What Is The Current and Historic Market Size Analysis Of The Powered Agriculture Equipment Market?
The powered agriculture equipment market has seen considerable growth due to a variety of factors.
• The market for powered agricultural machinery has seen significant expansion in recent years. The market is poised to increase from a size of $102.06 billion in 2024 to $109.7 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.5%.
The growth witnessed in the past is accredited to the escalating demand for food brought about by population growth, technological advancements resulting in more efficient and productive farming methods, the rising acceptance of precision farming methods, the growing demand for biofuels and increasing government backing for agriculture.
What Are The Predictions for The Powered Agriculture Equipment Market Size In The Coming Years?
The powered agriculture equipment market is expected to maintain its strong growth trajectory in upcoming years.
• Growth is anticipated in the powered agriculture equipment market in the forthcoming years, with its value predicted to reach $151.44 billion by 2029, expanding at an 8.4% compound annual growth rate (CAGR).
The expected growth over the forecast period is credited to factors such as increased interest in organic and sustainable farming approaches, the rise in the utilization of autonomous and robotic farming equipment, heightened demand for precision irrigation systems, focused endeavors to decrease the carbon footprint in agriculture, and escalating demand for intelligent farming solutions. During the forecast period, major trends will include the creation of electrified and autonomous farming tools, the incorporation of IoT into farming machinery, utilizing sophisticated sensors for real-time surveillance, customization of tools for precision farming, and the adoption of drone technology for crop inspection and management.
What Are The Essential Drivers Behind The Growth Of The Powered Agriculture Equipment Market?
The accelerated need for organic food can play a significant role in driving the powered agriculture equipment market's expansion. Organic food, which is grown in soil free from any prohibited substances for three years preceding the harvest, is seeing a rapid surge in growth. This surge is likely to escalate the demand for powered agricultural machinery since commercial farmers are opting for advanced devices to cut down their operational costs and enhance their profitability. For example, the United States Department of Agriculture, a federal executive department in the US accountable for formulating and implementing federal farming-related laws, reported that organic products can be found in around 20,000 natural food outlets and approximately 75% of traditional stores in the US. Consequently, the inflated demand for organic food is predicted to heighten the demand for powered agriculture equipment in the projected period.
How Is The Global Powered Agriculture Equipment Market Divided Into Key Segments?
The powered agriculture equipment market covered in this report is segmented –
1) By Product Type: Tractors, Combine Harvester, Sprayer, Soil Preparation And Cultivation Equipment, Seed Drill, Other Product Types
2) By Propulsion: Battery Electric, Hybrid Electric
3) By Power Output: <30 HP, 31–70 HP, 71–130 HP, 131–250 HP, >250 HP
4) By Application: Harvesting, Sowing and Planting, Spraying and Fertilizing, Other Applications
Subsegments:
1) By Tractors: Utility Tractors, Row Crop Tractors, Compact Tractors
2) By Combine Harvester: Conventional Combine Harvesters, Self-Propelled Combine Harvesters, Header Attachments
3) By Sprayer: Crop Sprayers, Aerial Sprayers, Handheld Sprayers
4) By Soil Preparation And Cultivation Equipment: Plows, Harrows, Tillers
5) By Seed Drill: Mechanical Seed Drills, Pneumatic Seed Drills
6) By Other Product Types: Irrigation Equipment, Fertilizer Spreaders, Bale Wrappers
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What Trends Are Reshaping The Future Of The Growth Analysis Market?
The rising trend in the powered agriculture equipment market focuses heavily on product innovation. Companies in this sector are creating new products designed to boost crop yield and household earnings. In January 2022, for example, John Deere, an American agricultural machinery producer, revealed a wholly autonomous tractor at a CES 2022 press conference. The tractor, primarily designed to assist in global food production, features six stereo cameras for comprehensive 360-degree obstacle identification and distance calculation.
Who Are the Key Players in the Powered Agriculture Equipment Market?
Major companies operating in the powered agriculture equipment market include:
• AGCO Corporation
• Deere & Company
• Mahindra & Mahindra Limited
• CNH Industrial NV
• Kubota Corporation
• CLAAS Group
• Krone Group
• J. C. Bamford Excavators Limited
• Yanmar Co Ltd.
• Same Deutz-Fahr Group
• Escorts Limited
• Zetor Tractors
• Daedong Industrial Company
• Argo Tractors SpA
• Tractors and Farm Equipment Limited
• LS Tractor USA LLC
• Iseki & Co. Ltd.
• Carraro Group
• Lely Group
• Sampo Rosenlew Ltd.
• Bucher Industries AG
• Rostselmash Ltd.
• Shifeng Group
• Tym Tractors
• Kverneland Group
• Kukje Machinery Co. Ltd.
• Art's Way Manufacturing Co. Inc.
• New Holland Agriculture
• Kuhn Group
What are the Regional Insights into the Powered Agriculture Equipment Market?
Asia-Pacific was the largest region in the powered agriculture equipment market in 2024. The regions covered in the powered agriculture equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
