What is the Expected Growth of the Global Agriculture and Farm Equipment/Machinery Market?
The agriculture and farm equipment/machinery market has exhibited robust growth in recent years, with the market size forecasted to grow from $183.25 billion in 2024 to $193.84 billion in 2025 at a compound annual growth rate (CAGR) of 5.8%. This surge in growth is linked to factors such as advancements in crop science, rural labor scarcity, infrastructure development and the industrialization of agriculture.
Looking forward, the market size is anticipated to expand significantly, reaching $248.85 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The forecasted growth can be attributed to rising global food demand, the adoption of smart farming solutions and precision agriculture, as well as initiatives for sustainable agriculture. Key trends shaping the future of this market include labor scarcity and efficiency, climate change adaptation, and the adoption of IoT sensors.
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What Factors are Driving the Growth of the Agriculture and Farm Equipment/Machinery Market?
The growth of the global population is a key driver for the agriculture and farm equipment/machinery market. As the population increases, the demand for food rises, placing an emphasis on the crucial role of increased mechanization of agriculture to meet this demand.
How is the Agriculture and Farm Equipment/Machinery Market 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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What are the Major Players in the Agriculture and Farm Equipment/Machinery Market?
Key players in the agriculture and farm equipment/machinery market include 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.
What are the Emerging Trends in the Agriculture and Farm Equipment/Machinery Market?
Technological advancement is an emerging trend in the agriculture and farm equipment/machinery market. Companies in the sector are leveraging advanced technologies like the drone spray service, which uses artificial intelligence for agriculture. For instance, Unnati, a fintech-driven agriculture ecosystem platform, launched a drone spray service for farmers in May 2022. The service uses a fleet of drones to spray water, insecticides, and fertilizers, significantly reducing water usage and introducing improved efficiency in the field.
Which Region Dominates in the Agriculture and Farm Equipment/Machinery Market?
The largest region in the agriculture and farm equipment/machinery market in 2024 was Asia-Pacific. This report also covers additional regions including Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Agriculture And Farm Equipment/Machinery Market Report 2025 Offer?
Agriculture and farm equipment/machinery refers to various mechanized equipment and devices facilitating a range of agriculture-related tasks including plantation, harvesting, seeding, plowing, and spraying pesticides. These tools allow farmers to reduce dependence on labor and thereby increase their yields. The Agriculture And Farm Equipment/Machinery Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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