What Has Been Agricultural Implement Market in Recent Years?
The agricultural implement market has seen considerable growth due to a variety of factors.
• In recent times, the size of the agricultural implement market has experienced significant growth. It is predicted to rise from a value of $255.13 billion in 2024 and expand to $271.68 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
Factors such as migration, population increase, and economic development have contributed to the growth in the historic period.
What Is the Forecasted Market Size and Growth Rate for The Agricultural Implement Market?
The agricultural implement market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for agricultural implements is projected to witness a strong upsurge in the years to come. The estimated value by 2029 is $340.13 billion, at a Compound Annual Growth Rate (CAGR) of 5.8%.
This growth during the forecast period is primarily due to supportive government policies, agricultural finance, technological advancements, and heightened awareness. The prominent trends for the forecast period encompass the development of autonomous farming devices, the provision of telematics technology, the promotion of robotic lawnmowers, and the introduction of robotic milking systems to capitalize on the rising demand for these instruments.
What Are The Key Drivers Fueling Growth In The Agricultural Implement Market?
The growth of the agricultural implement market is projected to be fueled by a rising demand for food crops. These crops, cultivated and grown for the purpose of providing human food, necessitate the use of agricultural tools and machinery at different stages of their production. These tools help improve efficiency, reduce labor and improve overall agricultural productivity. For instance, the Food and Agriculture Organization (FAO), an Italy-based specialized agency of the United Nations, reported in December 2022 that the global production of primary crop commodities increased by 2% in 2021 from the last year, hitting a total of 9.5 billion metric tons. Cereals held the largest share of this production, contributing 32%, with sugar crops following at 22% in 2021. This uptick in the demand for food crops is thus expected to drive the agricultural implement market's growth in the future.
What Key Areas Define The Segmentation Of The Global Agricultural Implement Market?
The agricultural implement market covered in this report is segmented –
1) By Type: Farm Machinery And Equipment, Lawn And Garden Tractor And Home Lawn And Garden Equipment
2) By Operation: Autonomous, Semi-autonmous, Manual
3) By Capacity: Small, Medium, Large
4) By Application: Land Development And Seed Bed Preparation, Sowing And Planting, Weed Management, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro Processing
Subsegments:
1) By Farm Machinery And Equipment: Tractors, Harvesters, Plows, Seeders and Planters, Irrigation Systems, Fertilizer Spreaders, Sprayers
2) By Lawn And Garden Tractor And Home Lawn And Garden Equipment: Ride-On Lawn Tractors, Walk-Behind Lawn Mowers, Garden Tillers And Cultivators, Hedge Trimmers, Leaf Blowers, Lawn Aerators
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How Are Emerging Trends Reshaping The Dynamics Of The Agricultural Implement Market?
Leading enterprises within the agricultural implement market are focusing on incorporating superior technological advancements within their machinery. This strategy aims to increase their competitive standing and improve their product range. Implementing technologically advanced methods and tools in farming boosts efficiency, productivity, and promotes sustainable farming practices. For example, in March 2024, The Farm Equipment Sector (FES) of Mahindra & Mahindra, a tractor producer based in India and a subdivision of the Mahindra Group, introduced the Mahindra 6RO Paddy Walker in Tamil Nadu. This 6-row paddy transplanter, engineered for power, reliability, and high performance, includes a sturdy gearbox and engine, offering optimal efficiency while minimizing fuel consumption. This equipment enhances productivity in paddy farming, extends service periods, facilitates water conservation, and alleviates the environmental footprint of rice production, concurrently boosting crop profitability.
Who Are the Key Players in the Agricultural Implement Market?
Major companies operating in the agricultural implement market include:
• Deere & Company
• CNH Industrial N.V.
• AGCO Corporation
• Kubota Corporation
• CLAAS KGaA mbH
• China National Machinery Industry Corporation (Sinomach)
• Mahindra Group
• Iseki & Co. Ltd.
• SDF Group
• Escorts Limited
• Tractors and Farm Equipment Limited (TAFE)
• Sonalika Group
• HMT Limited
• Force Motors
• Singha Components Pvt Ltd
• PREET
• Standard Tractors
• YTO Group
• Cixi City Best Power Tools Co. Ltd.
• Lovol Heavy Industry CO.
• LTD.
• Weichai Power
• Wuyang Huifang Modern Agri-Machinery Co. Ltd.
• Wendeng First General Machinery Manufacturing
• Mitsubishi Agricultural Machinery
• Yanmar
• Fendt
• Deutz-Fahr
• Husqvarna
• Kuhn Group
• Kverneland Group
• Krone
• Grimme Group
• JCB Limited
• Väderstad
• Maschio Gaspardo S.p.A.
• Alo AB
• Horsch
• New Holland
• Zetor
• Ursus
• Case IH
• Pronar
• Farmtrac
• Crystal Traktor
• VUAZ AGRO
• AGROSTROJ Pelhrimov
• Massey Ferguson
• AriensCo
• Great Plains Manufacturing
• Venture Products
• Amerequip
• Crary
• Koenig Equipment
• Saba International Co. Company
• Al-muktar Llc
• Al Falah Agricultural Equipments
• Prime Tech Middle East Fze
• Agripak Tractors General Trading Llc
• Star Holland Used Heavy Equip.trading Ll
• Timothy Agricultural Equipment
• Modern Machinery Egypt
• Elmasrya Co. For Agricultural Machinery
• Hawk Egypt
• Agrozenit Agricultural Equipment
• Çelmak Tarim Makinalari San. Tic. Ltd. Sti.
• Agri Supplies
• Agro Master
• ARGO Industrial
• Bell Equipment
• BEPCO
• Bestbier
• BHBW
• Big Dutchman
• BPI Manufacturing
• Cape Agricultural Products
• Morris Industries Limited
• DICKEY-John Corporation and Jupidex
• DICLA
• Enorossi
• Falcon Equipment
• GC Tillage
• Gomselmash
• Green Zone
• Hose Manufacturer's (PTY) Limited
• Jinma Tractors South Africa
• Landini
• Mascor
• Monosem
• Netafim Limited
• NHSA Agriculture Parts
• Northmec
• Orchard Agrimek
• Radium Engineering
• Rebelo Agricultural Group
• Southtrade
• Valmont Industries Incorporated
• Valtra
• Vermeer equipment Sales
• World Group Company Limited
• Yanmar Company Limited.
What Is The Most Dominant Region In The Agricultural Implement Market?
Asia-Pacific was the largest region in the agricultural implement market in 2024. North America was the second largest region of the agricultural implement market. The regions covered in the agricultural implement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
