Global Agriculture And Farm Equipment/Machinery Industry Projected to Experience Accelerated Growth by 2029

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 What Are the Projections for Agriculture And Farm Equipment/Machinery Market Size and CAGR During 2025–2029?
 The agriculture and farm equipment/machinery market size has grown steadily in recent years. It will grow from $183.25 billion in 2024 to $191.15 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to education and research, infrastructure development, industrialization of agriculture, advancements in crop science, rural labor scarcity.
 
 The agriculture and farm equipment/machinery market size is expected to see strong growth in the next few years. It will grow to $240.4 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising global food demand, mechanization and automation, smart farming solutions, sustainable agriculture initiatives, precision agriculture adoption. Major trends in the forecast period include collaboration and integration, labor scarcity and efficiency, customization and adaptability, climate change adaptation, adoption of IoT sensors.
 
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 What Are the Top Drivers and Growth Contributors in the Agriculture And Farm Equipment/Machinery Market?
 A rapidly growing population is driving the growth of the agriculture and farm equipment/machinery market going forward. Population growth refers to the increase in the number of people at a particular place during a given period. The mechanization of farms increases their productivity. The rising population will cause an increase in the demand for food, therefore, to meet this increased food demand and feed the growing population increasing the mechanization of agriculture will become crucial thereby driving the agriculture and farm equipment/machinery market. For instance, according to The United Nations, a US-based intergovernmental organization, the global population is expected to increase by 2 billion persons in the next 30 years, i.e.,9.7 billion in 2050. Therefore, the rapidly growing population is expected to propel the agriculture and farm equipment/machinery market.
 
 What Are the Core Segments Shaping the Agriculture And Farm Equipment/Machinery Market Landscape?
 The agriculture and farm equipment/machinerymarket covered in this report is segmented — 
 
 1) By Product Type: Tractors, Rotavators, Threshers And Dehuskers, Power Tillers, Power Weeder, Plough, Baler, Seed Drill
 2) By Ownership: Individual, Rental
 3) By Application: Land Development And Seed Bed Preparation, Sowing And Planting, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro-Processing
 
 Subsegments:
 1) By Tractors: Utility Tractors, Row Crop Tractors, Orchard Tractors 
 2) By Rotavators: Conventional Rotavators, Mini Rotavators 
 3) By Threshers And Dehuskers: Manual Threshers, Mechanical Threshers, Dehusking Machines 
 4) By Power Tillers: Mini Power Tillers, Heavy-Duty Power Tillers 
 5) By Power Weeder: Walk-Behind Weeders, Ride-On Weeders 
 6) By Plough: Moldboard Ploughs, Disc Ploughs, Chisel Ploughs 
 7) By Baler: Round Balers, Square Balers 
 8) By Seed Drill: Manual Seed Drills, Mechanized Seed Drills 
 
 What Are the Key Trends Shaping the Agriculture And Farm Equipment/Machinery Market?
 Technological advancement is a key trend gaining popularity in the agriculture and farm equipment/machinery market. Major players operating in the market are developing advanced technologies such as the launch of the Unnati drone spray service for farmers that utilize drone technology and artificial intelligence (AI) for agriculture. For instance, in May 2022, Unnati, an India-based fintech-driven agriculture ecosystem platform launched a drone spray service for farmers. The unique feature of the service involves the use of a fleet of drones. The drones can spray water, insecticides, and fertilizers for one acre of land in under eight minutes, saving up to 95% of water. They are equipped with a high-precision spray and capabilities such as ‘Return to Launch’ and geofencing. The drones will make the most of AI to optimize spray system utilization in a safe manner that keeps chemicals out of farmers’ cardiovascular systems. 
 
 Who Are the Top Competitors in the Agriculture And Farm Equipment/Machinery Market?
 Major companies operating in the agriculture and farm equipment/machinery market are Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited, Kubota Corporation, CNH Industrial N.V., Escorts Kubota Limited, AGROSTROJ Pelhrimov a.s., China National Machinery Industry Corporation, J.C. Bamford Excavators Limited, SDF Group, Agromaster, Iseki & Co. Ltd., Exel Industries, CLAAS Group, Bucher Industries AG, Yanmar Co.Ltd., Kverneland Group, The Kuhn Group, Farmtrac Tractors Europe sp. z o.o., JOST Werke AG, Pöttinger Landtechnik GmbH, SAME DEUTZ-FAHR Italia S.p.A., McCormick Tractors International Limited, Tractors and Farm Equipment Limited, New Holland Agriculture, Case IH, Massey Ferguson Limited, Valtra, GRIMME Landmaschinenfabrik GmbH & Co. KG, Lemkem 
 
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 Which Region Is Projected to Account for the Largest Share of the Agriculture And Farm Equipment/Machinery Market?
 Asia-Pacific was the largest region in the agriculture and farm equipment/machinery market share in 2024. The regions covered in the agriculture and farm equipment/machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
 
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