- The government subsidies to promote the agricultural sector will drive the agricultural machinery market's growth.
- The increased popularity of small tractors is one of the key agricultural machinery market trends that is expected to impact the industry positively in the forecast period.
- One of the key challenges to the global agricultural machinery market growth is the availability of agricultural tractors on a rental basis.
View market report outlook to learn more about factors influencing the market.
Vendor Insights
The report identifies the following as the dominant players in the market:
- AGCO Corp.
- Agrale SA
- Bucher Industries AG
- CHANGFA GROUP
- Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.
- CLAAS Group
- CNH Industrial NV
- Daedong Corp.
- Deere and Co.
- Escorts Ltd.
- HORSCH Maschinen GmbH
- ISEKI and Co. Ltd.
- Kubota Corp.
- Mahindra and Mahindra Ltd.
- SDF SpA
- Sonalika International Tractors Ltd.
- Weichei Lovol Heavy Industry Co. Ltd.
- Yanmar Holdings Co. Ltd.
- China National Machinery Industry Corp. Ltd.
- J C Bamford Excavators Ltd.
Product Insights and News
The agricultural machinery market forecast report offers insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For example, AGCO Corp., a leading vendor offers agricultural machinery including articulated four-wheel-drive tractors which provide farmers with the highest level of productivity in large acreage enterprises. In addition, in December 2021, the company acquired Appareo Systems LLC, a leader in software engineering, hardware development, and electronic manufacturing.
Learn more about the other dominant vendors as you download your sample copy.
Product Segmentation
The tractors segment emerged as the largest revenue-generating product segment of agricultural machinery market. The agriculture machinery market is dominated by the sale of products such as tractors, harvesting machinery, parts and attachments, planting and fertilizing machinery, and plowing and cultivating machinery. Owing to the application in farming activities such as plowing, tilling, harrowing, leveling, and weed control, this demand for tractors will contribute to a significant market share of the agriculture machinery market during the forecast period.
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Agricultural Machinery Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.87% |
Market growth 2022-2026 |
$ 45.98 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.6 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key consumer countries |
US, China, India, Indonesia, and Brazil |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AGCO Corp., Agrale SA, Bucher Industries AG, CHANGFA GROUP, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., CLAAS Group, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Weichei Lovol Heavy Industry Co. Ltd., Yanmar Holdings Co. Ltd., China National Machinery Industry Corp. Ltd., and J C Bamford Excavators Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Unlock the scope of this market report while you Download your sample copy.
Pandemic Impact
The outbreak of COVID-19 in 2020 severely affected the agricultural sector. Lockdowns were introduced to control the spread of the disease, which further caused the closure of manufacturing facilities and disruptions in supply chains. The restrictions negatively impacted crop production, decreasing the demand for agricultural machinery and resulting in low sales. However, policies and initiatives by various governments are expected to improve growth and aid in market recovery.
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Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Tractors - Market size and forecast 2021-2026
- Exhibit 28: Chart on Tractors - Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Tractors - Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Tractors - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Tractors - Year-over-year growth 2021-2026 (%)
- 5.4 Harvesting machinery - Market size and forecast 2021-2026
- Exhibit 32: Chart on Harvesting machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Harvesting machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Harvesting machinery - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Harvesting machinery - Year-over-year growth 2021-2026 (%)
- 5.5 Parts and attachments - Market size and forecast 2021-2026
- Exhibit 36: Chart on Parts and attachments - Market size and forecast 2021-2026 ($ billion)
- Exhibit 37: Data Table on Parts and attachments - Market size and forecast 2021-2026 ($ billion)
- Exhibit 38: Chart on Parts and attachments - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Parts and attachments - Year-over-year growth 2021-2026 (%)
- 5.6 Planting and fertilizing machinery - Market size and forecast 2021-2026
- Exhibit 40: Chart on Planting and fertilizing machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 41: Data Table on Planting and fertilizing machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 42: Chart on Planting and fertilizing machinery - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Planting and fertilizing machinery - Year-over-year growth 2021-2026 (%)
- 5.7 Plowing and cultivating machinery - Market size and forecast 2021-2026
