Report Code : CVMI2412231 | Published Date : March 3, 2025

The Global Agricultural Machinery Market is projected to grow from 227.9 billion in 2023 to 363.3 billion by 2031, expanding at a 7.9% CAGR. This vital industry is undergoing a technological renaissance, driven by the adoption of precision farming, labour shortages, and the need to feed a growing global population projected to reach 9.7 billion by 2050.

Key Market Growth Drivers

1. Precision Farming Revolution

  • GPS-guided systems are now present in 65% of new vehicles tractors
  • AI-powered tools reduce input waste by 30-50%
  • Telematics adoption is growing at 28% CAGR

 

2. Labor Force Challenges

  • US farm labor costs have increased by 42% since 2015
  • The shortage of skilled operators in Europe affects 58% farms
  • Asian urbanization is reducing the rural workforce by 3% annually

 

3. Sustainable Intensification

  • Demand for regenerative agriculture equipment is increasing 75%
  • The electric and hybrid machinery market is growing at a rate of 34% CAGR
  • Conservation tillage systems reduce soil erosion

 

Product Segmentation

Machinery Category

2023 Share

Key Technological Features

Growth Rate

Tractors

35%

Autonomous capabilities

XX% CAGR

Harvesting Equipment

XX%

AI yield optimization

XX% CAGR

Planting Equipment

XX%

Variable-rate precision

9.3% CAGR

Irrigation Systems

XX%

Smart soil moisture sensors

XX% CAGR

Others

8%

Specialty crop adaptations

5.8% CAGR

Technology Adoption Curve

Stage 1: Basic Mechanization

  • Plows, harrows - 100% penetration
  • Basic tractors - 92% penetration

 

Stage 2: Precision Enablement

  • GPS guidance - 65% penetration
  • Yield monitors - 58% penetration

 

Stage 3: Smart Systems

  • Autonomous operations - 12% penetration
  • AI decision support - 8% penetration

 

Regional Market Dynamics

North America (32%)

  • US leads in autonomous tech adoption
  • Canada's large farms driving high-hp demand
  • Mexico's produce sector modernising

 

Europe (XX%)

  • Germany's engineering leadership
  • France's small farm innovations
  • Eastern Europe's catching up

 

Asia-Pacific (XX%)

  • China's domestic brands gaining share
  • India's custom hiring centers
  • ASEAN's palm oil mechanization

 

Competitive Landscape

Market Leaders:

  1. John Deere (22%) - 8R Autonomous Tractor
  2. CNH Industrial (XX%) - New Holland T7 Methane Power
  3. AGCO (XX%) - Fendt VarioGuide
  4. Kubota (XX%) - Rice Ecosystem solutions
  5. CLAAS (XX%) - LEXION Combine systems

 

Emerging Technologies:

  • Electric compact tractors (Solectrac)
  • Robotic weeders (FarmWise)
  • Swarm farming (Small Robot Company)

 

Recent Innovations (2024)

  • John Deere's ExactShot - 60% starter fertilizer reduction
  • CNH's T7 powered by methane tractor
  • AGCO's Fendt Xaver - Swarm Farming Robots




Reasons To Buy

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Scope

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Key Players

  • Agricultural Machinery Market – John Deere
  • CNH Industrial N.V.
  • AGCO Corporation
  • Kubota Corporation
  • Mahindra & Mahindra Ltd.
  • CLAAS KGaA mbH
  • Yanmar Co. Ltd.
  • Escorts Limited
  • SAME Deutz-Fahr
  • Fendt.

 

Global Agricultural Machinery Market Report

  1. 1. Global Agricultural Machinery Market Research Report
    1. 1.1 Study Objectives
    2. 1.2 Global Agricultural Machinery Market - Overview
    3. 1.3 Reason to Read This Report
    4. 1.4 Methodology and Forecast Analysis
    2. Global Agricultural Machinery Market Research Report - Preface
    1. 2.1 Global Agricultural Machinery Market Research Report – Detailed Scope and Definitions
      1. 2.1.1 By Type
      2. 2.1.2 By Application
      3. 2.1.3 By End-user
      4. 2.1.4 By Region
    3. Global Agricultural Machinery Market Dynamics
    1. 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
    2. 3.2. Restraints – By Type, By Application, By End-user, By Country
    3. 3.3. Opportunities – By Type, By Application, By End-user, By Country
    4. 3.4. Trends – By Type, By Application, By End-user, By Country
    5. 3.5. PEST Analysis
    6. 3.6. Porters Five Rule Analysis
    7. 3.7. Company’s Share Analysis (CSA) by Region or By Country
    8. 3.8. Global Agricultural Machinery Market Research Report – DROTs Impact Analysis
    4. Global Agricultural Machinery Market Research Report, Historic Data 2019 - 2023 and Forecast Analysis Data 2024 - 2031
    1. 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    2. 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
    3. 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
    4. 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. Global Agricultural Machinery Market, By Type, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 5.1 Tractors
      1. 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 5.2 Harvesters
      1. 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 5.3 Sprayers
      1. 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 5.4 Plows
      1. 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. 5.5 Others
      1. 5.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. Global Agricultural Machinery Market, By Application, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 6.1 Farming
      1. 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 6.2 Horticulture
      1. 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 6.3 Forestry
      1. 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    7. Global Agricultural Machinery Market, By End-user, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 7.1 Agricultural Companies
      1. 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 7.2 Farmers
      1. 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 7.3 Cooperative Societies.
      1. 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    8. Global Agricultural Machinery Market Forecast, By Region, 2019 - 2023 and 2024 - 2031 (Market Value, In USD Mn)
    1. 8.1 North America
      1. 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 8.2 Europe
      1. 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 8.3 Asia-Pacific
      1. 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 8.4 Latin America
      1. 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. 8.5 Middle East & Africa
      1. 8.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 8.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 8.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 8.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. 8.6 Global Agricultural Machinery Market - Opportunity Analysis Index, By Type, By Application, By End-user, and Region, 2024 - 2031
    9. North America Global Agricultural Machinery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 9.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.1.1 Tractors
      2. 9.1.2 Harvesters
      3. 9.1.3 Sprayers
      4. 9.1.4 Plows
      5. 9.1.5 Others
      9.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.2.1 Farming
      2. 9.2.2 Horticulture
      3. 9.2.3 Forestry
      9.3 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.3.1 Agricultural Companies
      2. 9.3.2 Farmers
      3. 9.3.3 Cooperative Societies.
      9.4 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.4.1 United States
      2. 9.4.2 Canada
      9.5 North America Global Agricultural Machinery Market – Opportunity Analysis Index, By Type, By Application, By End-user, and Country, 2024 - 2031
      9.6 Regional Trends Analysis
      9.7 North America Global Agricultural Machinery Market Research Report - Company Profiles
      1. 9.7.1 Company 1 (United States)
      2. 9.7.2 Company 2 (Canada)
      3. 9.7.3 Company 3 (Canada)
    10. Europe Global Agricultural Machinery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 10.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.1.1 Tractors
      2. 10.1.2 Harvesters
      3. 10.1.3 Sprayers
      4. 10.1.4 Plows
      5. 10.1.5 Others
      10.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.2.1 Farming
      2. 10.2.2 Horticulture
      3. 10.2.3 Forestry
      10.3 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.3.1 Agricultural Companies
      2. 10.3.2 Farmers
      3. 10.3.3 Cooperative Societies.
      10.4 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.4.1 Germany
      2. 10.4.2 United Kingdom
      3. 10.4.3 France
      4. 10.4.4 Spain
      5. 10.4.5 Italy
      6. 10.4.6 Russia
      7. 10.4.7 Netherlands
      8. 10.4.8 Poland
      9. 10.4.9 Rest of Europe
      10.5 Europe Global Agricultural Machinery Market – Opportunity Analysis Index, By Type, By Application, By End-user, and Country, 2024 - 2031
      10.6 Regional Trends Analysis
      10.7 Europe Global Agricultural Machinery Market Research Report - Company Profiles
      1. 10.7.1 Company 1 (Germany)
      2. 10.7.2 Company 2 (United Kingdom)
      3. 10.7.3 Company 3 (United Kingdom)
    11. Asia-Pacific Global Agricultural Machinery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 11.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.1.1 Tractors
      2. 11.1.2 Harvesters
      3. 11.1.3 Sprayers
      4. 11.1.4 Plows
      5. 11.1.5 Others
      11.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.2.1 Farming
      2. 11.2.2 Horticulture
      3. 11.2.3 Forestry
      11.3 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.3.1 Agricultural Companies
      2. 11.3.2 Farmers
      3. 11.3.3 Cooperative Societies.
      11.4 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.4.1 China
      2. 11.4.2 Japan
      3. 11.4.3 India
      4. 11.4.4 South Korea
      5. 11.4.5 Australia & NZ
      6. 11.4.6 ASEAN
      7. 11.4.7 Rest of Asia-Pacific
      11.5 Asia-Pacific Global Agricultural Machinery Market – Opportunity Analysis Index, By Type, By Application, By End-user, and Country, 2024 - 2031
      11.6 Regional Trends Analysis
      11.7 Asia-Pacific Global Agricultural Machinery Market Research Report - Company Profiles
      1. 11.7.1 Company 1 (China)
      2. 11.7.2 Company 2 (Japan)
      3. 11.7.3 Company 3 (Japan)
    12. Latin America Global Agricultural Machinery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 12.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.1.1 Tractors
      2. 12.1.2 Harvesters
      3. 12.1.3 Sprayers
      4. 12.1.4 Plows
      5. 12.1.5 Others
      12.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.2.1 Farming
      2. 12.2.2 Horticulture
      3. 12.2.3 Forestry
      12.3 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.3.1 Agricultural Companies
      2. 12.3.2 Farmers
      3. 12.3.3 Cooperative Societies.
      12.4 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.4.1 Brazil
      2. 12.4.2 Mexico
      3. 12.4.3 Argentina
      4. 12.4.4 Peru
      5. 12.4.5 Colombia
      6. 12.4.6 Rest of Latin America
      12.5 Latin America Global Agricultural Machinery Market – Opportunity Analysis Index, By Type, By Application, By End-user, and Country, 2024 - 2031
      12.6 Regional Trends Analysis
      12.7 Latin America Global Agricultural Machinery Market Research Report - Company Profiles
      1. 12.7.1 Company 1 (Brazil)
      2. 12.7.2 Company 2 (Mexico)
      3. 12.7.3 Company 3 (Mexico)
    13. Middle East & Africa Global Agricultural Machinery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 13.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 13.1.1 Tractors
      2. 13.1.2 Harvesters
      3. 13.1.3 Sprayers
      4. 13.1.4 Plows
      5. 13.1.5 Others
      13.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 13.2.1 Farming
      2. 13.2.2 Horticulture
      3. 13.2.3 Forestry
      13.3 By End-user Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 13.3.1 Agricultural Companies
      2. 13.3.2 Farmers
      3. 13.3.3 Cooperative Societies.
      13.4 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 13.4.1 Saudi Arabia
      2. 13.4.2 UAE
      3. 13.4.3 South Africa
      4. 13.4.4 Egypt
      5. 13.4.5 Israel
      6. 13.4.6 Rest of Middle East and Africa
      13.5 Middle East & Africa Global Agricultural Machinery Market – Opportunity Analysis Index, By Type, By Application, By End-user, and Country, 2024 - 2031
      13.6 Regional Trends Analysis
      13.7 Middle East & Africa Global Agricultural Machinery Market Research Report - Company Profiles
      1. 13.7.1 Company 1 (Saudi Arabia)
      2. 13.7.2 Company 2 (UAE)
      3. 13.7.3 Company 3 (UAE)
    14. Competition Landscape
    1. 14.1 Strategic Dashboard of Top Market Players
      14.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)
      1. 14.2.1 Agricultural Machinery Market – John Deere
      2. 14.2.2 CNH Industrial N.V.
      3. 14.2.3 AGCO Corporation
      4. 14.2.4 Kubota Corporation
      5. 14.2.5 Mahindra & Mahindra Ltd.
      6. 14.2.6 CLAAS KGaA mbH
      7. 14.2.7 Yanmar Co. Ltd.
      8. 14.2.8 Escorts Limited
      9. 14.2.9 SAME Deutz-Fahr
      10. 14.2.10 Fendt.
    15. Data Collection Method and Research Approach
    16. Principal Presumptions and Acronyms




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