Agriculture Equipment Market

Agriculture Equipment Market is projected to reach USD 168 Billion by 2027, exhibiting a CAGR of 8% during forecast period.

Introduction of the Agriculture Equipment Market Report

Agriculture equipment refers to machinery used in farming or other agricultural activities. There are numerous types of equipment, starting from hand tools and power tools to tractors and various other kinds of farm implements. The continuous innovation in agricultural machines is changing the way that humans operate machines such as computer monitoring systems, self-steer programs, and GPS locators.

To have an edge over the competition by knowing the market dynamics and current trends of “Agriculture Equipment Market,” request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

The global agriculture equipment industry is expanding at a sustainable rate during the forecast period. The increasing adoption of modern technologies by the farmers to improve the quality of farm yield and capture the growing demand for food is one of the biggest factors that is responsible for the growth of the market during the forecast period. The farmers are now moving towards the adoption of modern agricultural machinery rather than using traditional farming techniques such as plows, tillage, and seeders. Various types of advanced farming machinery such as spraying equipment, harvesters, and irrigation and crop processing equipment are increasingly used in different processes to improve the overall crop output and quality. For example, the leading farm machinery manufacturers are focusing on using integrated technologies such as Google Earth, GPS, and Robotic systems into the present equipment to enhance the overall productivity.

Numerous technological advancements in agricultural equipment’s such as the introduction of ground-based sensors, autonomous tractors, and flying drones, are helped the farmers to produce food at a reduced cost to meet the increasing demand for food. The farmers are becoming tech-savvy and moving towards the adoption of GPS software products and tractors equipped with telematics are further surging the growth of the market over the coming years. Furthermore, the government of major economies is implementing different farm waiver schemes to support the farmers to purchase farm equipment. For example, the US Farm Service Agency offers guaranteed and direct farm ownership and operating loans to family-size farmers that are not able to get commercial credit from the bank, Farm Credit System institution, or other lenders. Thus, the rising number of government programs and schemes is opening new doors for the growth of the agricultural equipment industry over the coming years.

Restraint in the Agriculture Equipment Market

However, on the other hand, the high cost of advanced machinery, such as complex mechatronic systems that need specialized manufacturing and assembling processes, is a major factor that is likely to hamper the market growth. Moreover, the inability of small farmers to invest a high amount is further contributing to the low penetration of farm equipment, particularly in the developing economies.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Product- Segment Analysis

Based on the Product, the tractor segment is predicted to dominate the global agriculture equipment market during the forecast period. The tractors segment is anticipated to dominate the market during the forecast period. Tractors are considered as essential farm machinery that is used for different types of activities, including standalone equipment and in tandem with other implements. Moreover, the growing rate of mechanization, followed by the increasing population rate are certain other factors that are responsible for the growth of the segment. On the other edge, the harvesters segment is anticipated to grow at a faster CAGR during the forecast period. The rising preference towards the usage of harvesters for high productivity and reduce the dependency on farm labor is one of the biggest factors that is surging the growth of the segment in the market.

Application – Segment Analysis

On the basis of the application, the land development and seed bed preparation segment is projected to lead the market over the forecast period. The strong demand for different farm products across various applications such as land development, plant protection, harvesting, sowing, and planting, has resulted in a shortage of farm labor. This factor has increased the demand for a wide range of agriculture equipment in order to deal with the scarcity of localized labor supply.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the region, Asia-pacific is projected to lead the global agriculture equipment market during the forecast period. The strong economic growth, especially in China, India, and Middle Eastern countries is a key driver that is boosting the growth of the market in this region. Moreover, the low level of mechanisation and the large area of agricultural land is further attracting end-users towards the market. On the other hand, North America is expected to grow at a faster CAGR during the forecast period. The introduction and usage of machines with better fuel efficiency and the improved features are contributing to the growth of the market in this region. Furthermore, the shortage of farm labor in the U.S. is encouraging the farmers to opt for agriculture equipment in order to complete their save their time and improve the quality of yields.

Top Market Players

The leading agriculture equipment manufacturers are AGCO Corporation, Fliegl Agro-Center GmbH, Atespar, AMAZONEN-WERKE H. Dreyer GmbH & Co. KG, APV GmbH, Bellota, CLASS KGaA mbH, CNH Industrial, Escorts Limited, and HORSCH, among others.

Key Developments:

• • In 2019, CNH Industrial successfully acquired an Australian agricultural implement manufacturer K-Line Ag. This acquisition helped in adding key tillage and residue management equipment, which helped in enhancing the crop production portfolios of Case IH and New Holland Agriculture.
  • In 2017, AGCO Corporation announced to acquire the forage division of Lely Group. The integration of Lely’s industry leading competence helped in strengthening the AGCO’s full line product offering.

Segments covered in the Report:

The global Agriculture Equipment market has been segmented on the basis of Product, application and key regions. Based on product, the market is segmented tractors, harvesters, planting equipment, irrigation & crop processing equipment, hay & forage equipment, spraying equipment and others. Based on the application, the market is segmented land development & seed bed preparation, sowing & planting, weed cultivation, plant protection, harvesting & threshing and post-harvest & agro-processing. 

For detailed scope of the “Agriculture Equipment Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Agriculture Equipment market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Agriculture Equipment market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Agriculture Equipment market?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various application areas of global Agriculture Equipment market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Agriculture Equipment Market by Product

• • Tractors
  • Harvesters
  • Planting Equipment
  • Irrigation & Crop Processing Equipment
  • Spraying Equipment
  • Hay & Forage Equipment
  • Others

Global Agriculture Equipment Market by Application

• • Land Development & Seed Bed Preparation
  • Sowing & Planting
  • Weed Cultivation
  • Plant Protection
  • Harvesting & Threshing
  • Post-harvest & Agro Processing

Global Agriculture Equipment Market by Region

• • North America Agriculture Equipment Market (Option 1: As a part of the free 25% customization)
    • North America Market by Product
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Agriculture Equipment Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Product
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Market All-Up
  • Asia-Pacific Agriculture Equipment Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Product
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Agriculture Equipment Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Product
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Agriculture Equipment (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AGCO Corporation
  • Fliegl Agro-Center GmbH
  • Atespar
  • AMAZONEN-WERKE H. Dreyer GmbH & Co. KG
  • APV GmbH
  • Bellota
  • CLASS KGaA mbH
  • CNH Industrial
  • Escorts Limited
  • HORSCH