- Exhibit 44: Chart on Plowing and cultivating machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 45: Data Table on Plowing and cultivating machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 46: Chart on Plowing and cultivating machinery - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Plowing and cultivating machinery - Year-over-year growth 2021-2026 (%)
- 5.8 Haying machinery - Market size and forecast 2021-2026
- Exhibit 48: Chart on Haying machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 49: Data Table on Haying machinery - Market size and forecast 2021-2026 ($ billion)
- Exhibit 50: Chart on Haying machinery - Year-over-year growth 2021-2026 (%)
- Exhibit 51: Data Table on Haying machinery - Year-over-year growth 2021-2026 (%)
- 5.9 Market opportunity by Product
- Exhibit 52: Market opportunity by Product ($ billion)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 53: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 54: Chart on Market share by geography 2021-2026 (%)
- Exhibit 55: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 56: Chart on Geographic comparison
- Exhibit 57: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 North America - Market size and forecast 2021-2026
- Exhibit 66: Chart on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 70: Chart on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 74: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 82: Chart on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 83: Data Table on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 84: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 India - Market size and forecast 2021-2026
- Exhibit 86: Chart on India - Market size and forecast 2021-2026 ($ billion)
- Exhibit 87: Data Table on India - Market size and forecast 2021-2026 ($ billion)
- Exhibit 88: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.11 Indonesia - Market size and forecast 2021-2026
- Exhibit 90: Chart on Indonesia - Market size and forecast 2021-2026 ($ billion)
- Exhibit 91: Data Table on Indonesia - Market size and forecast 2021-2026 ($ billion)
- Exhibit 92: Chart on Indonesia - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Indonesia - Year-over-year growth 2021-2026 (%)
- 7.12 Brazil - Market size and forecast 2021-2026
- Exhibit 94: Chart on Brazil - Market size and forecast 2021-2026 ($ billion)
- Exhibit 95: Data Table on Brazil - Market size and forecast 2021-2026 ($ billion)
- Exhibit 96: Chart on Brazil - Year-over-year growth 2021-2026 (%)
- Exhibit 97: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 98: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 99: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 101: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 102: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 103: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 104: Matrix on vendor position and classification
- 10.3 AGCO Corp.
- Exhibit 105: AGCO Corp. - Overview
- Exhibit 106: AGCO Corp. - Business segments
- Exhibit 107: AGCO Corp. - Key news
- Exhibit 108: AGCO Corp. - Key offerings
- Exhibit 109: AGCO Corp. - Segment focus
- 10.4 CHANGFA GROUP
- Exhibit 110: CHANGFA GROUP - Overview
- Exhibit 111: CHANGFA GROUP - Product / Service
- Exhibit 112: CHANGFA GROUP - Key offerings
- 10.5 Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.
- Exhibit 113: Changzhou Dongfeng Agricultural Machinery Group Co. Ltd. - Overview
- Exhibit 114: Changzhou Dongfeng Agricultural Machinery Group Co. Ltd. - Product / Service
- Exhibit 115: Changzhou Dongfeng Agricultural Machinery Group Co. Ltd. - Key offerings
- 10.6 CLAAS Group
- Exhibit 116: CLAAS Group - Overview
- Exhibit 117: CLAAS Group - Product / Service
- Exhibit 118: CLAAS Group - Key news
- Exhibit 119: CLAAS Group - Key offerings
- 10.7 CNH Industrial NV
- Exhibit 120: CNH Industrial NV - Overview
- Exhibit 121: CNH Industrial NV - Business segments
- Exhibit 122: CNH Industrial NV - Key news
- Exhibit 123: CNH Industrial NV - Key offerings
- Exhibit 124: CNH Industrial NV - Segment focus
- 10.8 Daedong Corp.
- Exhibit 125: Daedong Corp. - Overview
- Exhibit 126: Daedong Corp. - Product / Service
- Exhibit 127: Daedong Corp. - Key offerings
- 10.9 Deere and Co.
- Exhibit 128: Deere and Co. - Overview
- Exhibit 129: Deere and Co. - Business segments
- Exhibit 130: Deere and Co. - Key news
- Exhibit 131: Deere and Co. - Key offerings
- Exhibit 132: Deere and Co. - Segment focus
- 10.10 Kubota Corp.
- Exhibit 133: Kubota Corp. - Overview
- Exhibit 134: Kubota Corp. - Business segments
- Exhibit 135: Kubota Corp. - Key news
- Exhibit 136: Kubota Corp. - Key offerings
- Exhibit 137: Kubota Corp. - Segment focus
- 10.11 Mahindra and Mahindra Ltd.
- Exhibit 138: Mahindra and Mahindra Ltd. - Overview
- Exhibit 139: Mahindra and Mahindra Ltd. - Business segments
- Exhibit 140: Mahindra and Mahindra Ltd. - Key news
- Exhibit 141: Mahindra and Mahindra Ltd. - Key offerings
- Exhibit 142: Mahindra and Mahindra Ltd. - Segment focus
- 10.12 SDF SpA
- Exhibit 143: SDF SpA - Overview
- Exhibit 144: SDF SpA - Product / Service
- Exhibit 145: SDF SpA - Key offerings
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 146: Inclusions checklist
- Exhibit 147: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 148: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 149: Research methodology
- Exhibit 150: Validation techniques employed for market sizing
- Exhibit 151: Information sources
- 11.5 List of abbreviations
- Exhibit 152: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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