The Global Agriculture Equipment Market Size Was Valued At USD 157.89 Billion In 2021. The Market Is Projected To Grow From USD 168.30 Billion In 2022 To USD 272.36 Billion By 2029, Exhibiting A CAGR Of 7.1% During The Forecast Period. Global Agriculture Equipment Market Reports give a Key study on the industry status of the Agriculture Equipment Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
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According to our research, the global market grew by an average of 6.2% between 2019 and 2020.
In the next few years, there will be a lot of pressure to make agricultural land more productive, which will make farmers and land owners more likely to use automation technologies in their farming equipment. Also, there are fewer people to hire, and in many countries it is very expensive to keep cattle healthy on the job site. Because of this, customers are taking advantage of the benefits of updated farming equipment.
Competitive Landscape and Global Market Share Analysis:
AGCO Corporation (U.S.), Alamo Group Inc. (U.S.), China National Machinery Industry Corporation (China), CNH Industrial N.V. (U.K.), CLAAS KGaA GmbH (Japan), Deere & Company (U.S.), Kubota Corporation (Japan), Mahindra & Mahindra (India), SDF S.p.A. (Italy), Valmont Industries Inc. (U.S.), Others
Market Segmentation:
By Equipment Type:
- Agriculture Tractors
- Harvesting Equipment
- Irrigation & Crop Processing Equipment
- Agriculture Spraying & Handling Equipment
- Soil Preparation & Cultivation Equipment
- Others
By Application:
- Land Development
- Threshing and Harvesting
- Plant Protection
- After Agro Processing
- Other
The report on the Agriculture Equipment market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
The Asia-Pacific market was worth USD 59.23 billion in 2021, and over the next five years, it is expected to grow at an impressive 8.3% CAGR. China, India, and many other countries in the ASEAN region have had fast and smooth economic growth, which has led to growth in the market and in the Asia-Pacific region as a whole. Customers in developing countries in the area are becoming more and more reliant on machines, which is another important reason for the growth.
The Asia-Pacific market is expected to be worth 111.87 billion USD by the year 2030. This is because a lot of electrical drives, digitalization, computer sensing, and control are used in equipment and machinery. People think that China has the biggest share of the market for agricultural equipment because there are so many places to make things there. Many established and well-known market players use both organic and inorganic business strategies to keep up their performance in Japan’s mature market and take advantage of opportunities in India, South Korea, Taiwan, and ASEAN countries. Companies are trying to get more customers by adding new products and technologies to their lines.
India’s government gives subsidies and other benefits to encourage more people to buy and use modern equipment. It is expected that the commitment of governments to mechanising agriculture will help growth in the whole region. Agriculture is a big part of the country’s gross domestic product, which shows how important it is to update farming methods all over the country.
For example, India’s central government decided in 2022 to help farmers by giving them a 50% to 80% discount on the cost of farming equipment. The government has also said that if they want to increase crop yield and double farmer income, they need to use new machines and tools.
Big companies like AGCO Corporation, Alamo Group Inc., Deere & Company, and Valmont Industries are all over the U.S., which helps the agricultural equipment market in North America grow. Also, the unspoken efforts of these companies to improve technology through strong investments in research and development, strategic partnerships, acquisitions, collaborations, and joint ventures are seen as key factors that boost the development potential of North America.
Following are the major TOC of the Agriculture Equipment Market:
Chapter 1: Agriculture Equipment Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Agriculture Equipment Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Agriculture Equipment Market Forecast
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Key Reasons to Purchase Agriculture Equipment Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Agriculture Equipment Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Agriculture Equipment Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Agriculture Equipment
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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