Farm Equipment Market to record USD 33.65 Bn growth; Evolving Opportunities with AGCO Corp. and Argo Tractors Spa

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Sep 27, 2022, 18:45 ET

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- The farm equipment market size is expected to grow by USD 33.65 billion between 2021 and 2026, accelerating at a CAGR of 4.96% during the forecast period. The report considers various factors including the revenue generated by vendors, dealer sales of agricultural agriculture and farm machinery, government initiatives and subsidies for agriculture, the share of agriculture in GDP, and farm mechanization rate among others to estimate the size of the market. Download PDF Report Sample

Technavio has announced its latest market research report titled Global Farm Equipment Market 2022-2026

The market is driven by the expansion of arable land. Countries such as India, China, Sub-Saharan Africa, South America, and the Caribbean have witnessed an increase in the availability of arable land over recent years. In Sub-Saharan Africa, the arable land is expected to increase from 262 million hectares in 2015 to 288 million hectares by 2030. This can be attributed to the increasing demand for food, which is compelling farmers to expand the cultivation area. All these factors are increasing the demand for farm equipment, which is fostering the growth of the market in focus.

In addition, the rising deployment of equipment and technologies for precision farming is anticipated to further boost the growth of the farm equipment market. However, rapidly changing emission norms and mandates will reduce the growth potential in the market.

Vendor Landscape:

The global farm equipment market is highly fragmented due to the presence of numerous global and regional vendors. Vendors compete among themselves as they try to increase their market shares. Players in the market are competing by providing differentiated products either based on quality or service. Existing vendors in the market focus on increasing their consumer base to increase their market shares. Key players undertake strategies such as new product launches, research and development (R&D), expansions, partnerships, contracts, and acquisitions to increase their market share.

Several vendors in the market are investing significantly in R&D, which increases the competitive intensity. However, the market involves high operating costs for vendors. Thus, it is dominated by large players that are equal in size. Therefore, the global farm equipment market is expected to witness high competition during the forecast period. Technavio identifies the following as dominant players in the market.

AGCO Corp.
Argo Tractors Spa
Brohawk exports
Bucher Industries AG
CLAAS KGaA mbH
CNH Industrial NV
Deere and Co.
Duravant LLC
ISEKI and Co. Ltd.
J C Bamford Excavators Ltd
Kubota Corp.
LEMKEN GmbH and Co. KG
Mahindra and Mahindra Ltd.
Maschio Gaspardo Spa
SDF SpA
Sitrex spa
Sonalika International Tractors Ltd.
Vaderstad AB
VST Tillers Tractors Ltd.
Yanmar Holdings Co. Ltd.

Farm Equipment Market Product Outlook (Revenue, USD Billion, 2021-2026)

Implement - size and forecast 2021-2026
Combines - size and forecast 2021-2026
Sprayer - size and forecast 2021-2026
Bale - size and forecast 2021-2026

The market growth in the implement segment will be significant over the forecast period. The rising preference for more sophisticated, larger, and more powerful models is driving the growth of the segment.

Farm Equipment Market Geography Outlook (Revenue, USD Billion, 2021-2026)

APAC - size and forecast 2021-2026
North America - size and forecast 2021-2026
Europe - size and forecast 2021-2026
South America - size and forecast 2021-2026
The Middle East and Africa - size and forecast 2021-2026

The market will observe significant growth in APAC during the forecast period. The increasing government initiatives to support sustainable agriculture practices is the key factor driving the growth of the regional market.

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Farm Equipment Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.96%
Market growth 2022-2026	USD 33.65 billion
Market structure	Fragmented
YoY growth (%)	4.5
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 46%
Key consumer countries	US, China, Australia, India, France, and Brazil
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	AGCO Corp., Argo Tractors Spa, Brohawk exports, Bucher Industries AG, CLAAS KGaA mbH, CNH Industrial NV, Deere and Co., Duravant LLC, ISEKI and Co. Ltd., J C Bamford Excavators Ltd, Kubota Corp., LEMKEN GmbH and Co. KG, Mahindra and Mahindra Ltd., Maschio Gaspardo Spa, SDF SpA, Sitrex spa, Sonalika International Tractors Ltd., Vaderstad AB, VST Tillers Tractors Ltd., and Yanmar Holdings Co. Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for 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.

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

3.3 Market size 2021

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: Chart on Bargaining power of buyers – Impact of key factors 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 Implement - Market size and forecast 2021-2026

Exhibit 28: Chart on Implement - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on Implement - Market size and forecast 2021-2026 ($ billion)
Exhibit 30: Chart on Implement - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Implement - Year-over-year growth 2021-2026 (%)

5.4 Combines - Market size and forecast 2021-2026

Exhibit 32: Chart on Combines - Market size and forecast 2021-2026 ($ billion)
Exhibit 33: Data Table on Combines - Market size and forecast 2021-2026 ($ billion)
Exhibit 34: Chart on Combines - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Combines - Year-over-year growth 2021-2026 (%)

5.5 Sprayer - Market size and forecast 2021-2026

Exhibit 36: Chart on Sprayer - Market size and forecast 2021-2026 ($ billion)
Exhibit 37: Data Table on Sprayer - Market size and forecast 2021-2026 ($ billion)
Exhibit 38: Chart on Sprayer - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Sprayer - Year-over-year growth 2021-2026 (%)

