly 5410 Rebel(R) Baler                II-20
      Vermeer Introduces “M' Series Baler                               II-20
      Case IH Unveils New Puma Tractor Series                          II-20
      John Deere Introduces JD 2305 as New Entry Level Model            II-20
      John Deere Introduces New Compact Utility Tractors                II-20
      John Deere Unveils New 3203 Compact Utility Tractor               II-21
      John Deere Launches New Class of Riding Lawn Equipment            II-21
      John Deere Unveils New 4930 Self-Propelled Sprayer                II-21

  4. Recent Industry Activity                                           II-22
      Concern Tractor Plants and AGCO to Form Joint Venture             II-22
      Deere to Expand Tractor Manufacturing Capacity                    II-22
      John Deere to Expand Harvesting Equipment Production Capacity     II-22
      Mahindra and Mahindra to Establish Tractor Manufacturing Plant    II-22
      TAFE to Take Over Industrija Masina Traktora and Industrija
       Motora Rakovica                                                  II-22
      AGCO to Acquire Stake in Italian Harvesting Business              II-23
      Kamaz Takes Over McCormick Tractor Plant in the UK                II-23
      AGCO Takes Over Industria Agricola Fortaleza                      II-23
      Deere & Company Takes Over Ningbo Benye Tractor & Automobile      II-23
      Exel Industries Takes Over Moreau                                 II-23
      Agrotec Takes Over Slovak Strojpol                                II-24
      Ukragrolizing and New Holland to Establish Joint Venture          II-24
      AGCO and YTO Group to Sign an Agreement                           II-24
      China Camc Signs Two New Contracts in Venezuela                   II-24
      SDF Inaugurates New Facility at Dalian                            II-24
      Case IH Undertakes Expansion of Grand Island Facility             II-25
      Aemsco Changes Name to Degelman Industries                        II-25
      Same Deutz-Fahr Inaugurates Dalian Plant                          II-25
      Case IH Expands Capacity at Grand Island Facility                 II-25
      Mahindra and Mahindra to Construct Manufacturing Unit in Ghana    II-26
      Kuiken Acquires Matrix Group                                      II-26
      John Deere to Supply Combine Harvesters to Turkmenistan           II-26
      Echo Acquires Agricultural Products                               II-26
      AGCO Corp. Forms Joint Venture in Russia                          II-26
      Deere & Company Acquires Roberts Irrigation Products              II-27
      McCormick Merges with Landini to Form Argo Tractors               II-27
      GEHL to Divest Agricultural Implement Business Lines              II-27
      Mahindra Completes Acquisition of Tractorul SA Brasov             II-27
      Escorts to Partner with Steyr                                     II-27
      Sibzavod and MTS Tractor to Establish Joint Venture               II-27
      Eicher Motors Sells Tractor Business to TAFE                      II-28

  5. Focus on Select Players                                            II-29
      AGCO Corp (US)                                                    II-29
      Class KgaA MBH (Germany)                                          II-29
      CNH Global NV (Netherlands)                                       II-29
      Deere & Company (John Deere) (US)                                 II-29
      Escorts Ltd (India)                                               II-30
      Iseki & Co Ltd (Japan)                                            II-30
      Kubota Corp (Japan)                                               II-30
      Kuhn Group (France)                                               II-30
      Kverneland ASA (Norway)                                           II-30
      Mahindra Group (India)                                            II-31
      Same Deutz-Fahr Group (France)                                    II-31
      Tractors and Farm Equipment Ltd (India)                           II-31

  6. Global Market Perspective                                          II-32
      Table 11: World Recent Past, Current & Future Analysis for
      Agricultural Implements and Machinery by Geographic Region -
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan)
      Middle East/Africa and Latin America Markets Independently
      Analyzed with Annual Sales Figures in US$ Million for Years
      2001 through 2010 (includes corresponding Graph/Chart)            II-32

      Table 12: World Long-term Projections for Agricultural
      Implements and Machinery by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan) Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for Years 2011
      through 2015 (includes corresponding Graph/Chart)                 II-33

      Table 13: World 10-Year Perspective for Agricultural
      Implements and Machinery by Geographic Region - Percentage
      Breakdown of Dollar Sales for US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan) Middle East/Africa and Latin
      America Markets for Years 2003, 2008 & 2012 (includes
      corresponding Graph/Chart)                                        II-34

      Table 14: World Recent Past, Current & Future Analysis for
      Farm Tractors by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan) Middle East/Africa and
      Latin America Markets Independently Analyzed with Annual Sales
      Figures in US$ Million for Years 2001 through 2010 (includes
      corresponding Graph/Chart)                                        II-35

      Table 15: World Long-term Projections for Farm Tractors  by
      Geographic Region -US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan) Middle East/Africa and  Latin America
      Markets Independently Analyzed with  Annual Sales Figures in
      US$ Million for Years 2011  through 2015 (includes
      corresponding Graph/Chart)                                        II-36

