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Agriculture & Farm Equipment Market worth $162.34 billion by 2030, growing at a CAGR of 5.65% - Exclusive Report by 360iResearch
Agriculture & Farm Equipment Market | 360iResearch
The Global Agriculture & Farm Equipment Market to grow from USD 110.47 billion in 2023 to USD 162.34 billion by 2030, at a CAGR of 5.65%.
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Agriculture and farm equipment encompasses a wide range of machinery and tools used in farming, including tractors, plows, harrows, combine harvesters, and various specialized equipment designed for crop cultivation and livestock management. This equipment has a crucial role in agricultural operations by enhancing efficiency, improving yields, and reducing manual labor. The primary drivers of the agriculture and farm equipment market include the increasing global demand for food owing to population growth and urbanization. Advances in technology resulting in the development of more efficient and productive machinery and governmental support through subsidies and incentives for farmers to adopt modern agricultural practices also significantly contribute to market growth. However, the market faces several challenges, such as the high initial investments required for advanced machinery, which can be a barrier for small and medium-sized farmers. Despite these challenges, significant opportunities exist within the market, primarily due to ongoing technological advancements. The rise of precision agriculture, the integration of AI and robotics, and the development of electric and autonomous farm vehicles are opening new avenues for growth.
In the Americas, particularly in North America, the Agriculture and Farm Equipment market is experiencing robust growth. Driven by innovation in farming technologies and a strong emphasis on precision farming, North American countries are investing heavily in equipment that offers higher efficiency and productivity. South America, with Brazil and Argentina at the forefront, is seeing a rise in the adoption of mechanized farming, buoyed by the growing demand for their farm products exports. In Europe, strict regulations regarding emissions and an increasing focus on sustainable farming practices are shaping equipment purchases, with a significant uptick in demand for electric and hybrid models. The Middle East and Africa, despite being slower in adopting the latest farming technologies compared to Europe, are gradually recognizing the importance of modernizing their agricultural sectors to ensure food security. Investments in irrigation systems and tractors are notably increasing, especially in East Africa and parts of the GCC countries. The APAC region is a rapidly growing market for agriculture and farm equipment, with a massive rural populace engaging in farming and the urgent need for mechanization owing to labor shortages. Government initiatives in these countries to support farmers in acquiring farm machinery are significantly propelling the market forward. Additionally, Southeast Asian countries are also embracing agricultural mechanization to increase productivity and reduce post-harvest losses.
Market Segmentation & Coverage:
This research report categorizes the Agriculture & Farm Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Equipment Type, market is studied across Baler, Plough, Power Tillers, Power Weeder, Seed Drill, Threshers & Dehuskers, and Tractors. The Threshers & Dehuskers is projected to witness significant market share during forecast period.
Based on Automation, market is studied across Automatic and Manual. The Automatic is projected to witness significant market share during forecast period.
Based on Propulsion, market is studied across Electric and ICE. The ICE is projected to witness significant market share during forecast period.
Based on Function, market is studied across Harvesting & Threshing, Plant Protection & Fertilizing, Plowing & Cultivating, and Sowing & Planting. The Plant Protection & Fertilizing is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.12% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Agriculture & Farm Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Agriculture & Farm Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Agriculture & Farm Equipment Market, highlighting leading vendors and their innovative profiles. These include Agco Corporation, AgroChem Inc., Agrostroj Pelhřimov, a.s., ASPEE Agro Equipment Pvt Ltd, Boston Crop Sprayers, Bucher Industries AG, China National Machinery Industry Corporation, CNH Industrial N.V., Deere & Company, Dura Products, Inc., Enduraplas, EXEL Industries SA, Greenleaf Technologies, GUSS, GVM Incorporated, H&H Farm Machine Co., Hardi International A/S, Hockley International Limited, J C Bamford Excavators Ltd., Jacto, Kubota Corporation, Kverneland Group, Lemken GmbH & Co. KG, Lundell Plastics Corp., Magnation Water Technologies, Mahindra & Mahindra Ltd., MS Gregson, Osborne Industries, Inc., Robinson Industries, Inc., SDF S.p.A., ShelterLogic Group, SZ DJI Technology Co., Ltd., Team Sprayers Ltd., and Yamaha Motor Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Agriculture & Farm Equipment Market, by Equipment Type
7. Agriculture & Farm Equipment Market, by Automation
8. Agriculture & Farm Equipment Market, by Propulsion
9. Agriculture & Farm Equipment Market, by Function
10. Americas Agriculture & Farm Equipment Market
11. Asia-Pacific Agriculture & Farm Equipment Market
12. Europe, Middle East & Africa Agriculture & Farm Equipment Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Agriculture & Farm Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Agriculture & Farm Equipment Market?
3. What is the competitive strategic window for opportunities in the Agriculture & Farm Equipment Market?
4. What are the technology trends and regulatory frameworks in the Agriculture & Farm Equipment Market?
5. What is the market share of the leading vendors in the Agriculture & Farm Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Agriculture & Farm Equipment Market?
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