Global Agriculture And Farm Equipment/Machinery Market Analysis 2024: Size Forecast and Growth Prospects

The agriculture and farm equipment/machinery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Agriculture And Farm Equipment/Machinery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The agriculture and farm equipment/machinery market size has grown strongly in recent years. It will grow from <b>$174.12 billion in 2023 to $184.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. </b> The growth in the historic period can be attributed to education and research, infrastructure development, industrialization of agriculture, advancements in crop science, rural labor scarcity.

The agriculture and farm equipment/machinery market size is expected to see strong growth in the next few years. It will grow to <b>$233.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. </b> The growth in the forecast period can be attributed to rising global food demand, mechanization and automation, smart farming solutions, sustainable agriculture initiatives, precision agriculture adoption. Major trends in the forecast period include collaboration and integration, labor scarcity and efficiency, customization and adaptability, climate change adaptation, adoption of iot sensors.

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Scope Of Agriculture And Farm Equipment/Machinery Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Agriculture And Farm Equipment/Machinery Market Overview

Market Drivers –

A rapidly growing population is driving the growth of the agriculture and farm equipment/machinery market going forward. Population growth refers to the increase in the number of people at a particular place during a given period. The mechanization of farms increases their productivity. The rising population will cause an increase in the demand for food, therefore to meet this increased food demand and feed the growing population increasing the mechanization of agriculture will become crucial thereby driving the agriculture and farm equipment/machinery market. For instance, according to The United Nations a US-based intergovernmental organization, the global population is expected to increase by 2 billion persons in the next 30 years, i.e.,9.7 billion in 2050. Therefore, the rapidly growing population is expected to propel the agriculture and farm equipment/machinery market.

Market Trends –

Technological advancement is a key trend gaining popularity in the agriculture and farm equipment/machinery market. Major players operating in the market are developing advanced technologies such as the launch of the Unnati drone spray service for farmers that utilize drone technology and artificial intelligence (AI) for agriculture. For instance, in May 2022, Unnati, an India-based fintech-driven agriculture ecosystem platform launched a drone spray service for farmers. The unique feature of the service involves the use of a fleet of drones. The drones can spray water, insecticides, and fertilizers for one acre of land in under eight minutes, saving up to 95% of water. They are equipped with a high-precision spray and capabilities such as “”Return to Launch”” and geofencing. The drones will make the most of AI to optimize spray system utilization in a safe manner that keeps chemicals out of farmers’ cardiovascular systems.

The agriculture and farm equipment/machinery market covered in this report is segmented –

1) By Product Type: Tractors, Rotavators, Threshers And Dehuskers, Power Tillers, Power Weeder, Plough, Baler, Seed Drill
2) By Ownership: Individual, Rental
3) By Application: Land Development And Seed Bed Preparation, Sowing And Planting, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro-Processing

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Regional Insights –

Asia-Pacific was the largest region in the agriculture and farm equipment/machinery market share in 2023. The regions covered in the agriculture and farm equipment/machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the agriculture and farm equipment/machinery market report are Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited, Kubota Corporation, CNH Industrial N.V., Escorts Kubota Limited, AGROSTROJ Pelhrimov a.s., China National Machinery Industry Corporation, J.C. Bamford Excavators Limited, SDF Group, Agromaster, Iseki & Co. Ltd., Exel Industries, CLAAS Group, Bucher Industries AG, Yanmar Co.Ltd., Kverneland Group, The Kuhn Group, Farmtrac Tractors Europe sp. z o.o., JOST Werke AG, Pöttinger Landtechnik GmbH, SAME DEUTZ-FAHR Italia S.p.A., McCormick Tractors International Limited, Tractors and Farm Equipment Limited, New Holland Agriculture, Case IH, Massey Ferguson Limited, Valtra, GRIMME Landmaschinenfabrik GmbH & Co. KG, Lemkem

Table of Contents
1. Executive Summary
2. Agriculture And Farm Equipment/Machinery Market characterstics
3. Agriculture And Farm Equipment/Machinery Market Trends And Strategies
4. Agriculture And Farm Equipment/Machinery Market – Macro Economic Scenario
5. Global Agriculture And Farm Equipment/Machinery Market Size And Growth
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31. Global Agriculture And Farm Equipment/Machinery Market Competitive Benchmarking
32. Global Agriculture And Farm Equipment/Machinery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Agriculture And Farm Equipment/Machinery Market
34. Agriculture And Farm Equipment/Machinery Market Future Outlook and Potential Analysis
35. Appendix

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