      Table 16: World 10-Year Perspective for Farm Tractors  by
      Geographic Region - Percentage Breakdown of  Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan)
      Middle East/Africa and Latin America Markets for Years 2003,
      2008 & 2012 (includes  corresponding Graph/Chart)                 II-37

      Table 17: World Recent Past, Current & Future Analys6is  for
      Harvesting Machinery by Geographic Region - US,  Canada,
      Japan, Europe, Asia-Pacific (excluding Japan)  Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million  for Years 2001
      through 2010 (includes corresponding Graph/Chart)                 II-38

      Table 18: World Long-term Projections for Harvesting Machinery
      by Geographic Region - US, Canada, Japan,  Europe,
      Asia-Pacific (excluding Japan), Middle East/Africa  and Latin
      America Markets Independently Analyzed with  Annual Sales
      Figures in US$ Million for Years 2011  through 2015 (includes
      corresponding Graph/Chart)                                        II-39

      Table 19: World 10-Year Perspective for Harvesting  Machinery
      by Geographic Region - Percentage Breakdown  of Dollar Sales
      for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan)
      Middle East/Africa and Latin America Markets for Years 2003,
      2008 & 2012 (includes  corresponding Graph/Chart)                 II-40

      Table 20: World Recent Past, Current & Future Analysis for
      Planting & Fertilizing Machinery by Geographic Region -  US,
      Canada, Japan, Europe, Asia-Pacific (excluding Japan) Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for  Years 2001
      through 2010 (includes corresponding  Graph/Chart)                II-41

      Table 21: World Long-term Projections for Planting &
      Fertilizing Machinery by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan), Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for Years 2011
      through 2015 (includes corresponding Graph/Chart)                 II-42

      Table 22: World 10-Year Perspective for Planting & Fertilizing
      Machinery by Geographic Region - Percentage Breakdown of
      Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan) Middle East/Africa and Latin America Markets
      for Years 2003, 2008 & 2012 (includes  corresponding
      Graph/Chart)                                                      II-43

      Table 23: World Recent Past, Current & Future Analysis for
      Plowing & Cultivating Machinery by Geographic Region - US,
      Canada, Japan, Europe, Asia-Pacific (excluding Japan) Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for Years 2001
      through 2010 (includes corresponding Graph/Chart)                 II-44

      Table 24: World Long-term Projections for Plowing &
      Cultivating Machinery by Geographic Region - US,  Canada,
      Japan, Europe, Asia-Pacific (excluding Japan),  Middle
      East/Africa and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for  Years 2011
      through 2015 (includes corresponding  Graph/Chart)                II-45

      Table 25: World 10-Year Perspective for Plowing &  Cultivating
      Machinery by Geographic Region -  Percentage Breakdown of
      Dollar Sales for US,  Canada, Japan, Europe, Asia-Pacific
      (excluding  Japan) Middle East/Africa and Latin America
      Markets for Years 2003, 2008 & 2012 (includes  corresponding
      Graph/Chart)                                                      II-46

      Table 26: World Recent Past, Current & Future Analysis  for
      Haying Machinery by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan) Middle East/Africa and
      Latin America Markets Independently  Analyzed with Annual
      Sales Figures in US$ Million for  Years 2001 through 2010
      (includes corresponding  Graph/Chart)                             II-47

      Table 27: World Long-term Projections for Haying  Machinery by
      Geographic Region - US, Canada, Japan,  Europe, Asia-Pacific
      (excluding Japan), Middle East/ Africa and Latin America
      Markets Independently  Analyzed with Annual Sales Figures in
      US$ Million  for Years 2011 through 2015 (includes
      corresponding Graph/Chart)                                        II-48

      Table 28: World 10-Year Perspective for Haying Machinery  by
      Geographic Region - Percentage Breakdown of Dollar  Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan)
      Middle East/Africa and Latin America Markets for  Years 2003,
      2008 & 2012 (includes corresponding  Graph/Chart)                 II-49

      Table 29: World Recent Past, Current & Future  Analysis for
      Auxiliary Equipment and Others by  Geographic Region - US,
      Canada, Japan, Europe,  Asia-Pacific (excluding Japan) Middle
      East/Africa  and Latin America Markets Independently Analyzed
      with Annual Sales Figures in US$ Million for  Years 2001
      through 2010 (includes corresponding  Graph/Chart)                II-50

      Table 30: World Long-term Projections for Auxiliary Equipment
      and Others by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East/Africa and Latin
      America Markets Independently  Analyzed with Annual Sales
      Figures in US$ Million for  Years 2011 through 2015 (includes
      corresponding  Graph/Chart)                                       II-51

      Table 31: World 10-Year Perspective for Auxiliary  Equipment
      and Others by Geographic Region - Percentage Breakdown of
      Dollar Sales for US, Canada, Japan,  Europe, Asia-Pacific
      (excluding Japan) Middle East/ Africa and Latin America
      Markets for Years 2003,  2008 & 2012 (includes corresponding
      Graph/Chart)                                                      II-52


