Agriculture And Farm Machinery Market, By Product (Tractors, Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Others), By Use Case (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation and Plant Protection), By Region Global Analysis Forecast Till 2030

The global Agriculture And Farm Machinery Market was valued at USD 194 billion in 2021. It is expected to reach around USD 384 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.2% between 2022 and 2030.

Agriculture and farm machinery are tools and machinery used by farmers in agricultural farmlands to increase crop productivity. Harvesting machinery, tractors, cultivators, and other types of machinery are used for various tasks, such as tilling, plowing, disking, and harvesting. These machines differ depending on the kind of farming, i.e., organic vs. non-organic farming. Agriculture machinery has evolved thanks to advanced technologies such as GPS tracking and improved fuel efficiency significantly.

Market Dynamics

Drivers:

Food demand is increasing dramatically around the world. This is due to an increase in the global population and disposable income. Increased food demand has encouraged farmers to adopt modern farming practices to increase crop yields, increasing global demand for agricultural machinery. Countries in the Asia Pacific, such as India and China, are seeing a shift in the population. A growing population is driving up food demand in the Asia Pacific, which will drive up the agricultural and farm machinery market in this region. As a result of these factors, the global agriculture and farm machinery market is expected to grow during the forecast period.

Restraints:

Farming and agricultural machinery are prohibitively expensive. Cultivators, tractors, harvesters, crop sprayers, and trailers require significant capital investment. Due to low purchasing power, not all farmers, particularly those from emerging economies such as India, Brazil, Indonesia, and South Africa, can afford such heavy equipment. As a result, demand for these machines is low in emerging markets such as Latin America and the Middle East. As a result, these factors are expected to limit agriculture and farm machinery market growth during the forecast period.

Key players:

• AGCO Corporation

• FlieglAgro-Center GmbH

• Agromaster

• Amazone Inc.

• APV GmbH

• Bellota Agrisolutions

• CLAAS KGaAmbH

• CNH Industrial N.V.

• Deere & Company

• Escorts Limited

• HORSCH Maschinen GmbH

• ISEKI & Co., Ltd.

• J C Bamford Excavators Ltd

• Quivogne CEE GmbH (Kiwon RUS LLC)

• Rostselmash

• KRUKOWIAK

Market Segmentation:

The agriculture and farm machinery market has been segmented based on Product, application, and region in the report.

Agriculture And Farm Machinery Market, By Product

• Tractors

• Harvesters

• Planting Equipment

• Irrigation & Crop Processing Equipment

• Others

Agriculture And Farm Machinery Market, By Application

• Land Development & Seed Bed Preparation

• Sowing & Planting

• Weed Cultivation

• Plant Protection

Agriculture And Farm Machinery Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis:

The Asia Pacific region will be at the forefront. Due to the region's strong economic growth in recent years, demand for this equipment will rise during the forecast period. Taiwan, India, and China have experienced significant growth. In the coming years, India will be a nation providing the most opportunities for this market's growth. The demand for agricultural tractors has increased dramatically in India which is expected to increase further during the forecast period. As farmers in this region look for ways to improve their productivity, the demand for these machines will rise.

Significant growth will also be recorded in the North American region in the coming years, owing primarily to the increased use of this market available equipment that provides better fuel efficiency than equipment introduced in other parts of the world. Integration of GPS and robotic systems in these tractors or equipment used to perform various functions in the agricultural sector will drive agriculture and farm machinery market growth in the coming years.

Scope of the Report:

User

Tab Content