Farm Equipment Market Size & CAGR (2023-2031)
The Farm Equipment Market is expected to register a CAGR of 5.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Offering (Tractors, Balers, Sprayers, Combines). The report further presents analysis based on the Application (Sowing and Planting, Plowing and Cultivating, Harvesting and Threshing, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Farm Equipment Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Farm Equipment Market Segmentation
Offering- Tractors
- Balers
- Sprayers
- Combines
- Sowing and Planting
- Plowing and Cultivating
- Harvesting and Threshing
- Others
Strategic Insights
Farm Equipment Market Growth Drivers- Increasing Demand for Food Production: It is the most significant factor due to the increasing number of people worldwide that increases the demand for food and, in turn, boosts the farm equipment market. When more people demand food, farmers begin to strive for productivity and efficiency in their farms by using more productive farm equipment. This, in turn, leads to a surge in the utilization of modern farming technologies and machinery.
- Technological Advances: Recent advancement in agriculture has been a key influencer for the farm equipment market with precision farming, automation, and smart solutions in farming. Such contributions enhance the operational efficiency of farmers through efficient cost-cutting measures and yield maximization. This is the reason why modern farm equipment is in demand.
- Sustainable farming practices: The growing interest of manufacturers in sustainable farming practices presents an opportunity for the equipment based on the same. Environmental concerns give rise to a continuing need for farmers to acquire machinery that reduces soil erosion, chemicals used, and the usage of resources. This shift, therefore, offers windows for innovation towards eco-friendly farm equipment.
- Emerging geographies: The emerging economies are developing agriculture at a breakneck speed, thus offering maximum opportunities in the farm equipment market. With these geographies increasingly focusing on the development of agricultural systems in their countries, there will be an increase in the demand for advanced farm equipment in the future, thus opening up a lucrative market for manufacturers.
- Rise in Automation and Robotics: The trend of automation in agriculture is picking up pace as farmers are accepting more and more robotic solutions and automated machinery on farms. This trend is driven by efficiency, cost savings in labor, and prevention of labour shortages in agriculture.
- IoT coupled with Data Analytics: The integration of IoT technology into the farm equipment is increasingly done, which means that the way related to data analytics is used in ever greater measure. This ensures that farmers can view their processes in a real-time scenario, make better decisions driven by data, optimize resource usage, and increase productivity along with sustainability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Farm Equipment Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Farm Equipment Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Rise in Automation and Robotics and IoT coupled with Data Analytics are the key future trends of the Farm Equipment Market
The leading players operating in the Farm Equipment Market include AGCO Corporation, CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, ISEKI & Co., Ltd., J C Bamford Excavators Ltd., Kubota Corp, Mahindra & Mahindra Ltd., SDF Group, Yanmar Co., Ltd.
The Farm Equipment Market is estimated to witness a CAGR of 5.0% from 2023 to 2031
The major factors driving the Farm Equipment Market are: Increasing Demand for Food Production and Technological Advances
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Farm Equipment Market - By Offering
1.3.2 Farm Equipment Market - By Application
1.3.3 Farm Equipment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FARM EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat to Substitute
4.2.1 Threat to New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. FARM EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FARM EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. FARM EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. FARM EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FARM EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - OFFERING
7.1. OVERVIEW
7.2. OFFERING MARKET FORECASTS AND ANALYSIS
7.3. TRACTORS
7.3.1. Overview
7.3.2. Tractors Market Forecast and Analysis
7.4. BALERS
7.4.1. Overview
7.4.2. Balers Market Forecast and Analysis
7.5. SPRAYERS
7.5.1. Overview
7.5.2. Sprayers Market Forecast and Analysis
7.6. COMBINES
7.6.1. Overview
7.6.2. Combines Market Forecast and Analysis
8. FARM EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SOWING AND PLANTING
8.3.1. Overview
8.3.2. Sowing and Planting Market Forecast and Analysis
8.4. PLOWING AND CULTIVATING
8.4.1. Overview
8.4.2. Plowing and Cultivating Market Forecast and Analysis
8.5. HARVESTING AND THRESHING
8.5.1. Overview
8.5.2. Harvesting and Threshing Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. FARM EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Farm Equipment Market Overview
9.1.2 North America Farm Equipment Market Forecasts and Analysis
9.1.3 North America Farm Equipment Market Forecasts and Analysis - By Offering
9.1.4 North America Farm Equipment Market Forecasts and Analysis - By Application
9.1.5 North America Farm Equipment Market Forecasts and Analysis - By Countries
9.1.5.1 United States Farm Equipment Market
9.1.5.1.1 United States Farm Equipment Market by Offering
9.1.5.1.2 United States Farm Equipment Market by Application
