Global Agricultural & Forestry Machinery Market To Grow At A CAGR Of 5.5% By 2030

The global agricultural & forestry machinery market size was worth around USD 302 billion in 2021 and is predicted to grow to around USD 489 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2030.

Machines used in agriculture and forestry help farmers and other workers with farming and other forestry tasks. These machines come in a variety of designs and are used for many purposes, including harvesting. As agricultural operations have risen over time, particularly in the Asia Pacific region, the market for agriculture and forestry machinery has experienced rapid growth. Farmers can cultivate more land faster with the help of machines. Machines used in agriculture and forestry include harvesters, tractors, sprayers, and rotators, among others.

The global agricultural & forestry machinery market is anticipated to grow significantly during the forecast period due to the constantly growing demand for advanced machinery in the developed regions. The growing economic stability in many countries has increased the demand for food. Moreover, the growing population across the globe is also posing high demand for food. However, such surging scenarios are increasing pressure on the agriculture sector to increase production, which in turn has boosted the demand for more effective and innovative agricultural machinery.

The growth factors like mechanization of several agricultural activities, strong economic growth, and growing support of the government to boost production are fueling the growth of the global agricultural & forestry machinery market. The growing requirement for wood and related products in the market has transformed the whole process into a fully automated process that requires efficient and highly developed machinery to extract and harvest forest trees.

The increasing investments by prominent players in the market to make more advanced tools is a key factor that is propelling the growth of the global market. Moreover, the increasing awareness regarding the role of technology in the farming and agriculture process is further fueling the growth of the global agricultural & forestry machinery market.

The integration of the latest technology with telematics and GPS is bolstering the market to grow globally. The adoption of IoT in agricultural machinery helps in many functions like high-precision positioning systems and other IT applications and is also fueling the growth of the global market significantly. However, the high initial investment is expected to impede the growth of the market over the forecast period.

The global agricultural & forestry machinery market is segmented based on agriculture machines, forestry machines and region.

The global market is segmented based on agriculture machines into combine & forage harvesters, field sprayers, tractors, soil cultivating equipment, milking & poultry machines and haymaking machines. The field sprayer segment is growing at a significant rate during the forecast period. Farmers or growers must deal not just with problems related to agricultural operations but also with difficulties in the market. Price volatility, unpredictable weather, finding customers for their goods, and a lack of natural resources are a few market obstacles.

Farmers have benefited from updated technological versions of field sprayers in a variety of ways, including lower costs, improved spray efficiency, safety, and less harm to crops and the environment. Thus, driving segmental growth.

Among the regions, the Asia Pacific accounts for the largest share of the global agricultural & forestry machinery market due to the increasing awareness among the farmers and the presence of large production areas. However, Europe is the fastest-growing region in the global market owing to the growing innovations in agricultural machinery in the region. Moreover, the intensive research and development activities further contribute to the regional market growth.

The global agricultural & forestry machinery market is dominated by players like Mahindra & Mahindra, Claas KGaA mbH, Kubota Corporation, Caterpillar Inc., AGCO Corporation, Deere & Company, Weifang Euro king Machinery, John Deere, Bucher Industries AG, Bonang Transmission, Hubei Machinery and Equipment, Same Deutz-Fahr, AGROSTROJ Pelhrimov, Valmont Industries Incorporated., China National Machinery Industry Corporation, Escorts Limited, Concern Tractor Plants., among others.

Recent Development:

• In September 2019, CNH Industrial expanded its business in China by opening new parts and service centers in Shanghai, China. The new facility helps significantly reduce the delivery time to its customers for New Holland Agriculture and Case IH agricultural equipment brands.
• In January 2020, CLAAS KGaA mbH initiated a new high-bay warehouse into operation, comprising an area of approximately 11,700 sq.m, after a planning and construction period lasting over two years. This is to meet the storage capacity of steadily growing products and with it the number of spare parts.

This review is based on a report by Zion Market Research, titled “Agricultural & Forestry Machinery Market By Agriculture Machine (Combine & Forage Harvesters, Field Sprayers, Tractors, Soil Cultivating Equipment, Milking & Poultry Machines, and Haymaking Machines), By Forestry Machine (Forwarders, Chainsaw, Swing Machines, Skidders, Bunchers, Loaders, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/agricultural-forestry-machinery-market

The global agricultural & forestry machinery market is segmented as follows:

By Agriculture Machine

• Combine & Forage Harvesters
• Field Sprayers
• Tractors
• Soil Cultivating Equipment
• Milking & Poultry Machines
• Haymaking Machines

By Forestry Machine

• Forwarders
• Chainsaw
• Swing Machines
• Skidders
• Bunchers
• Loaders
• Others

By Region

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

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