At what pace is the agriculture, construction, and mining machinery market growing, and what is its estimated value?
The agriculture, construction, and mining machinery market size has grown strongly in recent years. It will grow from $778.53 billion in 2024 to $841.46 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to global population growth, rise in mechanized agriculture, urbanization, mining exploration and extraction, environmental regulations, globalization and trade.
The agriculture, construction, and mining machinery market size is expected to see strong growth in the next few years. It will grow to $1106.29 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to advancements in autonomous machinery, infrastructure development projects, circular economy practices, energy-efficient construction practices, focus on safety standards. Major trends in the forecast period include emission control technologies, human-machine collaboration, customization for specific industries, electric and hybrid solutions, mining automation and robotics.
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Which Market drivers have played a significant role in driving the agriculture, construction, and mining machinery market?
The agriculture, construction, and mining machinery manufacturing market growth are aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. Recovering commodity prices, after a significant decline in the historic period, is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
What are the key segments within the agriculture, construction, and mining machinery market?
The agriculture, construction, and mining machinery market covered in this report is segmented –
1) By Type: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery
2) By Operation: Autonomous, Semi-Autonomous, Manual
3) By Capacity: Small, Medium, Large
Subsegments:
1) By Construction Machinery: Excavators, Bulldozers, Cranes, Concrete Mixers, Loaders
2) By Agricultural Implement: Tractors, Harvesters, Plows and Tillage Equipment, Seeders and Planters, Irrigation Equipment
3) By Mining And Oil And Gas Field Machinery: Drilling Rigs, Excavation Equipment, Hauling Equipment, Mineral Processing Machinery, Oilfield Equipment
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Which key players are shaping the agriculture, construction, and mining machinery market?
Major companies operating in the agriculture, construction, and mining machinery market include Caterpillar Inc., Deere & Company, Zoomlion Heavy Industry Science and Technology Co. Ltd., Volvo AB, Komatsu Ltd., Case New Holland, CNH Industrial NV, Kubota Corp., Mahindra & Mahindra Limited, Liebherr Group, Atlas Copco AB, AGCO Corporation, Massey Ferguson Limited, Alamo Group Incorporated, Sany Group, Astec Industries Inc., Berco S.p.A., Poclain S.A., Bennington Company, Bomag GmbH, Seppi, SampoRlei SpA
Which transformative trends will shape the agriculture, construction, and mining machinery market landscape?
Agriculture equipment companies are offering telematics systems to farmers to enable wireless transfer of data between the equipment and its users. Telematics refers to the technology of collecting data from farm equipment operating in a field and then transferring the data to customers through the Internet on a real-time basis. This enables farmers to remotely collect and manage information from their field equipment, enhance operational efficiencies and reduce production costs. For instance, in April 2023, Bobcat, a US-based manufacturer of farm and construction equipment, launched the Machine IQ telematics system, connecting customers to their machine information at any time and from any device. The system allows customers to check the health of their machines and remotely track information to enhance maintenance, security and performance from their smart devices or laptops.
How do regional factors impact the agriculture, construction, and mining machinery market, and which region is the largest contributor?
The countries covered in the agriculture, construction, and mining machinery market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Agriculture, Construction, And Mining Machinery Market Report 2025 Offer?
The agriculture, construction, and mining machinery market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Agriculture, Construction, and Mining Machinery refers to the specialized equipment used in various industries for tasks such as planting, harvesting, building, and extracting resources. It is used to enhance productivity, improve efficiency, and ensure safety in operations. This machinery plays a critical role in supporting the agricultural, construction, and mining sectors, driving economic growth and development.
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