Global Agriculture Equipment Market Report and Forecast 2024-2032

Global Agriculture Equipment Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the global agriculture equipment market size reached a value of USD 102 billion in 2023. Aided by the burgeoning demand for increased agricultural productivity and the advent of precision farming, the market is projected to further grow at a CAGR of 4.50% between 2024 and 2032 to reach a value of USD 152 billion by 2032.

Agriculture equipment encompasses a broad spectrum of machinery and tools designed to optimise agricultural processes, including planting, irrigation, harvesting, and crop processing. The sector's growth is significantly influenced by the increasing need for efficient farming solutions, government support for agricultural mechanisation, and the integration of IoT and AI technologies in farming operations.

A pivotal driver for the global agriculture equipment market growth is the rapid pace of technological innovation, particularly the adoption of precision farming techniques. Precision farming involves the use of GPS, IoT devices, drones, and AI to monitor crop health, soil conditions, and weather patterns to make informed decisions that optimise resource use and increase crop yields. This technology-driven approach not only enhances efficiency but also supports sustainable farming practices by reducing waste and minimising environmental impact.

As per the agriculture equipment market analysis, government policies and financial incentives play a crucial role in fostering market growth. Many governments worldwide offer subsidies, loans, and grants to encourage farmers to invest in modern agricultural equipment. Such initiatives aim to improve productivity, ensure food security, and make farming more sustainable and profitable for farmers. These supportive measures are particularly impactful in developing countries, where agriculture is a significant part of the economy.

The growing need for mechanisation in developing countries is another key factor driving agriculture equipment market expansion. As labour costs rise and the availability of agricultural labour declines, there is an increasing reliance on machinery to perform agricultural tasks. Mechanisation helps in addressing labour shortages, reducing the time and effort required for farming operations, and increasing the scale and efficiency of agricultural production.

Sustainability trends are shaping the development of agriculture equipment, with a growing emphasis on eco-friendly and energy-efficient machinery. Manufacturers are innovating to produce equipment that uses alternative fuels, reduces emissions, and minimises soil compaction. The demand for such equipment is rising as farmers and agricultural enterprises aim to meet environmental regulations and adopt more sustainable farming practices.

The global market exhibits significant regional variations. Asia-Pacific, led by countries such as India and China, holds significant agriculture equipment market share, due to the large agricultural sector and increasing adoption of mechanisation. North America and Europe are also key markets, characterized by high adoption rates of precision farming technologies and strong government support for agricultural innovation. Meanwhile, regions like Africa and Latin America present growth opportunities, driven by the need to modernize agriculture and improve productivity.

As per the agriculture equipment market outlook, the competitive landscape of the market is diverse, featuring a mix of global giants and regional players. Competition is fuelled by technological advancements, brand reputation, and after-sales services, with companies increasingly focusing on digital solutions and connectivity to enhance the functionality and efficiency of their equipment.

The global market is set for sustained growth, driven by continuous technological advancements, increasing demand for food, and the need for sustainable farming practices. The integration of AI and IoT technologies into agriculture equipment is expected to open new avenues for innovation, enabling more precise and efficient farming operations. As the sector evolves, the focus on sustainability, coupled with governmental support and advancements in technology, will be pivotal in shaping the future of agriculture, ensuring food security, and fostering the growth of the agriculture equipment market.

Market Segmentation

The market can be divided based on product, automation, application, sales channel, and region.

Market Breakup by Product
  • Tractors
  • Harvesters
  • Planting Equipment
  • Irrigation and Crop Processing
  • Spraying Equipment
  • Hay and Forage Equipment
  • Others
Market Breakup by Automation
  • Manual
  • Semi-Automatic
  • Automatic
Market Breakup by Application
  • Land Development and Seed Bed Preparation
  • Sowing and Planting
  • Weed Cultivation
  • Harvesting and Threshing
  • Plant Protection
  • Post-Harvest and Agro-Processing
Market Breakup by Sales Channel
  • OEMs
  • Aftermarket
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global agriculture equipment market. Some of the major players explored in the report by Expert Market Research are as follows:
  • AGCO Corporation
  • Kubota Corp.
  • Deere & Company
  • CNH Industrial N.V.
  • SDF S.p.A.
  • AMAZONEN-WERKE H. DREYER SE & Co. KG
  • Horsch Maschinen GmbH
  • China National Machinery Industry Corporation (Sinomach)
  • ISEKI & Co., Ltd.
  • Mahindra & Mahindra Ltd.
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Agriculture Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Agriculture Equipment Historical Market (2018-2023)
8.3 Global Agriculture Equipment Market Forecast (2024-2032)
8.4 Global Agriculture Equipment Market by Product
8.4.1 Tractors
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Harvesters
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Planting Equipment
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Irrigation and Crop Processing
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Spraying Equipment
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Hay and Forage Equipment
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Agriculture Equipment Market by Automation
8.5.1 Manual
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Semi-Automatic
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Automatic
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Agriculture Equipment Market by Application
8.6.1 Land Development and Seed Bed Preparation
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Sowing and Planting
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Weed Cultivation
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Harvesting and Threshing
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Plant Protection
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Post-Harvest and Agro-Processing
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.7 Global Agriculture Equipment Market by Sales Channel
8.7.1 OEMs
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Aftermarket
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Agriculture Equipment Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Agriculture Equipment Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Agriculture Equipment Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Agriculture Equipment Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Agriculture Equipment Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Agriculture Equipment Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 8432)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 AGCO Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Kubota Corp.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Deere & Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 CNH Industrial N.V.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 SDF S.p.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 AMAZONEN-WERKE H. DREYER SE & Co. KG
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Horsch Maschinen GmbH
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 China National Machinery Industry Corporation (Sinomach)
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 ISEKI & Co., Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Mahindra & Mahindra Ltd.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Agriculture Equipment Market: Key Industry Highlights, 2018 and 2032
2. Global Agriculture Equipment Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Agriculture Equipment Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Agriculture Equipment Historical Market: Breakup by Automation (USD Billion), 2018-2023
5. Global Agriculture Equipment Market Forecast: Breakup by Automation (USD Billion), 2024-2032
6. Global Agriculture Equipment Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Agriculture Equipment Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Agriculture Equipment Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
9. Global Agriculture Equipment Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
10. Global Agriculture Equipment Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Agriculture Equipment Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Agriculture Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Agriculture Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Agriculture Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Agriculture Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Agriculture Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Agriculture Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Agriculture Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Agriculture Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Agriculture Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Agriculture Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Agriculture Equipment Market Structure

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