Farm Equipment Market Overview:
Farm Equipment Market Size is valued at $ 344 billion by 2030, and is anticipated to grow at a CAGR of 6.1% during the forecast period 2024 -2030. The global farm equipment market is experiencing steady growth, driven by increasing demand for mechanized farming and technological advancements. Key factors influencing market expansion include the need for higher crop yields, labor shortages in agriculture, and rising global food demand.
Tractors, harvesters, and planting equipment dominate the market, while automation and precision farming technologies are gaining traction. Leading manufacturers such as John Deere, AGCO, and CNH Industrial are focusing on innovations like GPS integration and smart farming solutions. Emerging markets in Asia-Pacific and Latin America present significant growth opportunities as modernization efforts ramp up in these regions.
Farm Equipment Market - Report Coverage:
The “Farm Equipment Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Farm Equipment Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
Key Takeaways:
In 2023, the Manual Segment led the Farm Equipment Market, accounting for approximately 43% of the total market share. This segment plays a vital role, driven by factors such as the use of natural forces, availability of affordable labor, and the need for precision in agricultural tasks. In countries across the sub-continent, such as China and India, where manual labor is abundant, the demand for manual farm equipment is expected to rise. The reliance on natural resources and cost-effective labor aligns with the economic conditions of these regions, fueling market growth. Additionally, the increasing focus on precision in agricultural practices has led to greater adoption of manual machinery, particularly for tasks requiring careful handling or intricate operations. As these elements align, the manual segment is set to experience significant demand, reflecting a balance between traditional methods, economic factors, and the drive for precision in farm equipment operations.
In 2023, the tractor segment held the largest revenue market share of 29%, driven by the pressing need to address labor shortages and meet the rising global food demand fueled by a growing population. According to data from national authorities, 211,700 tractors were registered across Europe in 2023. Of these, CEMA reports that 158,100 were agricultural tractors, with 26,200 (17%) having a power output of 37kW (50 hp) or less, and 131,900 (83%) exceeding 38kW. The remainder included various vehicles, such as quad bikes, side-by-side utility vehicles, telehandlers, and other types sometimes classified as tractors. An overview of agricultural tractor registrations by country is provided in the annex. Additionally, the rise of electric tractors presents a significant growth opportunity for the market. These tractors offer numerous advantages, including cost-effectiveness, environmental sustainability, and high efficiency, making them an attractive choice for farmers seeking to reduce their ecological footprint while increasing productivity. As demand for farm equipment continues to grow, the tractor segment is expected to maintain its dominant market position. With ongoing technological advancements and an increasing focus on sustainable farming practices, tractors will remain pivotal in meeting the escalating global food demands.
The growing trend of agricultural mechanization in developing countries is significantly boosting the demand for farm equipment. As these nations face challenges such as limited land availability, water scarcity, and a declining labor force, they are increasingly turning to mechanized solutions to improve productivity and efficiency in agriculture. This transition is driving strong demand for a variety of farm equipment, including tractors, harvesters, irrigation systems, and precision agriculture tools. Farmers in these regions are recognizing the need for modern technologies to overcome traditional constraints and optimize resource use. Tractors, in particular, are in high demand, as they are vital for quickly plowing, planting, and cultivating large areas of land. For example, Sonalika International Tractors introduced five new series, including an e-model, at the Global Partners Summit 200 in Gurugram. These models feature compact designs and advanced emission control systems, catering to the increasing mechanization in developing countries and driving market growth. Additionally, there is a rising interest in precision agriculture tools and irrigation systems, reflecting a push for better resource management and sustainable farming practices. As these countries continue to embrace mechanization, the farm equipment market is experiencing significant growth, driven by the need to ensure food production amid resource limitations.
The demand for farm equipment is highly seasonal, driven by planting and harvesting cycles. This seasonality poses a challenge for manufacturers and distributors in maintaining a consistent production and sales pipeline. During off-peak periods, manufacturers often experience a slowdown in demand, leading to inefficiencies in production planning and resource allocation. The agricultural industry is inherently vulnerable to external factors such as weather conditions, pest outbreaks, and global commodity price fluctuations. These factors directly influence farmers' purchasing power and willingness to invest in new equipment. For instance, a poor harvest season can lead to reduced income for farmers, thereby limiting their ability to invest in machinery for the next season. To address these challenges, companies in the farm equipment market must develop flexible business models, such as offering rental services or subscription-based access to machinery, ensuring steady revenue streams while catering to farmers' varying financial capabilities.
