Agriculture Equipment Market | Analysis 2019-2031

Agriculture Equipment Market Introduction

In today dynamic world, modernization in the agriculture industry is increasing rapidly. With the introduction of advanced technologies including robotics, sensors, connected devices, machinery, and communication solutions agricultural operations have been automated to a large extent. Currently, modernized farms are increasingly utilizing sophisticated technologies such as aerial imaging, GPS, temperature and moisture sensors, and other precision agriculture systems that allow end users to be efficient, safer, more profitable and environment friendly. Also, the rising global population and food demand across the globe is likely to increase demand for agriculture equipment to a large extent, thereby presenting opportunities for major companies operating in the global agriculture equipment market.

Market Dynamics

Rising adoption of mechanized agricultural equipment and growing spending of farmers on autonomous technologies to enhance farm yield to meet the mounting demand for food across the globe is anticipated to drive the growth of the global agriculture equipment market. Further, increasing inclination of framers to replace traditional techniques and equipment with mechanized and automated farm machinery and equipment. Various agriculture processes such as tillage, sowing, and seeding are being performed using autonomous tractors and technologically advanced planting equipment. This is projected to fuel the growth of the global agriculture equipment market during the forecast period worldwide. However, the high initial cost associated with the purchase of agriculture equipment and machinery is hampering the growth of the market. Additionally, the presence of local manufacturers offering low-cost equipment and devices is expected to create a challenge for international brands operating in the agriculture equipment industry.

Market Scope

The global agriculture equipment market has been analyzed based on various segments such as equipment type, application, and region. On the basis of equipment type, the market is classified into tractors, harvesters, irrigation equipment, spraying equipment, hay and forage equipment, planting equipment, and other equipment. The planting equipment segment is further sub-segmented into planter, air seeder, seed drill, and other planting equipment. The global agriculture equipment market has been categorized based on application into land development, sowing & planting, cultivation, plant protection, harvesting and threshing, post-harvest and Agro processes.

Key geographies covered in the global agriculture equipment industry report are Asia Pacific, North America, Western Europe, Eastern Europe, Latin America, and Middle East & Africa. Asia Pacific is projected to become the dominant regional market by the end of 2024 and is expected to witness the highest CAGR during the forecast period. Major emerging countries such as China and India are experiencing key economic growth and the introduction of favorable agricultural policies. This, in turn, is increasing uptake of advanced agriculture equipment in the region.

Agriculture Equipment Market Competitive Landscape

Some of the major players operating in the global agriculture equipment market are AGCO Corporation, John Deere (Deere & Company), Agrocenter Ltd., Amazone Ltd., Kivon RUS, Agromaster, APV – Technische Produkte GmbH, Klever, CLAAS KGaA mbH, Bellota, CNH Industrial N.V., Escorts Group, ISEKI & Co., Ltd., and Horsch Maschinen GmbH. These prominent players are constantly investing substantial amount and time on research and development activities to introduce intelligent and advanced equipment and solutions for end users operating in the agriculture industry. This helps these companies to remain ahead in such a competitive environment.

Major Regions/Countries include:

• North America
  • United States
  • Canada

• Western Europe
  • Germany
  • United Kingdom
  • Spain
  • France
  • Italy
  • Rest of Western Europe

• Eastern Europe
  • Russia
  • Poland
  • Rest of Eastern Europe

• Asia Pacific (APAC)
  • Japan
  • China
  • India
  • ASEAN
  • Australia
  • Rest of Asia-Pacific

• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

• Middle East and Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of MEA

This research report on agriculture equipment market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.