III. MARKET

  1. The United States                                                  III-1
      A.Market Analysis                                                 III-1
        Outlook                                                         III-1
        Tractors and Combines                                           III-1
         Table 32: US Recent Past, Current & Future Analysis  for
         Tractors & Combines by Product Segment - 2WD Tractors under
         40 HP, 2WD Tractors between 40 -  100 HP, 2WD Tractors over
         100 HP, 4WD Tractors,  and Self-Propelled Combines Markets
         Independently Analyzed with Annual Sales Figures in Units
         for  Years 2001 through 2010 (includes corresponding
         Graph/Chart)                                                   III-1

         Table 33: US Market Projections for Tractors & Combines by
         Product Segment - 2WD Tractors under  40 HP, 2WD Tractors
         between 40 - 100 HP, 2WD Tractors over 100 HP, 4WD
         Tractors, and Self- Propelled Combines Markets
         Independently Analyzed  with Annual Sales Figures in Units
         for the Years  2011 through 2015 (includes corresponding
         Graph/Chart)                                                   III-2

         Table 34: US Historic Review for Tractors & Combines by
         Product Segment - 2WD Tractors under 40 HP, 2WD Tractors
         between 40 - 100 HP, 2WD Tractors over  100 HP, 4WD
         Tractors, and Self-Propelled Combines Markets Independently
         Analyzed with Annual Sales Figures in Units for Years 1991
         through 2000  (includes corresponding Graph/Chart)             III-2
        Market Shares - Recent Past Perspective                         III-3
         Table 35: Leading Players in the North American
         Agricultural Equipment Market: 2002 -Deere & Co, CNH
         Global, Agco, Kubota Corp and Others  (includes
         corresponding Graph/Chart)                                     III-3

         Table 36: Leading Players in the North American 4WD Tractor
         Market - CNH Global, Deere & Co, Agco  and Others: 2001
         (includes corresponding  Graph/Chart)                          III-3

         Table 37: Leading Players in the North American Combines
         Market - CNH Global, Deere & Co, Agco and Others: 2001
         (includes corresponding Graph/Chart)                           III-3
        Major Factors Influencing Farm Equipment Purchases              III-3
         Table 38: Average Farm Size in the US: 1990-2007  (In
         Acres) (includes corresponding Graph/Chart)                    III-4

         Table 39: Number of Farms in the US: 1990-2007  (In
         Thousands) (includes corresponding  Graph/Chart)               III-4
         Table 40: Planted Acreage in the US: 1991-2007 (includes
          corresponding Graph/Chart)                                    III-5
        Product Launches                                                III-5
        Strategic Developments                                          III-7
        Select Players                                                  III-8
      B.Market Analytics                                                III-9
        Table 41: US Recent Past, Current & Future Analysis for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales  Figures in US$ Million for Years
        2001 through 2010 (includes corresponding Graph/Chart)          III-9

        Table 42: US Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures  in US$ Million for Years 2011
        through 2015  (includes corresponding Graph/Chart)              III-9

        Table 43: US 10-Year Perspective for Agricultural Implements
        and Machinery Parts by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-10

  2. Canada                                                             III-11
      A.Market Analysis                                                 III-11
        Outlook                                                         III-11
        Tractors and Combines Market                                    III-11
         Table 44: Canadian Recent Past, Current & Future Analysis
         for Tractors & Combines by Product Segment - 2WD Tractors
         under 40 HP, 2WD Tractors between 40 - 100 HP, 2WD Tractors
         over 100 HP, 4WD Tractors, and Self-Propelled Combines
         Markets Independently Analyzed with Annual Sales Figures in
         Units for Years 2001 through 2010 (includes corresponding
         Graph/Chart)                                                   III-11

         Table 45: Canadian Projections for Tractors &  Combines by
         Product Segment - 2WD Tractors under  40 HP, 2WD Tractors
         between 40 - 100 HP, 2WD Tractors over 100 HP, 4WD
         Tractors, and Self- Propelled Combines Markets
         Independently Analyzed  with Annual Sales Figures in Units
         for the Years  2011 through 2015 (includes corresponding
         Graph/Chart)                                                   III-12

         Table 46: Canadian Historic Review for Tractors & Combines
         by Product Segment - 2WD Tractors under  40 HP, 2WD
         Tractors between 40 - 100 HP, 2WD Tractors over 100 HP, 4WD
         Tractors, and Self- Propelled Combines Markets
         Independently Analyzed  with Annual Sales Figures in Units
         for Years  1991 through 2000 (includes corresponding
         Graph/Chart)                                                   III-12

         Table 47: Average Farm Size in Canada: 1990-2007  (In
         Acres) (includes corresponding Graph/Chart)                    III-13

         Table 48: Number of Farms in Canada: 1990-2007 (In
         Thousands) (includes corresponding Graph/Chart)                III-13
         Table 49: Planted Acreage in Canada: 1991-2007 (million
          acres crop year) (includes corresponding Graph/Chart)         III-14
      B.Market Analytics                                                III-14
        Table 50: Canadian Recent Past, Current & Future Analysis
        for Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting &
        Fertilizing Machinery, Plowing & Cultivating Machinery,
        Haying Machinery and Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2001 through 2010 (includes corresponding
        Graph/Chart)                                                    III-14

