Global Farm equipment Market Size, Trends & Growth Opportunity, By Drive type (Two-wheel, Four-wheel), By Equipment type (Tractors, Combines, Sprayers, Balers, Others), By Power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, >250 HP), by Propulsion (Battery Electric, Hybrid Electric) By Region and Forecast till 2027.
Report ID : QR1001368 | Industries : Information and Communication Technology | Published On :January 2022 | Page Count : 234Global Farm equipment Market
The global Farm equipment market was valued at USD 99.4 Billion in 2020 which expected to reach USD 126.0 Billion by 2027 at a CAGR 4.1% from 2020-2027.
Farm equipment refers to any type of machinery used on a farm to aid in farming. A tractor is the most well-known example. There are numerous other farm implements. The mechanical structures and devices used in farming or other agriculture are referred to as agricultural machinery. There are numerous types of such equipment, ranging from hand tools and power tools to tractors and the numerous farm implements that they tow or operate.
Market Drivers
Government assistance in the form of farm loan waivers/credit financing
Farmers are encouraged to purchase farm equipment as a result of the implementation of farm loan waiver schemes. Governments around the world launched various programmes to help farmers pay off their loans and encourage farm mechanization. According to the Organization for Economic Cooperation and Development's (OECD) Agricultural Policy Monitoring and Evaluation, 2019, farm policies in 53 countries–all OECD, EU countries, and 12 key emerging economies–provided an average of USD 728 billion per year in direct support to farmers from 2018 to 2020.
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Market Restraints
Growth of rental market
The purchase of farm equipment such as tractors and harvesters is a significant investment in agricultural activities, accounting for the majority of the global rental market. All of the steps involved in designing, manufacturing, and distributing the equipment necessitate large investments, which are reflected in the price of the machinery made available to farmers. Due to small farmers' inability to invest large sums, farm equipment penetration in emerging countries is low.
Impact of COVID-19
Despite the fact that COVID-19 has disrupted the entire supply chain, the agricultural industry appears to have been the least affected of all industries. This was primarily due to the government's decision to classify agricultural activities as essential services. During COVID-19, the agricultural industry faced four major challenges: a limited supply of farm equipment parts, a drop in new tractor sales in the first half, the closure of production facilities, and a decrease in working capital. Regardless of the impact of COVID-19 on the farm equipment market, the market is expected to rebound by the end of 2021.
Market Segmentation
The Global Farm equipment Market is segmented into Drive type, Equipment type, Power output and Propulsion. By Drive type such as Two-wheel, Four-wheel. Further, market is segmented into By Equipment type such as Tractors, Combines, Sprayers, Balers, Others. By Power output such as <30 HP, 31–70 HP, 71–130 HP, 131–250 HP, >250 HP. By Propulsion such as Battery Electric, Hybrid Electric.
Regional Analysis
Global Farm equipment Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific has the largest market share and is expected to dominate the market during the forecast period. The Asia Pacific region includes China, India, Japan, South Korea, Australia, and the rest of Asia Oceania.
In addition to high containerized transportation, factors such as rising GDP, infrastructure investments, rising per capita income, a growing inclination toward mechanization, and government initiatives for FDI have created more opportunities for the farming business, driving the farm tractor market in the Asia Oceania region.
Key Players
Various key players are listed in this report such as John Deere, CNH Industrial, CLAAS, and AGCO Corporation, Mahindra and Mahindra, Yanmar
Market Taxonomy
By Drive type
- Two-wheel
- Four-wheel
By Equipment type
- Tractors
- Combines
- Sprayers
- Balers
- Others
By Power output
- <30 HP
- 31–70 HP
- 71–130 HP
- 131–250 HP
- >250 HP
By Propulsion
- Battery Electric
- Hybrid Electric
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Farm equipment Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Farm equipment Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Farm equipment Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Farm equipment Market, By Drive type
5.1 Y-o-Y Growth Comparison, By Drive type
5.2 Global Farm equipment Market Share Analysis, By Drive type
5.3 Global Farm equipment Market Size and Forecast, By Drive type
5.3.1 Two-wheel
5.3.2Four-wheel
6 Global Farm equipment Market, By Equipment type
6.1 Y-o-Y Growth Comparison, By Equipment type
6.2 Global Farm equipment Market Share Analysis, By Equipment type
6.3 Global Farm equipment Market Size and Forecast, By Equipment type
6.3.1 Tractors
6.3.2 Combines
6.3.3 Sprayers
6.3.4 Balers
6.3.5 Others
7 Global Farm equipment Market, By Power output
7.1 Y-o-Y Growth Comparison, By Power output
7.2 Global Farm equipment Market Share Analysis, By Power output
7.3 Global Farm equipment Market Size and Forecast, By Power output
7.3.1 <30 HP
7.3.2 31–70 HP
7.3.4 71–130 HP
7.4.5 131–250 HP
7.4.6 >250 HP
8 Global Farm equipment Market, By Propulsion
8.1 Y-O-Y Growth Comparison, By Propulsion
8.2 Global Farm equipment Market Share Analysis, By Propulsion
8.3 Global Farm equipment Market Size and Forecast, By Propulsion
8.3.1 Battery Electric
8.3.2Hybrid Electric
9 Global Farm equipment Market, By Region
9.1 Global Farm equipment Market Share Analysis, By Region
9.2 Global Farm equipment Market Share Analysis, By Region
9.3 Global Farm equipment Market Size and Forecast, By Region
10 North America Farm equipment Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 North America Farm equipment Market Share Analysis, By Drive type
10.3 North America Farm equipment Market Size and Forecast, By Equipment type
10.4 North America Farm equipment Market Size and Forecast, By Power output
10.5 North America Farm equipment Market Size and Forecast, By Propulsion
10.6 North America Farm equipment Market Size and Forecast, By Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
11 Europe Farm equipment Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Europe Farm equipment Market Share Analysis, By Drive type
11.3 Europe Farm equipment Market Size and Forecast, By Equipment type
11.4 Europe Farm equipment Market Size and Forecast, By Power output
11.5 Europe Farm equipment Market Size and Forecast, By Propulsion
11.6 Europe Farm equipment Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12 Asia Pacific Farm equipment Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Asia Pacific Farm equipment Market Share Analysis, By Drive type
12.3 Asia Pacific Farm equipment Market Size and Forecast, By Equipment type
12.4 Asia Pacific Farm equipment Market Size and Forecast, By Power output
12.5 Asia Pacific Farm equipment Market Size and Forecast, By Propulsion
12.6 Asia Pacific Farm equipment Market Size and Forecast, By Country
12.6.1 China
12.7.2 Japan
12.8.3 India
12.9.4. Rest of Asia Pacific
13 Latin America Farm equipment Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Latin America Farm equipment Market Share Analysis, By Drive type
13.3 Latin America Farm equipment Market Size and Forecast, By Equipment type
13.4 Latin America Farm equipment Market Size and Forecast, By Power output
13.5 Latin America Farm equipment Market Size and Forecast, By Propulsion
13.6 Latin America Farm equipment Market Size and Forecast, Country
13.7.1. Brazil
13.8.2. Rest of Latin America
14 Middle East Farm equipment Market Analysis and Forecast (2021-2027)
14.1 Introduction
14.2 Middle East Farm equipment Market Share Analysis, By Drive type
14.3 Middle East Farm equipment Market Size and Forecast, By Equipment type
14.4 Middle East Farm equipment Market Size and Forecast, By Power output
14.5 Middle East Farm equipment Market Size and Forecast, By Propulsion
14.6 Middle East Farm equipment Market Size and Forecast, By Country
14.7.1. Saudi Arabia
14.8.2. UAE
14.9.3. Egypt
14.10.4. Kuwait
14.11.5. South Africa
15Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 John Deere
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
17.2. CNH Industrial
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3 CLAAS
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 AGCO Corporation
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5 Mahindra and Mahindra
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 Yanmar
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies