Agriculture Equipment Market Size

The global agriculture equipment market size was valued at $133.62 billion in 2024 and is projected to reach $179.07 billion by 2030, growing at a CAGR of 5.0% during the forecast period.

Agriculture Equipment Market Overview 

Agricultural equipment comprises the range of tools and machinery used by farmers to carry out various agricultural tasks efficiently. There's a noticeable shift towards incorporating automation into these tools. Nowadays, agricultural machinery comes equipped with advanced technologies like Internet of Things (IoT) applications and GPS solutions, which find application across all aspects of farming, from land development and threshing to harvesting and soil preparation. This integration of technology aims to streamline operations, improve precision, and enhance productivity in agricultural practices. 

Agriculture Equipment Market Dynamics 

• The agriculture equipment market is expected to witness significant growth in the future due to the increasing demand for food production, increasing demand for high-capacity machinery, and mechanization growing in agriculture sector.

• Additionally, growing demand for self-propelled machines globally and growing demand for precision agriculture technologies are the prominent factors driving the growth of the market.

• However, high initial investment costs and lack of awareness about technical expertise are restraining the market growth.

• On the contrary, government support for the development of agricultural activities and expansion of agriculture equipment leasing services are creating opportunities for market growth.

By Type, Farm Tractors segment is projected to be the Largest Segment in the Agriculture Equipment Market

The farm tractors segment is anticipated to emerge as the dominant segment in the agriculture equipment market during the forecast period owing to growing integration of advanced technologies like precision farming, GPS, and data analytics into harvesting machinery. This integration promises increased efficiency, accuracy, and yield optimization through real-time monitoring, automated adjustments, and data-driven decision-making. At the core of this trend lies precision harvesting, this leverages data-driven insights to harvest crops at optimal maturity maximizing both yield and quality. This approach aims to minimize waste, ensure crop consistency, and ultimately extract the full economic value from each harvest. 

By Geography, Asia Pacific is Poised to Achieve Highest CAGR during the Forecast Period

The Asia Pacific is experiencing strong growth rate during the forecast period due to economic stability and development in China, India, and ASEAN nations, all key players in the regional market. Further growth is anticipated due to the increasing integration of advanced technologies like electrical drives, computer sensing, digitalization, and agro-tech, empowering equipment with easier attachment capabilities to primary machinery like tractors. China leads the market, presenting extensive opportunities for manufacturers. Established players are actively introducing diverse product offerings across India, South Korea, Taiwan, and ASEAN countries, focusing on highly efficient and powerful equipment models. Additionally, continuous innovation in features and technologies aims to attract broader consumer segments.

Key Target Audience: 

• Farmers

• Agricultural Equipment Manufacturers

• Dealers and Distributors

• Government and Regulatory Bodies

List of the Key Players Profiled in the Report Includes:

• Kubota Corporation

• China National Machinery Industry Corporation

• CNH Industrial NV

• CLASS KGaA GmbH

• Zetor Tractors A.S

• Deere & Company

• Escorts Ltd

• AGCO Corporation

• Valmont Industries

• Argo Tractors Agriculture equipment

• Bucher Industries AG

• Mahindra & Mahindra Limited

Recent Developments: 

• In February 2024, John Deere has revealed innovative equipment solutions for Model Year 2025, introducing Autonomy-ready high-horsepower 9RX series tractors with a groundbreaking 830 horsepower model. Additionally, the S7 Series combines have been enhanced with new fuel-efficient engines, advanced automation features, and upgraded residue-handling, grain-handling, and loss-sensing systems.

Market Segmentation: 

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:

• Farm Tractors

• Agriculture Spraying & Handling Equipment

• Harvesting Equipment

• Irrigation & Crop Processing Equipment

• Soil Preparation & Cultivation Equipment

• Other Types 

Market by, Application:

• Threshing & Harvesting

• Sowing & Planting

• Land Development

• Fertilization & Planting

• Other Applications 

Market by, Geography: 

The agriculture equipment market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report oGlobal Agriculture Equipment Market: Industry Analysis, Opportunities and Forecast up to 2030o by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.

• Analysis of the market structure by identifying various segments and sub-segments of the market.

• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.

• Understand major player profiles in the market and analyze their business strategies.

• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.