The global agriculture equipment market size was US$ 112.1 billion in 2021. The global agriculture equipment market is forecast to grow to US$ 181.4 billion by 2030, registering a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.

Agricultural methods include plant and animal breeding, land cultivation, etc. These practices are carried out to provide fiber, food, medicine, and other necessities for life enhancement and survival. Farmers benefit from agricultural equipment because it makes their labor easier and less expensive. 

Factors Influencing the Market

• Favorable government subsidies and low-interest rates for the farmers on agricultural equipment will contribute to the global agriculture equipment market growth. 
• Globally, there is likely to be an increase in demand for solitary agriculture equipment such as tractors and machines. Farmers are increasingly adopting new technology and equipment to improve agricultural yields and fulfill expanding food demand. Thus, it will fuel market expansion. 
• Tillage, ploughs, and seeders have been in use for many years. However, advanced farming machinery, such as hay and forage equipment, spraying equipment, irrigation & crop processing equipment, and harvesters are employed to improve overall output. Thus, the growing awareness about this equipment is likely to surge the market growth in the coming years. 
• The global agricultural equipment industry is expected to have a lot of potential as demand for organic farming and products is increasing rapidly. In addition, the global population is also increasing steeply. Thus, it will prompt the growth of the global agricultural equipment market during the study period. 
• On the contrary, the high cost of equipment may hamper the growth of the market during the forecast period. 

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries. The manufacturing and production of agriculture equipment halted during the initial days of the pandemic. In addition, the shortage of labor and raw materials forced factory owners to stop the operation in order to prevent further loss. Thus, the global agriculture equipment market witnessed significant challenges due to the COVID-19 pandemic. 

Regional Analysis

Asia-Pacific holds the most significant share in the global agriculture equipment market, followed by North America and Europe. The growth of the region is attributed to the increasing number of agricultural activities. Furthermore, the rising demand for tractors and other equipment is driving the growth of the industry. In addition, favorable government initiatives and subsidies are likely to propel the market forward in the coming years. 

Market Segmentation

The global agriculture equipment market segmentation focuses on Equipment, Application, and Region.

Based on Equipment Type

• Trailers and Trucks
• Tillage Equipment
• Seeding and Planting Equipment
• Tractors
• Fertilizing
• Plant Protection Equipment
• Irrigation Equipment
• Harvesting Equipment
• Hay And Forage Equipment
• Crop Processing Equipment
• Grain Handling Equipment
• Cutters, Shredders, Threshers, Sprayers

Based on Application

• Land Development
• Sowing
• Planting
• Cultivation
• Harvesting
• Threshing

Based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

Competitors in the Market

• AGCO Corporation
• APV – Technische Produkte GmbH
• Bellota Agrisolutions
• CLAAS KGaA mbH
• CNH Industrial N.V.
• Escorts Limited
• ISEKI & Co., Ltd.
• J C Bamford Excavators Ltd. (JCB) 
• Deere & Company 
• KUBOTA Corporation 
• Mahindra & Mahindra Limited
• Alamo Group Incorporated
• Bucher Industries AG
• Valmont industries Incorporations
• Other Prominent Players