Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 150.2 Billion | USD 264.7 Billion | 6.5% | 2021 |
FrequentlyAsked Questions
Global population growth has led to an enormous increase in food demand, which has led to a demand for efficient ways to increase agricultural productivity using new farming equipment. The market patterns are then likely to be influenced by this.
According to the report, the global market size was worth around USD 150.2 billion in 2021 and is predicted to grow to around USD 264.7 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2022 and 2030.
The global agriculture equipment market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the increasing government initiatives and new product launches in the region.
The global agriculture equipment market is dominated by players like Alamo Group Inc., AGCO Corporation, Argo Tractors S.p.A., Bucher, CNH Industrial N.V., Deere & Company, Escorts Limited, KUBOTA Corporation, Mahindra & Mahindra Ltd, YANMAR HOLDINGS Co., Ltd., CLAAS KGaA mbH, ZETOR TRACTORS a.s., Valmont Industries, Inc., JCB, among others.
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