The Global Agricultural Equipment Market is projected to grow at a CAGR of 6.85% from 2024 to 2031, according to a new report published by Verified Market Reports. The report reveals that the market was valued at USD 5.61 Billion in 2024 and is expected to reach USD 301.81 Billion by the end of the forecast period.
The Agricultural Equipment Market is experiencing robust growth driven by several key factors, primarily the increasing global demand for food coupled with the need for enhanced agricultural productivity. As populations expand and dietary preferences evolve, there is a corresponding rise in the demand for agricultural products. This trend necessitates higher efficiency and productivity in farming practices, which in turn fuels the demand for advanced agricultural equipment.
Scope Of The Report
ATTRIBUTES DETAILS STUDY PERIOD 2021-2030 BASE YEAR 2023 FORECAST PERIOD 2024-2030 HISTORICAL PERIOD 2021-2022 UNIT VALUE (USD BILLION) KEY COMPANIES PROFILED John Deere, CNH, AGCO, Claas, Same Deutz-Fahr, YTO Grouporation, Foton Lovol International Heavy Industry, Changzhou Dongfengricultural Machinery Group, Shandong Changlin Machinery Group, Jiangsu Changfa Group SEGMENTS COVERED By Type – Harvesting Machinery, Planting & Fertilizing Machinery, Haying Machinery, Livestock Machinery
By Application – Farm, Forest Farm, Other
By Geography – North America, Europe, APAC, Middle East Asia & Rest Of World.
Agricultural Equipment Market Overview
Agricultural Equipment Market Key Players Shaping the Future
Major players, including John Deere, CNH, AGCO, Claas, Same Deutz-Fahr, YTO Grouporation, Foton Lovol International Heavy Industry, Changzhou Dongfengricultural Machinery Group, Shandong Changlin Machinery Group, Jiangsu Changfa Group and more, play a pivotal role in shaping the future of the Agricultural Equipment Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
To get market data, market insights, and a comprehensive analysis of the Global Agricultural Equipment Market, please Contact Verified Market Reports
Agricultural Equipment Market Segment Analysis
Market Segment Analysis Market is segmented on the basis of By Type, By Application And By Geography
By Type
By Application
By Geography
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Agricultural equipment refers to machinery used in farming and agriculture, including tools for planting, harvesting, and processing crops.
CAGR stands for Compound Annual Growth Rate, which represents the mean annual growth rate of an investment over a specified time period.
Precision agriculture is a farming management concept that uses technology to monitor and manage field variability in crops to improve yield and efficiency.
Key players include major companies like John Deere, CNH Industrial, AGCO Corporation, and Kubota Corporation that dominate the agricultural equipment sector.
Challenges include high initial investment costs, varying farm sizes, and economic conditions that affect equipment adoption rates.
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