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Farm Equipment Market - Forecast (2022 - 2027)

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  • 125 Pages
  • April 2022
  • Region: Global
  • IndustryARC
  • ID: 5616244
The Farm equipment covers an extensive range of equipment engaged at several stages of agriculture such as land development, sowing, planting, cultivation, harvesting, and threshing. The range varies from simplest tools such as hand trowel to fertilizers, plow, harrow, fertilizer spreader, seeder and high-end engineered tractors. The World Bank has estimated that the demand for food will upsurge by 70% by 2050 and an $80 billion annual investment will be required to meet the objectives. Such an alarming ultimatum calls for efficient farming techniques and hence advanced farm equipment is the catch and has the potential to divert mandatory investments into its own pocket.

As per the market outlook foreseen by a recent business intelligence report, the farm equipment market size ranges from $170 billion to $175 billion and is forecast to grow at a global CAGR of around 6% going through 2025. Farm equipment is a global phenomenon but APAC is the fastest growing regional market with a global CAGR of 40% - 45% which is mainly attributed to the impeccable agricultural lands and market of India and China. FICCI (Federation of Indian Chambers of Commerce & Industry) stated that the Indian agriculture sector contributes approximately 14% to India’s GDP. And Organisation for Economic Co-operation and Development revealed that China has 21% of the global population in its territory along with 9% of universal arable land.

Farm Equipment Market Outlook:

The farm equipment market in this report has been segmented into different phases accumulating the over-all agricultural production from land development to harvesting and threshing. The agricultural equipment involved at different stages is tractors, fertilizing, plant protection equipment, harvesting equipment, irrigation equipment, hay and forage equipment, crop processing equipment, seeding equipment, grain handling equipment, cutters, shredders and sprayers. As of 2018, irrigation machinery leads the application segment covering nearly 10% of the entire global farm equipment marketplace owing to harsh topography and weather conditions prevailing in the majority of developing countries constituting a major chunk of the global population dependent on agriculture. Efficient irrigation facilities empower the agro-economy by contravention of constraints such as deficient water supply. Drip irrigation systems save water and nutrients by enabling water to drip slowly to the roots of the plants and minimize evaporation. A classic example can be derived from a World Bank data which states that the Peru Sierra Irrigation Subsector Project made a substantial impact in increasing agricultural production and productivity ranging between 118 percent and 170 percent in targeted areas of the Peruvian Sierra.

Farm Equipment Market Growth Drivers:

The farm Equipment market is not solely dependent on the agricultural industry. Some of the other factors indirectly but positively influencing the market are financing equipment such as agriculture finance and agriculture insurance initiated by governmental and non-governmental organizations. The World Bank Group is a leading global financier of agriculture, with $6.8 billion in new IBRD/IDA commitments in 2018.

In the recent years, the world has witnessed unprecedented demand from the robustly growing F&B sector owing to the rapidly increasing world population. Traditional farming techniques are time consuming and less economical in terms of labor costs, and the global reduction in farming lands further adds to the dilemma. To combat and deliver under such crucial circumstances, employment of farm equipment by the agricultural sector is inevitable. For example- The World Bank preceding statistics reveals that an outstanding 25,054,140 tractors were already globally employed as of January 2019 and with the advent of machineries practices in the agro sector along with improved financial aids, the deployment is going to be at a more dynamic scale affecting the global farm equipment market.

Farm Equipment Market Challenges:

Two of the major challenges surfacing this flourishing and imperative domain are financial aspects such as capital and rate of interest and unskilled agronomic man force. But it is also to be noted that the financial aspects are being slowly countered by various organizations and bodies providing low-interest loans, zero to low-interest credits, and grants to developing countries for agricultural operations. To skill the agronomic man force for the utility of farm equipment which will automatically consequence in efficient production, various countries have come up with machineries institutes and e-farming portals. A sheer example from the often recalled as the land of agriculture, India, is the Central Farm Machinery Training & Testing Institute, Budni (M.P.).

