Agriculture Equipment Market by Type (Tractors, Harvesting Equipment, Irrigation Equipment), Mode of Operation (Manual, Automatic), Power Source (Electric Equipment), Application (Sowing, Crop Protection, Harvesting, Irrigation) – Global Forecast to 2030
Redding, California, July 04, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘Agriculture Equipment Market by Type (Tractors, Harvesting Equipment, Irrigation Equipment), Mode of Operation (Manual, Automatic), Power Source (Electric Equipment), Application (Sowing, Crop Protection, Harvesting, Irrigation)- Global Forecast to 2030,’ published by Meticulous Research®, the agriculture equipment market is projected to reach $199.7 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.
Agriculture equipment is the machinery and tools designed to perform various agricultural tasks, including land preparation, planting, cultivation, and harvesting of agricultural produce. It includes a wide range of machinery, such as tractors, harvesters, seeders, sprayers, irrigation systems, and grain-handling equipment. The stakeholders in this market are manufacturers, distributors, dealers, and end-users of agricultural equipment.
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OEMs (original agriculture equipment manufacturers) are in the business of designing, producing, and marketing their brand of agricultural machinery and equipment. The revenue from OEMs across the globe is included in the market size for agricultural equipment.
In the report, autonomous agriculture equipment refers to machinery and equipment capable of performing agricultural tasks without human intervention. These advanced machines leverage technologies such as GPS, sensors, artificial intelligence, and robotics to carry out operations like planting, spraying, and harvesting with high precision and efficiency.
The global agriculture equipment market is segmented by type (tractors, harvesting equipment, soil preparation & cultivation equipment, irrigation equipment, spraying equipment, and other agriculture equipment), mode of operation (semi-automatic, manual, automatic), power source (non-electric powered agriculture equipment, electric-powered agriculture equipment) application (land development & seedbed preparation, harvesting & threshing, irrigation, sowing & planting, crop protection, other applications) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets. The study also evaluates industry competitors and analyzes the regional and country-level markets.
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The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past five years (2019–2023). The agriculture equipment market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the agriculture equipment market are AGCO Corporation (U.S.), Agromaster (Turkey), AMAZONEN-WERKE H. DREYER SE & Co. KG (Germany), APV – Technische Produkte GmbH (Austria), CLAAS KGaA mbH (Germany), CNH Industrial N.V. (U.K.), Deere & Company (U.S.), HORSCH Maschinen GmbH (Germany), ISEKI & CO., LTD. (Japan), KUBOTA Corporation (Japan), KUHN SAS (France), Mahindra & Mahindra Ltd. (India), Mascar SpA (Italy), Morris Equipment Ltd (Canada), SDF S.p.A. (Italy), Väderstad AB (Sweden) and Valmont Industries, Inc. (U.S.).
Key Findings in the Global Agriculture Equipment Market Study:
Based on type, the agriculture equipment market is mainly segmented into Tractors, Harvesting Equipment, Soil Preparation & Cultivation Equipment, Irrigation Equipment, Spraying Equipment, and Other Agriculture Equipment. In 2023, the Tractors segment is expected to account for the largest share of the global agriculture equipment market. The large market share of this segment is mainly attributed to factors such as the rising mechanization and adoption of precision farming, rising labor shortage, rising income of farmers, supportive government initiatives aimed at improving the agricultural sector, and technological advancement in tractors.
Based on mode of operation, the global agriculture equipment market is segmented into semi-automatic, manual, and automatic. The automatic segment is projected to register the highest CAGR during the forecast period of 2023–2030, owing to technological advancements in agricultural equipment, growing adoption of precision agriculture, and acute shortages of skilled laborers/workers in the agriculture sector worldwide. In addition, the ongoing trend of vertical agriculture and the rising use of artificial intelligence and robotics technologies in the agriculture sectors are further expected to provide opportunities for the stakeholders operating in this market.
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Based on power source, the global agriculture equipment market is segmented into non-electric and electric-powered agriculture equipment. The electric-powered agriculture equipment segment is projected to register the highest CAGR during the forecast period of 2023–2030. The growth of this segment is driven by the rising demand for renewable energy sources, the increasing need for electricity in developed and developing countries, and the growing adoption of automation and robotics in the agriculture industry.
Based on application, the agriculture equipment market is mainly segmented into land development and seedbed preparation, harvesting & threshing, irrigation, sowing & planting, crop protection, and other applications. In 2023, the land development & seed bed preparation segment is expected to account for the larger share of the global agriculture equipment market. The large market share of this segment is mainly attributed to factors such as the increasing adoption of advanced cultivation techniques to reduce labor costs, the availability of technologically advanced equipment, and the benefits offered by advanced agricultural equipment during land development and seedbed preparation, such as high productivity and efficiency.
Based on geography, the global agriculture equipment market is majorly segmented into five regions, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global agriculture equipment market. The large share of this market is mainly attributed to the rising inclination towards mechanization and precision farming and the rising per capita income of the farmers in the region. Furthermore, the availability of loans and subsidies for purchasing agricultural equipment drives the growth of this regional market.
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Scope of the Report:
Agriculture Equipment Market Assessment, by Type
Agriculture Equipment Market Assessment, by Mode of Operation
Agriculture Equipment Market Assessment, by Power Source
Agriculture Equipment Market Assessment, by Application
Agriculture Equipment Market Assessment, by Geography
Rest of Europe (RoE)
Middle East and Africa
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Autonomous Tractors Market by Type (Fully Autonomous, Semi-Autonomous Tractors), Component (LiDAR, Radar, Ultrasonic Sensors, GPS), Power Output (Up to 30 HP, 31–100 HP, 101 HP & Above), Application (Tillage, Seed Sowing, Harvesting) – Global Forecast to 2029
Irrigation Equipment Market by Type (Drip Irrigation, Sprinkler Irrigation, Pivot Irrigation), Product (Drip Emitter/Drippers, Tubing, Irrigation Valve, Filters, Sprinklers, Controllers), Application (Agricultural, Non-agricultural) – Global Forecast to 2029
Agriculture Drone Market by Product (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), and Geography – Global Forecast to 2025
Micro Irrigation Systems Market by Type (Sprinkler, Drip), Component (Drippers, Polyethylene Tubing, Irrigation Valve, Filters), Crop Type (Plantation Crops, Orchard Crops, Field Crops), Application (Farmers, Government), and Geography- Global Forecast to 2025
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