USD 163.46 Billion
Agriculture Equipment Market Size, Share, and Growth Analysis
Global Agriculture Equipment Market By Product (Tractors, Harvester Machinery), By Application (Land Development & Seed Bed Preparation, Post-harvest & Agro-processing), By Region -Industry Forecast 2025-2032
Report ID:
SQSG20H2003 |
Region:
Global |
Published Date: November, 2024
Pages:
242
|Tables:
69
|Figures:
75
Format -
Agriculture Equipment Market Insights
Agriculture Equipment Market size was valued at USD 163.46 Billion in 2023 and is poised to grow from USD 171.8 Billion in 2024 to USD 266.52 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).
Growing demand for food around the world and high emphasis on improving agricultural yield are forecasted to bolster the sales of agriculture equipment over the coming years. Rising mechanization of farming practices and adoption of advanced farming techniques such as precision and vertical farming are also creating new opportunities for agriculture equipment companies going forward. Availability of government subsidies and incentives for the purchase of advanced agriculture equipment is also expected to benefit the global agriculture equipment market growth in the future. Rapid urbanization and diminishing availability of skilled labor for the agriculture industry are also slated to bolster the sales of agriculture equipment through 2032. Booming global population and advancements in agriculture equipment technologies are also slated to generate new business scope for market players in the long run. On the contrary, high initial investments, unpredictable weather conditions, limited access to credit and finance, and fragmented land holdings are slated to be key restraints for agriculture equipment providers across the study period and beyond.
US Agriculture Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Tractors
Fastest Growth
Harvester Machinery
Growth Rate
5.1% CAGR
Global Agriculture Equipment Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Agriculture Equipment Market Segments Analysis
Global Agriculture Equipment Market is segmented by Product, by Application, and by Region. Based on Product, the market is segmented into Tractors, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, and Others. Based on Application, the market is segmented into Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro-processing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product
Tractors are forecasted to account for a prominent chunk of the global agriculture equipment market share in the future. Extensive use of tractors for a wide variety of applications in agriculture makes it essential for modern farming and contributes to its high revenue generation potential. Growing availability of novel tractors and increasing mechanization of farms are helping this segment maintain its dominant stance. Providing electric tractors to comply with sustainability trends is expected to be the prime focus of agriculture equipment companies looking to expand their business scope via this segment in the long run.
Meanwhile, the demand for harvester machinery is slated to rise at an impressive pace going forward. The surge in popularity of smart combine harvesters and integration of smart actuators in traditional harvester machinery are expected to generate new opportunities via this segment in the future. Innovations in harvester machinery and rising preference for harvesters owing to their high harvesting speeds and efficiency are also expected to boost revenue generation via this segment. Use of harvesters for harvesting grains such as rice and wheat is projected to rise rapidly on a global level as availability of skill agricultural labor reduces.
Analysis by Application
Land development and seedbed preparation segment is slated to hold sway over the global agriculture equipment industry in the long run. Extensive labor required to develop land and prepare it for seed sowing is helping this segment bolster the adoption of agriculture equipment going forward. The highly labor-intensive nature of land development and seedbed preparation for large farms is also promoting the adoption of agriculture equipment for this application around the world. Scarcity of skilled labor and workforce for land development applications is also expected to favor the sales of agriculture equipment across the study period and beyond.
Meanwhile, the demand for agriculture equipment for post-harvest & agro-processing applications is slated to rise at a notable pace in the future. Growing demand for more efficient and fast processing of agricultural produce is expected to bolster the sales of agriculture equipment in this segment. Advancements in agro-processing technologies and efforts to improve food security are helping this segment generate new opportunities going forward. Emphasis on improving shelf life of agricultural products and improve their market accessibility is also estimated to bolster the adoption of advanced agriculture equipment for post-harvest and agro-processing applications through 2032.
Global Agriculture Equipment Market By Product
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Agriculture Equipment Market Regional Insights
Asia Pacific region is expected to earn the top spot in terms of global agriculture equipment market size in the future. Presence of leading agricultural countries such as India and China in this region and availability of government support and subsidies for the agriculture industry are helping this region hold sway over others going forward. Rapidly increasing population in this region, efforts to improve agricultural yield, and rising exports of agricultural produce are also expected to make this an opportune space for agriculture equipment companies in the long run. Adoption of precision and smart farming practices is also slated to favor market development in this region.
North America is expected to account for the second-largest share of the global agriculture equipment industry going forward. Extensive use of agriculture equipment by farmers, presence of leading agriculture equipment providers, and shortage of agricultural labor and workers are helping this region generate new business scope for agriculture equipment suppliers in the long run. Increasing efforts of farmers to reduce the environmental impact of farming and maximize their yields are also projected to boost sales of agriculture equipment in the North American region going forward. Canada and the United States are anticipated to be the leading revenue generators for agriculture equipment suppliers operating in this region through 2032.
