Agriculture And Farm Equipment Market Size and Market Trends: Complete Industry Overview (2024 to 2031
Executive Summary
The Agriculture And Farm Equipment market research reports show that the market is currently experiencing significant growth due to increased mechanization in farming practices globally. The market is expected to grow at a CAGR of % during the forecasted period.
Market trends in the Agriculture And Farm Equipment industry include the increasing adoption of advanced technologies such as GPS and automation systems in farming equipment, growing demand for precision farming tools, and the rising popularity of smart agriculture solutions.
In North America, the Agriculture And Farm Equipment market is witnessing steady growth, driven by the presence of large-scale commercial farms and the high adoption rate of advanced agricultural technologies. The Asia-Pacific region, particularly China, is expected to demonstrate rapid growth in the Agriculture And Farm Equipment market due to the increasing investment in agricultural infrastructure and government initiatives to modernize farming practices. In Europe, the market is also expanding due to the rising demand for sustainable farming techniques and precision agriculture solutions.
The USA holds a significant market share in the Agriculture And Farm Equipment industry due to the presence of key players such as Deere & Company, CNH Industrial, and AGCO Corporation. China is emerging as a prominent market for agriculture and farm equipment, driven by the growing demand for food products and the development of mechanized farming practices.
Overall, the Agriculture And Farm Equipment market is witnessing robust growth worldwide, fueled by technological advancements, increasing demand for food production, and the need for efficient farming practices. This growth is expected to continue over the forecasted period, making the Agriculture And Farm Equipment industry a lucrative investment opportunity for market players.
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Market Segmentation:
This Agriculture And Farm Equipment Market is further classified into Overview, Deployment, Application, and Region.
In terms of Components, Agriculture And Farm Equipment Market is segmented into:
- AGCO Corp.
- CNH Industrial N.V.
- Iseki & Co., Ltd.
- Same Deutz-Fahr Group S.p.A. (SDF)
- J.C. Bamford Excavators Limited
- Kubota Corporation
- Mahindra & Mahindra Limited
- Deere & Company
- Horsch Maschinen GmbH
- Escorts Group
- Monosem (John Deere)
- Kongskilde
- Kivon RUS
- Valmont Industries, Inc.
- T.A.F.E. (Tractors & Farm Equipment Ltd.)
- Rostselmash
- Morris Industries Ltd.
- Maschio Gaspardo S.P.A.
- MaterMacc S.p.A.
- Lemken
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The Agriculture And Farm Equipment Market Analysis by types is segmented into:
- Tractors
- Harvesters
- Planting Equipment
- Irrigation & Crop Processing Equipment
- Spraying Equipment
- Hay & Forage Equipment
- Others
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The Agriculture And Farm Equipment Market Industry Research by Application is segmented into:
- Land Development & Seed Bed Preparation
- Sowing & Planting
- Weed Cultivation
- Plant Protection
- Harvesting & Threshing
- Post-Harvest & Agro Processing
In terms of Region, the Agriculture And Farm Equipment Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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Key Drivers and Barriers in the Agriculture And Farm Equipment Market
Key drivers in the Agriculture And Farm Equipment market include increasing population and the need for higher agricultural productivity, technological advancements in farming equipment, and government support for agriculture sector development. However, barriers include high cost of equipment, limited access to finance, and lack of awareness about modern farming techniques. Some of the challenges faced in the market include volatile commodity prices, unpredictable weather conditions, increasing competition among equipment manufacturers, and changing government regulations affecting agricultural practices. Additionally, the need for sustainable farming practices and environmental concerns are also important challenges faced by the agriculture and farm equipment market.
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Competitive Landscape
AGCO Corp. is a global leader in the design, manufacture, and distribution of agricultural equipment. The company was founded in 1990 and has since grown to become a major player in the industry. AGCO Corp. offers a wide range of products, including tractors, combines, and hay tools, under various brand names such as Massey Ferguson, Fendt, and Challenger.
CNH Industrial . is another key player in the agriculture and farm equipment market. The company was formed in 2013 through the merger of CNH Global and Fiat Industrial. CNH Industrial N.V. operates through various segments, including agriculture, construction, and commercial vehicles. The company's agricultural equipment brands include Case IH, New Holland, and Steyr.
Sales revenue for AGCO Corp. in 2020 was reported at approximately $9.1 billion, while CNH Industrial N.V. reported sales revenue of around $26.9 billion.
Kubota Corporation, a Japanese company founded in 1890, is known for its high-quality tractors and construction machinery. Kubota has a strong presence in the global agriculture equipment market, offering a wide range of products designed for efficiency and durability. The company reported sales revenue of approximately $19.3 billion in 2020.
Deere & Company, also known as John Deere, has a long history in the agriculture equipment market, dating back to its founding in 1837. John Deere is renowned for its innovative products, including tractors, harvesters, and sprayers. The company reported sales revenue of around $35.5 billion in 2020, solidifying its position as a leading player in the industry.
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