Agriculture Equipment Market Opportunities and Strategies to 2030

The global agriculture equipment market size was valued at USD 155.65 billion in 2021, and is predicted to be worth around USD 235.04 billion by 2030, registering a CAGR of 5.01% during the forecast period 2022 to 2030.

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Growth Factors

Increasing mechanization in the agriculture sector coupled with the surge in farmers’ income is expected to be a primary factor driving the growth. Favorable climatic conditions for food production and government support with loan waiver schemes for farmers of all income categories are also presumed to favor the market growth. Technologically advanced agricultural robotics, such as autonomous tractors and flying drones to help farmers produce food at low costs to fulfill the growing demand for food, are anticipated to be better prospects for market growth over the forecast period.

Shortage of labor worldwide particularly in Western Europe and the U.S. will play a key role in driving the adoption of agriculture equipment over the forecast period. Furthermore, shortage of labor in the field of agriculture equipment and telematics to monitor tractor performance and improve farm yield is also anticipated to propel the growth of the market. Apart from advancements in the agriculture equipment space and shortage of labor shortage, the growing population to meet the global food requirements will also be a major factor, increasing demand in the long term.

Report Coverage

Report Scope Details
Market Size US$ 235.04 billion by 2030
Growth Rate CAGR of 5.01% From 2022 to 2030
Largest Market North America
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned AGCO Corporation; Fliegl Agro-Center GmbH; Agromaster; Amazone Inc.; APV GmbH; Bellota Agrisolutions; CLAAS KGaA mbH; 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; KUBOTA Corporation; KUHN SAS; LEMKEN GmbH & Co. KG; Mahindra & Mahindra Ltd; Mascar SpA; Maschio Gaspardo S.p.A, MaterMacc S.p.A; Morris Equipment Ltd; SDF S.p.A.; Tractors and Farm Equipment Limited (TAFE); Väderstad AB; Valmont Industries, Inc

By Product Analysis

The tractor segment accounted for the largest revenue share of over 30% in 2021, attributed to the labor shortage and the growing population to meet the global food requirements, which has made tractors a prerequisite for increasing productivity in the agriculture industry.

Asia Pacific and Latin America have also accelerated the growth. The emergence of electric tractors is anticipated to be a significant growth prospect for market participants.

The growth is ascribed to the cost-effectiveness coupled with electric tractors’ eco-friendly and high-efficiency attributes. However, a lack of energy density to cater to large field operations is expected to hamper their adoption over the forecast period.

The harvester segment is anticipated to reach around USD 58.0 billion by 2030, recording a CAGR of over 6.0% over the forecast period. Innovations in harvesting equipment are anticipated to favor the growth of the segment over the next few years.

Smart combine harvesters enable farmers to monitor the grain flow rate and better control harvesting applications. In light of these factors, farmers and contractors are inclined toward smart combine harvesters over conventional harvesters.

By Application Analysis

The land development and seedbed preparation segment accounted for over 20% of the revenue share in 2021 and is expected to expand at a significant CAGR of over 5.0% during the forecast period. The segment is inclusive of tractors, levelers, and agriculture implements.

The demand for agricultural tractors is gaining traction owing to numerous factors such as the increasing need for food propelling the need to mechanize farm work, availability of technologically advanced tractors, and increased urbanization causing a shortage in labor, forcing farmers to adopt machinery. This is anticipated to contribute to the growth of the overall market.

The adoption of tech-driven agriculture machinery such as robotics is also expected to fuel the demand for the farm machinery market in the forthcoming years. Furthermore, the preference for smart agriculture equipment is gradually picking up pace in countries such as India, Australia, and Southeast Asia, which is currently an emerging market.

By Regional Analysis

North America was valued at USD 35.1 billion in 2021 and is expected to register a CAGR of over 5.0% during the forecast period. The growth is primarily driven by the abundance of large farmland, which has led to high demand for farm mechanization.

The Middle East and Africa region was valued at USD 10.1billion in 2021 and is expected to record a CAGR of 2.0% over the forecast period. South Africa, Saudi Arabia, and UAE are notable markets in the region. The arid and semiarid countries in the Middle East with low and variable rainfall are likely to witness increased demand for irrigated and crop processing equipment over 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
  • KUBOTA Corporation
  • KUHN SAS
  • LEMKEN GmbH & Co. KG
  • Mahindra & Mahindra Ltd.
  • MascarSpA
  • MaschioGaspardo S.p.A
  • MaterMacc S.p.A
  • Morris Equipment Ltd
  • SDF S.p.A.
  • Tractors and Farm Equipment Limited (TAFE)
  • Väderstad AB
  • Valmont Industries, Inc

