Agriculture Equipment Market: By Product Type (Harvesters, Tractors, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, and Others), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro Processing)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 – 2029

                                          
Abstract
                    
The global agriculture equipment market is set to record a CAGR of nearly 8.7% over the forecast period. The report offers valuation and analysis of the agriculture equipment market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, sales estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion).

Key Growth Drivers

The massive use of new technologies in farming activities to enhance crop yield will boost market trends. Apart from this, the rise in the application of drones in the agriculture sector will create new growth avenues for the market over the forecast timeline. Moreover, the introduction of new features in drone technology along with its integration with AI technology is likely to boost precision farming market growth over the coming years.

Escalating food demand has resulted in the use of advanced farming equipment such as unmanned aerial vehicles. Furthermore, UAVs are also used for crop dusting, precision agriculture, seed sowing, weed & pest monitoring, and farm management activities. Recently, UAVs are attached with hyperspectral, thermal, and multispectral sensors for gathering information pertaining to soil moisture levels, plant health, and crop density.


There are numerous examples of evolving technologies such as robots that are utilized with machine learning to collate the information whether or not the agricultural crop is a weed or comprise of unwanted pests. Moreover, these robots spray a certain proportion of pesticides on the pests for eliminating them. Moreover, the machine learning tools help the robots to determine ripe fruits and pluck it at an appropriate stage. All these factors will drive the growth of the agriculture equipment market over the forecast timespan.

Furthermore, there is a spectrum of applications of equipment in the farming sector with seed getting planted by robots after determining the climatic conditions, crops are irrigated as per requirement & precision, cattle get fed, pests killed, and fruits harvested, arranged, packed, and delivered as per order. All these agriculture equipment operate in a synchronized manner by sharing the information, making business decisions, and transforming these decisions into actions from seed to end product. All these aforementioned aspects will steer business growth over the forecast timeline.

Asia Pacific To Accrue Major Chunk Of Overall Market Share By 2025

The massive use of machine-to-machine technology in the agriculture industry across countries like India is set to record huge growth over the forecast timeline. Furthermore, machine-to-machine technology offers benefits such as real-time status of the farming equipment and monitoring & diagnostics of the equipment. For instance, machine-to-machine technology can help in determining the status of operation & diagnostics of farming equipment like tractors, tanks, and harvesters.

Moreover, wireless modems are fitted on the farming equipment for sending alerts on the mobiles or smartphones of the farmers in countries like India. GPS is utilized for determining the farming equipment site. Retrofit kits are produced for aiding monitoring as well as diagnostics of the agricultural equipment.

Key players profiled in the report include AGCO, Mahindra & Mahindra, John Deere, Kubota, CNH Industrial N.V., and Iseki & Co., Ltd.

The global agriculture equipment market is segmented as follows:

By Product 

	Tractors
	
		
		Harvesters
		
		
		Planting Equipment

		
			
			Row Crop Planters
			
			
			Air Seeders
			
			
			Grain Drills
			
			
			Others
			
		
		
		
		Irrigation & Crop Processing Equipment
		
		
		Spraying Equipment
		
		
		Hay & Forage Equipment
		
		
		Others
		
	
	

By Application

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

By Region

	North America
	
		U.S.
	
	
	Europe
	
		UK
		France
		Germany
	
	
	Asia Pacific
	
		China
		Japan
		India
	
	
	Latin America
	
		Brazil
	
	
	Middle East and Africa