Agriculture And Farm Equipment Market Projected to Hit USD 111.17 Billion at a 4.70% CAGR by 2032 | PMR

Agriculture And Farm Equipment Market size was valued at USD 73.72 billion in 2023. The agriculture and farm equipment industry is projected to grow to USD 111.17 billion by 2032, exhibiting a compound a Annual growth rate (CAGR) of 4.70% during the forecast period (2024 - 2032).

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Market Definition:

Farm equipment is any machinery used in farming or agriculture. Tractors, mower conditioners, harvesting equipment, tillage equipment, and other agricultural implements are only a few of the various types of farm equipment. The high expense of maintaining new agricultural equipment and its substantial initial investment makes farm equipment rental services more necessary. By using rental services, farmers can make a small profit by deducting the cost of maintaining their farm equipment. By renting the equipment, farmers may harvest their crops on time without having to make big down payments for heavy machinery.

Key Players:

In this extremely competitive industry, major rivals constantly innovate and differentiate their products in an effort to take the lead in the market.

Here is the list of the leading companies operating in the agriculture and farm equipment market:

• Deere & Company
• CNH Industrial NV
• AGCO Corporation
• Kuhn Group
• Krushi Chang Harvesters
• Morris Equipment Ltd.
• Tractors & Farm Equipment Limited
• Valmont Industries Inc.
• Mahindra & Mahindra Ltd.
• Tractor and Farm Equipment Limited (TAFE)
• Excel Industries
• Krone UK Group
• Kubota Corporation
• SDF S.p.A

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/66/2

Segmentation Overview:

The agriculture and farm equipment market is mainly segmented based on type, automation, end users, and region. Based on the type analysis, the harvester section is expected to have the fastest CAGR over the projection period. One of the primary factors for market expansion is the growing demand for efficient harvesting devices that can reduce labor and time spent harvesting.

Furthermore, according to an automation analysis, the semi-automatic equipment category is expected to dominate the market over the forecast period. The growing emphasis on farm mechanization, as well as the demand for increased production and efficiency in agriculture, have all contributed to the expansion of the semi-automatic equipment category.

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Growth Drivers and Opportunities:

● As developing countries' populations rise and cities expand, there is a greater need for efficient and sustainable agriculture practices to meet rising food demand.

● The growing need for agricultural mechanization in developing nations, the expansion of farm loan waiver schemes, and favorable government regulations are projected to drive the market over the projection period.

Geographical Landscape:

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