Agriculture And Farm Equipment/Machinery Market Report: Size, Trends, Competitive Analysis, Types, Applications And Outlook

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Agriculture And Farm Equipment/Machinery Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The agriculture and farm equipment/machinery market size has grown strongly in recent years. It will grow from $174.12 billion in 2023 to $184.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to education and research, infrastructure development, industrialization of agriculture, advancements in crop science, rural labor scarcity..

The agriculture and farm equipment/machinery market size is expected to see strong growth in the next few years. It will grow to $233.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising global food demand, mechanization and automation, smart farming solutions, sustainable agriculture initiatives, precision agriculture adoption.. Major trends in the forecast period include collaboration and integration, labor scarcity and efficiency, customization and adaptability, climate change adaptation, adoption of iot sensors..

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Key Market Players:
Major companies operating in the agriculture and farm equipment/machinery market report are Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited, Kubota Corporation, CNH Industrial N.V., Escorts Kubota Limited, AGROSTROJ Pelhrimov a.s., China National Machinery Industry Corporation, J.C. Bamford Excavators Limited, SDF Group, Agromaster, Iseki & Co. Ltd., Exel Industries, CLAAS Group, Bucher Industries AG, Yanmar Co.Ltd., Kverneland Group, The Kuhn Group, Farmtrac Tractors Europe sp. z o.o., JOST Werke AG, Pöttinger Landtechnik GmbH, SAME DEUTZ-FAHR Italia S.p.A., McCormick Tractors International Limited, Tractors and Farm Equipment Limited, New Holland Agriculture, Case IH, Massey Ferguson Limited, Valtra, GRIMME Landmaschinenfabrik GmbH & Co. KG, Lemkem

Market Drivers:
A rapidly growing population is driving the growth of the agriculture and farm equipment/machinery market going forward. Population growth refers to the increase in the number of people at a particular place during a given period. The mechanization of farms increases their productivity. The rising population will cause an increase in the demand for food, therefore to meet this increased food demand and feed the growing population increasing the mechanization of agriculture will become crucial thereby driving the agriculture and farm equipment/machinery market. For instance, according to The United Nations a US-based intergovernmental organization, the global population is expected to increase by 2 billion persons in the next 30 years, i.e.,9.7 billion in 2050. Therefore, the rapidly growing population is expected to propel the agriculture and farm equipment/machinery market.

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The agriculture and farm equipment/machinery market covered in this report is segmented -
1) By Product Type: Tractors, Rotavators, Threshers And Dehuskers, Power Tillers, Power Weeder, Plough, Baler, Seed Drill
2) By Ownership: Individual, Rental
3) By Application: Land Development And Seed Bed Preparation, Sowing And Planting, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro-Processing

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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