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Global Agricultural Implement Market: Manifesting Robust Growth with Rising Demand for Food Crops, CAGR of 5.8%, and Emerging Trends in Automation
Agricultural Implement Market Size
What Is The Projected Market Size Of The Global Agricultural Implement Market And Its Growth Rate?
• The agricultural implement market size has been experiencing robust growth. From $255.13 billion in 2024, it projected to touch $271.68 billion in 2025, growing at a CAGR of 6.5%.
• In the recent past, market growth was fueled by migration, population growth, and economic growth.
• It is expected that the agricultural implement market will continue to grow strongly in the upcoming years, reaching $340.13 billion by 2029 at a CAGR of 5.8%.
• Factors contributing to future growth include favorable government policies, advances in agricultural technology, availability of agriculture finance, and increasing awareness.
What Is Driving The Growth In The Agricultural Implement Market?
Rising demand for food crops is anticipated to fuel the growth of the agricultural implement market. Agricultural implements, consisting of various tools and machinery, play a significant role in different phases of food crop production. They help enhance efficiency, reduce labor, and boost overall agricultural productivity. A report from the Food and Agriculture Organization (FAO) in December 2022 underlined a 2% increase in global production of primary crop commodities, reaching 9.5 billion metric tons in 2021. Therefore, this escalating demand for food crops is expected to drive forward the agricultural implement market.
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Who Are the Key Players Driving Agricultural Implement Market Growth?
Major companies operating in the agricultural implement market include:
• Deere & Company
• CNH Industrial N.V.
• AGCO Corporation
• Kubota Corporation
• CLAAS KGaA mbH
• China National Machinery Industry Corporation (Sinomach)
• Mahindra Group
• Iseki & Co., Ltd.
• SDF Group
• Escorts Limited
• Tractors and Farm Equipment Limited (TAFE)
• Sonalika Group.
What Are The Key Trends In The Agricultural Implement Market?
Key emerging trends:
• Development of autonomous farm equipment
• Offering of telematics technology
• Introduction of robotic lawnmowers
• Provision of robotic milking systems.
What Are The Segments Of The Global Agricultural Implement Market?
The agricultural implement market is segmented by:
• Type: Farm Machinery And Equipment, Lawn And Garden Tractor And Home Lawn And Garden Equipment.
• Operation: Autonomous, Semi-autonmous, Manual.
• Capacity: Small, Medium, Large.
• Application: Land Development And Seed Bed Preparation, Sowing And Planting, Weed Management, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro Processing.
Which Region Leads The Agricultural Implement Market?
Asia-Pacific held the largest market share in the agricultural implement market in 2024, followed by North America. The regions in focus for the agricultural implement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The Agricultural Implement Market Global Market Report?
The Agricultural Implement Market Global Market Report analyses the market size by key regions, countries, product types, and applications. It identifies various subsegments within the Agricultural Implement Market for effective categorization, and focuses on key players to define their market value, share, and competitive landscape. The report also examines individual growth trends and prospects in the Market, evaluates contributions of different segments to the overall Market growth, and details key factors influencing market growth, including opportunities and drivers. Industry challenges and risks affecting the Market are analyzed and competitive developments, such as expansions, agreements, and new product launches in the market are studied.
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