Market Segmentation

  • By Product
    • Tractors
    • Harvesters
    • Planting Equipment
      • Row Crop Planters
      • Air Seeders
      • Grain Drills
      • Others
    • Irrigation & Crop Processing Equipment
    • Spraying Equipment
    • Hay & Forage Equipment
    • Others
  • By Application
    • Land Development & Seed Bed Preparation
    • Sowing & Planting
    • Weed Cultivation
    • Plant Protection
    • Harvesting & Threshing
    • Post-harvest &Agro-processing
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Netherlands
      • Spain
      • Denmark
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Singapore
      • South Korea
      • Taiwan
      • Australia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Middle East & Africa
      • UAE
      • Saudi Arabia
      • South Africa
      • Rest of Middle East & Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Agriculture Equipment Market, By Product

7.1.  Agriculture Equipment Market, by Product, 2021-2030

7.1.1.    Tractors

7.1.1.1.        Market Revenue and Forecast (2019-2030)

7.1.2.    Harvesters

7.1.2.1.        Market Revenue and Forecast (2019-2030)

7.1.3.    Planting Equipment

7.1.3.1.        Market Revenue and Forecast (2019-2030)

7.1.4.    Irrigation & Crop Processing Equipment

7.1.4.1.        Market Revenue and Forecast (2019-2030)

7.1.5.    Spraying Equipment

7.1.5.1.        Market Revenue and Forecast (2019-2030)

7.1.6.    Hay & Forage Equipment

7.1.6.1.        Market Revenue and Forecast (2019-2030)

Chapter 8.  Global Agriculture Equipment Market, By Application

8.1.  Agriculture Equipment Market, by Application, 2021-2030

8.1.1.    Land Development & Seed Bed Preparation

8.1.1.1.        Market Revenue and Forecast (2019-2030)

8.1.2.    Sowing & Planting

8.1.2.1.        Market Revenue and Forecast (2019-2030)

8.1.3.    Weed Cultivation

8.1.3.1.        Market Revenue and Forecast (2019-2030)

8.1.4.    Plant Protection

8.1.4.1.        Market Revenue and Forecast (2019-2030)

8.1.5.    Harvesting & Threshing

8.1.5.1.        Market Revenue and Forecast (2019-2030)

8.1.6.    Post-harvest &Agro-processing

8.1.6.1.        Market Revenue and Forecast (2019-2030)

Chapter 9.  Global Agriculture Equipment Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Product (2019-2030)

9.1.2.    Market Revenue and Forecast, by Application (2019-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Product (2019-2030)

9.1.3.2.        Market Revenue and Forecast, by Application (2019-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Product (2019-2030)

9.1.4.2.        Market Revenue and Forecast, by Application (2019-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Product (2019-2030)

9.2.2.    Market Revenue and Forecast, by Application (2019-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Product (2019-2030)

9.2.3.2.        Market Revenue and Forecast, by Application (2019-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Product (2019-2030)

9.2.4.2.        Market Revenue and Forecast, by Application (2019-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Product (2019-2030)

9.2.5.2.        Market Revenue and Forecast, by Application (2019-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Product (2019-2030)

9.2.6.2.        Market Revenue and Forecast, by Application (2019-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Product (2019-2030)

9.3.2.    Market Revenue and Forecast, by Application (2019-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Product (2019-2030)

9.3.3.2.        Market Revenue and Forecast, by Application (2019-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Product (2019-2030)

9.3.4.2.        Market Revenue and Forecast, by Application (2019-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Product (2019-2030)

9.3.5.2.        Market Revenue and Forecast, by Application (2019-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Product (2019-2030)

9.3.6.2.        Market Revenue and Forecast, by Application (2019-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Product (2019-2030)

9.4.2.    Market Revenue and Forecast, by Application (2019-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Product (2019-2030)

9.4.3.2.        Market Revenue and Forecast, by Application (2019-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Product (2019-2030)

9.4.4.2.        Market Revenue and Forecast, by Application (2019-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Product (2019-2030)

9.4.5.2.        Market Revenue and Forecast, by Application (2019-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Product (2019-2030)

9.4.6.2.        Market Revenue and Forecast, by Application (2019-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Product (2019-2030)

9.5.2.    Market Revenue and Forecast, by Application (2019-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Product (2019-2030)

9.5.3.2.        Market Revenue and Forecast, by Application (2019-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Product (2019-2030)

9.5.4.2.        Market Revenue and Forecast, by Application (2019-2030)

Chapter 10.  Company Profiles

10.1.              AGCO Corporation

10.1.1.  Company Overview

10.1.2.  Product Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              FlieglAgro-Center GmbH

10.2.1.  Company Overview

10.2.2.  Product Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Agromaster

10.3.1.  Company Overview

10.3.2.  Product Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Amazone Inc

10.4.1.  Company Overview

10.4.2.  Product Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              APV GmbH

10.5.1.  Company Overview

10.5.2.  Product Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Bellota Agrisolutions

10.6.1.  Company Overview

10.6.2.  Product Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              CLAAS KGaAmbH

10.7.1.  Company Overview

10.7.2.  Product Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              CNH Industrial N.V.

10.8.1.  Company Overview

10.8.2.  Product Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Deere & Company

10.9.1.  Company Overview

10.9.2.  Product Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Escorts Limited

10.10.1.               Company Overview

10.10.2.               Product Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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