Agriculture & Farm Equipment
Agriculture & Farm Equipment Market by Equipment Type (Harvesters, Planting Equipment, Tractors), Application (Harvesting, Land Development, Pest and Weed Control), Farm Operation, Technology, Crop Type, Energy Source, End User - Global Forecast 2025-2030
SKU
MRR-431B7BFFBF3F
Region
Global
Publication Date
February 2025
Delivery
Immediate
2024
USD 116.45 billion
2025
USD 123.35 billion
2030
USD 162.44 billion
CAGR
5.70%

The Agriculture & Farm Equipment Market size was estimated at USD 116.45 billion in 2024 and expected to reach USD 123.35 billion in 2025, at a CAGR 5.70% to reach USD 162.44 billion by 2030.

Agriculture & Farm Equipment Market
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The agriculture and farm equipment market encompasses a wide range of machinery and tools used for cultivating, harvesting, and processing crops and livestock, including tractors, plows, harvesters, irrigation systems, and milking machines. The necessity of modern agricultural equipment is rooted in the demand for higher efficiency, productivity, and sustainability in farming, driven by the surge in global food demand and shrinking arable land. Application-wise, this includes mechanization for small to large-scale farms, precision agriculture involving GPS and IoT for site-specific crop management, and automated equipment reducing labor dependency. The end-use scope extends from individual farmers and cooperatives to large agribusinesses and commercial agricultural operations.

Key growth factors include technological advancements, such as AI and robotics in agriculture, and a rising emphasis on sustainable farming practices. Additionally, government support through subsidies and loan facilities encourages the adoption of advanced machinery. Latest opportunities lie in the integration of smart technologies, like drones and sensors for data-driven farming, and battery-powered equipment for eco-friendly operations. To seize these opportunities, companies should focus on developing cost-effective and easy-to-use solutions tailored to diverse geographic needs.

Nonetheless, barriers to growth include the high initial investment costs, lack of skilled operators, and fragmented landholding patterns, especially in developing regions. Challenges also arise from fluctuating commodity prices, affecting farmers' purchasing power, and the need for regular maintenance of equipment.

Innovation areas include next-gen tractors powered by alternative fuels, advancement in autonomous machinery, and development of compact and multifunctional equipment for smallholders. Research should focus on breakthroughs in crop-specific machinery and enhancing connectivity in rural areas to boost precision agriculture capabilities. The market is evolving towards a more technologically adept and sustainable model, taking a proactive approach in integrating cutting-edge technologies while addressing economic and operational constraints to ensure broad adoption and growth.

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Market Dynamics

The market dynamics represent an ever-changing landscape of the Agriculture & Farm Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Analyzing the impact of these strategic market drivers on sustainable farming equipment solutions
    • Market drivers that are redefining technological integration in agriculture and farming equipment
    • The synergy of these market drivers is revolutionizing investment in agriculture and farming sectors
  • Market Restraints
    • Understanding the pressing regulatory challenges facing the global farm equipment market
    • Identifying the significant market barriers impacting agricultural equipment advancements
    • Unpacking the challenges hindering the expansion of the global farm machinery industry
  • Market Opportunities
    • Unveiling growth prospects in the smart sensor equipment market driven by data-driven agriculture practices
    • Evaluating the expansion potential of the global vertical farming market as urbanization continues to rise
    • Analyzing potential growth in the drone technology sector for effective farm monitoring and management
  • Market Challenges
    • Exploring the implications of supply chain disruptions on the availability and cost of farm equipment
    • Addressing the rising concerns over equipment maintenance costs and their effect on purchasing decisions
    • Understanding the financial constraints faced by small-scale farmers affecting equipment purchases

Market Segmentation Analysis

  • Equipment Type: Growing significance of seed drills in precision farming practices