        Table 51: Canadian Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures  in US$ Million for Years 2011
        through 2015  (includes corresponding Graph/Chart)              III-15

        Table 52: Canadian 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-16

  3. Japan                                                              III-17
      A.Market Analysis                                                 III-17
        Outlook                                                         III-17
        Recent Past Perspective                                         III-17
         Table 53: Leading Players in the Japanese Market for Wheel
         Tractors (2003): Percentage Breakdown of Value Production
         by Company for Kubota Corp, Yanmar Agricultural Equipment,
         Iseki & Co, Isuzu Motors Ltd, Mitsubishi Agricultural
         Machinery and Others  (includes corresponding Graph/Chart)     III-17

         Table 54: Leading Players in the Japanese Market for Power
         Tillers/Cultivators (2003): Percentage Breakdown of Value
         Production by Company for Honda Motors Co Ltd, Iseki & Co,
         Isuzu Motors Ltd, Kubota Corp, Mitsubishi Agricultural
         Machinery,  Seirei Industry Co Ltd, and Others (includes
         corresponding Graph/Chart)                                     III-17

         Table 55: Leading Players in the Japanese Market for
         Combines (2003): Percentage Breakdown of Value Production
         by Company for Iseki & Co, Kubota Corp, Mitsubishi
         Agricultural Machinery, Seirei Industry Co Ltd, and Others
         (includes corresponding Graph/Chart)                           III-17

         Table 56: Leading Players in the Japanese Market for Rice
         Planting Machines (2003): Percentage Breakdown  of Value
         Production by Company for Kubota Corp,  Iseki & Co,
         Mitsubishi Agricultural Machinery,  Minoru Sangyo, and
         Others (includes  corresponding Graph/Chart)                   III-18

         Table 57: Leading Players in the Japanese Market for Rice
         Huskers (2003): Percentage Breakdown of Value Production by
         Company for Iseki, Satake, and Others (includes
         corresponding Graph/Chart)                                     III-18

         Table 58: Leading Players in the Japanese Market for
         Agricultural Driers (2003): Percentage Breakdown of Value
         Production by Company for Satake, Yamamoto,  and Others
         (includes corresponding Graph/Chart)                           III-18

         Table 59: Leading Players in the Japanese Market  for Rice
         Polishing Machines (2003): Percentage Breakdown of Value
         Production by Company  for Satake, Marumasu Kikai, and
         Others  (includes corresponding Graph/Chart)                   III-19

         Table 60: Leading Players in the Japanese Market for Grain
         Processing Machines (2003): Percentage Breakdown of Value
         Production by Company for Rheon Automatic Machinery,
         Oshikiri Machinery, Satake, and Others (includes
         corresponding Graph/Chart)                                     III-19

         Table 61: Leading Players in the Japanese Market for Flour
         Milling Machines (2003): Percentage Breakdown  of Value
         Production by Company for Meiji-Machine, Tokai Powdex, and
         Others (includes corresponding Graph/Chart)                    III-19
       Product Launch                                                   III-19
       Select Players                                                   III-20
      B.Market Analytics                                                III-21
        Table 62: Japanese Recent Past, Current & Future Analysis
        for Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting &
        Fertilizing Machinery, Plowing & Cultivating Machinery,
        Haying Machinery and Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2001 through 2010 (includes corresponding
        Graph/Chart)                                                    III-21

        Table 63: Japanese Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-22

        Table 64: Japanese 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-23

  4. Europe                                                             III-24
      A.Market Analysis                                                 III-24
        Outlook                                                         III-24
         Tractors and Combines Market                                   III-24
          Table 65: Western Europe Recent Past, Current & Future
          Analysis for Tractors - Annual Sales Figures in Units for
          Years 2001 through 2010 (includes corresponding
          Graph/Chart)                                                  III-24

          Table 66: Western Europe Projections for Tractors and
          Combines - Annual Sales Figures in Units for Years 2011
          through 2015 (includes corresponding Graph/Chart)             III-24

          Table 67: Western Europe Historic Review for Tractors and
          Combines - Annual Sales Figures in Units for Years 1991
          through 2000 (includes corresponding Graph/Chart)             III-25
        Competitive Scenario in the Recent Past                         III-25
         Table 68: Leading Players in the European Market for
         Agricultural Equipment (2003): Percentage Breakdown of
         Volume Sales by Company for Deere & Co, CNH Global, AGCO,
         Kubota Corp, and Others (includes corresponding
         Graph/Chart)                                                   III-25