Global Agriculture Equipment Market By Geography
- Largest
- Fastest
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Agriculture Equipment Market Dynamics
Agriculture Equipment Market Drivers
Mechanization of Farming Practices
- Growing emphasis on improving agricultural yield and maximization of agricultural productivity has resulted in the high adoption of mechanical machines in agriculture. Mechanization improves efficiency, reduces time, and minimizes manual effort, making it essential for modern farming, which in turn drives the global agriculture equipment market outlook as well.
Surging Demand for Food Around the World
- Rapidly increasing global population and growing demand for food products around the world is also expected to favor the sales of agriculture equipment over the coming years. Use of advanced agricultural equipment enables farmers to cultivate larger areas and achieve higher yields, to meet the surging food supply demands of the world.
Agriculture Equipment Market Restraints
Limited Access to Credit
- Credit, loans, and financing can help farmers acquire advanced agriculture equipment but, the limited accessibility to these financial aids in some parts of the world is expected to slow down the sales of agriculture equipment going forward. This restraint is especially prominent for farmers in underdeveloped and developing economies in the long run.
High Initial Costs
- Acquisition of agriculture equipment requires substantial upfront investments on the part of farmers. Not all farmers can spend such high amount initially or are willing to do so, which is why these high costs are expected to impede the global agriculture equipment demand outlook across the study period and beyond.
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Agriculture Equipment Market Competitive Landscape
Agriculture equipment companies should focus on launching new products with advanced capabilities to maximize their sales potential. Agriculture equipment providers can also explore the development of electric and autonomous machinery to maximize their business scope in the long run. As per this global agriculture equipment market analysis, Asia Pacific region is slated to be the most opportune region for all agriculture equipment companies owing to high agricultural activity in India and China.
Top Players in the Global Agriculture Equipment Market
- AGCO Corporation
- FlieglAgro-Center GmbH
- Bellota Agrisolutions
- CLAAS KGaAmbH
- CNH Industrial N.V.
- Deere & Company
- Escorts Limited
- HORSCH Maschinen GmbH
- ISEKI & Co., Ltd.
- J C Bamford Excavators Ltd
- Quivogne CEE GmbH (Kiwon RUS LLC)
- Rostselmash
- KRUKOWIAK
- KUBOTA Corporation
- KUHN SAS
- LEMKEN GmbH & Co. KG
- Mahindra & Mahindra Ltd.
- MascarSpA
- MaschioGaspardo S.p.A
Agriculture Equipment Market Recent Developments
- In January 2025, AutoNxt Automation, a leading innovator of electric tractors in India announced the official start of its electric tractor sales in India. The company is currently targeting the sugar industry and is expected to change the future of agriculture in India going forward.
- In August 2024, New Holland, a renowned agricultural equipment supplier announced the launch of its Made-in-India tractor. The WORKMASTER 105 features 3,500 kg lift capacity, electro-hydraulic 4WD engagement, and 106 HP power to help farmers improve their farming operations.
- In August 2024, Mahindra Farm Equipment Sector, a leading provider of farming machinery in India announced the launch of a new range of rotavators. The new rotavators are designed to provide highly durable operation and reduce fuel consumption in seedbed preparation applications for farmers.
Agriculture Equipment Key Market Trends
- Use of Autonomous Equipment: Agriculture equipment companies should invest in research and development of autonomous equipment to help boost the use of automation in farming. Focusing on this agriculture equipment market trend can help farmers improve their large-scale farming potential, reduce waste, and also reduce reliance on labor to help make the most of the agriculture industry in the long run.
- Use of Electric Equipment: Agriculture equipment powered by batteries and electric power is slated to gain popularity across the study period and beyond. Growing emphasis on sustainability and adoption of sustainable farming practices are expected to bolster the sales of electric agriculture equipment in the future. As per the global agriculture equipment market forecast, sustainability is estimated to foster product innovation and make businesses compliant with future sustainability mandates.
Agriculture Equipment Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing mechanization of farming practices and rising demand for food around the world are slated to drive agriculture equipment market development in the future. On the contrary, high initial costs of advanced equipment and limited availability of credit are expected to impede the sales of agriculture equipment across the study period and beyond. The Asia Pacific region is forecasted to spearhead agriculture equipment demand owing to the presence of robust agricultural activity in countries such as China and India. The development of autonomous and electric-powered agriculture equipment is anticipated to present new opportunities for agriculture equipment suppliers in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 163.46 Billion |
| Market size value in 2032 | USD 266.52 Billion |
| Growth Rate | 5.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Agriculture Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Agriculture Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Agriculture Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agriculture Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agriculture Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agriculture Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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