Agriculture Equipment Industry Is Estimated To Surge Ahead At A Cagr Of 6.20% During 2022 To 2030

Posted by rahul nikade on February 20th, 2023

Agriculture Equipment Industry Data Book Covers Agriculture Tractors & Tractors Implements, Agriculture Equipment Markets.

The agriculture equipment industry was valued at USD 286.03 billion in 2022 and is expected to register a growth of 6.2% throughout the forecast period.

Agriculture Equipment Market Report Highlights

The global agriculture equipment market size was evaluated at USD 155.68 billion in 2021, and it is projected to reach USD 236.04 billion by 2030, registering a CAGR of 5.0% from 2022 to 2030.

• Tractors captured a sizeable portion of the overall market in 2020, with the market size expected to surpass USD 80.0 billion by 2030. Tractors are essentially high-cost equipment, thus contributing to their high market share
• Harvesting and threshing are important farming processes, owing to which the segment captured over 20% revenue share in 2021.This trend is expected to continue over the forecast period
• Asia Pacific led the market in 2021, a trend expected to continue over the mid-term. The regional CAGR is expected to exceed 5% from 2022 to 2030. Policies that favor farmer welfare and modernization of farming techniques particularly in developing countries will drive regional growth
• OEMs in this space are expected to witness short-term challenges owing to supply chain disruption and shortage of semiconductors in agriculture equipment which may lead to production delays

Access the Global Agriculture Equipment Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Agricultural Tractor Market Report Highlights

The global agricultural tractor market demand was valued at 2,942.8 thousand units in 2022 and it is expected to reach 4,968.1 thousand units by 2030, expanding at a CAGR of 8.3% CAGR (2022-2030).

• The surge in demand for compact tractors on small farms and technological advancements, such as integrating telematics with agricultural tractors, are expected to drive market growth over the forecast period
• The outbreak of COVID-19 hampered product demand owing to the temporary suspension of production and supply chain disruption
• Key vendors in this space, such as Deere & Company, CLAAS KGaAmbH Escorts Ltd., SOLECTRAC, and Monarch, have commercially launched concepts for their autonomous and electric tractors

Agriculture Equipment Market Report Highlights

The global agriculture equipment market size was evaluated at USD 155.68 billion in 2021 and it is projected to reach USD 236.04 billion by 2030, registering a CAGR of 5.0% from 2022 to 2030.

• Tractors captured a sizeable portion of the overall market in 2020, with the market size expected to surpass USD 80.0 billion by 2030. Tractors are essentially high-cost equipment, thus contributing to their high market share
• Harvesting and threshing are important farming processes, owing to which the segment captured over 20% revenue share in 2021.This trend is expected to continue over the forecast period
• Asia Pacific led the market in 2021, a trend expected to continue over the mid-term. The regional CAGR is expected to exceed 5% from 2022 to 2030. Policies that favor farmer welfare and modernization of farming techniques particularly in developing countries will drive regional growth
• OEMs in this space are expected to witness short-term challenges owing to supply chain disruption and shortage of semiconductors in agriculture equipment which may lead to production delays

Order your copy of the Free Sample of “Agriculture Equipment Industry Data Book - Agriculture Tractors & Tractors Implements, Agriculture Equipment Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the agriculture equipment industry are –

•  AGCO Corp.
• CNH Industrial N.V.
• Deere & Company
• CLAAS KGaAmbH
• Escorts Ltd.
• International Tractors Ltd.
• YanmarCo., Ltd.
• KubotaCorp.
• Mahindra & Mahindra Ltd.
• Tractors and Farm Equipment Ltd.

Grand View Research’s agriculture equipment industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Go through the table of content of agriculture equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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