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Agriculture Equipment Market Worth US$ 168.8 Billion By 2030

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According to the report, the fastest-growing market is North America and the largest market is the Asia Pacific.

The global agriculture equipment market size was estimated at US$ 112.84 billion in 2021 and is projected to be worth around US$ 168.8 Billion by 2030, registering a CAGR of 4.6% from 2021 to 2030.

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The agriculture equipment includes various mechanized equipment such as tractors, harvesters, plant protection equipment, and irrigation equipment that helps in agricultural activities. This modern and technologically advanced equipment helps in producing higher yields with fewer efforts. Further, it saves time by boosting the activities, reduces the use of labor, and saves labor costs.

Agriculture is the primary source of food across the globe. And with the rapid increase in the global population, the demand for food has increased rapidly, creating pressure on the food supply chain. Therefore, the demand for modern agriculture equipment has increased in order to obtain higher yields in less time, thereby propelling the growth of the global agriculture equipment market.

The growth rate from 2021 to 2030 has been projected at a CAGR of 4.6 percent. According to the report, the fastest-growing market is North America and the largest market is the Asia Pacific. The companies covered are CNH Industrial NV, EXEL Industries, Mahindra and Mahindra, Deere & Company, Kubota Corporation, Tractor and Farm Equipment, AGCO Corporation, SDF S.p.a., Bucher Industries AG, CLAAS, ISEKI & Co.

Crucial factors accountable for market growth are:

  • Rising pressure on the food supply
  • Growing demand for agricultural crops from the food and beverages industry
  • Increased government initiatives to develop the agriculture sector
  • Disadvantages associated with the extensive use of labor in agriculture
  • Growing awareness regarding the use of agriculture equipment
  • Increasing mechanization in the agricultural field
  • The growing popularity of automatic equipment

Scope of the Report Agriculture Equipment Market

Report Coverage Details
Market Size In 2021 USD 112.84 Billion
Growth Rate From 2021 to 2030 CAGR of 4.6%
Fastest Growing Market North America
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030

Report Highlights

  • By product type, the tractors segment led the global agriculture equipment market with remarkable revenue share in 2020. Tractor are the most extensively used product that helps in performing the primary functions of agriculture like ploughing, harvesting, and sowing. For this, tractors are the most common and preferred product type across the global farmers.
  • By application, the plant protection is estimated to be the fastest-growing segment during the forecast period. The rising threat of damage to the plants is a major factor that propels the growth of this segment. The yield is maximum if the plants are safe from various threats like birds, animals, and insect attacks.
  • By automation, the automatic segment is estimated to be the most opportunistic segment owing to the rising adoption of automated equipment in order to save time and cost. Also, it helps in reducing efforts by eliminating the excess use of farm labors.

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Market Dynamics:

Driver

The rising demand for the mechanization of agricultural farms in developing nations is a major driver of the global agriculture equipment market. The lack of water resources, lack of skilled labor, and growing dearth of agricultural land is fostering the adoption of mechanized agriculture equipment to generate higher yields by applying fewer resources. This is the primary driver of global agriculture equipment.

Restraints

The high cost of the mechanized agriculture equipment coupled with less awareness regarding various agriculture equipment among the farmers are a major restraining factor that is expected to hamper the growth of the global agriculture equipment market during the forecast period.

Opportunities

The rising developmental activities by the key market players in the agriculture equipment are expected to drive the market in the forthcoming years. For instance, XAG Co. Ltd. launched a jet-sprayer system, named R150 that automatically sprays pollens. It can be connected to the smartphone and can be operated from the smartphone through an app. These technological advancements offers a lucrative growth opportunities to the market players.

Challenges

The rapid industrialization and rapid urbanization are the major challenges that utilize a huge area of land and as a result, the agricultural lands are reducing day by day. The lack of the agricultural land is a major threat to the agriculture equipment industry.

Regional Snapshots

Based on the region, the Asia Pacific is the largest and the fastest-growing market across the globe. The presence of huge population, higher dependence on agriculture, rising penetration of technologies, growing government initiatives to boost agriculture, and growing awareness regarding the use of agriculture equipment are the several important factors that can be held responsible for the rapid growth of the agriculture equipment market in the region. However, the less availability of resources and financial limitations of the farmers in the nations like India, China, and Indonesia are the major factors that may hamper the growth of the market in the region.

