Agriculture Equipment Market Analysis, Trends, Growth Prospects, Size, Share and Forecast 2023 to 2030

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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