Agriculture and Farm Equipment/Machinery Market Report 2026

The agriculture and farm equipment/machinery market size has grown strongly in recent years. It will grow from $174.12 billion in 2023 to $184.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The expansion observed in the historical period can be credited to factors such as advancements in education and research, infrastructure development, the industrialization of agriculture, progress in crop science, and challenges arising from rural labor scarcity.

The agriculture and farm equipment/machinery market size has grown strongly in recent years. It will grow from $191.15 billion in 2025 to $202.39 billion in 2026 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing farm mechanization rates, reduction in agricultural labor availability, expansion of commercial farming operations, rising demand for higher crop yields, improved access to mechanized farming equipment.

The agriculture and farm equipment/machinery market size is expected to see strong growth in the next few years. It will grow to $254.46 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing adoption of precision farming practices, rising investments in smart agriculture infrastructure, growing focus on sustainable farming operations, expansion of rental and shared equipment models, increasing demand for fuel-efficient farm machinery. Major trends in the forecast period include increasing adoption of multi-functional farm machinery, rising demand for high-capacity agricultural equipment, growing preference for rental-based farm machinery, expansion of mechanized harvesting solutions, enhanced focus on equipment durability and efficiency.

The increasing demand for organic food is expected to drive the expansion of the agriculture and farm equipment/machinery market going forward. Organic food refers to agricultural products cultivated and produced without synthetic pesticides, fertilizers, genetically modified organisms (GMOs), antibiotics, or other artificial additives. The use of agricultural and farm machinery in organic production can provide improved efficiency, precision farming, and effective weed and pest management, while also supporting soil health. Over time, machinery can deliver cost savings by enhancing productivity and reducing dependence on manual labor. For example, in May 2025, according to GOV.UK, a UK-based government website, the UK had a total of 503 thousand hectares of organically farmed land in 2024, representing a 1% increase from 2023. Therefore, the rising demand for organic food is fueling the growth of the agriculture and farm equipment/machinery market.

Major companies in the agriculture and farm equipment/machinery market are focusing on innovative products such as ISI-marked agricultural machinery to enhance revenue generation. Agricultural equipment encompasses a wide range of machinery, tools, and devices used to perform various farming tasks. For instance, in July 2023, Balwaan Agri, an India-based smart agriculture machinery company, introduced ISI-marked agricultural equipment. These tools provide farmers with enhanced capabilities to optimize crop yields, promote sustainable farming practices, and improve overall agricultural efficiency, positioning them to significantly impact the sector. This innovation results from extensive research and development that integrates advanced technology with deep industry expertise. Designed to minimize environmental impact, this solution aims to address key challenges faced by farmers and support them in achieving improved outcomes.

In March 2023, Mahindra and Mahindra Ltd., an India-based automobile manufacturer, acquired M.I.T.R.A. (Micro Irrigation Technology Research Association) for an undisclosed amount. This acquisition enables Mahindra and Mahindra to expand its product portfolio and reinforce its presence in the agricultural machinery market by leveraging advanced technologies to enhance farmer productivity and sustainability. MITRA Agro Equipments Pvt. Ltd. is an India-based manufacturer and supplier of agricultural equipment and machinery.

Major companies operating in the agriculture and farm equipment/machinery market are Deere & Company, SZ DJI Technology Co., Ltd., AGCO Corporation, DeLaval International AB, Trimble Inc., BouMatic Robotics, Lely Holding S.à r.l., AgJunction Inc., AgEagle Aerial Systems Inc., Agribotix LLC, Harvest Automation, Inc., Topcon Corporation, Ag Leader Technology, Deepfield Robotics, Autonomous Tractor Corporation, Clearpath Robotics Inc., Agrobot Inc., Naïo Technologies SAS, PrecisionHawk Inc., CNH Industrial N.V., Harvest CROO Robotics LLC, Robotics Plus Ltd., Ecorobotix SA, AutoCopter Corp., Autonomous Solutions, Inc. (ASI), Kubota Corporation, DroneDeploy Inc., Octinion NV, SwarmFarm Robotics Pty Ltd., Fendt, Soft Robotics Inc.

Asia-Pacific was the largest region in the agriculture and farm equipment/machinery market share in 2025. The regions covered in the agriculture and farm equipment/machinery market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the agriculture and farm equipment/machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The agriculture and farm equipment/machinery market consists of sales of harvesters, soil preparation and cultivation, irrigation and crop processing, agriculture spraying equipment, hay and forage machines, and other agriculture and farm equipment/machinery. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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