Agriculture Equipment Market to Attain Revenue of US$ 565.8 Billion by 2032 | Astute Analytica

The agricultural equipment market is experiencing a significant shift, fueled by advancements in technology, evolving farming practices, and the growing demand for enhanced efficiency and sustainability.

New Delhi, Feb. 07, 2025 (GLOBE NEWSWIRE) — As detailed in the latest research from Astute Analytica, the global agriculture equipment market was valued at US$ 269.3 billion in 2023 and is projected to reach a market valuation of US$ 565.8 billion by 2032 at a CAGR of 8.6% during the forecast period 2024-2032.

As the global population continues to rise, the demand for food is expected to increase significantly, placing immense pressure on farmers to produce more crops. By 2040, the world population is projected to add just over a billion people, creating an additional demand for food that is not currently being met. Under a medium-population growth scenario, agricultural production will need to escalate to approximately 14,060 trillion crop calories to nourish an estimated 9.7 billion people by 2050. This figure represents a staggering 47 percent increase in crop calories compared to levels recorded in 2011.

Request Free Sample PDF Copy @ https://www.astuteanalytica.com/request-sample/agriculture-equipment-market

In a more extreme scenario with high population growth, the demand could surge to 15,410 trillion crop calories to support a population of 10.8 billion, marking a 61-percent increase from the 2011 baseline. Such projections underscore the urgent need for farmers to enhance their efficiency regarding land use and the selection of machinery, as the escalating demand for agricultural products is forecasted to drive a surge in demand for agricultural equipment in the near future.

In response to this growing food demand, governments across the globe have begun to recognize the critical importance of agricultural mechanization within the agricultural equipment market. For instance, India has made significant strides in this area by allocating $2 billion in subsidies for agricultural mechanization in 2023. This financial support is part of a broader effort to enhance productivity and sustainability in the agricultural sector.

Additionally, the Indian government has introduced short-term agricultural loans of up to INR 3 lakhs, which come with a 7% annual interest rate and a 3% subvention for timely repayments. Such initiatives are designed to make it easier for farmers to invest in modern equipment and technologies that can help them meet the rising food demands.

Adoption of Tech-Driven Agriculture Machineries Transforming Global Agriculture Industry

The integration of automation and robotics has become increasingly prominent in agriculture, particularly within the agricultural equipment markets of North America and Europe. This trend has emerged largely in response to significant challenges such as labor shortages and rising operational costs that farmers are currently facing.

In Europe, certain occupations have been identified as critically short, with severe shortages reported for roles such as heavy truck drivers and construction laborers. These labor issues have led to a pressing need for innovative solutions that can help mitigate the impact of these shortages on agricultural productivity. To address these challenges, automation, and robotics are being progressively incorporated into various agricultural tools and equipment.

This shift includes the use of autonomous tractors, robotic harvesters, and automated milking systems, which collectively enhance operational efficiency. The deployment of such advanced machinery is proving to be a game-changer in enhancing the productivity and sustainability of agricultural practices.

In India, a similar push for technological advancement is underway, with the government encouraging states to adopt tech-driven initiatives designed to improve farm production estimates. By advocating for the implementation of digital surveys and other advanced technologies, the aim is to enhance the efficiency of data collection processes. This approach not only minimizes discrepancies in agricultural data but also supports informed policy-making in the sector. The emphasis on data-driven decision-making is expected to lead to more effective strategies that can significantly boost agricultural output.

Moreover, the synergy between cutting-edge agricultural machinery and precision agriculture technologies is opening up new avenues for optimizing farm operations. Astute Analytica recognizes this integration as a pivotal element for the future of farming. As automation and technology continue to reshape the agricultural landscape, the potential for improved outcomes for farmers and consumers becomes increasingly promising.

Harvesting and Threshing Equipment Leads, Holding More Than Half of the Revenue Share

Harvesting and threshing equipment is undeniably a vital component of the agricultural equipment market, accounting for an impressive 57.1% revenue share in the global market as of 2023. This significant share highlights the essential functions that these machines perform in modern agriculture. Their primary purpose is to enhance crop yields and improve operational efficiency, which are critical in meeting the food demands of an ever-growing world population. As agricultural practices evolve, the necessity for reliable and effective harvesting and threshing solutions becomes increasingly paramount.

