The global agricultural equipment market will grow at a compound annual growth rate (CAGR) of more than 8% during the forecast period from 2021-2030.
The agricultural equipment includes mechanical devices that have applications in farming and agricultural activities. The widely used agricultural equipments are mowers, sprayers, balers, tractors, plows, planters, combines, etc. These technologies are efficient for use in various activities including, planting, harvesting, land preparation, plant cultivation, and sowing seeds.
The growing agricultural activities would ultimately boost the demand for agricultural equipment. The world population is increasing at a significant rate, surging the demand for food. Thus, with the increasing demand for food, the requirement for agricultural activities would ultimately fuel. Moreover, government initiatives to decrease malnutrition and the hunger index would boost the demand for agricultural activities, which would ultimately increase the adoption of agricultural equipment.
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Governments of various countries have been introducing favorable policies and initiatives to support farmers and agricultural activities. Various government bodies provide loans to help farmers adopt modern methods of agriculture. Such initiatives would contribute to the growth of the overall market. The farmers in the United States are provided with loan facilities to buy livestock, seeds, and equipment. Thus, the government initiatives would boost the growth of the global agricultural equipment market.
However, the high costs associated with the agricultural equipment are expected to restrain the market from growth. The advancements in agricultural equipment increase the price of the technology.
COVID-19 Impact Analysis
The COVID-19 pandemic had severely declined the demand for agriculture equipment. The global crisis disrupted the entire value chain, especially in developing and underdeveloped regions. Moreover, the global pandemic had adversely affected the financial capacity of the farmers, due to which farmers avoided purchasing such costly equipment.
Global Agricultural Equipment Market – Regional Insights
North America is leading in the global agricultural equipment market by acquiring the maximum share. The market witnesses the highest adoption of advanced and modern technologies in the region. Moreover, the presence of leading companies in the region further expands its contribution to the global market. Apart from that, government initiatives and favorable farm laws would influence the growth of the global agricultural equipment market.
Meanwhile, Europe and Asia-Pacific region is forecast to contribute to the growth of the global agricultural equipment market during the forecast period.
Key Market Players
- Kubota Corporation (Japan)
- J C Bamford Excavators Ltd. (United Kingdom)
- China National Machinery Industry Corporation Ltd.(China)
- AGCO Corporation (United States)
- SDF S.p.A. (Europe)
- Deere & Company (United States)
- CNH Industrial N.V. (Europe)
- Escorts Limited (India)
- Mahindra & Mahindra Ltd. (India)
- Bellota (Europe)
- CLAAS KGaA MBH (Germany)
- Horsch Maschinen GmbH (Germany)
- J.C. Bamford Excavators Ltd. (United Kingdom)
- Maschio Gaspardo S.P.A. (Europe)
- Morris Industries Ltd. (Unites States)
- TAFE (India)
- Valmont Industries, Inc. (Unites States)
- Mater Macc S.p.A. (Europe)
- Other prominent players
Market Segmentation
By Type
- Tractors
- Compact Utility Tractors
- Utility Tractors
- Row Crop Tractors
- Plowing and Cultivating Machinery
- Planting Machinery
- Row crop planters
- Air seeders
- Grain drills
- Others
- Harvesting Machinery
- Haying and Forage Machinery
- Irrigation Machinery
- Other Types
By Application
- Land Development & Seed Bed Preparation
- Sowing & Planting
- Weed Cultivation
- Plant Protection
- Harvesting & Threshing
- Post-harvest &Agro Processing
By Power Output
- <30 HP
- 31–70 HP
- 71–130 HP
- 131–250 HP
- >250 HP
By Drive Type
- Two-Wheel Drive
- Four-Wheel Drive
By Equipment Type
- Cereal Combines
- Non-Cereal Combines
- Balers
- Sprayers
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Agricultural Equipment Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Agricultural Equipment market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Agricultural Equipment Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Agricultural Equipment market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Agricultural Equipment market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Agricultural Equipment market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Agricultural Equipment market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Agricultural Equipment business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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