Agriculture And Forestry Equipment Market
Agriculture and Forestry Equipment Market Forecasts to 2030 - Global Analysis By Equipment Type (Agricultural Equipment and Forestry Equipment), Power Source (Diesel-Powered, Electric-Powered and Hybrid-Powered), Application, End User, Distribution Channel and By Geography
According to Stratistics MRC, the Global Agriculture and Forestry Equipment Market is growing at a CAGR of 8.2% during the forecast period. A vast array of devices and instruments made for farming and forestry tasks are referred to as agriculture and forestry equipment. Tractors, harvesters, ploughs, irrigation systems, and specialized tools for planting, growing, and harvesting crops are some examples of this equipment. It includes equipment used in forestry for logging, planting trees, and processing wood. In agricultural practices and forest management, these tools improve productivity, efficiency, and sustainability. They are essential for food production, resource management, and environmental preservation.
According to the World Economic Forum, India has received $4.2 billion for agritech start-ups up until 2022.
Market Dynamics:
Driver:
Increased food demand
The growing global population and rising food demand are significant drivers for the agriculture and forestry equipment market. As the world's population continues to expand, there is an increasing need for efficient and productive agricultural practices to meet the rising food requirements. This trend encourages farmers and forestry operators to invest in advanced machinery and equipment to enhance productivity and yield. The demand for mechanized solutions in agriculture and forestry operations is further amplified by the need to optimize land use and increase output, driving the market for specialized equipment.
Restraint:
Lack of skilled operators
As equipment becomes more technologically advanced, there is a growing need for operators with specialized skills to efficiently use and maintain these machines. Many rural areas face challenges in attracting and retaining skilled labor, which can limit the adoption of advanced equipment. This skills gap can lead to underutilization of equipment capabilities, reduced operational efficiency, and increased maintenance costs. The need for extensive training programs and the time required to develop expertise in operating complex machinery further compound this challenge.
Opportunity:
Smart farming solutions
Advancements in technologies such as IoT, AI, and data analytics are enabling the development of precision agriculture and smart forestry practices. These solutions offer improved efficiency, reduced resource consumption, and enhanced decision-making capabilities. Smart equipment with features like GPS guidance, automated operations, and real-time monitoring can optimize resource use, reduce environmental impact, and increase productivity. The growing interest in sustainable and data-driven farming practices is driving demand for these innovative solutions, opening new avenues for market growth.
Threat:
Extreme weather conditions
Climate change has led to an increase in the frequency and severity of weather events such as droughts, floods, and storms, which can damage crops, forests, and equipment. These unpredictable weather patterns can disrupt farming and forestry operations, leading to reduced equipment utilization and increased maintenance costs. Additionally, extreme conditions may require specialized equipment adaptations, potentially increasing production costs for manufacturers. The uncertainty associated with climate change can also affect farmers' and forestry operators' investment decisions, potentially slowing market growth.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the agriculture and forestry equipment market. Initial supply chain disruptions and manufacturing delays led to equipment shortages. However, the essential nature of agriculture drove continued demand. The pandemic accelerated the adoption of automation and digital technologies to reduce reliance on manual labor. Long-term, it highlighted the importance of resilient and technologically advanced agricultural systems, potentially boosting market growth.
The distributors/dealers segment is expected to be the largest during the forecast period
Over the estimation period, the distributors/dealers segment is expected to dominate the agriculture and forestry equipment market due to its crucial role in equipment distribution and after-sales support. These intermediaries provide a vital link between manufacturers and end-users, offering local expertise, customized solutions, and essential services such as maintenance and repairs. Distributors and dealers often have established relationships with farmers and forestry operators, understanding their specific needs and preferences. Their ability to offer financing options, provide product demonstrations, and offer a wide range of equipment from various manufacturers makes them a preferred choice for many customers, contributing to their large market share.
The smallholder farmers segment is expected to have the highest CAGR during the forecast period
Over the estimation period, the smallholder farmers segment is anticipated to experience the highest CAGR in the agriculture and forestry equipment market. This growth is driven by increasing mechanization among small-scale farmers, particularly in developing regions. Government initiatives and subsidies aimed at improving agricultural productivity are encouraging smallholders to adopt modern equipment. The development of compact, affordable, and versatile machinery tailored to the needs of small farms is also fueling this growth. Additionally, the rising awareness of the benefits of mechanization in improving yields and reducing labor costs is prompting more smallholder farmers to invest in agricultural equipment, contributing to the segment's rapid expansion.