5.6 Baler - Market size and forecast 2021-2026

Exhibit 40: Chart on Baler - Market size and forecast 2021-2026 ($ billion)
Exhibit 41: Data Table on Baler - Market size and forecast 2021-2026 ($ billion)
Exhibit 42: Chart on Baler - Year-over-year growth 2021-2026 (%)
Exhibit 43: Data Table on Baler - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Product

Exhibit 44: Market opportunity by Product ($ billion)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 46: Chart on Market share by geography 2021-2026 (%)
Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 48: Chart on Geographic comparison
Exhibit 49: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026

Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026

Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026

Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ billion)
Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ billion)
Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Australia - Market size and forecast 2021-2026

Exhibit 78: Chart on Australia - Market size and forecast 2021-2026 ($ billion)
Exhibit 79: Data Table on Australia - Market size and forecast 2021-2026 ($ billion)
Exhibit 80: Chart on Australia - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Australia - Year-over-year growth 2021-2026 (%)

7.11 Brazil - Market size and forecast 2021-2026

Exhibit 82: Chart on Brazil - Market size and forecast 2021-2026 ($ billion)
Exhibit 83: Data Table on Brazil - Market size and forecast 2021-2026 ($ billion)
Exhibit 84: Chart on Brazil - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Brazil - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026

Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ billion)
Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ billion)
Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 India - Market size and forecast 2021-2026

Exhibit 90: Chart on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 91: Data Table on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 92: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 93: Data Table on India - Year-over-year growth 2021-2026 (%)

7.14 Market opportunity by geography

Exhibit 94: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 95: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 96: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 97: Overview on factors of disruption

9.4 Industry risks

Exhibit 98: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 99: Vendors covered

10.2 Market positioning of vendors

Exhibit 100: Matrix on vendor position and classification

10.3 AGCO Corp.

Exhibit 101: AGCO Corp. - Overview
Exhibit 102: AGCO Corp. - Business segments
Exhibit 103: AGCO Corp. - Key news
Exhibit 104: AGCO Corp. - Key offerings
Exhibit 105: AGCO Corp. - Segment focus

10.4 Bucher Industries AG

Exhibit 106: Bucher Industries AG - Overview
Exhibit 107: Bucher Industries AG - Business segments
Exhibit 108: Bucher Industries AG - Key offerings
Exhibit 109: Bucher Industries AG - Segment focus

10.5 CLAAS KGaA mbH

Exhibit 110: CLAAS KGaA mbH - Overview
Exhibit 111: CLAAS KGaA mbH - Product / Service
Exhibit 112: CLAAS KGaA mbH - Key news
Exhibit 113: CLAAS KGaA mbH - Key offerings

10.6 CNH Industrial NV

Exhibit 114: CNH Industrial NV - Overview
Exhibit 115: CNH Industrial NV - Business segments
Exhibit 116: CNH Industrial NV - Key news
Exhibit 117: CNH Industrial NV - Key offerings
Exhibit 118: CNH Industrial NV - Segment focus

10.7 Deere and Co.

Exhibit 119: Deere and Co. - Overview
Exhibit 120: Deere and Co. - Business segments
Exhibit 121: Deere and Co. - Key news
Exhibit 122: Deere and Co. - Key offerings
Exhibit 123: Deere and Co. - Segment focus

10.8 Duravant LLC

Exhibit 124: Duravant LLC - Overview
Exhibit 125: Duravant LLC - Product / Service
Exhibit 126: Duravant LLC - Key offerings

10.9 ISEKI and Co. Ltd.

Exhibit 127: ISEKI and Co. Ltd. - Overview
Exhibit 128: ISEKI and Co. Ltd. - Product / Service
Exhibit 129: ISEKI and Co. Ltd. - Key offerings

10.10 Kubota Corp.

Exhibit 130: Kubota Corp. - Overview
Exhibit 131: Kubota Corp. - Business segments
Exhibit 132: Kubota Corp. - Key news
Exhibit 133: Kubota Corp. - Key offerings
Exhibit 134: Kubota Corp. - Segment focus

10.11 Mahindra and Mahindra Ltd.

Exhibit 135: Mahindra and Mahindra Ltd. - Overview
Exhibit 136: Mahindra and Mahindra Ltd. - Business segments
Exhibit 137: Mahindra and Mahindra Ltd. - Key news
Exhibit 138: Mahindra and Mahindra Ltd. - Key offerings
Exhibit 139: Mahindra and Mahindra Ltd. - Segment focus

10.12 Yanmar Holdings Co. Ltd.

Exhibit 140: Yanmar Holdings Co. Ltd. - Overview
Exhibit 141: Yanmar Holdings Co. Ltd. - Product / Service
Exhibit 142: Yanmar Holdings Co. Ltd. - Key news
Exhibit 143: Yanmar Holdings Co. Ltd. - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 144: Inclusions checklist
Exhibit 145: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 146: Currency conversion rates for US$

11.4 Research methodology

Exhibit 147: Research methodology
Exhibit 148: Validation techniques employed for market sizing
Exhibit 149: Information sources

11.5 List of abbreviations

Exhibit 150: List of abbreviations

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