Farm Equipment Report: Trends, Forecast and Competitive Analysis to 2030

Farm Equipment Report: Trends, Forecast and Competitive Analysis to 2030

Farm Equipment Trends and Forecast

The future of the global farm equipment market looks promising with opportunities in the plowing & cultivating, sowing & planting, plant protection & fertilizing, and harvesting and threshing markets. The global farm equipment market is expected to reach an estimated $189.6 billion by 2030 with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are government support with farm loan waivers/credit finance, OEM/sales incentives to support dealer service and rental operations, and rising R&D and adoption of electric tractors.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Farm Equipment by Segment

The study includes a forecast for the global farm equipment by power output, drive type, equipment type, function, and region

Farm Equipment Market by Power Output [Shipment Analysis by Value from 2018 to 2030]:

• <30 HP
• 31–70 HP
• 71–130 HP
• 131–250 HP
• >250 HP

Farm Equipment Market by Drive Type [Shipment Analysis by Value from 2018 to 2030]:

• Two-wheel
• Four-wheel

Farm Equipment Market by Equipment Type [Shipment Analysis by Value from 2018 to 2030]:

• Cereal Combines
• Non-Cereal Combines
• Balers
• Tractor-mounted Sprayers
• Self-propelled Sprayers

Farm Equipment Market by Function [Shipment Analysis by Value from 2018 to 2030]:

• Plowing & Cultivating
• Sowing & Planting
• Plant Protection & Fertilizing
• Harvesting & Threshing
• Others

Farm Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Farm Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies farm equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the farm equipment companies profiled in this report include-

• John Deere
• CNH Industrial
• Kubota
• CLAAS
• AGCO

Farm Equipment Market Insights

Lucintel forecast that cereal combines is expected to witness highest growth over the forecast period due to growing demand for cereal crops owing to their use in food and feed production.

Within this market, sowing & planting will remain the largest segment over the forecast period.

North America will remain the largest region over the forecast period due to growing labor costs, the combination of robotics and GPS in tractors and harvesters, the increasing need for large-scale farms to use high-capacity technology, and the growing acceptance of self-propelled vehicles in the region.

Features of the Global Farm Equipment Market

Market Size Estimates: Farm equipment market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Farm equipment market size by various segments, such as by power output, drive type, equipment type, function, and region in terms of value ($B).

Regional Analysis: Farm equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different power output, drive type, equipment type, function, and regions for the farm equipment market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the farm equipment market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the farm equipment market size?

Answer: The global farm equipment market is expected to reach an estimated $189.6 billion by 2030.

Q.2 What is the growth forecast for farm equipment market?

Answer: The global farm equipment market is expected to grow with a CAGR of 4.3% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the farm equipment market?

Answer: The major drivers for this market are government support with farm loan waivers/credit finance, OEM/sales incentives to support dealer service and rental operations, and rising R&D and adoption of electric tractors.

Q4. What are the major segments for farm equipment market?

Answer: The future of the global farm equipment market looks promising with opportunities in the plowing & cultivating, sowing & planting, plant protection & fertilizing, and harvesting and threshing markets.

Q5. Who are the key farm equipment market companies?

Answer: Some of the key farm equipment companies are as follows:

• John Deere
• CNH Industrial
• Kubota
• CLAAS
• AGCO

Q6. Which farm equipment market segment will be the largest in future?

Answer: Lucintel forecast that cereal combines is expected to witness highest growth over the forecast period due to growing demand for cereal crops owing to their use in food and feed production.

Q7. In farm equipment market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to growing labor costs, the combination of robotics and GPS in tractors and harvesters, the increasing need for large-scale farms to use high-capacity technology, and the growing acceptance of self-propelled vehicles in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the farm equipment market by power output (<30 hp, 31–70 hp, 71–130 hp,131–250 hp, and >250 hp), drive type (two-wheel and four-wheel), equipment type (cereal combines, non-cereal combines, balers, tractor-mounted sprayers, and self-propelled sprayers), function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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