Farm Equipment Market

Farm Equipment Market Key Players Perspective:

Some of the key players mentioned in the report are AGCO, John Deere, CLAAS, Massey Ferguson, Argo Group, Mahindra and Mahindra, Hunter Industries, Toro Corp., Jain Irrigation, Bucher Industries, CNH Industrial, Kvernerland Group, SDF Group, Kubota, Lindsay Corp.

John Deere, an American giant commemorated the production of its 5,000th Forestry Swing Machine, a 2656G Log Loader in January 2019. The company was among the first to introduce electric drive technology in off-highway equipment and their 644K and 944K Hybrid Wheel Loaders have collectively logged more than 1 million operating hours in the field.

Farm Equipment Market Trends:

Supporting Events:

The Irish Farm Tractor & Machinery Trade Association hosted the biggest ever ‘The FTMTA Farm Machinery Show,’ on February 7th, 8th and 9th 2019. 160 national and international machineries manufacturers and distributors were stationed to meet their potential customers and take the farm equipment market ahead of the curve.

Promising Acquisitions:

AGCO, which comprises Massey Ferguson, Fendt, Valtra and other farm machinery brand-names, accounted for revenues approaching $10 billion in 2018. AGCO merging with Fendt, has embarked upon several milestones. A recent example is towed plant protection sprayer, Fendt Rogator 300, and the self-driving Fendt Rogator 600 marking their sale of 100 units. AGCO Corporation received seven AE50 Awards from the American Society of Agricultural and Biological Engineers (ASABE) in 2019 and AGCO/Fendt wins the AE50 Award in the US for best new Fendt IDEAL large combine.

Farm Equipment Market Research Scope:

The base year of the study is 2018, with a forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the farm equipment market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of equipment in the farm equipment market, and their specific applications in different phases of agricultural production.

Farm Equipment Market Report: Industry Coverage

Types of Equipment in Farm Equipment Market:

  • By Application- Agri Equipment, Construction Equipment, Chemical Applications, Financing Equipment, Material Handling Equipment, Snow Removal Equipment, Property Maintenance Equipment.
  • By Machinery- Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Hay and Forage Equipment, Crop processing Equipment, Seeding Equipment, Grain Handling Equipment, Cutters, Shredders and Sprayers
  • By Agricultural Phase- Land Development, Sowing, Planting, Cultivation, Harvesting, and Threshing.

