Agricultural Machinery Market : Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Agricultural Machinery Market: by Category (Hand Tools, Power Tools), By Type of Machinery (Tractors, Cultivation Machinery, Ploughing Machinery, Trowel, Manure Spreaders, Irrigation Systems, Sorters, Harvesting Machinery, Others), By Application (Cultivation, Planting, Fertilizing and Pest control, Irrigation, Harvesting, Hay Making, Others), By Type of Crop (Forage crops, Grains and Cereals, Vegetable and Fruits, Others) and Geography (North America, Latin America, Europe, Middle East and Africa, Asia Pacific)

 

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Report

Description

Agricultural Machinery Market size was valued at USD 154.34 billion in 2021, growing at a CAGR of 5.1% during the forecast period 2022 to 2028. Agriculture machinery market is driven by decreased agriculture workforce coupled with increased automation in agriculture. Because of the severe COVID-19 impact, the agriculture machinery industry requested some flexibility for machines to be fitted with transition engines that had already been manufactured and acquired prior to the crisis. During the pandemic, the market stagnated as global supply chains were disrupted and manufacturing industries were shut down in compliance with government steps to prevent the virus from spreading. In 2020, tractors accounted for more than 43.6 percent of the worldwide agricultural machinery market. Over the projection period, the Asia-Pacific area is predicted to grow fast due to increased demand for agricultural products, mostly from India and China. China leads Asia in terms of agricultural equipment production and sales, but India, Japan, and Australia are likely to take a considerable portion of the worldwide market in the next years, surpassing Europe as the largest market. The region’s population is growing, necessitating the mechanisation of agriculture. Increasing rates of mechanisation in developing countries are driving the market. In developing countries, the necessity for agriculture mechanisation has increased due to shrinking land, water supplies, and labour force. Farm mechanisation is 45-55 percent in emerging countries like India and China, compared to 95 percent in developed countries like the United States in 2018.

Agricultural Machinery Market

MARKET SUMMARY
-
5.1%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 5.1%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Agricultural Machinery Market

  • The report on global Agricultural Machinery Market gives historical, current, and future market sizes (US$ Mn) on the basis of category, type of machinery, application, type of crop and geography.
  • Agricultural Machinery Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • CLAAS (Germany)
  • Deere & Company (U.S.)
  • CNH Industrial (UK)
  • Bernard Krone Holding SE & Co. KG (Germany)
  • Agrostroj Pelhrimov A.S. (Czech Republic)
Dynamics

Agricultural Machinery Market

Rapid rise in population pool enables spur aggressive need of food across the globe, and creates demand agriculture machinery. Favorable government policies to support the farmers by providing advanced agriculture equipment are expected to drive the market. Furthermore, rise in technological advancements in agriculture equipment, increase in demand for pre-owned agriculture equipment and machinery propels the market growth for agricultural machinery. However, lack of skilled professionals, high cost of machinery will hamper the growth of market.


Asia-Pacific got significant share

Agricultural Machinery Market

Agricultural machinery market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is witnessed to dominate revenue share of agricultural machinery market, owing to huge population and high dependence on agriculture economy, growing disposable income, governments focused on affordable ways for high agriculture production. North America is anticipated to show significant growth followed by Europe due to high adoption of technological advancements, growing demand for the agriculture machinery and equipment.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015-2020) and forecast (2021-2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenari0

Agricultural Machinery Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content


Report

Company Profile

  • CLAAS (Germany)
  • Deere & Company (U.S.)
  • CNH Industrial (UK)
  • Bernard Krone Holding SE & Co. KG (Germany)
  • Agrostroj Pelhrimov A.S. (Czech Republic)
  • AGCO (U.S)
  • Mahindra Group (India)
  • Valmont Industries Incorporated (U.S.)
  • China National Machinery Industry Corporation (China)
  • Concern Tractor Plants (Russia)

Description

Agricultural Machinery Market size was valued at USD 154.34 billion in 2021, growing at a CAGR of 5.1% during the forecast period 2022 to 2028. Agriculture machinery market is driven by decreased agriculture workforce coupled with increased automation in agriculture. Because of the severe COVID-19 impact, the agriculture machinery industry requested some flexibility for machines to be fitted with transition engines that had already been manufactured and acquired prior to the crisis. During the pandemic, the market stagnated as global supply chains were disrupted and manufacturing industries were shut down in compliance with government steps to prevent the virus from spreading. In 2020, tractors accounted for more than 43.6 percent of the worldwide agricultural machinery market. Over the projection period, the Asia-Pacific area is predicted to grow fast due to increased demand for agricultural products, mostly from India and China. China leads Asia in terms of agricultural equipment production and sales, but India, Japan, and Australia are likely to take a considerable portion of the worldwide market in the next years, surpassing Europe as the largest market. The region’s population is growing, necessitating the mechanisation of agriculture. Increasing rates of mechanisation in developing countries are driving the market. In developing countries, the necessity for agriculture mechanisation has increased due to shrinking land, water supplies, and labour force. Farm mechanisation is 45-55 percent in emerging countries like India and China, compared to 95 percent in developed countries like the United States in 2018.

ASIA PACIFIC OFFICE

Precision Business Insights, MIG 366, SAI PLAZA, 1st Floor, KPHB Colony, Hyderabad - 500072

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX