농업기계 세계 시장 규모는 2022년에 1,556억 8,000만 달러를 기록했으며, 2023년 1,634억 6,000만 달러에서 2031년에는 2,535억 9,000만 달러로 성장하고, 예측기간(2024-2031년) 동안 CAGR은 5.1%로 성장할 전망입니다.
농업기계 시장은 트랙터, 수확기, 파종기에 대한 수요 증가로 인해 크게 변동하고 있으며, 이는 주문자 상표 부착 제품 제조업체(OEM)와 딜러의 재고 수준에 영향을 미치고 있습니다. 이러한 수요 급증에 따라 반도체는 전 세계적으로 부족하고, 철강 및 알루미늄과 같은 필수 원자재 비용이 상승하여 생산 공정이 복잡해지고 있습니다. 미국기계공업협회(AEM)는 2021년 북미 딜러 재고에서 약 36만 대의 트랙터와 콤바인이 판매될 것으로 예상하고 있으며, 미국과 캐나다 모두에서 판매량이 꾸준히 증가할 것으로 전망하고 있습니다. 실제로 2019년에는 농업용 트랙터와 콤바인 판매량이 정점을 찍으며 다양한 부문에서 10% 이상 증가했습니다. 최근 미국의 농업용 트랙터 판매량은 2020년 12월에 비해 0.3% 증가했으며, 자체 추진 콤바인 판매량은 25.3%의 놀라운 성장세를 보였습니다. 전년도 데이터에 따르면 트랙터는 10.3%, 콤바인은 24.7% 증가했습니다. 주목할 만한 점은 40마력 이하 트랙터는 8.9%의 소폭 성장으로 북미 시장에서 유일하게 10% 미만의 성장률을 기록한 카테고리로 기록됐다는 점입니다. 농업기계 업계가 이러한 도전과 기회를 극복하는 과정에서 시장 역학을 이해하고 전략을 조정하는 것은 이해관계자들이 성장을 유지하고 진화하는 농업의 요구에 부응하는 데 매우 중요합니다.
Global Agriculture Equipment Market size was valued at USD 155.68 billion in 2022 and is poised to grow from USD 163.46 billion in 2023 to USD 253.59 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).
The agricultural equipment market is witnessing significant shifts driven by heightened demand for tractors, harvesters, and planters, impacting inventory levels for Original Equipment Manufacturers (OEMs) and their dealers. This surge in demand has been accompanied by a global shortage of semiconductors and increased costs for essential raw materials, such as steel and aluminum, complicating production processes. The Association of Equipment Manufacturers (AEM) forecasts the sale of nearly 360,000 tractors and combines from dealer inventories in North America for 2021, with both the U.S. and Canada experiencing robust growth in unit sales. In fact, 2019 marked a peak year, with sales of agricultural tractors and combines rising by over 10% across various sectors. More recently, there was a 0.3% rise in U.S. farm tractor sales compared to December 2020, while self-propelled combine sales surged by an impressive 25.3%. The previous year's data highlights an overall increase of 10.3% for tractors and 24.7% for combines. Notably, sub-40 horsepower tractors exhibited a modest growth of 8.9%, positioning them as the only category with growth rates below 10% in the North American market. As the ag equipment industry navigates these challenges and opportunities, understanding market dynamics and adapting strategies will be crucial for stakeholders in sustaining growth and meeting evolving agricultural needs.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Agriculture Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Agriculture Equipment Market Segmental Analysis
Global Agriculture Equipment Market is segmented by Product, by Application, and by Region. Based on Product, the market is segmented into Tractors, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, and Others. Based on Application, the market is segmented into Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro-processing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Agriculture Equipment Market
The Global Agriculture Equipment market is significantly influenced by various government initiatives aimed at enhancing the efficiency of soil preparation and cultivation. These initiatives often include reduced import tariffs, low-interest loans, and additional supportive measures designed to facilitate access to agricultural equipment. Financial institutions, such as banks and microfinance organizations, have emerged to provide easier loan access for purchasing farming machinery. For instance, John Deere's "Own It" program allows consumers to acquire essential equipment with manageable monthly payments. Furthermore, entities like the US Farm Service Agency (FSA) play a vital role by offering loans to farmers who have difficulty securing commercial financing, thus contributing to the sustainable growth of the agricultural sector.
Restraints in the Global Agriculture Equipment Market
The Global Agriculture Equipment market faces significant restraints primarily due to rapid urbanization in both developed and developing countries, which has resulted in the declining availability of land for agricultural use and efficient plowing. This reduction in arable land-decreasing from 38.9% in 1989 to 36.9% in 2018, as reported by the World Bank-hinders the growth of the sector. Furthermore, the rising costs associated with retaining skilled labor exacerbate these challenges. A forthcoming United Nations Convention report predicts that urbanization may lead to the loss of between 1.6 and 3.3 million hectares of prime agricultural land annually between 2000 and 2030, further restricting the market's expansion.
Market Trends of the Global Agriculture Equipment Market
The Global Agriculture Equipment market is experiencing significant growth driven by the integration of advanced technologies, including IoT, AI, GPS, and drones. These innovations enable farmers to optimize operational efficiency, reduce costs, and enhance productivity through automation and data-driven insights. Manufacturers are actively evolving their product offerings to meet the rising demand for smart agricultural solutions that simplify management and improve yield. The growing emphasis on sustainable practices and precision farming further propels market expansion as stakeholders seek to leverage technology for better resource management, ultimately reshaping the agricultural landscape and positioning the sector for robust growth in the coming years.