Agricultural Equipment Market

Key Insights

The Global Agricultural Equipment Market is valued at USD 124.6 Billion in 2023 and is projected to reach a value of USD 231.1 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 8.03% between 2024 and 2032.

Definition and Overview

An Agricultural equipment is any kind of machinery used on a farm to help with farming. The best-known example of this kind is the tractor. Dragged teeth (also called shanks) that pierce the soil.

The report covers in-depth study on the global Agricultural Equipment market, which comprises market trends such as drivers, restraints, and opportunities, regional trends, segmental analysis, and competitive landscape among others. This study comprises the market estimations and forecast in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. The report includes a separate chapter covering detailed Agricultural Equipment market overview that includes Porter’s Five Forces Analysis, PESTLE Analysis, Player Positioning Analysis, SWOT Analysis, and Value Chain Analysis among others.

COVID-19 Impact Analysis

The wise spread COVID-19 outbreak has impacted several industries including Agricultural Equipment. The governments across the globe compel to employ stringent restriction such as lockdown, international border seals, and implementing strict social distancing measures. This forces serval industries to opt for work from home which in turn disrupted the business processes. However, after mid 2023 the world is witnessing reopening of trading activities, business operations which is expected to stimulate the economic growth during upcoming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long-term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report explains various driving factors, restraints/challenges, and opportunities in detail. These assessments aid the industry stakeholders to analyze the Agricultural Equipment market on the basis of different parameters, such as economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences.

Farming activities are increasingly getting mechanised, and the availability, quality and performance of agricultural equipment has an increasing impact on improving the output and productivity of the agricultural sector.

Over the years, the share of human and animal power in agriculture has reduced drastically, paving the way for a variety of equipment to emerge. Many of these are driven by tractors, diesel engines or tillers.

Small and fragmented land holdings, Less investing capacity of farmers, Agricultural labour is easily available, Adequate draught animals are available in the country, Lack of availability of suitable farm machines for different operations, Lack of repair and servicing facilities for machines, Lack of trained man power, Lack of co-ordination between research organization and manufacturer, High cost of machines, Inadequate quality control of machines, are determinants restraining the market growth.

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Product, Application, and region. The report will cover market estimations and forecast for each segment by region for the years 2019–2032. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product, the market is divided into Tractors, Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, Others. Tractors held the largest share in 2022 and is projected to witness substantial growth during the forecast period.

Based on the segmentation of the Application, the market is divided into Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest & Agro Processing. land development and seed bed preparation attributed to the highest market share and is expected to grow at a significant CAGR from 2023 to 2032.

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Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

• Real-Time Data Updates:
• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

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Competitive Landscape

The global Agricultural Equipment market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Agricultural Equipment market are CNH Industrial N.V. (UK), Alamo Group Inc. (U.S.), AGCO Corp. (U.S.), Bucher Industries AG (Switzerland), Escorts Group (India), ARGO SpA (Italy), Claas KGaA mbH (Germany), and Deere & Company (U.S.), to name a few. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.

Global Agricultural Equipment Market : Regional Analysis

Based on the geography, the global Agricultural Equipment market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2019–2032. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same. Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Agricultural Equipment market.

The global Agricultural Equipment market can be categorized as Type, Application, End-Use Industry, and Region.