9.1.5.2 Canada Farm Equipment Market
9.1.5.2.1 Canada Farm Equipment Market by Offering
9.1.5.2.2 Canada Farm Equipment Market by Application
9.1.5.3 Mexico Farm Equipment Market
9.1.5.3.1 Mexico Farm Equipment Market by Offering
9.1.5.3.2 Mexico Farm Equipment Market by Application
9.2. EUROPE
9.2.1 Europe Farm Equipment Market Overview
9.2.2 Europe Farm Equipment Market Forecasts and Analysis
9.2.3 Europe Farm Equipment Market Forecasts and Analysis - By Offering
9.2.4 Europe Farm Equipment Market Forecasts and Analysis - By Application
9.2.5 Europe Farm Equipment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Farm Equipment Market
9.2.5.1.1 Germany Farm Equipment Market by Offering
9.2.5.1.2 Germany Farm Equipment Market by Application
9.2.5.2 France Farm Equipment Market
9.2.5.2.1 France Farm Equipment Market by Offering
9.2.5.2.2 France Farm Equipment Market by Application
9.2.5.3 Italy Farm Equipment Market
9.2.5.3.1 Italy Farm Equipment Market by Offering
9.2.5.3.2 Italy Farm Equipment Market by Application
9.2.5.4 United Kingdom Farm Equipment Market
9.2.5.4.1 United Kingdom Farm Equipment Market by Offering
9.2.5.4.2 United Kingdom Farm Equipment Market by Application
9.2.5.5 Russia Farm Equipment Market
9.2.5.5.1 Russia Farm Equipment Market by Offering
9.2.5.5.2 Russia Farm Equipment Market by Application
9.2.5.6 Rest of Europe Farm Equipment Market
9.2.5.6.1 Rest of Europe Farm Equipment Market by Offering
9.2.5.6.2 Rest of Europe Farm Equipment Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Farm Equipment Market Overview
9.3.2 Asia-Pacific Farm Equipment Market Forecasts and Analysis
9.3.3 Asia-Pacific Farm Equipment Market Forecasts and Analysis - By Offering
9.3.4 Asia-Pacific Farm Equipment Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Farm Equipment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Farm Equipment Market
9.3.5.1.1 Australia Farm Equipment Market by Offering
9.3.5.1.2 Australia Farm Equipment Market by Application
9.3.5.2 China Farm Equipment Market
9.3.5.2.1 China Farm Equipment Market by Offering
9.3.5.2.2 China Farm Equipment Market by Application
9.3.5.3 India Farm Equipment Market
9.3.5.3.1 India Farm Equipment Market by Offering
9.3.5.3.2 India Farm Equipment Market by Application
9.3.5.4 Japan Farm Equipment Market
9.3.5.4.1 Japan Farm Equipment Market by Offering
9.3.5.4.2 Japan Farm Equipment Market by Application
9.3.5.5 South Korea Farm Equipment Market
9.3.5.5.1 South Korea Farm Equipment Market by Offering
9.3.5.5.2 South Korea Farm Equipment Market by Application
9.3.5.6 Rest of Asia-Pacific Farm Equipment Market
9.3.5.6.1 Rest of Asia-Pacific Farm Equipment Market by Offering
9.3.5.6.2 Rest of Asia-Pacific Farm Equipment Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Farm Equipment Market Overview
9.4.2 Middle East and Africa Farm Equipment Market Forecasts and Analysis
9.4.3 Middle East and Africa Farm Equipment Market Forecasts and Analysis - By Offering
9.4.4 Middle East and Africa Farm Equipment Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Farm Equipment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Farm Equipment Market
9.4.5.1.1 South Africa Farm Equipment Market by Offering
9.4.5.1.2 South Africa Farm Equipment Market by Application
9.4.5.2 Saudi Arabia Farm Equipment Market
9.4.5.2.1 Saudi Arabia Farm Equipment Market by Offering
9.4.5.2.2 Saudi Arabia Farm Equipment Market by Application
9.4.5.3 U.A.E Farm Equipment Market
9.4.5.3.1 U.A.E Farm Equipment Market by Offering
9.4.5.3.2 U.A.E Farm Equipment Market by Application
9.4.5.4 Rest of Middle East and Africa Farm Equipment Market
9.4.5.4.1 Rest of Middle East and Africa Farm Equipment Market by Offering
9.4.5.4.2 Rest of Middle East and Africa Farm Equipment Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Farm Equipment Market Overview
9.5.2 South and Central America Farm Equipment Market Forecasts and Analysis
9.5.3 South and Central America Farm Equipment Market Forecasts and Analysis - By Offering
9.5.4 South and Central America Farm Equipment Market Forecasts and Analysis - By Application
9.5.5 South and Central America Farm Equipment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Farm Equipment Market
9.5.5.1.1 Brazil Farm Equipment Market by Offering
9.5.5.1.2 Brazil Farm Equipment Market by Application
9.5.5.2 Argentina Farm Equipment Market
9.5.5.2.1 Argentina Farm Equipment Market by Offering
9.5.5.2.2 Argentina Farm Equipment Market by Application
9.5.5.3 Rest of South and Central America Farm Equipment Market
9.5.5.3.1 Rest of South and Central America Farm Equipment Market by Offering
9.5.5.3.2 Rest of South and Central America Farm Equipment Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. FARM EQUIPMENT MARKET, KEY COMPANY PROFILES
11.1. AGCO CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CLAAS KGAA MBH
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CNH INDUSTRIAL N.V.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DEERE AND COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ISEKI AND CO., LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. J C BAMFORD EXCAVATORS LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KUBOTA CORP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MAHINDRA AND MAHINDRA LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SDF GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. YANMAR CO., LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.AGCO Corporation
2.CLAAS KGaA mbH
3.CNH Industrial N.V.
4.Deere and Company
5.ISEKI and Co., Ltd.
6.J C Bamford Excavators Ltd.
7.Kubota Corp
8.Mahindra and Mahindra Ltd.
9.SDF Group
10.Yanmar Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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