The global agriculture equipment market size was US$ 112.1 billion in 2021. The global agriculture equipment market is forecast to grow to US$ 181.4 billion by 2030, registering a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.

Agricultural methods include plant and animal breeding, land cultivation, etc. These practices are carried out to provide fiber, food, medicine, and other necessities for life enhancement and survival. Farmers benefit from agricultural equipment because it makes their labor easier and less expensive.

Factors Influencing the Market

Favorable government subsidies and low-interest rates for the farmers on agricultural equipment will contribute to the global agriculture equipment market growth.
Globally, there is likely to be an increase in demand for solitary agriculture equipment such as tractors and machines. Farmers are increasingly adopting new technology and equipment to improve agricultural yields and fulfill expanding food demand. Thus, it will fuel market expansion.
Tillage, ploughs, and seeders have been in use for many years. However, advanced farming machinery, such as hay and forage equipment, spraying equipment, irrigation & crop processing equipment, and harvesters are employed to improve overall output. Thus, the growing awareness about this equipment is likely to surge the market growth in the coming years.
The global agricultural equipment industry is expected to have a lot of potential as demand for organic farming and products is increasing rapidly. In addition, the global population is also increasing steeply. Thus, it will prompt the growth of the global agricultural equipment market during the study period.
On the contrary, the high cost of equipment may hamper the growth of the market during the forecast period.
COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries. The manufacturing and production of agriculture equipment halted during the initial days of the pandemic. In addition, the shortage of labor and raw materials forced factory owners to stop the operation in order to prevent further loss. Thus, the global agriculture equipment market witnessed significant challenges due to the COVID-19 pandemic.

Regional Analysis

Asia-Pacific holds the most significant share in the global agriculture equipment market, followed by North America and Europe. The growth of the region is attributed to the increasing number of agricultural activities. Furthermore, the rising demand for tractors and other equipment is driving the growth of the industry. In addition, favorable government initiatives and subsidies are likely to propel the market forward in the coming years.

Market Segmentation

The global agriculture equipment market segmentation focuses on Equipment, Application, and Region.

Based on Equipment Type

Trailers and Trucks
Tillage Equipment
Seeding and Planting Equipment
Tractors
Fertilizing
Plant Protection Equipment
Irrigation Equipment
Harvesting Equipment
Hay And Forage Equipment
Crop Processing Equipment
Grain Handling Equipment
Cutters, Shredders, Threshers, Sprayers
Based on Application

Land Development
Sowing
Planting
Cultivation
Harvesting
Threshing
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Competitors in the Market

AGCO Corporation
APV Technische Produkte GmbH
Bellota Agrisolutions
CLAAS KGaA mbH
CNH Industrial N.V.
Escorts Limited
ISEKI & Co., Ltd.
J C Bamford Excavators Ltd. (JCB)
Deere & Company
KUBOTA Corporation
Mahindra & Mahindra Limited
Alamo Group Incorporated
Bucher Industries AG
Valmont industries Incorporations
Other Prominent Players