Agriculture Equipment Market By Product Type (Tractors, Combine Harvesters, Threshers, Cultivators & Tillers, and Others), By Application (Land Development and Seed Bed Preparation, Harvesting and Threshing, Weed Cultivation, Sowing and Planting, and Others), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Agriculture equipment assists farmers to makes the farming process easier and more lucrative by reducing labor cost and improving crop quality. Agriculture equipment becomes an essential tool for the farming process. The agriculture sector is gradually changing from conventional farming to modern farming with high acceptance of advanced machinery to enhance crop productivity.

High adoption of tractors equipped with telematics and GPS software products is projected to spur the sales of agriculture equipment over the forecast years.

The Agriculture Equipment market was valued at 167.7 billion US$ in 2022 and is projected to reach 263.2 billion US$ by 2030, at a CAGR of 5.8% during the forecast period.

Agriculture Equipment Market Revenue by, 2022-2030

Market Dynamics

The rising population across the world has increased the demand for crop and food production that augment the adoption of agricultural machinery to reduced time. The shift in consumer perception towards the use of advanced technology-driven equipment in agriculture sector coupled with the rising need for crop efficiency and productivity are some other primary factors that drive the demand and growth of the market.

However, the high cost of equipment and changing climate condition might pose a considerable threat to the growth prospects of the agriculture equipment market. The high pricing structure of advance agriculture equipment compared to conventional farming might also hamper the market growth.

The rising number of a government scheme to farmer along with rapid adoption of cost-cutting plan to design agriculture equipment is expected to offer new opportunities for business expansion to various leading players over the forecast period.

Market Segmentation

The agriculture equipment market is segmented by Product Type into Tractors, Combine Harvesters, Threshers, Cultivators & tillers, and Others. By application, the agriculture Equipment Market is segregated into Land Development and Seed Bed Preparation, Harvesting and Threshing, Weed Cultivation, Sowing and Planting, and Others.

Tractors and Combine Harvesters segments hold significant market share in the global market scenario. The innovation in tractors such as multi-purpose tractors introduction coupled with several applications of tractors in agriculture is projected to spur the tractor segment growth.

Harvesting & threshing segment is anticipated to witness steady market growth during the forecast period owing to its ability to simplify the crop harvesting process in less time.

Regional Analysis

Based on the region, the agriculture Equipment Market is split into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Asia-Pacific is expected to be a dominant market across the globe. Emerging countries such as India and China are anticipated to maintain a dominant position in the agriculture equipment market during the forecast period. Rising demand and adoption of modern agriculture equipment among farmers in these countries has spurred the market owing to augmented support and incentivised schemes by the government.

North America is the significant region which holds the majority of the global market share, followed by Europe. Introduction of advanced farming machinery with improved features in the North America region and shortage of human labor for agriculture activities in Europe region that depends on agriculture equipment. Farmers in developed economies are using modern technologies such as GPS enabled devices, moisture sensors, drones, self-driving tractors, terrain contour mapping, and smart irrigation to surge farm yield and increase food demand.

Competitive Analysis

The global agriculture equipment market is primarily into the development phase, and thus witnesses intense competitiveness amongst leading market vendors based on innovative R&D efforts and product development. The companies are highly focused on the commercialization of viable products to seize advantage of the favorable market dynamics and market traction.

The significant companies of the global agriculture equipment market include AGCO Corporation, AgrostrojPelhrimov A.s, China National Machinery Industry Corporation, Concern Tractor Plants, Deere & Company, Escorts Limited, Mahindra Group, Same Deutz-Fahr Group (SDF), Valmont Industries Incorporated, and Weifang Euroking Machinery among others.

Technological innovation and development of commercially-viable products is the primary business strategy of the key companies, coupled with the formation of strategic collaborations and partnerships to expand production capabilities and business activities on a global scale.

Global Agriculture Equipment Market Segmentation

By Product Type
• Tractors
• Combine Harvesters
• Threshers
• Cultivators &Tillers
• Others

By Application
• Land Development and Seed Bed Preparation
• Harvesting and Threshing
• Weed Cultivation
• Sowing and Planting

The following manufacturers are covered in the report:

• AGCO Corporation
• AgrostrojPelhrimov A.s
• China National Machinery Industry Corporation
• Concern Tractor Plants
• Deere & Company
• Escorts Limited
• Mahindra Group
• Same Deutz-Fahr Group (SDF)
• Valmont Industries Incorporated.
• Weifang Euroking Machinery

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Agriculture Equipment Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. The rising population across the world hasincreased the demand for crop and food production that augment the adoption of agricultural machinery to reduced time
3.3.2. The shift in consumer perception towards the use of advanced technology-driven equipment in the agriculture sector
3.3.3. Rising need for crop efficiency and productivity
3.4. Restraints
3.4.1. the high cost of equipment and changing climate condition
3.4.2. The high pricing structure of advance agriculture equipment in comparison to conventional farming
3.5. Opportunity
3.5.1. The rising number of a government scheme to the farmer
3.5.2. The rapid adoption of a cost-cutting plan to design agriculture equipment
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Product Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Tractors
4.2.1. Market Size & Forecast
4.3. Combine Harvesters
4.3.1. Market Size & Forecast
4.4. Threshers
4.4.1. Market Size & Forecast
4.5. Cultivators & tillers
4.5.1. Market Size & Forecast
4.6. Others
4.6.1. Market Size & Forecast

5. Application Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Land Development and Seed Bed Preparation
5.2.1. Market Size & Forecast
5.3. Harvesting and Threshing
5.3.1. Market Size & Forecast
5.4. Weed Cultivation
5.4.1. Market Size & Forecast
5.5. Sowing and Planting
5.5.1. Market Size & Forecast
5.6. Others
5.6.1. Market Size & Forecast

6. Agriculture Equipment Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Agriculture Equipment Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Product Type
6.2.3. North America Market Size & Forecast, By Application
6.2.4. The U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Agriculture Equipment Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Product Type
6.3.3. Europe Market Size & Forecast, By Application
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Spain
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Agriculture Equipment Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Product Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Agriculture Equipment Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Product Type
6.5.3. South America Market Size & Forecast, By Application
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. The Middle East & Africa Agriculture Equipment Market
6.6.1. The Middle East & Africa Market Size & Forecast, By Country
6.6.2. The Middle East & Africa Market Size & Forecast, By Product Type
6.6.3. The Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. AGCO Corporation
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. AGCO Corporation Product Category, Application, and Specification
7.1.3. AGCO Corporation Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. AgrostrojPelhrimov A.s
7.3. China National Machinery Industry Corporation
7.4. Concern Tractor Plants
7.5. Deere & Company
7.6. Escorts Limited
7.7. Mahindra Group
7.8. Same Deutz-Fahr Group (SDF)
7.9. Valmont Industries Incorporated.
7.10. Weifang Euroking Machinery