Key Market Players:
Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Farm Equipment Market. The top 10 companies in this industry are listed below:
List of Tables:
Table 1: Farm Equipment Market Overview 2023-2030
Table 2: Farm Equipment Market Leader Analysis 2023-2024 (US$)
Table 3: Farm Equipment Market Product Analysis 2023-2024 (US$)
Table 4: Farm Equipment Market End User Analysis 2023-2024 (US$)
Table 5: Farm Equipment Market Patent Analysis 2021-2023* (US$)
Table 6: Farm Equipment Market Financial Analysis 2023-2024 (US$)
Table 7: Farm Equipment Market Driver Analysis 2023-2024 (US$)
Table 8: Farm Equipment Market Challenges Analysis 2023-2024 (US$)
Table 9: Farm Equipment Market Constraint Analysis 2023-2024 (US$)
Table 10: Farm Equipment Market Supplier Bargaining Power Analysis 2023-2024 (US$)
Table 11: Farm Equipment Market Buyer Bargaining Power Analysis 2023-2024 (US$)
Table 12: Farm Equipment Market Threat of Substitutes Analysis 2023-2024 (US$)
Table 13: Farm Equipment Market Threat of New Entrants Analysis 2023-2024 (US$)
Table 14: Farm Equipment Market Degree of Competition Analysis 2023-2024 (US$)
Table 15: Farm Equipment Market Value Chain Analysis 2023-2024 (US$)
Table 16: Farm Equipment Market Pricing Analysis 2023-2030 (US$)
Table 17: Farm Equipment Market Opportunities Analysis 2023-2030 (US$)
Table 18: Farm Equipment Market Product Life Cycle Analysis 2023-2030 (US$)
Table 19: Farm Equipment Market Supplier Analysis 2023-2024 (US$)
Table 20: Farm Equipment Market Distributor Analysis 2023-2024 (US$)
Table 21: Farm Equipment Market Trend Analysis 2023-2024 (US$)
Table 22: Farm Equipment Market Size 2023 (US$)
Table 23: Farm Equipment Market Forecast Analysis 2023-2030 (US$)
Table 24: Farm Equipment Market Sales Forecast Analysis 2023-2030 (Units)
Table 25: Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 26: Farm Equipment Market By Type, Revenue & Volume, By Trailers and Trucks, 2023-2030 ($)
Table 27: Farm Equipment Market By Type, Revenue & Volume, By Tractors, 2023-2030 ($)
Table 28: Farm Equipment Market By Type, Revenue & Volume, By Tillage Equipment, 2023-2030 ($)
Table 29: Farm Equipment Market By Type, Revenue & Volume, By Planting Equipment, 2023-2030 ($)
Table 30: Farm Equipment Market By Type, Revenue & Volume, By Irrigation Equipment, 2023-2030 ($)
Table 31: Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 32: Farm Equipment Market By Phase, Revenue & Volume, By Land Development, 2023-2030 ($)
Table 33: Farm Equipment Market By Phase, Revenue & Volume, By Sowing and Planting, 2023-2030 ($)
Table 34: Farm Equipment Market By Phase, Revenue & Volume, By Cultivation, 2023-2030 ($)
Table 35: Farm Equipment Market By Phase, Revenue & Volume, By Harvesting and Threshing, 2023-2030 ($)
Table 36: Farm Equipment Market By Phase, Revenue & Volume, By Post Harvesting, 2023-2030 ($)
Table 37: North America Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 38: North America Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 39: South america Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 40: South america Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 41: Europe Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 42: Europe Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 43: APAC Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 44: APAC Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 45: Middle East & Africa Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 46: Middle East & Africa Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 47: Russia Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 48: Russia Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 49: Israel Farm Equipment Market, Revenue & Volume, By Type, 2023-2030 ($)
Table 50: Israel Farm Equipment Market, Revenue & Volume, By Phase, 2023-2030 ($)
Table 51: Top Companies 2023 (US$) Farm Equipment Market, Revenue & Volume
Table 52: Product Launch 2023-2024 Farm Equipment Market, Revenue & Volume
Table 53: Mergers & Acquistions 2023-2024 Farm Equipment Market, Revenue & Volume
List of Figures:
Figure 1: Overview of Farm Equipment Market 2023-2030
Figure 2: Market Share Analysis for Farm Equipment Market 2023 (US$)
Figure 3: Product Comparison in Farm Equipment Market 2023-2024 (US$)
Figure 4: End User Profile for Farm Equipment Market 2023-2024 (US$)
Figure 5: Patent Application and Grant in Farm Equipment Market 2021-2023* (US$)
Figure 6: Top 5 Companies Financial Analysis in Farm Equipment Market 2023-2024 (US$)
Figure 7: Market Entry Strategy in Farm Equipment Market 2023-2024
Figure 8: Ecosystem Analysis in Farm Equipment Market 2023
Figure 9: Average Selling Price in Farm Equipment Market 2023-2030
Figure 10: Top Opportunites in Farm Equipment Market 2023-2024
Figure 11: Market Life Cycle Analysis in Farm Equipment Market
Figure 12: GlobalBy Type Farm Equipment Market Revenue, 2023-2030 ($)
Figure 13: GlobalBy Phase Farm Equipment Market Revenue, 2023-2030 ($)
Figure 14: Global Farm Equipment Market - By Geography
Figure 15: Global Farm Equipment Market Value & Volume, By Geography, 2023-2030 ($)
Figure 16: Global Farm Equipment Market CAGR, By Geography, 2023-2030 (%)
