Global Agricultural Equipment

Global Agricultural Equipment

Global demand for agricultural equipment is forecast to expand 3.9% annually between 2019 and 2024, reversing the losses of the 2014-2019 period. Although the market is expected to register significant losses in 2020 because of the COVID-19 pandemic, sales of farm machinery will rebound at a swift pace through 2024 as crop production recovers; farm incomes rise; world commercial demand for agricultural commodity recovers; and governments continue to support farmers. The increasing use of newly developed farm equipment that features advanced technologies will fuel growth in value terms as well.

As the global economy recovers from the COVID-19 pandemic, commercial demand for a wide range of agricultural commodities is expected to recover, leading to higher crop prices and advances in agricultural activity.

Among the types of farm machinery covered in this study are:
Farm Tractors
Harvesting Machinery
Planting & Fertilizing Machinery
Haying Machinery
Livestock Machinery
Plowing & Cultivating Machinery
Other Agricultural Equipment
Parts & Attachments

Agricultural Equipment data is provided for 20 nations in the following regions:
North America
Central & South America
Western Europe
Eastern Europe
Asia/Pacific
Africa/Mideast

Scope of the Report
This report covers the scope, size, and growth of the global agricultural equipment market, including demand by product. Historical figures are provided for 2009, 2014, and 2019 with forecasts for 2024 and 2029. Demand, production, and net exports are presented in millions of dollars. Unit figures are provided for products at the global level. In addition, the study analyzes the structure of the global agricultural machinery market and gives market share figures for leading producers in dollar terms.