Agriculture Equipment Market to Witness Robust Growth by 2028

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As per the study, the market size was estimated at US$ 149.84 Billion in 2021 and is likely to grow at a CAGR of 6.1% during the forecast period of 2022-2028 to reach US$ 226.79 Billion in 2028.

Stratview Research has published a new report titled “Agriculture Equipment Market” which is segmented by Product Type (Farm Tractor {by Product [Sub-compact Utility Tractor, Compact Utility Tractor, and Specialty Tractor], by Horse Power [ 30 HP, 30-100 HP, 101-200 HP, and 200 HP]}, Harvesting Machinery {Combine Harvester, Forage Harvester, Thresher, and Reaper}, Plowing Cultivation Machinery {Ploughs, Harrows, and Cultivators Tillers}, Planting Fertilizing Machinery {Seed Drills, Planters, Spreaders, and Sprayers}, Haying Machinery {Balers, Mowers-Conditioners, and Tedders Rakes} and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

As per the study, the market size was estimated at US$ 149.84 Billion in 2021 and is likely to grow at a CAGR of 6.1% during the forecast period of 2022-2028 to reach US$ 226.79 Billion in 2028.

Agriculture equipment is machines and systems used to efficiently handle all kinds of farming, agriculture, and operational needs. It can be broadly categorized based on product type into farm tractors, harvesting machinery, plowing cultivation machinery, planting fertilizing machinery, haying machinery, and others.


Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis -

By Product Type

The Farm Tractors segment dominated the market with a more than 29% revenue share in 2021.

The market is segmented into farm tractors, harvesting machinery, plowing cultivation machinery, planting fertilizing machinery, haying machinery, and others. 

Farm tractors are further segmented by product type into sub-compact utility tractors, compact utility tractors, and specialty tractors. Further, based on horsepower; farm tractors are segmented into 30 HP, 30-100 HP, 101-200 HP, and 200 HP.

Which Region is expected to remain the largest market?

Asia-Pacific is estimated to be the largest market for agriculture equipment during the forecast period.

Significant economic development in the region, growing disposable income of consumers, and a huge consumer base are the major features of the Asia-Pacific market. Rising demand for processed and packaged food, changing lifestyles, and a surge in demand for meat products are the major factors driving the growth of the Asia-Pacific region in the agriculture equipment market.

North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Who are the Key Players in the Market?

This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Agriculture Equipment Market:

  • AGCO Corporation
  • Alamo Group Inc.
  • Amazonen-Werke H. Dreyer GmbH Company KG
  • ARGO SpA
  • Bucher Industries AG
  • Changzhou Dongfeng Agricultural Machinery Group Company Limited
  • China National Machinery Industry Corporation
  • CLAAS KGaA mbH
  • CNH Industrial NV
  • Deere Company
  • Escorts Limited
  • Iseki Co. Ltd.
  • J C Bamford Excavators Ltd. (JCB)
  • Kubota Corporation
  • Mahindra Mahindra Limited
  • Same Deutz-Fahr Group S.p.A. (SDF)
  • Valmont Industries Inc.
  • Yanmar Co. Ltd.
  • Zetor Tractors A.S.

Key questions answered by the report

  • What is the projected CAGR for revenue from the Agriculture Equipment Market during the forecast period?
  • What would the market be valued at by 2028?
  • What is a major driving factor for the growth of the market?
  • Which region accounted for the largest revenue share in the Agriculture Equipment Market?
  • Which are the major market players?

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