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Powered Agriculture Equipment Market Growth to be Driven by Emerging Trends | $146.36 Billion by 2029
Powered Agriculture Equipment Market
What is the Projected Market Size of the Powered Agriculture Equipment Industry?
The market size for powered agriculture equipment has seen considerable growth in the past few years. The market, valued at $102.06 billion in 2024, is predicted to soar to $108.29 billion in 2025, registering a compound annual growth rate (CAGR) of 6.1%. Factors contributing to the significant growth observed during the historic period were the escalating demand for food due to population growth, technological innovation enabling more efficient farming practices, increased usage of precision agriculture techniques, growing demand for biofuels, and stepped-up government support for the agricultural sector.
What Will Be the Size of the Powered Agriculture Equipment Market by 2029?
It is predicted that the powered agriculture equipment market will enjoy robust growth in the upcoming years, with its value expected to reach $146.36 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.8%. The projected growth within the forecasted period can be ascribed to the rising demand for organic and sustainable farming methods, the growing acceptance of self-operating and robotic farming tools, the increasing requirements for precision irrigation systems, the expanding focus on diminishing agricultural carbon emissions, and the escalating need for intelligent farming solutions. Significant trends anticipated within this period comprise the creation of electrified and self-operating farming machinery, the incorporation of Internet of Things (IoT) in farm machinery, the implementation of sophisticated sensors for real-time tracking, the customization of tools for precision farming, and the utilization of drone technology for overseeing crops and management.
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What Are the Key Drivers Accelerating Growth in the Powered Agriculture Equipment Market?
The soaring need for organic food is anticipated to fuel the expansion of the powered agriculture equipment market in the future. Organic food is defined as food that has been grown on terrain free of forbidden substances for at least three years before being harvested. This rampant surge in organic food is predicted to push the need for powered agricultural equipment, as commercial farmers are spending on sophisticated machinery to cut down on their operational costs and amplify profits. The United States Department of Agriculture, an executive department at the federal level in the US that is in charge of creating and enforcing regulations related to agriculture, noted that organic products can be found in approximately 20,000 natural food outlets and in almost 3 out of 4 regular stores throughout the US. Hence, the persistent growth in organic food demand is likely to stimulate the necessity for powered agriculture equipment throughout the forecast period.
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How Is the Powered Agriculture Equipment Market Segmented by Type, Application, and Region?
The powered agriculture equipment market covered in this report is segmented -
1) By Product Type: Tractors, Combine Harvester, Sprayer, Soil Preparation And Cultivation Equipment, Seed Drill, Other Product Types
2) By Propulsion: Battery Electric, Hybrid Electric
3) By Power Output: 250 HP
4) By Application: Harvesting, Sowing and Planting, Spraying and Fertilizing, Other Applications
Subsegments:
1) By Tractors: Utility Tractors, Row Crop Tractors, Compact Tractors
2) By Combine Harvester: Conventional Combine Harvesters, Self-Propelled Combine Harvesters, Header Attachments
3) By Sprayer: Crop Sprayers, Aerial Sprayers, Handheld Sprayers
4) By Soil Preparation And Cultivation Equipment: Plows, Harrows, Tillers
5) By Seed Drill: Mechanical Seed Drills, Pneumatic Seed Drills
6) By Other Product Types: Irrigation Equipment, Fertilizer Spreaders, Bale Wrappers
What Are the Key Trends Driving Growth in the Powered Agriculture Equipment Market?
One of the major trends emerging in the powered agriculture equipment market is product innovation. Several companies within this market are creating novel products to boost both crop productivity and household income. For example, in January 2022, John Deere, an American agricultural machinery manufacturer, unveiled a fully autonomous tractor at a media event during CES 2022. This tractor is purposed for global feeding initiatives and is kitted out with six stereo cameras for full-circle obstacle identification and distance calculation.
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Who Are the Leading Companies Driving Growth in the Powered Agriculture Equipment Market?
Major companies operating in the powered agriculture equipment market include AGCO Corporation, Deere & Company, Mahindra & Mahindra Limited, CNH Industrial NV, Kubota Corporation, CLAAS Group, Krone Group, J. C. Bamford Excavators Limited, Yanmar Co Ltd., Same Deutz-Fahr Group, Escorts Limited, Zetor Tractors, Daedong Industrial Company, Argo Tractors SpA, Tractors and Farm Equipment Limited, LS Tractor USA LLC, Iseki & Co. Ltd., Carraro Group, Lely Group, Sampo Rosenlew Ltd., Bucher Industries AG, Rostselmash Ltd., Shifeng Group, Tym Tractors, Kverneland Group, Kukje Machinery Co. Ltd., Art's Way Manufacturing Co. Inc., New Holland Agriculture, Kuhn Group
Which Is the Leading Region in the Global Powered Agriculture Equipment Market?
Asia-Pacific was the largest region in the powered agriculture equipment market in 2024. The regions covered in the powered agriculture equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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