The global agricultural implement market size is expected to grow from $224.71 billion in 2021 to $247.48 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global agricultural implement market size is expected to grow to $349.6 billion in 2026 at a CAGR of 9.0%.
What is the Global Agricultural Implement Market?
The agricultural implement market consists of sales of farm machinery and equipment, and lawn and garden tractor and home lawn and garden equipment by entities (organizations, sole traders, or partnerships) that produce agricultural implements, including combines, cotton ginning machinery, fertilizing machinery (farm-type), haying machines, milking machines, planting machines (farm -type) poultry brooders, feeders and waterers, power lawnmowers, snowblower and throwers (residential-type) tractors and attachments (lawn and garden-type and farm-type).
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What drives the Global Agricultural Implement Market?
The agricultural implement manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
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Global Agricultural Implement Market Segments
The global agricultural implement market is segmented:
By Type: Farm Machinery and Equipment, Lawn and Garden Tractor and Home Lawn and Garden Equipment
By Operation: Autonomous, Semi-Autonomous, Manual
By Capacity: Small, Medium, Large
By Application: Land Development and Seed Bed Preparation, Sowing and Planting, Weed Cultivation, Plant Protection, Harvesting and Threshing, Post-Harvest and Agro Processing
By Geography: The regions covered in the agricultural implement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Agricultural Implement Global Market Report 2022provides market size and growth forecasts for the global agricultural implement market, global agricultural implement market share, agricultural implement market segments and geographies, agricultural implement market competitive landscape including leading competitors’ revenues, profiles and market shares. The agricultural implement market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Agricultural Implement Industry Playersinclude Deere & Company, Kubota Corp, CNH Industrial NV, AGCO Corporation, EXOR Group, Claas KGaA mbH, The Toro Company, Tetra Laval International S.A, Bucher Industries AG, and Techtronic Industries Co. Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
