According to a research report published by Spherical Insights & Consulting, the Global Farm Equipment Market Size is Expected to Grow from USD 165.3 Billion in 2023 to USD 272.3 Billion by 2033, at a CAGR of 5.12% during the forecast period 2023-2033.

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Farm equipment promotes automation technologies and increases land yield in agro-based economies. Modern farming equipment is being used more often due to the lack of human labor and the high expense of cattle conservation. The agriculture industry is anticipated to grow as a result of automation, rising farmer incomes, favorable weather, government loan waiver programs, and cutting-edge robotic farming automation such as drones and self-governing tractors, which will accelerate market expansion. The market for farming equipment is expanding quickly as a result of the use of cutting-edge technologies like GPS, IoT, and AI, which improve farming practices’ productivity and efficiency. The development of a variety of autonomous farm equipment has been made possible by autonomous farming robots, which are outfitted with sophisticated sensors, artificial intelligence algorithms, and accuracy control systems. These robots carry out a variety of tasks throughout the cultivation cycle. Demand has increased globally due to the increasing use of semi-automatic and automatic fertilizer mechanics, automotive propagators, and sprayers in farming, North America and Europe are leading the way in this adoption, with government assistance being a key factor. However, small-income farmers face difficulties due to the high initial cost of farming equipment, but rental businesses increase productivity and open up new revenue streams.

Browse key industry insights spread across 250 pages with 150 Market data tables and figures & charts from the report on the Global Farm Equipment Market Size, Share, and COVID-19 Impact Analysis, By Equipment Type (Tractors, Harvesting Equipment, Cultivation and Soil Separation Equipment, Spraying and Handling Equipment, Irrigation Equipment, and Others), By Application (Land Development, Sowing and Planting, Threshing and Harvesting, Fertilization and Planting, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The tractors segment is predicted to hold the greatest market share through the forecast period.

Based on the equipment type, the farm equipment market is classified into tractors, harvesting equipment, cultivation and soil separation equipment, spraying and handling equipment, irrigation equipment, and others. Among these, the tractors segment is predicted to hold the greatest market share through the forecast period. Modernization and careful farming methods in the Asia Pacific and Latin America have made the use of tractors in agriculture necessary due to the world’s expanding population and labor shortage.

The land development segment is anticipated to hold the greatest market share during the projected timeframe. 

Based on the application, the farm equipment market is divided into land development, sowing and planting, threshing and harvesting, fertilization and planting, and others. Among these, the land development segment is anticipated to hold the greatest market share during the projected timeframe. Land development is required to meet the growing population’s demand for food, and new technologies are changing how land is used. Sales of land development equipment are also influenced by the demand for field reliefs and fertilizers on the global market.

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Asia Pacific is estimated to hold the largest share of the farm equipment market over the forecast period.

Asia Pacific is estimated to hold the largest share of the farm equipment market over the forecast period. Tractor sales are rising in China and India as a result of farm modernization, which is fueled by government initiatives and subsidies. Cleaner transportation, financial incentives, and sustainable farming are the main drivers of adoption in China. For Japan to overcome labor shortages and enhance market development, modernization is essential.

North America is predicted to have the fastest CAGR growth in the farm equipment market over the forecast period. The need for intelligent combine harvesters and modernization is being driven by the expansion of large farmland. The market is expanding due to factors like labor costs, robotic systems, GPS integration, high-capacity machinery, and self-propelled technologies.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global farm equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the farm equipment market include AGCO Corporation, Fliegl Agro-Center GmbH, Agromaster, APV GmbH, Bellota Agrisolutions, CLAAS KGaA mbH, 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), Valmont Industries Inc., Kubota Corporation, and Others.

Recent Development

• In August 2024, the 9S Series tractor, which enables farmers to attain a better cost per hour for a lower total cost of ownership, presented to attendees by Massey Ferguson. The MF 9S Series offers superior cab comfort and fluid efficiencies that lead the industry. Its user-friendly, field-tested technology lowers labor costs and offers exceptional dependability, enabling farmers to finish fieldwork during the best window.
• In March 2024, the 60-foot bulk fill PL5906 planter and the BD7410 box drill were unveiled by Great Plains at the 2024 National Farm Machinery Show. These new items are intended to increase planting productivity and efficiency.
• In August 2023, Mahindra Oja is poised to revolutionize farming in India with the introduction of seven revolutionary lightweight four-wheel drive tractors.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the farm equipment market based on the below-mentioned segments:

 Global Farm Equipment Market, By Equipment Type

• Tractors
• Harvesting Equipment
• Cultivation And Soil Separation Equipment
• Spraying And Handling Equipment
• Irrigation Equipment
• Others

Global Farm Equipment Market, By Application

• Land Development
• Sowing And Planting
• Threshing And Harvesting
• Fertilization And Planting
• Others

Global Farm Equipment Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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