Figure 17: North America Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 18: US Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 19: US GDP and Population, 2023-2024 ($)
Figure 20: US GDP – Composition of 2023, By Sector of Origin
Figure 21: US Export and Import Value & Volume, 2023-2024 ($)
Figure 22: Canada Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 23: Canada GDP and Population, 2023-2024 ($)
Figure 24: Canada GDP – Composition of 2023, By Sector of Origin
Figure 25: Canada Export and Import Value & Volume, 2023-2024 ($)
Figure 26: Mexico Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 27: Mexico GDP and Population, 2023-2024 ($)
Figure 28: Mexico GDP – Composition of 2023, By Sector of Origin
Figure 29: Mexico Export and Import Value & Volume, 2023-2024 ($)
Figure 30: South America Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 31: Brazil Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 32: Brazil GDP and Population, 2023-2024 ($)
Figure 33: Brazil GDP – Composition of 2023, By Sector of Origin
Figure 34: Brazil Export and Import Value & Volume, 2023-2024 ($)
Figure 35: Venezuela Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 36: Venezuela GDP and Population, 2023-2024 ($)
Figure 37: Venezuela GDP – Composition of 2023, By Sector of Origin
Figure 38: Venezuela Export and Import Value & Volume, 2023-2024 ($)
Figure 39: Argentina Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 40: Argentina GDP and Population, 2023-2024 ($)
Figure 41: Argentina GDP – Composition of 2023, By Sector of Origin
Figure 42: Argentina Export and Import Value & Volume, 2023-2024 ($)
Figure 43: Ecuador Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 44: Ecuador GDP and Population, 2023-2024 ($)
Figure 45: Ecuador GDP – Composition of 2023, By Sector of Origin
Figure 46: Ecuador Export and Import Value & Volume, 2023-2024 ($)
Figure 47: Peru Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 48: Peru GDP and Population, 2023-2024 ($)
Figure 49: Peru GDP – Composition of 2023, By Sector of Origin
Figure 50: Peru Export and Import Value & Volume, 2023-2024 ($)
Figure 51: Colombia Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 52: Colombia GDP and Population, 2023-2024 ($)
Figure 53: Colombia GDP – Composition of 2023, By Sector of Origin
Figure 54: Colombia Export and Import Value & Volume, 2023-2024 ($)
Figure 55: Costa Rica Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 56: Costa Rica GDP and Population, 2023-2024 ($)
Figure 57: Costa Rica GDP – Composition of 2023, By Sector of Origin
Figure 58: Costa Rica Export and Import Value & Volume, 2023-2024 ($)
Figure 59: Europe Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 60: U.K Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 61: U.K GDP and Population, 2023-2024 ($)
Figure 62: U.K GDP – Composition of 2023, By Sector of Origin
Figure 63: U.K Export and Import Value & Volume, 2023-2024 ($)
Figure 64: Germany Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 65: Germany GDP and Population, 2023-2024 ($)
Figure 66: Germany GDP – Composition of 2023, By Sector of Origin
Figure 67: Germany Export and Import Value & Volume, 2023-2024 ($)
Figure 68: Italy Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 69: Italy GDP and Population, 2023-2024 ($)
Figure 70: Italy GDP – Composition of 2023, By Sector of Origin
Figure 71: Italy Export and Import Value & Volume, 2023-2024 ($)
Figure 72: France Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 73: France GDP and Population, 2023-2024 ($)
Figure 74: France GDP – Composition of 2023, By Sector of Origin
Figure 75: France Export and Import Value & Volume, 2023-2024 ($)
Figure 76: Netherlands Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 77: Netherlands GDP and Population, 2023-2024 ($)
Figure 78: Netherlands GDP – Composition of 2023, By Sector of Origin
Figure 79: Netherlands Export and Import Value & Volume, 2023-2024 ($)
Figure 80: Belgium Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 81: Belgium GDP and Population, 2023-2024 ($)
Figure 82: Belgium GDP – Composition of 2023, By Sector of Origin
Figure 83: Belgium Export and Import Value & Volume, 2023-2024 ($)
Figure 84: Spain Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 85: Spain GDP and Population, 2023-2024 ($)
Figure 86: Spain GDP – Composition of 2023, By Sector of Origin
Figure 87: Spain Export and Import Value & Volume, 2023-2024 ($)
Figure 88: Denmark Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 89: Denmark GDP and Population, 2023-2024 ($)
Figure 90: Denmark GDP – Composition of 2023, By Sector of Origin
Figure 91: Denmark Export and Import Value & Volume, 2023-2024 ($)
Figure 92: APAC Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 93: China Farm Equipment Market Value & Volume, 2023-2030
Figure 94: China GDP and Population, 2023-2024 ($)
Figure 95: China GDP – Composition of 2023, By Sector of Origin
Figure 96: China Export and Import Value & Volume, 2023-2024 ($) Farm Equipment Market China Export and Import Value & Volume, 2023-2024 ($)
Figure 97: Australia Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 98: Australia GDP and Population, 2023-2024 ($)
Figure 99: Australia GDP – Composition of 2023, By Sector of Origin
Figure 100: Australia Export and Import Value & Volume, 2023-2024 ($)
