Agriculture Equipment Market Overview:
The Global Agriculture Equipment Market size is projected to register a CAGR of 5.55% and reach a value of USD 3,24,306.18 million by 2030.
Agriculture equipment is the machinery used by farmers at various stages of agriculture such as planting, harvesting and agro-processing. Traditional tools are now replaced by Farm equipment, such as crop processing equipment, drip irrigation equipment and others. The major driver for the growth of agriculture equipment market is the emergence of the concept of contract farming and the increase in agricultural production targets. The rapid increase in population is generating the demand for food and thereby seeking even better agricultural equipment. Though farmers benefit from the use of agricultural equipment, the huge cost involved in the acquisition of such agricultural equipment is restraining the growth of this market.
Key Players
The key players of Agriculture Equipment Market are AGCO Corp. (U.S.), JC Bamford Excavators Limited (U.K.), Deere & Company (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), Iseki & Co., Ltd. (Japan), Daedong Industrial Co., Ltd. (U.S.), Mahindra & Mahindra Limited (India), , Escorts Limited (India) and others.
Market Research Analysis
The farm tractor is dominating the farming equipment as it can perform many functions on agricultural land and are the most versatile equipment and leaders farm equipment used in farming. When tractor technologies are combined with GPS systems, they function as highly efficient and productive equipment which assist in performing major agricultural tasks. With the major concern of water conservation, drip irrigation equipment is also expected to grow significantly.
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Asia-Pacific region is expected to dominate the Agriculture equipment market with the highest CAGR. The low rate of mechanization in the agriculture sector in developing nations such as India and China is expected to reveal huge opportunities for adopting mechanized farming practices in the region. This would, in turn lead the agricultural equipment market in the Asia-pacific region. North America and Europe are forecast to witness slow growth, owing to the existence of highly mechanized agricultal practices in the region.
However, the cost of materials for the manufacturers is high which can hamper the growth of the market.
Scope Of Agriculture Equipment Industry Ecosystems
| Revenue Growth Rate (CAGR) by 2030 | 4.34% |
| Market Growth Forecast | 2023 – 2030 |
| Emerging Market Segments | By Types (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Others (Cranes, Excavator, Dozer)), By applications (Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, Others), end-users (Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry and Others) |
| Market Survey Data | Recession Impact, Pricing Analysis, Patent Analysis, Value Chain Analysis, Policy and Regulations, Disruptions And Trends, Supply And Demand Trends, International Competition and others. |
| Market Opportunity & Predictions in | Asia-Pacific |
| Product Mapping by Regions | Rest of America, US, Canada, Mexico, Brazil, Argentina, Germany, UK, Russia, Italy, Rest Of Europe, China, Japan, India, South Korea, Rest Of Asia-Pacific, Saudi Arabia, UAE, Iran, Qatar, Rest Of The Middle East, South Africa, Nigeria, Rest Of Africa, ROW |
Scope of the Report
This study provides an overview of the Agriculture Equipment Market, tracking two market segments across four geographic regions. The report has studies of the key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Agriculture Equipment Market by its product type, function and region.
By Product type
- Tractors
- Harvesters
- Drip irrigation equipment
- Cultivation & soil separation equipment
- Spray
- Land leveler
- Others
By Function
- Harvesting
- Planting & fertilizing
- Haying
- Plowing & cultivation
By Region
- North America
- Asia Pacific
- Europe
- Rest of the World
Continued…
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Some of the Key Evaluation Pointers of Agriculture Equipment Market Report Data 2023:
- Emerging Markets
- Developed Markets
- Market Growth Forecast
- Market Entry Strategies
- Emerging Markets Outlook
- Market Survey Data
- Vendor Share Research
- Vendor Strategies
- Vendor Assessment
- Market Share By Company
- Regional Footprint
- Market Regional Statistics
- Market Share Data
- Market Share By Region
- Market Regional Expansion
- Market Regional Assessment
- Export, Import Data, And Market Share
- Volume/Value, Future Growth Potential
- Long Term (~10 Years) Price Outlook
- Future Business Outlook and many more.
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