Agriculture Equipment Market
The global agriculture equipment market size was valued at $121.2 billion in 2022, and is projected to reach $192.5 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
The global agriculture equipment market is expected to grow at a CAGR of around 4.9% during 2023-2030. This report on global agriculture equipment market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global agriculture equipment market by segmenting the market based on equipment type, application, sales channel, automation and region. Also, detailed profiles of companies operating in the agriculture equipment market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision
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Market Dynamics of agriculture equipment market
Increasing demand of agriculture equipment Asia Pacific region is expected to drive market growth during the forecast period. This is attributed to the presence of a large agriculture sector in the region. Emerging economies such as India and china are major exporters of agricultural products, which indicates that the region consists of a large agriculture sector and is a highly attractive market for agricultural equipment. For instance, in 2020, India exported worth US$ 38,490 million agricultural and processed food products to more than 100 countries in the regions such as Middle East, Southeast Asia, SAARC countries and European Union (EU).
Several government authorities are also taking initiatives to educate farmers about the benefits of using agricultural equipment in farming operations. Furthermore, the rising government support and incentives regarding farming equipment are also contributing to the growth of this market in the Asia Pacific. For instance, in India, the Rashtriya Krishi Vikas Yojana (RKVY) supports farmers in purchasing agricultural equipment’s such as tractors at subsidized rates.
The report on the global agriculture machinery and equipment market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2023 to 2031. The report provides revenue of the global agriculture machinery and equipment market for the period 2017-2031, considering 2023 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global agriculture machinery and equipment market from 2023 to 2031.
The report has been prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the agriculture machinery and equipment market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global agriculture machinery and equipment market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report throws light on the changing competitive dynamics in the global agriculture machinery and equipment market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global agriculture machinery and equipment market.
The report delves into the competitive landscape of the global agriculture machinery and equipment market. Key players operating in the global agriculture machinery and equipment market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global agriculture machinery and equipment market profiled in this report.
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Market Segmentation of agriculture equipment market
Agriculture Equipment Market Assessment - by Type
· 30-50 HP
· Less than 30 HP
· 51-100 HP
· More than 100 HP
· Harvesting Equipment
· Combine Harvesters
· Forage Harvesters
· Other Harvesters
· Soil Preparation & Cultivation Equipment
· Irrigation Equipment
· Irrigation Equipment Market, by Type
· Drip Irrigation
· Sprinkler Irrigation
· Other Irrigation Equipment
· Irrigation Equipment Market, by Component
· Irrigation Valves
· Irrigation Controllers
· Other Components
· Spraying Equipment
Agriculture Equipment Market Assessment - by Mode of Operation
Agriculture Equipment Market Assessment - by Power Source
· Non-electric powered Agriculture Equipment
· Electric-powered Agriculture Equipment
Agriculture Equipment Market Assessment - by Application
· Land Development & Seedbed Preparation
· Harvesting & Threshing
· Crop Protection
· Sowing & Planting
· Other Applications
Agriculture Equipment Market Assessment - by Geography
· North America
· Rest of Europe (RoE)
· Rest of Asia-Pacific (RoAPAC)
· Latin America