Farm Machinery And Equipment 2023 - By Size, Share Analysis, Growth Trends And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Farm Machinery And Equipment Global Market Report 2023 identifies integration of Internet of Things (IoT) applications in farm equipment as the major driver for the Farm Machinery And Equipment market's growth in the forecast period. The world's population will surpass 9 billion people by 2050. Farmers need access to better instruments and practices that will help them to deliver more agricultural products in less time. Farmers need to adopt new and modern technologies to produce food for the ever-expanding population.

The global farm machinery and equipment market size will grow from $216.1 billion in 2022 to $232.61 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global farm machinery and equipment is expected to grow to $303.75 billion in 2027 at a CAGR of 6.9%.

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Major competitors in the Farm Machinery And Equipment market are GCO Corporation, CLAAS KGaA mbH, CNH Industrial N.V, Escorts Group, ISEKI & Co. Ltd.

A key trend in the Farm Machinery And Equipment market includes eco-friendly electric tractors. Eco-friendly tractors operate through electronic batteries that can be recharged simply by plugging them into a standard socket and don't require any kind of fuel that creates air pollution. There are also many tractors where farmers can install wind or solar power to produce electricity to charge the tractor's batteries. For instance, in India, in March 2020, a startup company Celestial E-Mobility launched an electric tractor, which is not only eco-friendly and cost-effective but also gives the same power as that of its diesel counterpart and is available cheaper than diesel tractors. The zero-emission tractor features battery swapping, and regenerative braking, and also helps to power an UPS.

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The Farm Machinery And Equipment market is segmented -

• By Type: Cultivator, Rotator, Chisel Plow, Harvester, Roller, Field Sprayer And Spreader, Irrigation System, Livestock equipment, Tractors, Other Types
• By Capacity: Small, Medium, Large
• By Operation: Manual, Semi-Autonomous, Fully-Autonomous
• By Application: Spraying, Water Supply And Conservation, Cultivation, Harvesting, Seeding, Weeding, Livestock Farming, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Farm Machinery And Equipment market.

The Business Research Company's "Global Farm Machinery And Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Farm Machinery And Equipment Market Include:

1. Farm Machinery And Equipment Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
………………………….
20. Global Farm Machinery And Equipment Market Competitive Landscape
21. Key Mergers And Acquisitions In The Agricultural Implement Market
22. Farm Machinery And Equipment Market Opportunities And Strategies
23. Farm Machinery And Equipment Market, Conclusions And Recommendations
24. Appendix

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