The urgency to maximize crop yield is further intensified by the rapid increase in global populations. With more mouths to feed, farmers are under immense pressure to produce higher quantities of food. This demand is a key driver behind the rising need for advanced harvesting and threshing equipment. These machines are designed to streamline the harvesting process, reduce labor costs, and minimize crop losses during collection. As a result, the agricultural sector is turning toward more sophisticated technologies that can help achieve these goals.

Given the capital-intensive nature of harvesting and threshing machinery, it is not surprising that their substantial revenue contribution is expected to continue. Farmers and agricultural businesses recognize the long-term benefits of investing in high-quality equipment that can enhance productivity and efficiency. Such investments not only support immediate yield improvements but also contribute to the sustainability of agricultural practices in the face of growing global food demands.

Asia Pacific: Major Region to Dominate the Agriculture Machinery Market

Asia Pacific is anticipated to account for a remarkable 66% of the revenue share in the agricultural sector. This region is home to some of the world’s most populous countries, notably China and India, both of which possess extensive agricultural land. Over 60% of India’s economic activities are supported by agriculture, largely because its large population relies on farming for its livelihood. The sheer scale of agricultural practices in these countries indicates the profound impact they have on both local and global markets.

To enhance agricultural productivity and sustainability, governments in the Asia Pacific region have been actively implementing policies and providing subsidies designed to integrate advanced agricultural technologies. A notable example of this initiative is in India, where the Punjab Agriculture and Farmers Welfare Department has reopened its portal for farmers. This initiative is aimed at facilitating access to subsidies for the procurement of Crop Residue Management (CRM) machines, which are essential for the effective management of paddy straw.

In the Asia-Pacific region, several major manufacturers and suppliers of agricultural equipment have established a significant presence. Companies such as Mahindra & Mahindra Ltd., Kubota Corporation, Escorts Limited, CNH Industrial N.V., and Yanmar Co., Ltd. are leading players in this market. These firms not only contribute to the local economy but also play a vital role in advancing agricultural practices through innovation and the provision of high-quality equipment. Their efforts are essential in addressing the growing demands of the agricultural sector in a region that is poised for substantial growth and development.

Top Players in Global Agriculture Equipment Market 

• AGCO Corporation
• Bellota
• China National Machinery Industry Corporation Ltd.
• CLAAS KGaA MBH
• CNH Industrial N.V.
• Deere & Company
• Escorts Limited
• Horsch Maschinen GmbH
• J.C. Bamford Excavators Ltd.
• Kubota Corporation
• Mahindra & Mahindra Ltd.
• MARUYAMA MFg., Co.Inc.
• Maschio Gaspardo S.P.A.
• Mater Macc S.p.A.
• Morris Industries Ltd.
• SDF S.p.A.
• TAFE
• Valmont Industries, Inc.
• Other Prominent Players

Market Segmentation Overview

By Equipment Type 

• Soil Cultivation Machinery

• • Cultivator

• • Cultipacker

• • Plough

• • Rotary Tiller

• • Harrow

• • Others

• Planting Machinery

• • Seed Drill

• • Broadcast Seeder

• • Seed cum fertilizer Drill

• • Fertilizing & Pest Control Machinery

• • Manure Spreader

• • Slurry Tank

• • Sprayer

• Irrigation Equipment

• • Centrifugal Pumps

• • Sprinklers

• • Others

• Harvesting & Threshing Equipment

• • Combine Harvester

• • Sickle

• • Mower

• • Reaper

• • Threshers

• • Tractors

• • Others

By Power Output

• <30 HP
• 31-70 HP
• 71-130 HP
• 131-250 HP
• >250 HP

By Drive Type

• Two-Wheel Drive
• Four-Wheel Drive

By Application

• Land Development & Seed Bed Preparation
• Sowing & Planting
• Weed Cultivation
• Plant Protection
• Harvesting & Threshing
• Post-Harvest & Agro Processing

By Distribution Channel

• OEM
• Aftermarket

By Region

• North America
• Europe
• Asia Pacific 
• Middle East & Africa
• South America

For more information about this report visit: https://www.astuteanalytica.com/industry-report/agriculture-equipment-market

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Contact Us:
Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: [email protected]
Website: https://www.astuteanalytica.com/
LinkedIn | Twitter | YouTube

CONTACT: Contact Us:
Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: [email protected]
Website: https://www.astuteanalytica.com/