         Table 69: Leading Players in the European Tractors Market:
         Share of New Holland, John Deere, MF, Case, Fendt, Renault,
         Valtra, Landini and Deutz-Fahr: 2002 (includes
         corresponding Graph/Chart)                                     III-25
      B.Market Analytics                                                III-26
        Table 70: European Recent Past, Current & Future  Analysis
        for Agricultural Implements and Machinery by Geographic
        Region - France, Germany, Italy, UK, Spain, Russia & Rest of
        Europe Markets Independently Analyzed with Annual Sales
        Figures in US$ Million for Years 2001 through 2010 (includes
        corresponding Graph/Chart)                                      III-26

        Table 71: European Long-term Projections for Agricultural
        Implements and Machinery by Geographic Region - France,
        Germany, Italy, UK, Spain, Russia & Rest of Europe Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-27

        Table 72: European 10-Year Perspective for Agricultural
        Implements and Machinery by Geographic Region - Percentage
        Breakdown of Dollar Sales for France, Germany, Italy, UK,
        Spain, Russia & Rest of Europe Markets for Years 2003, 2008 &
        2012 (includes corresponding Graph/Chart)                     	III-28

        Table 73: European Recent Past, Current & Future Analysis
        for Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting &
        Fertilizing Machinery, Plowing & Cultivating Machinery,
        Haying Machinery and Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales  Figures in US$
        Million for Years 2001 through 2010 (includes corresponding
        Graph/Chart)                                                    III-29

        Table 74: European Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-30

        Table 75: European 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-31

  4a. France                                                            III-32
      A.Market Analysis                                                 III-32
        Outlook                                                         III-32
        Tractors Market                                                 III-32
         Table 76: French Recent Past, Current & Future  Analysis
         for Tractors - Annual Sales Figures in Units  for Years
         2001 through 2010 (includes  corresponding Graph/Chart)        III-32

         Table 77: French Market Projections for Tractors - Annual
         Sales Figures in Units for Years 2011 through 2015
         (includes corresponding Graph/Chart)                           III-32

         Table 78: Leading Players in the French Market for Tractors
         (Recent Past Data for 2003) - Percentage Breakdown of
         Volume Sales by Company for  CNH, Deere, AGCO, Renault, and
         Others  (includes corresponding Graph/Chart)                   III-33
        Strategic Development                                           III-33
      B.Market Analytics                                                III-34
        Table 79: French Recent Past, Current & Future Analysis for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery,  Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual  Sales Figures in US$ Million for Years
        2001 through  2010 (includes corresponding Graph/Chart)         III-34

        Table 80: French Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures  in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-35

        Table 81: French 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-36

  4b. Germany                                                           III-37
      A.Market Analysis                                                 III-37
        Outlook                                                         III-37
        Tractors Market                                                 III-37
         Table 82: German Market for Tractors - A Current &Future
         Analysis: Annual Sales for the Years 2001 through 2010 in
         units. (includes corresponding Graph/Chart)                    III-37

         Table 83: German Market Projections for Tractors - Annual
         Sales Figures in Units for Years 2011  through 2015
         (includes corresponding  Graph/Chart)                          III-37

         Table 84: Leading Players in the German Market for Tractors
         (Recent Past Data for 2003): Percentage Breakdown of Volume
         Sales by Company for CNH, Deere, AGCO, and Others (includes
         corresponding Graph/Chart)                                     III-38
      B.Market Analytics                                                III-38
        Table 85: German Recent Past, Current & Future Analysis for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery,  Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2001 through 2010 (includes corresponding Graph/Chart)          III-38

        Table 86: German Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-39

        Table 87: German 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery  and Auxiliary
        Equipment & Other Markets for 2003,  2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-40

  4c. The United Kingdom                                                III-41
      A.Market Analysis                                                 III-41
        Outlook                                                         III-41
        Tractors Market                                                 III-41
         Table 88: UK Recent Past, Current & Future Analysis for
         Tractors - Annual Sales Figures in Units for Years 2001
         through 2010 (includes corresponding Graph/Chart)              III-41

         Table 89: UK Market Projections for Tractors -  Annual
         Sales Figures in Units for Years 2011  through 2015
         (includes corresponding  Graph/Chart)                          III-41

         Table 90: Leading Players in the UK Market for Tractors
         (Recent Past Data for 2003): Percentage Breakdown of Volume
         Sales by Company for CNH, Deere, AGCO,  and Others
         (includes corresponding Graph/Chart)                           III-42
        Strategic Developments                                          III-42
      B.Market Analytics                                                III-43
        Table 91: UK Recent Past, Current & Future Analysis for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales  Figures in US$ Million for Years
        2001 through 2010 (includes corresponding Graph/Chart)          III-43

        Table 92: UK Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures  in US$ Million for Years 2011
        through 2015  (includes corresponding Graph/Chart)              III-44

        Table 93: UK 10-Year Perspective for Agricultural Implements
        and Machinery by Product Segment - Percentage Breakdown of
        Dollar Sales for Farm Tractors, Harvesting Machinery,
        Planting & Fertilizing Machinery, Plowing & Cultivating
        Machinery, Haying Machinery and Auxiliary Equipment & Other
        Markets for 2003, 2008 & 2012 (includes corresponding
        Graph/Chart)                                                    III-45