Asia Pacific agriculture equipment market is followed by the North America. The higher adoption rate of the advanced technologies in the region has fostered the adoption of automatic agriculture equipment in this region. Further, higher income and government policies regarding the agricultural sector has perfectly complemented the growth of the agriculture equipment market in North America.

Recent Developments

  • In September 2019, CNH Industrial opened its service center in China. This development was focused on the expansion of the business in China and to deliver the products and services at less time to the customers.
  • In August 2021, Deere & Company launched a new tractor, 6155 MH Tractor that offers improved and efficient field performance.

TABLE OF CONTENT

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. COVID 19 Impact on Agriculture Equipment Market 

5.1. COVID-19 Landscape: Agriculture Equipment Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Agriculture Equipment Market, By Product

8.1. Agriculture Equipment Market, by Product Type, 2021-2030

8.1.1. Harvesters

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Tractors

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Irrigation & Crop Process equipment

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Planting Equipment

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Others

8.1.5.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Agriculture Equipment Market, By Application

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

9.1.1. Land & Development

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Weed Cultivation

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Plant Protection

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Sowing & Planting

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Harvesting & Threshing

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Post-Harvest Agro Processing

9.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Agriculture Equipment Market, By Automation 

10.1. Agriculture Equipment Market, by Automation, 2021-2030

10.1.1. Manual

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Semi-Automatic

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Automatic

10.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Agriculture Equipment Market, Regional Estimates and Trend Forecast

11.1. North America

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

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

11.1.3. Market Revenue and Forecast, by Automation (2019-2030)

11.1.4. U.S.

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

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

11.1.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.1.5. Rest of North America

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

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

11.1.5.3. Market Revenue and Forecast, by Automation (2019-2030)

11.2. Europe

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

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

11.2.3. Market Revenue and Forecast, by Automation (2019-2030)

11.2.4. UK

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

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

11.2.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.2.5. Germany

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

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

11.2.5.3. Market Revenue and Forecast, by Automation (2019-2030)

11.2.6. France

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

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

11.2.6.3. Market Revenue and Forecast, by Automation (2019-2030)

11.2.7. Rest of Europe

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

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

11.2.7.3. Market Revenue and Forecast, by Automation (2019-2030)

11.3. APAC

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

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

11.3.3. Market Revenue and Forecast, by Automation (2019-2030)

11.3.4. India

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

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

11.3.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.3.5. China

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

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

11.3.5.3. Market Revenue and Forecast, by Automation (2019-2030)

11.3.6. Japan

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

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

11.3.6.3. Market Revenue and Forecast, by Automation (2019-2030)

11.3.7. Rest of APAC

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

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

11.3.7.3. Market Revenue and Forecast, by Automation (2019-2030)

11.4. MEA

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

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

11.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.4.4. GCC

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

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

11.4.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.4.5. North Africa

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

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

11.4.5.3. Market Revenue and Forecast, by Automation (2019-2030)

11.4.6. South Africa

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

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

11.4.6.3. Market Revenue and Forecast, by Automation (2019-2030)

11.4.7. Rest of MEA

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

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

11.4.7.3. Market Revenue and Forecast, by Automation (2019-2030)

11.5. Latin America

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

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

11.5.3. Market Revenue and Forecast, by Automation (2019-2030)

11.5.4. Brazil

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

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

11.5.4.3. Market Revenue and Forecast, by Automation (2019-2030)

11.5.5. Rest of LATAM

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

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

11.5.5.3. Market Revenue and Forecast, by Automation (2019-2030)

Chapter 12. Company Profiles

12.1. CNH Industrial N V

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Mahindra and Mahindra Ltd.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Deere & Company

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Kubota Corporation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. AGCO Corporation

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. EXEL Industries

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. SDF S.p.a.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Bucher Industries AG

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Tractor and Farm Equipment Ltd.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. CLAAS KGaAmbH

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. ISEKI & Co. Ltd.

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global agriculture equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for the agriculture equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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