Global Farm Equipment Market
Market Size in USD Billion
CAGR :
% 
USD
75.20 Billion
USD
103.71 Billion
2024
2032
 Forecast Period |
2025 –2032 |
 Market Size (Base Year) |
USD 75.20 Billion |
 Market Size (Forecast Year) |
USD 103.71 Billion |
 CAGR |
% |
| Major Markets Players |
|
Global Farm Equipment Market Segmentation, By Power Output (Farm Tractor and Autonomous Tractor), Farm Tractor Drive Type (Four-Wheel and Two-Wheel), Equipment Type (Balers, Combines, and Sprayers), Function (Harvesting and Threshing, Sowing and Planting, Ploughing and Cultivating, Plant Protection and Fertilizing, and Others), Rental Equipment Type (Combines, Tractors, and Others) - Industry Trends and Forecast to 2032
Farm Equipment Market Size
- The global farm equipment market size was valued at USD 75.2 billion in 2024 and is expected to reach USD 103.71 billion by 2032, at a CAGR of 4.10% during the forecast period
- This growth is driven by factors such as the government initiatives and subsidies, rising food demand due to population growth, adoption of precision farming
Farm Equipment Market Analysis
- Farm equipment refers to all the technology and machinery that is required or demanded by the farmers to undertake agricultural activities
- This equipment or machinery helps the farmers to generate greater profits as they help to increase the output of the farm and subsequently improve the quality of the produce. This equipment is easy to use and saves the farmers a lot of time
- Asia-Pacific is expected to dominate the farm equipment market due to growing infrastructure and distribution networks facilitate the accessibility of farm equipment to rural areas
- Europe is expected to be the fastest growing region in the farm equipment market during the forecast period due to emphasis on sustainable farming practices and eco-friendly equipment drives market growth
- 31-60 horsepower segment is expected to dominate the market with a market share of 34.5% due to their versatility in tasks such as ploughing, sowing, and hauling
Report Scope and Farm Equipment Market Segmentation
|
Attributes |
Farm Equipment Key Market Insights |
|
Segments Covered |
|
|
Countries Covered |
North America
Europe
Asia-Pacific
Middle East and Africa
South America
|
|
Key Market Players |
|
|
Market Opportunities |
|
|
Value Added Data Infosets |
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis. |
Farm Equipment Market Trends
“Integration of Advanced Technologies”
- The global farm equipment market is experiencing a significant transformation driven by the integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and robotics
- These innovations are reshaping traditional farming practices, leading to the emergence of precision agriculture. Precision agriculture involves the use of GPS-guided tractors, drones for crop monitoring, and AI-powered farm management systems to optimize resource use, enhance crop yields, and reduce environmental impact
- For instance, companies such as Farmonaut are leveraging satellite-based monitoring systems to provide real-time crop health data, enabling farmers to make informed decisions and improve productivity
- This trend reflects a broader shift towards sustainable and efficient farming practices, positioning technology as a cornerstone of modern agriculture
Farm Equipment Market Dynamics
Driver
“Increasing Adoption of Precision Agriculture Technologies”
- The integration of AI, IoT, and robotics into farming equipment allows for more efficient and precise farming practices
- GPS-guided tractors and drones enable farmers to monitor and manage crops with high accuracy, leading to optimized resource use and improved crop yields
- Additionally, AI-powered farm management systems assist in analyzing large datasets to make informed decisions, further enhancing productivity
- For Instance, Farmonaut's satellite-based monitoring system offers real-time crop health data, allowing farmers to take timely actions and reduce resource wastage
- This technological advancement is particularly beneficial in regions with limited arable land, as it maximizes the output per unit area, contributing to the overall growth of the farm equipment market
Opportunity
“Growing Emphasis on Sustainable Farming Practices”
- The growing emphasis on sustainable farming practices presents a significant opportunity for the farm equipment market. As environmental concerns rise, there is an increasing demand for equipment that supports eco-friendly farming methods
- Technologies such as precision application of fertilizers and pesticides, water-efficient irrigation systems, and renewable energy-powered farm equipment are gaining traction
- For Instance, JCB's development of hydrogen combustion engines for off-road equipment aligns with the industry's shift towards sustainability
- Moreover, the Indian government's initiative to support electric tractors, such as Sonalika's Tiger Electric, reflects a commitment to reducing the carbon footprint of agriculture
- These developments indicate a growing market for sustainable farm equipment, offering manufacturers opportunities to innovate and cater to environmentally conscious consumers
Restraint/Challenge
“High Costs and Accessibility”
- Despite the advancements, the farm equipment market faces challenges related to high costs and accessibility
- The adoption of advanced machinery often requires significant capital investment, which can be a barrier for small and medium-sized farmers
- For Instance, the launch of electric tractors such as Sonalika's Tiger Electric involves substantial research and development costs, potentially leading to higher prices for end-users
- Additionally, the lack of robust charging infrastructure in rural areas further complicates the widespread adoption of electric farm equipment
- These financial and infrastructural challenges necessitate policy interventions and innovative solutions to ensure equitable access to modern farming technologies, thereby fostering inclusive growth in the agricultural sector
Farm Equipment Market Scope
The market is segmented on the basis of power output, farm tractor drive type, equipment type, and rental equipment type.