  4d. Italy                                                             III-46
      A.Market Analysis                                                 III-46
        Outlook                                                         III-46
        Italian Tractors Market                                         III-46
         Table 94: Italian Recent Past, Current & Future Analysis
         for Tractors - Annual Sales Figures in Units for Years 2001
         through 2010 (includes corresponding Graph/Chart)              III-46

         Table 95: Italian Projections for Tractors - Annual  Sales
         Figures in Units for Years 2011 through 2015 (includes
         corresponding Graph/Chart)                                     III-46

         Table 96: Leading Players in the Italian Market for
         Tractors (Recent Past Data for 2003): Percentage Breakdown
         of Volume Sales by Company for CNH, Same-Deutz, Deere,
         AGCO, and Others (includes corresponding Graph/Chart)          III-47
        Strategic Developments                                          III-47
      B.Market Analytics                                                III-48
        Table 97: Italian Recent Past, Current & Future Analysis for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2001 through 2010 (includes corresponding Graph/Chart)          III-48

        Table 98: Italian Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-49

        Table 99: Italian 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-50

  4e. Spain                                                             III-51
      A.Market Analysis                                                 III-51
        Outlook                                                         III-51
        Tractors Market                                                 III-51
         Table 100: Spanish Recent Past, Current & Future Analysis
         for Tractors - Annual Sales Figures in Units for Years 2001
         through 2010 (includes corresponding Graph/Chart)              III-51

         Table 101: Spanish Market Projections for Tractors - Annual
         Sales Figures in Units for Years 2011 through 2015
         (includes corresponding Graph/Chart)                           III-51

         Table 102: Leading Players in the Spanish Market for
         Tractors (Recent Past Data for 2003) - Percentage Breakdown
         of Volume Sales by Company for New Holland, John Deere, MF,
         Case, Valtra, Renault, Landini, Deutz-Fahr and Others
         (includes corresponding Graph/Chart)                           III-52
      B.Market Analytics                                                III-52
        Table 103: Spanish Recent Past, Current & Future Analysis
        for Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting &
        Fertilizing Machinery, Plowing & Cultivating Machinery,
        Haying Machinery and Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales  Figures in US$
        Million for Years 2001 through 2010 (includes corresponding
        Graph/Chart)                                                    III-52

        Table 104: Spanish Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-53

        Table 105: Spanish 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-54

  4f. Russia                                                            III-55
      A.Market Analysis                                                 III-55
        Outlook                                                         III-55
        Strategic Developments                                          III-55
      B.Market Analytics                                                III-56
        Table 106: Russian Recent Past, Current & Future Analysis
        for Agricultural Implements and Machinery by Product
        Segment - Farm Tractors, Harvesting Machinery, Planting &
        Fertilizing Machinery, Plowing & Cultivating Machinery,
        Haying Machinery and Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales  Figures in US$
        Million for Years 2001 through 2010 (includes corresponding
        Graph/Chart)                                                    III-56

        Table 107: Russian Long-term Projections for Agricultural
        Implements and Machinery by Product Segment - Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2011
        through 2015 (includes corresponding Graph/Chart)               III-57

        Table 108: Russian 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment & Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-58

  4g. Rest of Europe                                                    III-59
      A.Market Analysis                                                 III-59
        Outlook                                                         III-59
        Strategic Developments                                          III-59
      B.Market Analytics                                                III-60
        Table 109: Rest of Europe Recent Past, Current & Future
        Analysis for Agricultural Implements and Machinery by
        Product Segment - Farm Tractors, Harvesting Machinery,
        Planting & Fertilizing Machinery, Plowing & Cultivating
        Machinery, Haying Machinery and Auxiliary Equipment & Other
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2001 through 2010 (includes
        corresponding Graph/Chart)                                      III-60

        Table 110: Rest of Europe Long-term Projections for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2011 through 2015 (includes corresponding Graph/Chart)          III-61

        Table 111: Rest of Europe 10-Year Perspective for
        Agricultural Implements and Machinery by Product Segment -
        Percentage Breakdown of Dollar Sales for Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets for 2003, 2008 & 2012
        (includes corresponding Graph/Chart)                            III-62

  5. Asia-Pacific                                                       III-63
      A.Market Analysis                                                 III-63
        Outlook                                                         III-63
        Focus on Select Markets                                         III-63
         China                                                          III-63
          Overview                                                      III-63
           Table 112: Leading Players in the Chinese Market  for
           Agricultural Tractors (25-49 HP) (Recent Past Data for
           2004) - Percentage Breakdown of Volume Sales by Company
           for Shandong Tractor, Yituo (Ningbo) CSI, Yancheng
           Tractor, and Others (includes corresponding Graph/Chart)     III-63

