The total volume of agricultural machinery production this year is expected to reach $110 billion with expected growth of 5% next year. Global tractor sales in October were 10% higher than in October the year before. Global demand for agricultural equipment is expected to increase 6.7% per year through 2016 reaching $173.5 billion in volume driven mostly by demand in China, Brazil and India followed by Thailand, Indonesia and Argentina. The fastest growing sectors in the machinery market are expected to be plowing and cultivating machinery with an expansion rate of 9.1%. Analysts predict that by 2016 China will overtake the U.S. with $23.1 billion in machinery shipments by that time. The U.S., Canada, Brazil, Germany, France and Russia have all seen growth in the sector. In November John Deere issued a quarterly report stating that its global sales have increased 14% for the quarter and increased 13% overall for the year.