|
Segmentation |
Sub-Segmentation |
|
By Power Output |
|
|
By Farm Tractor Drive Type |
|
|
By Equipment Type |
|
|
By Function |
|
|
By Rental Equipment Type |
|
In 2025, the 31-70 horsepower is projected to dominate the market with a largest share in power output segment
The 31-70 horsepower segment is expected to dominate the Farm Equipment market with the largest share of 34.5% in 2025 due to their versatility in tasks such as ploughing, sowing, and hauling.
The harvesting and threshing is expected to account for the largest share during the forecast period in function market
In 2025, the harvesting and threshing segment is expected to dominate the market with the largest market share of 33.5% due to its demand for advanced harvesting machinery, such as combine harvesters, is increasing to improve productivity and reduce labour dependency.
Farm Equipment Market Regional Analysis
“Asia-Pacific Holds the Largest Share in the Farm Equipment Market”
- Asia-Pacific holds the largest share of the global farm equipment market, driven by countries such as China and India, which are investing heavily in agricultural modernization
- Government subsidies and policies, such as India's "Make in India" program, are promoting the adoption of advanced farming equipment
- The region is witnessing the integration of technologies such as GPS-guided tractors and drones, enhancing farming efficiency
- Growing infrastructure and distribution networks facilitate the accessibility of farm equipment to rural areas
- Asia-Pacific's significant market size underscores its dominance in the global farm equipment sector
“Europe is Projected to Register the Highest CAGR in the Farm Equipment Market”
- Europe is projected to grow, indicating rapid expansion in the farm equipment market
- Emphasis on sustainable farming practices and eco-friendly equipment drives market growth
- EU policies and subsidies encourage the adoption of modern agricultural machinery
- Increased adoption of precision farming technologies enhances productivity
- The combination of policy support and technological advancements positions Europe as the fastest-growing region in the farm equipment market
Farm Equipment Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
The Major Market Leaders Operating in the Market Are:
- Alamo Group Inc. (U.S.)
- AGCO Corporation (U.S.)
- Argo Tractors S.p.A. (Italy)
- AMAZONEN-WERKE H. Dreyer GmbH & Co. KG (Germany)
- Bucher Industries AG (Switzerland)
- CLAAS KGaA mbH (Germany)
- CNH Industrial N.V. (U.K. and the Netherlands – dual-listed)
- Daedong (South Korea)
- Deere & Company (U.S.)
- Escorts Limited (India)
- ISEKI & CO., LTD. (Japan)
- KUBOTA Corporation (Japan)
- Kverneland AS (Norway)
- Mahindra & Mahindra Ltd. (India)
- NETAFIM (Israel)
- SDF S.p.A. (Italy)
- Tractors and Farm Equipment Limited (TAFE) (India)
- YANMAR HOLDINGS CO., LTD. (Japan)
- ZETOR TRACTORS a.s. (Czech Republic)
- Solis (International Tractors Limited) (India)
Latest Developments in Global Farm Equipment Market
- In July 2023, Deere & Company announced the acquisition of Smart Apply, Inc. The company planned to leverage Smart Apply’s precision spraying to assist growers address the challenges associated with input costs, labor, regulatory requirements, and environmental goals
- In July 2023, CLAAS KGaA mbH unveiled the company’s high-performance XERION 12 Series tractors. The two new tractor models are integrated with the highly efficient low-engine speed drive concept 2.0
- In June 2023, JCB announced plans to introduce the company’s first electric wheeled loader with zero-emission and low-noise capabilities. The loader comes with options for wide or narrow wheels and tire options for agriculture or industrial deployment
- In June 2023, Mahindra Group’s Swaraj Tractors unveiled the launch of a lightweight compact tractor named ‘Swaraj Target’. The tractor features first-in-class functionalities, matchless performance capability, and state-of-the-art technology to cater to the special needs of Indian farmers
- In May 2023, AMAZONE announced new products as a part of its precision seeders business range. The new advanced trailed models, Precea 12000-TCC and 9000-TCC have been designed exclusively for large-scale farms & contractors
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