    Designed to compact and bind cut crops into convenient bales, balers are essential for efficiently handling, transporting, and storing farm produce. They come in various types, including round and square balers, accommodating different requirements and scales of operations within the agriculture sector. The plough is a fundamental agricultural implement used for initial soil preparation. Turning over the soil's upper layer, this equipment brings fresh nutrients to the surface while burying weeds and crop residues. Power tillers are versatile, motorized units designed for soil cultivation, making them exceptionally suitable for small to medium-sized farming operations. These machines prepare the land for planting by mixing and breaking up the soil, enhancing aeration, and facilitating seedbed preparation. Power weeders are critical in the maintenance of agricultural land, assisting farmers in weed control with efficiency and precision. Operating through mechanical means, these tools significantly reduce the labor and time involved in manual weeding. The seed drill revolutionizes the sowing process by placing seeds at the correct depth and spacing, enhancing germination rates and crop uniformity. This equipment minimizes seed wastage and ensures optimal soil contact, which is crucial for successful crop establishment. Threshers and dehuskers are key in separating grains and seeds from their husks and stalks after harvest, a process critical for crop processing and market readiness. These machines improve the speed and efficiency of post-harvest handling, directly impacting the profitability and productivity of farming operations. Tractors are crucial in modern agriculture, offering versatility and power in farm operations. From tillage, planting, and crop care to harvesting and transport, tractors drive agricultural efficiency and productivity through their ability to operate a wide range of implements.

  • Function: Demand for plowing and cultivating equipment to improve soil health and aeration

    In the agricultural sector, harvesting and threshing equipment is crucial in efficiently removing grains and seeds from their plants and separating them from their husks and stalks. This machinery enhances the speed and efficiency of the harvesting process and minimizes waste, ensuring the maximum quantity of produce is retained for sale or further processing. Integrated into the agriculture and farm equipment spectrum, plant protection and fertilizing tools are indispensable for maintaining crop health and optimizing growth. These technologies enable the precise application of pesticides and fertilizers, reducing the usage of these inputs while ensuring plants receive the necessary nutrients and protection from pests and diseases, improving overall yield and sustainability. Plowing and cultivating equipment is fundamental in preparing the land for planting. These machines are designed to turn the soil and create a fertile seed bed by removing weeds, mixing compost into the earth, and aerating the soil. The utilization of such machinery is vital for enhancing soil conditions, promoting healthy crop growth, and maximizing agricultural productivity. The sowing and planting phase of agriculture is significantly enhanced by specialized equipment designed for precise seed placement and optimal planting density. Such technology ensures uniform seed distribution, appropriate depth placement, and correct spacing, factors critical for achieving optimal germination rates and ensuring efficient use of resources, leading to increased crop yields.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Agriculture & Farm Equipment Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

PESTLE Analysis

The PESTLE analysis offers a comprehensive tool for understanding and analyzing the external macro-environmental factors that impact businesses within the Agriculture & Farm Equipment Market. This framework examines Political, Economic, Social, Technological, Legal, and Environmental factors, providing companies with insights into how these elements influence their operations and strategic decisions. By using PESTLE analysis, businesses can identify potential opportunities and threats in the market, adapt to changes in the external environment, and make informed decisions that align with current and future conditions. This analysis helps companies anticipate shifts in regulation, consumer behavior, technology, and economic conditions, allowing them to better navigate risks and capitalize on emerging trends.

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Agriculture & Farm Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Agriculture & Farm Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Recent Developments

  • John Deere Partnership Digitizes Farming Equipment, Offers Customization

    John Deere and agtech company Corteva are set to revolutionize the agricultural sector by merging Corteva's advanced data analytics with John Deere's cutting-edge farming equipment. This collaboration seeks to transform the agricultural landscape, offering farmers real-time monitoring and personalized agronomic recommendations, thereby enhancing efficiency and productivity on farms. This initiative marks a significant step towards simplifying the digital technology landscape for farmers, allowing for seamless access to data-driven insights through the John Deere Operations Center. [Published On: February 05, 2024]

  • CNH plans to invest up to USD 50 million in India in 2024; launch 105 HP tractor in May

    CNH Industrial N.V., a New Holland brand of farm machinery and equipment, is poised to bolster its market presence with a substantial investment of up to USD 50 million in the farm machinery segment within the current year. The company's expansion efforts include significant investments in the tractor division and in developing a new tractor model above 45 H.P., promising higher fuel efficiency. [Published On: January 28, 2024]

  • Mahindra OJA set to Transform Farming in India, with the launch of 7 Revolutionary Lightweight 4WD Tractors