The Farm Equipment Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

The Middle East and Africa: Israel, South Africa, Saudi Arabia

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Table of Contents

1. Farm Equipment Market - Overview
1.1. Definitions and Scope
2. Farm Equipment Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Farm Equipment Market
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis
4. Farm Equipment Market Forces
4.1. Drivers
4.2. Constraints
4.3. Challenges
4.4. Porters five force model
4.4.1. Bargaining power of suppliers
4.4.2. Bargaining powers of customers
4.4.3. Threat of new entrants
4.4.4. Rivalry among existing players
4.4.5. Threat of substitutes
5. Farm Equipment Market - Strategic analysis
5.1. Value chain analysis
5.2. Opportunities analysis
5.3. Product life cycle
5.4. Suppliers and distributors Market Share
6. Farm Equipment Market - Government Regulations and Support
7. Farm Equipment Market - By Type (Market Size -$Million / $Billion)
7.1. Market Size and Market Share Analysis
7.2. Application Revenue and Trend Research
7.3. Product Segment Analysis
7.3.1. Introduction < 22 HP 22.1 to 100 HP 100 to 200 HP 201 to 300 HP 301 to 400 HP Above 400 HP
7.3.2. Trailers and Trucks
7.3.3. Tractors
7.3.4. Tillage Equipment Primary Tillage Equipment Rotary Tillers Disc Tiller Plough Sub Soil Plough Disc Plough Moldboard Plough Others Secondary Tillage Equipment Pulverizers Cultivators Weeders Harrows Off set Disc Harrow Disc Harrow
7.3.5. Planting Equipment Seed Drills Air Seeders Transplanters Planters Regular Drill Planter Check-Row Planter Hill Drop Planter Broadcast Seeders Box Drill Seeders
7.3.6. Irrigation Equipment Pumps Filters Pipes Valves Emitters Inline Online
7.3.7. Harvesting Equipment Harvesters Self-Propelled Tractor Pulled PTO Powered Others Multi-Crop Thresher Axial-Flow Paddy Thresher Pedal Operated Paddy Thresher Sheller Spike Tooth Type Axial Flow Type Others
7.3.8. Hay and Forage Equipment Mowers Balers Forage Blowers Others
7.3.9. Crop Processing Equipment
7.3.10. Plant Protection Equipment Hand Operated Sprayers Motorized Sprayers Boom Sprayers Airblast Sprayers Aerial Sprayer Others
7.3.11. Sprinkler Irrigation Equipment Center Pivot Lateral Move Solid Set Travelling Guns Side Roll Others
7.3.12. Others
8. Farm Equipment Market - By Phase (Market Size -$Million / $Billion)
8.1. Introduction
8.2. Land Development
8.3. Sowing and Planting
8.4. Cultivation
8.5. Harvesting and Threshing
8.6. Post Harvesting
8.7. Others
9. Farm Equipment - By Geography (Market Size -$Million / $Billion)
9.1. Farm Equipment Market - North America Segment Research
9.2. North America Market Research (Million / $Billion)
9.2.1. Segment type Size and Market Size Analysis
9.2.2. Revenue and Trends
9.2.3. Application Revenue and Trends by type of Application
9.2.4. Company Revenue and Product Analysis
9.2.5. North America Product type and Application Market Size U.S. Canada Mexico Rest of North America
9.3. Farm Equipment - South America Segment Research
9.4. South America Market Research (Market Size -$Million / $Billion)
9.4.1. Segment type Size and Market Size Analysis
9.4.2. Revenue and Trends
9.4.3. Application Revenue and Trends by type of Application
9.4.4. Company Revenue and Product Analysis
9.4.5. South America Product type and Application Market Size Brazil Venezuela Argentina Ecuador Peru Colombia Costa Rica Rest of South America
9.5. Farm Equipment - Europe Segment Research
9.6. Europe Market Research (Market Size -$Million / $Billion)
9.6.1. Segment type Size and Market Size Analysis
9.6.2. Revenue and Trends
9.6.3. Application Revenue and Trends by type of Application
9.6.4. Company Revenue and Product Analysis
9.6.5. Europe Segment Product type and Application Market Size U.K Germany Italy France Netherlands Belgium Spain Denmark Rest of Europe
9.7. Farm Equipment - APAC Segment Research
9.8. APAC Market Research (Market Size -$Million / $Billion)
9.8.1. Segment type Size and Market Size Analysis
9.8.2. Revenue and Trends
9.8.3. Application Revenue and Trends by type of Application
9.8.4. Company Revenue and Product Analysis
9.8.5. APAC Segment - Product type and Application Market Size China Australia Japan South Korea India Taiwan Malaysia
10. Farm Equipment Market - Entropy
10.1. New product launches
10.2. M&A's, collaborations, JVs and partnerships
11. Farm Equipment Market Company Analysis
11.1. Market Share, Company Revenue, Products, M&A, Developments
11.2. Alamo Group Inc.
11.3. Agco Corporation
11.4. Argo S. p. A
11.5. Amazone H. Dreyer GmbH & Co. KG
11.6. Bucher Industries
11.7. Class KGaA mbH
11.8. CNH Industrial N.V.
11.9. Daedong Industrial Company Ltd.
11.10. Deere & Company
11.11. Escorts Group
11.12. Company 11
11.13. Company 12
11.14. Company 13 and more
12. Farm Equipment Market - Appendix
12.1. Abbreviations
12.2. Sources
13. Farm Equipment Market - Methodology
13.1. Research Methodology
13.1.1. Company Expert Interviews
13.1.2. Industry Databases
13.1.3. Associations
13.1.4. Company News
13.1.5. Company Annual Reports
13.1.6. Application Trends
13.1.7. New Products and Product database
13.1.8. Company Transcripts
13.1.9. R&D Trends
13.1.10. Key Opinion Leaders Interviews
13.1.11. Supply and Demand Trends