The Global Agriculture Equipment Market Size Accounted for USD 128 Billion in 2021 and is predicted to be worth USD 234 Billion by 2030, with a CAGR of 7.1% during the forthcoming period from 2022 to 2030.

Machinery used in specific agricultural processes such as farming, threshing, field, and agro-processing, are agricultural equipment. Modern implements are supplemented by farm equipment: plough and blade harrow have been used for conventional field growth activities. Furthermore, modern usage requires tractors, plough moulding and spraying equipment.

Global Agriculture Equipment Market DRO’s

Market Drivers

• Rising demand for high-capacity machines and equipment globally
• Increasing demand for self-propelled automated systems globally
• Focus on productivity to maximize agricultural ROI in Asian countries
• The rise of contract farming and devoted sourcing through corporate collaboration

Market Restraints

• High agricultural equipment costs
• The volatility of commodity prices
• Fluctuating raw material costs

Market Opportunities

• Increasing research and development and adoption of electric tractors
• OEM and sales incentives to support rental and service operational processes at dealers

Agriculture Equipment Market Report Coverage

Agriculture equipment is an important tool used in crop cultivation to achieve the highest yields with relatively little effort on farmlands. The rising population in both developing and advanced economies is putting strain on the supply chain for food due to increased demand for agro-based food. Tractors, farm machinery, and crop production equipment are more and more being used in agricultural activities throughout the world to increase yields way quicker and with less effort. This is really a major driving force in the global agricultural equipment market. Furthermore, this agricultural equipment contributes to lower labor costs. Semi-automatic as well as fully automated agriculture equipment, in particular, helps to improve work efficiency and minimize the use of surplus labor, promoting the requirement for agriculture equipment around the globe.

Increase in mechanizing various agricultural activities including plowing, planting, harvesting and tilling would fuel demand for agriculture equipment that drives the global agricultural machinery industries to expand. The knowledge of the advantages of mechanical equipments such as tractors, harvesters and other machines raises farmer’s reliance on agricultural equipment. In addition, specific farming promotes productivity of agricultural practices, improves competitiveness and preserves land wealth, resulting in higher agricultural production. A variety of items supplied by major players in the farming equipment industry assist farmers in various farms such as seeding and harvesting, which also facilitates farm machinery installation. This adds greatly to the development of the global demand for agricultural machinery.

Agriculture Equipment Market Segmentation

The global agriculture equipment market segmentation is based on the type, function, sales channel, and geographical region.

Market by Type

• Harvester
• Soil Separation & Cultivation Equipment
• Tractor
• Planting Equipment
• Others

In terms of type, the tractor segment is expected to dominate the market in 2021. This is due to the increased use of tractors in fundamental agricultural activities such as ploughing, sowing, harrowing, harvesting, and transporting. Furthermore, autonomous farm tractors as well as combines, i.e., farm equipment equipped with harvesting machines and equipment as well as tractors equipped with crop protection equipment, are widely used in preparing more land for agriculture, even in mountainous regions.

Market by Function

• Planting & Fertilizing
• Harvesting
• Plowing & Cultivation
• Haying
• Others

Based on the functions, the planting and fertilizing segment is considered to have the largest CAGR during the projected period, according to the agriculture equipment market forecast. This is due to plant protection becoming increasingly important. The growing requirement for food and better productivity is achieved by installing proper modern mechanized plant protection equipment.

Market by Sales Channel

• Aftermath
• OEMs

The global agriculture equipment market trends are divided into OEM and aftermarket segments based on the sales channel. Due to the overall increasing amount of agriculture equipment aftermarket centers in emerging economies such as China, India, Brazil, and Argentina, which have a significant agricultural base, the aftermarket industry is estimated to exhibit at the fastest rate during the projected period.

Agriculture Equipment Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa