Farm Equipment Market - Trends Forecast Till 2028

Farm Equipment Market, By Equipment Type (Tractor, Harvester, Planting Equipment, Irrigation & Crop Processing, Spraying Equipment, Hay & Forage Equipment and Others), Power Output (<30 HP, 31-70 HP, 71-30 HP, 131-250 HP and >250 HP), Drive Type (Two-Wheel Drive and Four-Wheel Drive) Application (Two-Wheel Drive and Four-Wheel Drive), End-Market (Plowing & Cultivating, Sowing & Plantation, Plant Protection & Fertilizing, Harvesting & Threshing and others) Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: October, 2020

Base Year Estimate: 2019

Report ID: D-AU-FEM-54

Format:  

Number of Pages: 267

Domain: Automotive

Farm Equipment Market – Trends Forecast Till 2028

The global farm equipment market is anticipated to reach USD 95.2 billion by 2020 growing at a CAGR of 4.6% during the forecasting period, 2020-2028. Factors such as increasing government support towards farm loan waivers/credit finance, increasing incentives to support rental operations are some of the major factors for the farm equipment market

Farm Equipment Market – Trends Forecast Till 2028

The global farm equipment system market is segmented into equipment type, power output, drive type, application, and geography.

The equipment Type segment is segmented into tractor, harvester, planting equipment, irrigation & crop processing, spraying equipment, hay & forage equipment, and others

Power Output segment is segmented into <30 HP, 31-70 HP, 71-30 HP, 131-250 HP and >250 HP

The drive Type segment is segmented into two-wheel drive and four-wheel drive  

Application is further segmented into plowing & cultivating, sowing & plantation, plant protection & fertilizing, harvesting & threshing, and others

Geographically, the global farm equipment system market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Asia-Pacific region is the largest contributor to the farm equipment market in the forecast period 2020-2028 

Key players in the global farm equipment market are John Deere, CNH Industrial, AGCO, CLAAS, Mahindra & Mahindra, and Kubota 

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In 2020, New Holland, Legambiente, and CNH Industrial launched the ‘Evoluzione Terra’ project for the growth of sustainable and social farming in Italy
  • In 2019, John Deere, John Deere launched a new range of technology and power-driven tractor, and harvester 

Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the farm equipment market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global farm equipment market. Through secondary research, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the farm equipment market.

The primary Respondent breakdown is given below:

Farm Equipment Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the farm equipment market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for the farm equipment market so as to understand the trends and the factors involved in changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2020

USD 95.2 billion

Growth Rate

CAGR of 4.6% during the forecasting period, 2020-2028

Historical Data

2017-2018

Forecast Years

2020-2028

Base Year 

2019

Units Considered

Revenue in USD billion and CAGR from 2020 to 2028

Report Segmentation

Equipment Type, Power Output, Drive Type, Application and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

John Deere, CNH Industrial, AGCO, CLAAS, Mahindra & Mahindra, and Kubota

Available Customization 

In addition to the market data for farm equipment market, Delvens. offers client-centric report and customized according to the company’s specific demand and requirement.

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