The number of big dealers in North America dropped for the third year in a row in 2025 as consolidation continues to impact the ag equipment industry. After rising to a record high of 214 big dealers (dealers with 5 or more ag locations) in 2022, the industry now has 205 dealers with 5 or more ag equipment locations. Also for the second year in a row, the total number of ag equipment stores owned by big dealers increased to 2,739.

Deere once again has the most big dealers at 79, but that is down once again from the previous year. In 2024, the number of Deere big dealers dropped to 82 from 86 in 2023 and 90 in 2022. The number of AGCO dealers dropped again as well, now at 20 big AGCO dealers vs. 22 in 2024 and 23 in 2023. Case IH and New Holland each saw their big dealers grow. Case IH now has 42 big dealers vs. 41 in 2024 and New Holland jumped up to 30 from 27 in 2024. 

After declining to 29 big dealers last year, Kubota saw an increase in 2025 and now has 36 big dealers. “Other” big dealers, which includes company-owned and shortline-only dealerships, declined from 21 last year to 16 this year, which includes 11 Claas big dealers. 

The growth in Kubota big dealers was somewhat surprising given Kubota’s policy that caps the number of stores any Kubota dealer can own per state, which was announced last May. Kubota’s May 2024 memo explained that dealer store locations would be capped starting at 6 in states with 10 or fewer Kubota locations up to 25 stores per ownership group in states with 51 or more Kubota stores. Nationally, the number of Kubota locations any one ownership group can own is now 50. 

Currently, there are 7 Kubota dealers that operate 10 or more stores. Under this policy, Ewald Kubota could still add 5 more stores, as data from 2024 shows there were 87 Kubota locations in Texas. 

“With limiting by number of by state and just their desire to be perceived as being close to the customer and not having this big dealer feel, which is their brand identity. It is interesting looking at the numbers to see that they are getting scale with certain dealers,” noted George Russell, , founding member of the Machinery Advisors Consortium, who  has been consulting on the Big Dealer Report since 2011.”

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