Top Market Shifts Transforming the Agriculture And Farm Equipment/Machinery Market Landscape: Key Insights

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What Is the Expected CAGR for the Agriculture And Farm Equipment/Machinery Market Through 2025?
The size of the agriculture and farm equipment/machinery market has witnessed significant growth in recent years. The market value, projected to increase from $183.25 billion in 2024 to $193.84 billion in 2025, is set to grow at a compound annual growth rate of 5.8%. This strong growth during the past periods can be credited to factors like education and investigation, infrastructure growth, the industrialization of agricultural processes, advancements in the field of crop science, and a shortage of rural labor.

What's the Projected Size of the Global Agriculture And Farm Equipment/Machinery Market by 2029?
In the coming years, a sturdy growth is anticipated in the agriculture and farm equipment/machinery market size, which is projected to reach $248.85 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%. This expansion during the forecast period can be credited to factors such as increased global food demand, adoption of mechanization and automation, implementation of smart farming methods, initiatives towards sustainable agriculture, and the application of precision agriculture. During the forecast period, principal trends observed are agreements and amalgamation, scarcity of labor and efficiency, tailor-made and adaptable farming methods, acclimatization to climate change, and the usage of IoT sensors.

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Top Growth Drivers in the Agriculture And Farm Equipment/Machinery Industry: What's Accelerating the Market?
The accelerated growth of the population is contributing to the expansion of the farm and agricultural equipment/machinery sector. The term population growth is used to describe the upswing in the number of individuals in a certain area over a specific timeframe. The productivity of farms can be enhanced through mechanization. As the population burgeons, so will the demand for food. In order to satisfy this augmenting food demand and cater to the larger population, the intensification of agricultural mechanization will become increasingly important, thereby fueling the growth of the farm and agricultural equipment/machinery industry. For instance, The United Nations, an intergovernmental organization based in the US, predicts that the global population will rise by 2 billion people in the coming 30 years, reaching 9.7 billion by 2050. Consequently, the swift population growth is anticipated to stimulate the farm and agricultural equipment/machinery market.

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What Trends Will Shape the Agriculture And Farm Equipment/Machinery Market Through 2029 and Beyond?
The rise of technology is a significant trend emerging in the agricultural and farm machinery/equipment sector. Leading companies in this sector are embracing innovative technologies like the introduction of the Unnati drone spray service, designed specifically for farmers using drone technology and artificial intelligence (AI) for farming. To illustrate, in May 2022, Unnati, an agricultural platform fueled by fintech, based in India, unveiled a drone spray service targeting farmers. The service's striking feature is the deployment of multiple drones. These drones can distribute water, insecticides, and fertilizers over an acre of land in less than eight minutes, conserving up to 95% of water. They are fitted with an extremely precise spray and come with features like 'Return to Launch' and geofencing. Leveraging AI, these drones aim to safely maximize the use of a spray system and prevent chemical exposure to farmers' cardiovascular systems.

What Are the Main Segments in the Agriculture And Farm Equipment/Machinery Market?
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

Subsegments:
1) By Tractors: Utility Tractors, Row Crop Tractors, Orchard Tractors
2) By Rotavators: Conventional Rotavators, Mini Rotavators
3) By Threshers And Dehuskers: Manual Threshers, Mechanical Threshers, Dehusking Machines
4) By Power Tillers: Mini Power Tillers, Heavy-Duty Power Tillers
5) By Power Weeder: Walk-Behind Weeders, Ride-On Weeders
6) By Plough: Moldboard Ploughs, Disc Ploughs, Chisel Ploughs
7) By Baler: Round Balers, Square Balers
8) By Seed Drill: Manual Seed Drills, Mechanized Seed Drills

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Which Top Companies are Driving Growth in the Agriculture And Farm Equipment/Machinery Market?
Major companies operating in the agriculture and farm equipment/machinery market 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

Which Regions Will Dominate the Agriculture And Farm Equipment/Machinery Market Through 2029?
Asia-Pacific was the largest region in the agriculture and farm equipment/machinery market share in 2024. The regions covered in the agriculture and farm equipment/machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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