Figure 101: South Korea Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 102: South Korea GDP and Population, 2023-2024 ($)
Figure 103: South Korea GDP – Composition of 2023, By Sector of Origin
Figure 104: South Korea Export and Import Value & Volume, 2023-2024 ($)
Figure 105: India Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 106: India GDP and Population, 2023-2024 ($)
Figure 107: India GDP – Composition of 2023, By Sector of Origin
Figure 108: India Export and Import Value & Volume, 2023-2024 ($)
Figure 109: Taiwan Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 110: Taiwan GDP and Population, 2023-2024 ($)
Figure 111: Taiwan GDP – Composition of 2023, By Sector of Origin
Figure 112: Taiwan Export and Import Value & Volume, 2023-2024 ($)
Figure 113: Malaysia Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 114: Malaysia GDP and Population, 2023-2024 ($)
Figure 115: Malaysia GDP – Composition of 2023, By Sector of Origin
Figure 116: Malaysia Export and Import Value & Volume, 2023-2024 ($)
Figure 117: Hong Kong Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 118: Hong Kong GDP and Population, 2023-2024 ($)
Figure 119: Hong Kong GDP – Composition of 2023, By Sector of Origin
Figure 120: Hong Kong Export and Import Value & Volume, 2023-2024 ($)
Figure 121: Middle East & Africa Farm Equipment Market Middle East & Africa 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 122: Russia Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 123: Russia GDP and Population, 2023-2024 ($)
Figure 124: Russia GDP – Composition of 2023, By Sector of Origin
Figure 125: Russia Export and Import Value & Volume, 2023-2024 ($)
Figure 126: Israel Farm Equipment Market Value & Volume, 2023-2030 ($)
Figure 127: Israel GDP and Population, 2023-2024 ($)
Figure 128: Israel GDP – Composition of 2023, By Sector of Origin
Figure 129: Israel Export and Import Value & Volume, 2023-2024 ($)
Figure 130: Entropy Share, By Strategies, 2023-2024* (%) Farm Equipment Market
Figure 131: Developments, 2023-2024* Farm Equipment Market
Figure 132: Company 1 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 133: Company 1 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 134: Company 1 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 135: Company 2 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 136: Company 2 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 137: Company 2 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 138: Company 3 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 139: Company 3 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 140: Company 3 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 141: Company 4 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 142: Company 4 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 143: Company 4 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 144: Company 5 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 145: Company 5 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 146: Company 5 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 147: Company 6 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 148: Company 6 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 149: Company 6 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 150: Company 7 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 151: Company 7 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 152: Company 7 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 153: Company 8 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 154: Company 8 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 155: Company 8 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 156: Company 9 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 157: Company 9 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 158: Company 9 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 159: Company 10 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 160: Company 10 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 161: Company 10 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 162: Company 11 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 163: Company 11 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 164: Company 11 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 165: Company 12 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 166: Company 12 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 167: Company 12 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 168: Company 13 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 169: Company 13 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 170: Company 13 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 171: Company 14 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 172: Company 14 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 173: Company 14 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)
Figure 174: Company 15 Farm Equipment Market Net Revenue, By Years, 2023-2024* ($)
Figure 175: Company 15 Farm Equipment Market Net Revenue Share, By Business segments, 2023 (%)
Figure 176: Company 15 Farm Equipment Market Net Sales Share, By Geography, 2023 (%)