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Farm Equipment Trends and Forecast
The future of the global farm equipment market looks promising with opportunities in the plowing & cultivating, sowing & planting, plant protection & fertilizing, and harvesting and threshing markets. The global farm equipment market is expected to reach an estimated $189.6 billion by 2030 with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are government support with farm loan waivers/credit finance, OEM/sales incentives to support dealer service and rental operations, and rising R&D and adoption of electric tractors.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Farm Equipment by Segment
The study includes a forecast for the global farm equipment by power output, drive type, equipment type, function, and region
Farm Equipment Market by Power Output [Shipment Analysis by Value from 2018 to 2030]:
• <30 HP
• 31–70 HP
• 71–130 HP
• 131–250 HP
• >250 HP
Farm Equipment Market by Drive Type [Shipment Analysis by Value from 2018 to 2030]:
• Two-wheel
• Four-wheel
Farm Equipment Market by Equipment Type [Shipment Analysis by Value from 2018 to 2030]:
• Cereal Combines
• Non-Cereal Combines
• Balers
• Tractor-mounted Sprayers
• Self-propelled Sprayers
Farm Equipment Market by Function [Shipment Analysis by Value from 2018 to 2030]:
• Plowing & Cultivating
• Sowing & Planting
• Plant Protection & Fertilizing
• Harvesting & Threshing
• Others
Farm Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Farm Equipment Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies farm equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the farm equipment companies profiled in this report include-
• John Deere
• CNH Industrial
• Kubota
• CLAAS
• AGCO
Farm Equipment Market Insights
Lucintel forecast that cereal combines is expected to witness highest growth over the forecast period due to growing demand for cereal crops owing to their use in food and feed production.
Within this market, sowing & planting will remain the largest segment over the forecast period.
North America will remain the largest region over the forecast period due to growing labor costs, the combination of robotics and GPS in tractors and harvesters, the increasing need for large-scale farms to use high-capacity technology, and the growing acceptance of self-propelled vehicles in the region.
Features of the Global Farm Equipment Market
Market Size Estimates: Farm equipment market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Farm equipment market size by various segments, such as by power output, drive type, equipment type, function, and region in terms of value ($B).
Regional Analysis: Farm equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different power output, drive type, equipment type, function, and regions for the farm equipment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the farm equipment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the farm equipment market size?
Answer: The global farm equipment market is expected to reach an estimated $189.6 billion by 2030.
Q.2 What is the growth forecast for farm equipment market?
Answer: The global farm equipment market is expected to grow with a CAGR of 4.3% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the farm equipment market?
Answer: The major drivers for this market are government support with farm loan waivers/credit finance, OEM/sales incentives to support dealer service and rental operations, and rising R&D and adoption of electric tractors.
Q4. What are the major segments for farm equipment market?
Answer: The future of the global farm equipment market looks promising with opportunities in the plowing & cultivating, sowing & planting, plant protection & fertilizing, and harvesting and threshing markets.
Q5. Who are the key farm equipment market companies?
Answer: Some of the key farm equipment companies are as follows:
• John Deere
• CNH Industrial
• Kubota
• CLAAS
• AGCO
Q6. Which farm equipment market segment will be the largest in future?
Answer: Lucintel forecast that cereal combines is expected to witness highest growth over the forecast period due to growing demand for cereal crops owing to their use in food and feed production.
Q7. In farm equipment market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to growing labor costs, the combination of robotics and GPS in tractors and harvesters, the increasing need for large-scale farms to use high-capacity technology, and the growing acceptance of self-propelled vehicles in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the farm equipment market by power output (<30 hp, 31–70 hp, 71–130 hp,131–250 hp, and >250 hp), drive type (two-wheel and four-wheel), equipment type (cereal combines, non-cereal combines, balers, tractor-mounted sprayers, and self-propelled sprayers), function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to farm equipment market or related to farm equipment companies, farm equipment market size, farm equipment market share, farm equipment market growth, farm equipment market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Farm Equipment Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Farm Equipment Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Farm Equipment Market by Power Output
3.3.1: <30 HP
3.3.2: 31–70 HP
3.3.3: 71–130 HP
3.3.4: 131–250 HP
3.3.5: >250 HP
3.4: Global Farm Equipment Market by Drive Type
3.4.1: Two-wheel
3.4.2: Four-wheel
3.5: Global Farm Equipment Market by Equipment Type
3.5.1: Cereal Combines
3.5.2: Non-Cereal Combines
3.5.3: Balers
3.5.4: Tractor-mounted Sprayers
3.5.5: Self-propelled Sprayers
3.6: Global Farm Equipment Market by Function
3.6.1: Plowing & Cultivating
3.6.2: Sowing & Planting
3.6.3: Plant Protection & Fertilizing
3.6.4: Harvesting & Threshing
3.6.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Farm Equipment Market by Region
4.2: North American Farm Equipment Market
4.2.1: North American Farm Equipment Market by Equipment Type: Cereal Combines, Non-Cereal Combines, Balers, Tractor-mounted Sprayers, and Self-propelled Sprayers
4.2.2: North American Farm Equipment Market by Function: Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing, and Others
4.3: European Farm Equipment Market
4.3.1: European Farm Equipment Market by Equipment Type: Cereal Combines, Non-Cereal Combines, Balers, Tractor-mounted Sprayers, and Self-propelled Sprayers
4.3.4: European Farm Equipment Market by Function: Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing, Others,Segment 6,Segment 7,Segment 8,Segment 9
4.4: APAC Farm Equipment Market
4.4.1: APAC Farm Equipment Market by Equipment Type: Cereal Combines, Non-Cereal Combines, Balers, Tractor-mounted Sprayers, and Self-propelled Sprayers
4.4.2: APAC Farm Equipment Market by Function: Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing, and Others
4.5: ROW Farm Equipment Market
4.5.1: ROW Farm Equipment Market by Equipment Type: Cereal Combines, Non-Cereal Combines, Balers, Tractor-mounted Sprayers, and Self-propelled Sprayers
4.5.2: ROW Farm Equipment Market by Function: Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Farm Equipment Market by Power Output
6.1.2: Growth Opportunities for the Global Farm Equipment Market by Drive Type
6.1.3: Growth Opportunities for the Global Farm Equipment Market by Equipment Type
6.1.4: Growth Opportunities for the Global Farm Equipment Market by Function
6.1.5: Growth Opportunities for the Global Farm Equipment Market Region
6.2: Emerging Trends in the Global Farm Equipment Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Farm Equipment Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Farm Equipment Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: John Deere
7.2: CNH Industrial
7.3: Kubota
7.4: CLAAS
7.5: AGCO
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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