Agriculture Equipment Market by Product Type (Agriculture tractors, Harvesters, Soil preparation & cultivation equipment, Irrigation & crop processing equipment, Agriculture spraying equipment, Hay & forage equipment, Other agriculture equipment), Industry Trends, Estimation & Forecast, 2016 - 2024

September 2017

 Pages: 115

 ERC 4930

Agriculture Equipment Market was valued at $171 billion in 2016, and is projected to reach $279.5 billion by 2024, growing at a CAGR of 6.5% from 2017 to 2024.In 2016, Tractor market generated the highest revenue share in the global agriculture equipment market.

Agriculture equipment, also called as farm equipment is the set of machinery which is used for the backing and supporting the agricultural activities. Agriculture equipment comprise of a varied range of equipment and machinery such as tractors, plough, cultivation equipment, and harvesters. Numerous power tools, hand tools, and tractors along with the countless number of farm gears are the major components of the agriculture industry. Constantly rising adoption of technology driven agriculture equipment and intensifying demand for food as a result of surging population are the major factors responsible for the growth of the market.

Market Determinants

In the current scenario, population is rising at an alarming rate and is inclining towards getting more urbanized, holding better dietary habits and living standards. A constantly hiking need for food can stimulate the demand for agricultural products, which will eventually increase the demand for agricultural equipment. Various governments provide explicit support to the farmers in order to purchase agricultural equipment for efficient work outputs. This will stimulate the growth of the agriculture equipment market. Various government authorities are undertaking initiatives to educate farmers about the benefits of using agricultural equipment in farming. Numerous companies are also approaching the farmers to make them aware regarding the loan policies, credit financing, and benefits of contract farming. This is expected to boost the demand for agricultural equipment, majorly heavy machinery. However, loss of skills and unemployment are some restraining factors, which may resist the growth of agriculture equipment.


Agriculture Equipment Market 

Market Segmentation

The Agriculture equipment market is segmented on the basis of product type and geography. By equipment type, the market is segmented as agriculture tractors, harvesters, soil preparation and cultivation equipment, irrigation & crop processing equipment, agriculture spraying equipment, hay and forage equipment, and other agriculture equipment. On the basis of Geography, the market is categorized as North America, Europe, Asia Pacific and Rest of World. Global market players are continuously revealing advanced products to maintain their market position and offer technologically advanced equipment.

The key market players are Deere & Company, Mahindra Group, AGCO Corporation, Agrostroj Pelhrimov A.s, Concern Tractor Plants, Escorts Limited, China National Machinery Industry Corporation, Valmont Industries Incorporated, Weifang Euroking Machinery, Same Deutz-Fahr Group (SDF)

Agriculture Equipment Market Segmentation

By Product Type
    • Agriculture tractors
    • Harvesters
    • Soil preparation & cultivation equipment
    • Irrigation & crop processing equipment
    • Agriculture spraying equipment
    • Hay & forage equipment
    • Other agriculture equipment

By Geography

North America
     • U.S.
     • Canada
     • Mexico

     • France
     • Germany
     • U.K.
     • Rest of Europe

     • India
     • China
     • Japan
     • Rest of Asia-Pacific

     • Latin America
     • Africa
     • Middle East

Agriculture Equipment Market Key Players

     • Deere & Company
     • Mahindra Group
     • AGCO Corporation
     • Agrostroj Pelhrimov A.s
     • Concern Tractor Plants
     • Escorts Limited
     • China National Machinery Industry Corporation
     • Valmont Industries Incorporated.
     • Weifang Euroking Machinery
     • Same Deutz-Fahr Group (SDF)

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