Global Agricultural Machinery Market 2024-2028
The agricultural machinery market is forecasted to grow by USD 47.71 bn during 2023-2028, accelerating at a CAGR of 5.5% during the forecast period. The report on the agricultural machinery market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by government subsidies to promote agricultural sector, expansion of arable land, and high labor shortage in farming.
Technavio's agricultural machinery market is segmented as below:
By Type
- Tractors
- Harvesting machinery
- Haying machinery
- Planting and fertilizing machinery
- Plowing and cultivating machinery
By Application
- Land development and seedbed preparation
- Sowing and planting
- Harvesting and threshing
- Others
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the increased popularity of small tractors as one of the prime reasons driving the agricultural machinery market growth during the next few years. Also, rising deployment of equipment and technologies for precision farming and implementation of ai in agricultural machinery will lead to sizable demand in the market.
The report on the agricultural machinery market covers the following areas:
- Agricultural machinery market sizing
- Agricultural machinery market forecast
- Agricultural machinery market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading agricultural machinery market vendors that include AGCO Corp., Bucher Industries AG, CHANGFA GROUP, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., China National Machinery Industry Corp. Ltd., CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., Tractors and Farm Equipment Ltd., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., J C Bamford Excavators Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Weichai Lewo Intelligent Agriculture Technology Co., Ltd., and Yanmar Holdings Co. Ltd.. Also, the agricultural machinery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.