Farm Equipment Market

The global Farm Equipment market was valued at USD 114.2 Million in 2020 and is projected to reach USD 150.38 Million by 2028, growing at a CAGR of 3.50% from 2021 to 2028.

Any type of equipment used on a farm to support farming. The best example of agricultural equipment is a tractor.

The global Farm Equipment market was valued at USD 114.2 Million in 2020 and is projected to reach USD 150.38 Million by 2028, growing at a CAGR of 3.50% from 2021 to 2028.

The global Farm Equipment market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The agricultural industry is witnessing a shift in its practices from conventional farming to contemporary farming, which includes latest machinery. These machineries are a vital part in increasing yield and enhance the maintenance of soil and also offer an easy method of farming.

Increase in agricultural for accessible agro practices and to grow the productivity of crops, are also enhancing the demand for farm equipment.

These machineries are a vital part in increasing yield and enhance the maintenance of soil and also offer an easy method of farming, and increase in agricultural for accessible agro practices and to grow the productivity of crops, are also enhancing the demand for farm equipment.

Type  Analysis: Preview

On the basis of Type, the market is segmented into Hand tool, Tractor, Combine, Plough, Drag, Sprayer, Manure spreader, Others. There are various hazards related with farm equipment and machinery which can have major impact on a life of a human being. The risks include, tractors without ROPS, chainsaws, motorbikes, augers, power take-off (PTO) shafts, and equipment with unguarded moving parts.  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the There are various hazards related with farm equipment and machinery which can have major impact on a life of a human being. The risks include, tractors without ROPS, chainsaws, motorbikes, augers, power take-off (PTO) shafts, and equipment with unguarded moving parts. in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Farm Equipment market growth.

Distribution Channel Analysis: Preview

Based on Distribution Channel, the market is segmented into Online, Offline. Tractor  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Farm Equipment  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

On the basis of region, the global Farm Equipment market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. region held a leading share of the global Farm Equipment market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. Asia Pacific is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Farm Equipment market are John Deere, JCB, SDF Group, Mahindra & Mahindra Limited, CNH Industrial N.V., AGCO Corporation, CLAAS KGAA, Kubota Corporation, Iseki & Co., Ltd., Yanmar Co., Ltd.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• Global Farm Equipment Market is projected to reach USD 150.38 Million by 2028
• held the highest share of the Farm Equipment market
• There are various hazards related with farm equipment and machinery which can have major impact on a life of a human being. The risks include, tractors without ROPS, chainsaws, motorbikes, augers, power take-off (PTO) shafts, and equipment with unguarded moving parts. held the largest share of the product segment in the Farm Equipment market
• Tractor held the major share of the application segment in the Farm Equipment market