           Table 113: Leading Players in the Chinese Market  for
           Agricultural Tractors (50HP and above) (Recent Past Data
           for 2004) - Percentage Breakdown of Volume Sales by
           Company for First Tractor, Foton, John Deere Tiantuo,
           Shanghai New Holland, Qingjiang Tractor Co, and Others
           (includes corresponding Graph/Chart)                         III-63
         India                                                          III-64
          Tractor Market                                                III-64
           Table 114: Leading Players in the Indian Market for
           Tractors (Recent Past Data for 2003): Percentage
           Breakdown of Volume Sales by Company for M&M, Escorts,
           TAFE, Punjab Tractors, Eicher, and  Others (includes
           corresponding Graph/Chart)                                   III-64

           Table 115: Leading Players in the Indian Market  for
           Tractors (21-30 HP) (Recent Past Data for 2004):
           Percentage Breakdown of Volume Sales by Company  for
           Eicher, Escorts, M&M, TAFE, PTL and  Others (includes
           corresponding Graph/Chart)                                   III-64

           Table 116: Leading Players in the Indian Market  for
           Tractors (31-40 HP) (Recent Past Data for 2004):
           Percentage Breakdown of Volume Sales by Company  for
           Eicher, Escorts, M&M, PTL, TAFE and  Others (includes
           corresponding Graph/Chart)                                   III-65

           Table 117: Leading Players in the Indian Market for
           Tractors (41-50 HP) (Recent Past Data for 2004):
           Percentage Breakdown of Volume Sales by Company  for
           Eicher, HMT, M&M, PTL, TAFE, LT-JD and  Others (includes
           corresponding Graph/Chart)                                   III-65

           Table 118: Leading Players in the Indian Market for
           Tractors (Above 51 HP) (Recent Past Data for 2004):
           Percentage Breakdown of Volume Sales by Company  for HMT,
           M&M, PTL, TAFE, LT-JD, NHI and  Others (includes
           corresponding Graph/Chart)                                   III-65
         Australia                                                      III-66
          Overview                                                      III-66
          Tractors and Combines Market                                  III-66
           Table 119: Australian Recent Past, Current & Future
           Analysis for Tractors and Combines - Annual Sales Figures
           in Units for Years 2001 through 2010 (includes
           corresponding Graph/Chart)                                   III-66

           Table 120: Australian Market Projections for Tractors and
           Combines - Annual Sales Figures in Units for Years 2011
           through 2015 (includes corresponding Graph/Chart)            III-66

           Table 121: Australian Historic Review for Tractors and
           Combines - Annual Sales Figures in Units  for Years 1991
           through 2000 (includes  corresponding Graph/Chart)           III-67
        Strategic Developments                                          III-67
        Select Players                                                  III-68
      B.Market Analytics                                                III-69
        Table 122: Asia-Pacific Recent Past, Current & Future
        Analysis for Agricultural Implements and Machinery  by
        Product Segment - Farm Tractors, Harvesting Machinery,
        Planting & Fertilizing Machinery,  Plowing & Cultivating
        Machinery, Haying Machinery  and Auxiliary Equipment & Other
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million  for Years 2001 through 2010 (includes
        corresponding Graph/Chart)                                      III-69

        Table 123: Asia-Pacific Long-term Projections for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery,  Planting & Fertilizing
        Machinery, Plowing &  Cultivating Machinery, Haying
        Machinery and  Auxiliary Equipment & Other Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million  for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-70

        Table 124: Asia-Pacific 10-Year Perspective for Agricultural
        Implements and Machinery by Product Segment - Percentage
        Breakdown of Dollar Sales  for Farm Tractors, Harvesting
        Machinery, Planting & Fertilizing Machinery, Plowing &
        Cultivating Machinery, Haying Machinery and Auxiliary
        Equipment &  Other Markets for 2003, 2008 & 2012 (includes
        corresponding Graph/Chart)                                      III-71

  6. The Middle East/Africa                                             III-72
      A.Market Analysis                                                 III-72
        Outlook                                                         III-72
        South Africa                                                    III-72
         Table 125: South African Recent Past, Current &  Future
         Analysis for Tractors and Combines -  Annual Sales Figures
         in Units for Years 2001  through 2010 (includes
         corresponding  Graph/Chart)                                    III-72

         Table 126: South African Projections for Tractors  and
         Combines - Annual Sales Figures in Units  for Years 2011
         through 2015 (includes  corresponding Graph/Chart)             III-73

         Table 127: South African Historic Review for Tractors and
         Combines - Annual Sales Figures in Units  for Years 1991
         through 2000 (includes  corresponding Graph/Chart)             III-73
      B.Market Analytics                                                III-74
        Table 128: Middle East/Africa Recent Past, Current & Future
        Analysis for Agricultural Implements and Machinery by
        Product Segment - Farm Tractors, Harvesting Machinery,
        Planting & Fertilizing Machinery, Plowing & Cultivating
        Machinery, Haying Machinery and Auxiliary Equipment & Other
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2001 through 2010 (includes
        corresponding Graph/Chart)                                      III-74

        Table 129: Middle East/Africa Long-term Projections for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery,  Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2011 through 2015 (includes corresponding Graph/Chart)          III-75

