Apr 13, 2023   SOURCE: BusinessWire

Global Agriculture Equipment Market Report to 2028: Rising Awareness Among Farmers About the Benefits of Using Agriculture Equipment Drives Growth - ResearchAndMarkets.com

The "Agriculture Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global agriculture equipment market size reached US$ 165.9 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 223.5 Billion by 2028, exhibiting a CAGR of 5.09% during 2022-2028.

Companies Mentioned

  • AGCO Corporation
  • Agromaster Agricultural Machinery
  • Argo Tractors S.p.A.
  • Bellota Agrisolutions
  • China National Machinery Industry Corporation
  • CLAAS KGaA mbH
  • CNH Industrial N.V.
  • Deere & Company
  • Escorts Limited
  • Iseki & Co. Ltd.
  • JC Bamford Excavators Ltd.
  • Kubota Corporation
  • Mahindra & Mahindra Limited
  • SDF Group

Agriculture equipment is used for performing various tasks in farming, such as harvesting crops, spraying fields, seeding, tilling fields, breeding cows, and feeding livestock. It comprises mowers, backhoe, harrow, cultivator, rake, tractor, combine harvester, sprayers, chain saw, brush cutters, and sawmills.

It enhances the efficiency and productivity of farming by minimizing human labor and reducing errors, physical shortcomings and wastage in agriculture. It assists in cultivating land by smoothing hillocks, filling in depressions and gullies, and removing deep-rooted weeds while preventing soil erosion. In addition, it reduces fodder area and enlarges crop area to produce food for human consumption.

At present, the growing awareness among farmers about the benefits of using agriculture equipment represents one of the key factors driving the market. Besides this, governments of several countries are promoting the usage of agriculture equipment by providing loan waiver schemes to farmers.

They are also providing funds to farmers for adopting sustainable agriculture practices and enhancing productivity using machinery, which is contributing to the growth of the market. Moreover, the integration of technologically advanced agricultural robotics in farming, such as autonomous tractors and flying drones, to help farmers produce food at low costs is propelling the growth of the market. In addition, the growing demand for electric tractors to reduce air pollution and greenhouse gas emissions is offering a positive market outlook.

Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce self-propelled machines in farming. They are also focusing on various marketing strategies to expand their customer base. Additionally, the rising demand for enhanced machines with high-power to farm hard-to-access areas and handle a wide range of implements is bolstering the growth of the market.

Key Questions Answered in This Report

1. What was the size of the global agriculture equipment market in 2022?

2. What is the expected growth rate of the global agriculture equipment market during 2023-2028?

3. What are the key factors driving the global agriculture equipment market?

4. What has been the impact of COVID-19 on the global agriculture equipment market?

5. What is the breakup of the global agriculture equipment market based on the equipment type?

6. What is the breakup of the global agriculture equipment market based on the application?

7. What is the breakup of the global agriculture equipment market based on the sales channel?

8. What are the key regions in the global agriculture equipment market?

9. Who are the key players/companies in the global agriculture equipment market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Agriculture Equipment Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Equipment Type

6.1 Agriculture Tractor

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Harvesting Equipment

6.2.1 Market Trends

6.2.2 Market Forecast

6.3 Irrigation and Crop Processing Equipment

6.3.1 Market Trends

6.3.2 Market Forecast

6.4 Agriculture Spraying and Handling Equipment

6.4.1 Market Trends

6.4.2 Market Forecast

6.5 Soil Preparation and Cultivation Equipment

6.5.1 Market Trends

6.5.2 Market Forecast

6.6 Others

6.6.1 Market Trends

6.6.2 Market Forecast

7 Market Breakup by Application

7.1 Land Development

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Threshing and Harvesting

7.2.1 Market Trends

7.2.2 Market Forecast

7.3 Plant Protection

7.3.1 Market Trends

7.3.2 Market Forecast

7.4 After Agro Processing

7.4.1 Market Trends

7.4.2 Market Forecast

8 Market Breakup by Sales Channel

8.1 Original Equipment Manufacturers (OEM)

8.1.1 Market Trends

8.1.2 Market Forecast

8.2 Aftermarket

8.2.1 Market Trends

8.2.2 Market Forecast

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/gf9k07

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.