Farm Machinery And Equipment Market Trends That Will Shape the Next Decade: Insights from Focus On Electric Tractor For Sustainable Farming

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What Will the Farm Machinery And Equipment Industry Market Size Be by 2025?
The market for farm machinery and equipment has witnessed robust growth over recent years. The value of the market is set to increase from $221.3 billion in 2024, to a projected figure of $235.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. The historic growth trends in this market can be credited to factors such as the mechanization of agricultural practices, effects of the industrial revolution, population surge, rising demand for food, governmental assistance, and subsidies, as well as the boom in agriculture following wartime periods.

What's the Long-Term Growth Forecast for the Farm Machinery And Equipment Market Size Through 2029?
The anticipated expansion of the farm machinery and equipment market is projected to be robust, with a predicted value of $295.1 billion by 2029, and a compound annual growth rate (CAGR) of 5.8%. This predicted surge over the forecast period is largely due to the progress in precision agriculture, robotics and automation, IoT and data analytics, alongside sustainable farming methods and the introduction of electric and hybrid machinery. Influential trends during this period are expected to encompass blockchain traceability, the use of robotics in harvesting and planting, innovations in hydroponics and aeroponics technologies, multi-purpose tools, and remote surveillance and control.

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What Are the Key Growth Drivers Fueling the Farm Machinery And Equipment Market Expansion?
The application of Internet of Things (IoT) technologies in agricultural machinery is projected to stimulate the growth of the farm equipment market. The global population is estimated to exceed 9 billion by 2050, demanding a substantial increase in agricultural output within a shorter time span. This demands that farmers upgrade their tools and methodologies to meet the requirements of the steadily increasing population. For example, smart greenhouses fitted with IoT technologies facilitate climate regulation without human involvement. These IoT sensors in the smart greenhouses gather data related to light intensity, pressure, humidity, and temperature, and they can autonomously control actuators for window opening, light switching, heater controlling, misting, or fan operation. Consequently, IoT contributes to enhanced production efficiency with less manpower, propelling the growth of the farm machinery and equipment industry.

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What Are the Key Trends Driving Farm Machinery And Equipment Market Growth?
Development of technologically cutting-edge solutions like electric tractors is a core focus for prominent players in the farm machinery and equipment market. Electric tractors are replacing conventional tractors run by internal combustion engines, offering features such as lower emissions, cost-effectiveness and quieter operations - all embodied in a single vehicle designed for agricultural tasks. A concrete example of such innovation is the electric tractor e107 V Vario launched in October 2023 by Fendt, an agricultural machinery firm based in Germany. This electric tractor, designed to operate in diverse environments such as vineyards, orchards, greenhouses and urban locales, is powered by a 100kWh battery and boasts 90 horsepower. It can operate continuously for 4 to 7 hours and recharges quickly, from 20% to 80% in just 45 minutes. The e107 V Vario is also equipped with the FendtONE operating system and the Vario transmission by Fendt, and features three operating modes - Eco, Dynamic, and Dynamic+ - that cater to different power requirements.

How Is the Farm Machinery And Equipment Market Segmented?
The farm machinery and equipment market covered in this report is segmented -

1) By Type: Cultivator, Rotator, Chisel Plow, Harvester, Roller, Field Sprayer And Spreader, Irrigation System, Livestock Equipment, Tractors, Other Types
2) By Capacity: Small, Medium, Large
3) By Operation: Manual, Semi-Autonomous, Fully-Autonomous
4) By Application: Spraying, Water Supply And Conservation, Cultivation, Harvesting, Seeding, Weeding, Livestock Farming, Other Applications

Subsegments:
1) By Cultivator: Tine Cultivators, Disc Cultivators
2) By Rotator: Rotary Tillers, Rotary Hoes
3) By Chisel Plow: Rigid Frame Chisel Plows, Folding Chisel Plows
4) By Harvester: Combine Harvesters, Forage Harvesters, Grain Harvesters
5) By Roller: Land Rollers, Turf Rollers
6) By Field Sprayer And Spreader: Boom Sprayers, ATV Sprayers, Broadcast Spreaders
7) By Irrigation System: Drip Irrigation, Sprinkler Irrigation, Surface Irrigation
8) By Livestock Equipment: Feeding Equipment, Milking Machines, Fencing Equipment
9) By Tractors: Utility Tractors, Row Crop Tractors, Compact Tractors
10) By Other Types: Seeders and Planters, Tillage Equipment, Harvesting Accessories

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Which Companies Are Leading the Charge in Farm Machinery And Equipment Market Innovation?
Major companies operating in the farm machinery and equipment market include John Deere, AGCO Corporation, CNH Industrial, Kubota Corporation, Mahindra & Mahindra Ltd., CLAAS KGaA mbH, Yanmar Co., Ltd., Escorts Limited, Valmont Industries, Inc., Bucher Industries, Fendt, SAME Deutz-Fahr Group, Iseki & Co., Ltd., Kioti Tractor, JCB Limited, Massey Ferguson, Zetor Tractors a.s., New Holland Agriculture, McCormick Tractors International Ltd., V.S.T. Tillers Tractors Ltd., Argo Tractors S.p.A., Kuhn Group, Lindsay Corporation, TAFE - Tractors and Farm Equipment Limited, Vermeer Corporation, Alamo Group Inc., Krone Group, HORSCH Maschinen GmbH, Amazone H. Dreyer GmbH & Co. KG, Hardi International

Which Regions Are Leading the Global Farm Machinery And Equipment Market in Revenue?
Asia-Pacific was the largest region in the farm machinery and equipment market in 2024. North America was the second largest region in the global farm machinery and equipment market share. The regions covered in the farm machinery and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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