        Table 130: Middle East/Africa 10-Year Perspective for
        Agricultural Implements and Machinery by Product Segment -
        Percentage Breakdown of Dollar Sales for Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating  Machinery, Haying Machinery and
        Auxiliary  Equipment & Other Markets for 2003, 2008 & 2012
        (includes corresponding Graph/Chart)                            III-76

  7. Latin America                                                      III-77
      A.Market Analysis                                                 III-77
        Outlook                                                         III-77
        Focus on Select Markets                                         III-77
         Mexico                                                         III-77
          Table 131: Mexican Recent Past, Current & Future Analysis
          for Tractors and Combines - Annual Sales Figures in Units
          for Years 2001 through 2010 (includes corresponding
          Graph/Chart)                                                  III-77

          Table 132: Mexican Projections for Tractors and Combines -
          Annual Sales Figures in Units for Years 2011 through 2015
          (includes corresponding Graph/Chart)                          III-77

          Table 133: Mexican Historic Review for Tractors and
          Combines - Annual Sales Figures in Units for Years 1991
          through 2000 (includes corresponding Graph/Chart)             III-78
         Brazil                                                         III-78
          Overview                                                      III-78
          Tractors and Combines Market                                  III-79
           Table 134: Brazilian Recent Past, Current & Future
           Analysis for Tractors and Combines - Annual Sales Figures
           in Units for Years 2001 through 2010 (includes
           corresponding Graph/Chart)                                   III-79

           Table 135: Brazilian Projections for Tractors and
           Combines - Annual Sales Figures in Units for Years 2011
           through 2015 (includes corresponding Graph/Chart)            III-79

           Table 136: Brazilian Historic Review for  Tractors and
           Combines - Annual Sales Figures  in Units for Years 1991
           through 2000  (includes corresponding Graph/Chart)           III-80

           Table 137: Leading Players in the Brazilian  Market for
           Tractors (Recent Past Data for 2003): Percentage
           Breakdown of Volume Sales by  Company for AGCO, CNH,
           Deere, and Others (includes corresponding Graph/Chart)       III-80

           Table 138: Leading Players in the Brazilian  Market for
           Combines (Recent Past Data for  2003): Percentage
           Breakdown of Volume Sales  by Company for AGCO, CNH, and
           Deere  (includes corresponding Graph/Chart)                  III-80
         Argentina                                                      III-80
          Tractors and Combines Market                                  III-81
           Table 139: Argentinean Recent Past, Current & Future
           Analysis for Tractors and Combines -  Annual Sales
           Figures in Units for Years 2001  through 2010 (includes
           corresponding  Graph/Chart)                                  III-81

           Table 140: Argentinean Projections for Tractors  and
           Combines - Annual Sales Figures in Units  for Years 2011
           through 2015 (includes  corresponding Graph/Chart)           III-81

           Table 141: Argentinean Historic Review for  Tractors and
           Combines - Annual Sales Figures  in Units for Years 1991
           through 2000  (includes corresponding Graph/Chart)           III-82

           Table 142: Leading Players in the Argentinean Tractors
           Market (Recent Past Data for 2003): Percentage Breakdown
           of Volume Sales by  Company for AGCO, John Deere, CNH,
           Pauny,  and Others (includes corresponding  Graph/Chart)     III-82

           Table 143: Leading Players in the Argentinean Harvesting
           Machinery Market (Recent Past Data  for 2003): Percentage
           Breakdown of Volume  Sales by Company for AGCO, John
           Deere,  and Others (includes corresponding  Graph/Chart)     III-82
         Venezuela                                                      III-83
          Argentinean Agricultural Machinery Exports to Venezuela       III-83
        Strategic Developments                                          III-83
      B.Market Analytics                                                III-84
        Table 144: Latin American Recent Past, Current & Future
        Analysis for Agricultural Implements and Machinery by
        Product Segment - Farm Tractors, Harvesting Machinery,
        Planting & Fertilizing Machinery, Plowing & Cultivating
        Machinery, Haying Machinery and Auxiliary Equipment & Other
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2001 through 2010 (includes
        corresponding Graph/Chart)                                      III-84

        Table 145: Latin American Long-term Projections for
        Agricultural Implements and Machinery by Product Segment -
        Farm Tractors, Harvesting Machinery, Planting & Fertilizing
        Machinery, Plowing & Cultivating Machinery, Haying Machinery
        and Auxiliary Equipment & Other Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2011 through 2015 (includes corresponding Graph/Chart)          III-85

        Table 146: Latin American 10-Year Perspective for
        Agricultural Implements and Machinery by Product Segment -
        Percentage Breakdown of Dollar Sales for Farm Tractors,
        Harvesting Machinery, Planting & Fertilizing Machinery,
        Plowing & Cultivating Machinery, Haying Machinery and
        Auxiliary Equipment & Other Markets for 2003, 2008 & 2012
        (includes corresponding Graph/Chart)                            III-86


 IV. COMPETITIVE LANDSCAPE