Industry Prospective:

The Global Agriculture Equipment Market size was worth around USD 150.2 billion in 2021 and is predicted to grow to around USD 264.7 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030. The report analyzes the global agriculture equipment market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the agriculture equipment market.

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Agriculture Equipment Market: Overview

Agriculture equipment makes farming more efficient and profitable. It also makes farming easier. It raises crop quality and lowers labor costs. The hand sickle, axe, hoe, shovel and spade, and pickaxe are examples of farming implements. To increase the farming device's efficiency, several producers of agricultural equipment are working on integrating a variety of systems, including GPS, Robotic Systems, and Google Earth. New agricultural techniques are also replacing old farming practices like plowing, tilling, and seeding, which will further increase the lucrative demand for the commodity over the coming years. In addition, modern farming equipment such as harvesters, hay and forage equipment, crop irrigation processing devices, and sprayers are used in a variety of farming operations to increase the yield of high-quality crops.

Key Insights

• As per the analysis shared by our research analyst, the global agriculture equipment market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2022-2030).
• In terms of revenue, the global agriculture equipment market size was valued at around USD 150.2 billion in 2021 and is projected to reach USD 264.7 billion, by 2030.
• The growing demand for mechanizing agricultural activities, supportive government programs, and the expanding use of modern agricultural methods are driving the expansion of the agriculture equipment industry.
• Based on the product, the tractor segment held the largest market share in 2021.
• Based on the application, land development seed bed preparation are expected to dominate the market over the forecast period.
• Based on region, the Asia Pacific region is expected to dominate the market during the forecast period.

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Agriculture Equipment Market: Competitive Analysis

The global agriculture equipment market is dominated by players like

• Alamo Group Inc.
• AGCO Corporation
• Argo Tractors S.p.A.
• Bucher
• CNH Industrial N.V.
• Deere Company
• Escorts Limited
• KUBOTA Corporation
• Mahindra Mahindra Ltd
• YANMAR HOLDINGS Co. Ltd.
• CLAAS KGaA mbH
• ZETOR TRACTORS a.s.
• Valmont Industries Inc.
• JCB

The global agriculture equipment market is segmented as follows:

By Product

• Tractors
• Harvesters
• Planting Equipment
• Irrigation Crop Processing Equipment
• Spraying Equipment
• Hay Forage Equipment
• Others

By Application

• Land Development Seed Bed Preparation
• Sowing Planting
• Weed Cultivation
• Plant Protection
• Harvesting Threshing
• Post-harvest Agro-processing

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East Africa
  • GCC
  • South Africa
  • Rest of Middle East Africa

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