    Mahindra has unveiled its groundbreaking OJA tractor range, a testament to engineering and innovation prowess, spearheaded by collaborative efforts between Mahindra Research Valley in India and Mitsubishi Mahindra Agriculture Machinery in Japan, with an investment of INR 1200 crore. This global lightweight tractor platform, inspired by the Sanskrit word "Ojas" for "powerhouse of energy," represents a monumental shift in the Light Weight 4WD Tractor segment. [Published On: August 15, 2023]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Agriculture & Farm Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Agriculture & Farm Equipment Market, highlighting leading vendors and their innovative profiles. These include Agco Corporation, AgroChem Inc., Agrostroj Pelhřimov, a.s., ASPEE Agro Equipment Pvt Ltd, Boston Crop Sprayers, Bucher Industries AG, China National Machinery Industry Corporation, CNH Industrial N.V., Deere & Company, Dura Products, Inc., Enduraplas, EXEL Industries SA, Greenleaf Technologies, GUSS, GVM Incorporated, H&H Farm Machine Co., Hardi International A/S, Hockley International Limited, J C Bamford Excavators Ltd., Jacto, Kubota Corporation, Kverneland Group, Lemken GmbH & Co. KG, Lundell Plastics Corp., Magnation Water Technologies, Mahindra & Mahindra Ltd., MS Gregson, Osborne Industries, Inc., Robinson Industries, Inc., SDF S.p.A., ShelterLogic Group, SZ DJI Technology Co., Ltd., Team Sprayers Ltd., and Yamaha Motor Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Agriculture & Farm Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Equipment Type
    • Harvesters
      • Combine Harvesters
        • Self-Propelled Combines
        • Tractor Mounted Combines
      • Forage Harvesters
    • Planting Equipment
      • Planters
        • Mechanical Planters
        • Pneumatic Planters
      • Seed Drills
        • Handheld
        • Tractor Mounted
    • Tractors
      • Industrial Tractors
      • Row Crop Tractors
      • Utility Tractors
        • Compact Utility Tractors
        • Mid-Size Utility Tractors
  • Application
    • Harvesting
      • Cotton Harvesting
      • Grain Harvesting
      • Mechanized Harvesting
    • Land Development
    • Pest and Weed Control
    • Thinning
    • Tillage
      • Primary Tillage
      • Secondary Tillage
  • Farm Operation
    • Large Farms
      • Corporate Farms
      • Plantations
    • Medium Farms
      • Horticultural Farms
      • Mixed Farms
    • Small Farms
      • Smallholder Farmers
      • Subsistence Farmers
  • Technology
    • Automated Systems
      • AI-Based Equipment
      • Autonomous Tractors
    • Drones
      • Monitoring Drones
      • Seeding Drones
    • Precision Farming
      • GIS/Mapping Systems
      • GPS Systems
  • Crop Type
    • Cereals and Grains
      • Barley
      • Rice
      • Wheat
    • Fruits and Vegetables
      • Citrus Fruits
      • Leafy Vegetables
      • Root Vegetables
    • Oilseeds
      • Canola
      • Soybeans
      • Sunflowers
  • Energy Source
    • Diesel-Powered Equipment
    • Electric-Powered Equipment
    • Hybrid Equipment
      • Diesel-Electric
      • Petrol-Electric
  • End User
    • Cooperatives
    • Government Contractors
    • Individual Farmers
    • Rental Services
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Agriculture & Farm Equipment Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Agriculture & Farm Equipment Market, by Equipment Type
  7. Agriculture & Farm Equipment Market, by Application
  8. Agriculture & Farm Equipment Market, by Farm Operation
  9. Agriculture & Farm Equipment Market, by Technology
  10. Agriculture & Farm Equipment Market, by Crop Type
  11. Agriculture & Farm Equipment Market, by Energy Source
  12. Agriculture & Farm Equipment Market, by End User
  13. Americas Agriculture & Farm Equipment Market
  14. Asia-Pacific Agriculture & Farm Equipment Market
  15. Europe, Middle East & Africa Agriculture & Farm Equipment Market
  16. Competitive Landscape
  17. List of Figures [Total: 31]
  18. List of Tables [Total: 1171 ]
  19. List of Companies Mentioned [Total: 34]
360iResearch Analyst Ketan Rohom
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Frequently Asked Questions
  1. How big is the Agriculture & Farm Equipment Market?
    Ans. The Global Agriculture & Farm Equipment Market size was estimated at USD 116.45 billion in 2024 and expected to reach USD 123.35 billion in 2025.
  2. What is the Agriculture & Farm Equipment Market growth?
    Ans. The Global Agriculture & Farm Equipment Market to grow USD 162.44 billion by 2030, at a CAGR of 5.70%
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