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

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What Is the Expected CAGR for the Farm Machinery And Equipment Market Through 2025?
The size of the farm machinery and equipment market has significantly increased in the last few years. The market is projected to expand from $223.98 billion in 2024 to $235.59 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.2%. The substantial growth experienced in the past can be credited to factors such as the mechanization of agriculture, the influence of the industrial revolution, the rise in population and associated food demand, governmental aid and subsidies, and the post-war upswing in agriculture.

What's the Projected Size of the Global Farm Machinery And Equipment Market by 2029?
The market size for farm machinery and equipment is projected to witness robust expansion in the foroming years, elevating to $293.92 billion by 2029 while growing at a compound annual growth rate (CAGR) of 5.7%. The predicted growth in the forecast period can be accredited to the advancements in precision agriculture, robotics and automation, Internet of Things (IoT) and data analytics, as well as sustainable farming solutions, and electric and hybrid machinery. The forecasted period will also observe some of the major trends such as blockchain traceability, robotics application in harvesting and planting, the advent of hydroponics and aeroponics technologies, multi-purpose tools, and remote tracking and management.

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Top Growth Drivers in the Farm Machinery And Equipment Industry: What's Accelerating the Market?
The surge in IoT integration into farm machinery and equipment is anticipated to be a key driver for the market. As the global population is projected to exceed 9 billion by 2050, farmers require improved tools and methodologies that allow them to boost agricultural production while reducing the time it takes. Modern technology must be adopted by farmers to cater to the rapidly growing population's food needs. For example, the use of IoT-powered smart greenhouses enables automated climate control, eliminating the need for human interference. The smart greenhouse's IoT sensors monitor light levels, pressure, humidity, and temperature and automatically control actuators to open windows, turn on lights, manage heaters, activate misters or fans. Consequently, IoT's role in enhancing production efficiency while reducing labor is a significant contributor to the growth of the farm machinery and equipment market.

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Which Fast-Growing Trends Are Poised to Disrupt the Farm Machinery And Equipment Market?
Leading entities in the farm machinery and equipment market are concentrating on creating technologically sophisticated solutions like electric tractors to improve and optimize farming activities. As a substitute to conventional internal combustion engines, electric tractors use electric motors and batteries, providing lower emissions, reduced operational costs, and less noise when carrying out different agricultural tasks. Fendt, a German agricultural machine company, in October 2023, released its innovative electric tractor, the e107 V Vario, engineered for utilization in vineyards, greenhouses, orchards, and urban regions. The e107 V, which boasts a battery of 100kWh, possesses 90 horsepower and has a running time between 4 and 7 hours, with a swift charge from 20% to 80% in only 45 minutes. The e107 V Vario comprises of features like Fendt's Vario transmission, the FendtONE operating system, and three operating modes, namely Eco, Dynamic, and Dynamic+ to cater to various power requirements.

What Are the Main Segments in the Farm Machinery And Equipment Market?
The farm machinery and equipmentmarket 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 Top Companies are Driving Growth in the Farm Machinery And Equipment Market?
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., s 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 Will Dominate the Farm Machinery And Equipment Market Through 2029?
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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