Region with largest share:
The Asia Pacific region is projected to account for the largest market share during the forecast period. This dominance can be attributed to the region's vast agricultural land, large population, and increasing focus on agricultural mechanization. Countries like China and India, with their significant agricultural sectors, are driving substantial demand for farming and forestry equipment. Government initiatives to modernize agriculture, coupled with rising labor costs, are encouraging the adoption of mechanized solutions. The region's rapid economic growth and increasing investments in agricultural technology further solidify its position as the largest market for agriculture and forestry equipment.
Region with highest CAGR:
The Asia Pacific region is projected to achieve the highest CAGR during the forecast period. This rapid growth is fueled by several factors, including increasing population, rising food demand, and government support for agricultural modernization. The region is witnessing a shift towards more efficient and productive farming practices, driving the adoption of advanced equipment. Emerging economies in the region are investing heavily in agricultural infrastructure and technology. The growing awareness of precision farming techniques and the need for sustainable agricultural practices are also contributing to the rapid growth of the agriculture and forestry equipment market in Asia Pacific.
Key players in the market
Some of the key players in Agriculture and Forestry Equipment Market include Deere & Company, AGCO Corporation, CNH Industrial N.V., Kubota Corporation, Caterpillar Inc., Claas KGaA mbH, Mahindra & Mahindra Limited, Komatsu Ltd., Tigercat International Inc., Ponsse Oyj, Volvo AB, Hitachi Construction Machinery Co., Ltd., Doosan Corporation, Escorts Limited, SDF Group, TAFE, JCB, and Yanmar Co., Ltd.
Key Developments:
In August 2024, John Deere announced the launch of a new and improved Minimum Tillage (MT) Series In-Line Ripper and Coulter Chisel (CC) Series, a first for the company, completing its tillage offerings. The new MT Series offers increased wear component longevity, enhancing dependability, while the CC Series achieves a working speed of 7 mph, providing farmers with improved productivity.
In February 2024, John Deere continued its legacy of delivering high-quality, customer-focused solutions with one of its largest product launches in the company’s 187-year history. At the Commodity Classic tradeshow in Houston, Texas, John Deere unveiled new cutting-edge equipment solutions for Model Year 2025. This is one of the largest product launches in our company’s history, and it reflects John Deere’s commitment to seeking input from our customers and delivering quality solutions that unlock new value for their operations,” said Aaron Wetzel, Vice President of Production & Precision Agriculture Production Systems.
Equipment Covered:
• Agricultural Equipment
• Forestry Equipment
Power Sources Covered:
• Diesel-Powered
• Electric-Powered
• Hybrid-Powered
Applications Covered:
• Crop Production
• Livestock Farming
• Forestry
• Horticulture
• Aquaculture
• Precision Farming
End Users Covered:
• Smallholder Farmers
• Large-Scale Commercial Farms
• Forestry Companies
• Government Agencies
Distribution Channels Covered:
• Direct Sales
• Distributors/Dealers
• Online Retail
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Agriculture and Forestry Equipment Market, By Equipment Type
5.1 Introduction
5.2 Agricultural Equipment
5.2.1 Tractors
5.2.2 Plowing & Cultivating Equipment
5.2.3 Planting Equipment
5.2.4 Harvesting Equipment
5.2.5 Crop Protection Equipment
5.2.6 Hay and Forage Equipment
5.2.7 Irrigation Equipment
5.2.8 Other Agricultural Equipment
5.3 Forestry Equipment
5.3.1 Felling Equipment
5.3.2 Harvesters
5.3.3 Forwarders
5.3.4 Wood Chippers
5.3.5 Stump Grinders
5.3.6 Other Forestry Equipment
6 Global Agriculture and Forestry Equipment Market, By Power Source
6.1 Introduction
6.2 Diesel-Powered
6.3 Electric-Powered
6.4 Hybrid-Powered
7 Global Agriculture and Forestry Equipment Market, By Application
7.1 Introduction
7.2 Crop Production
7.3 Livestock Farming
7.4 Forestry
7.4.1 Timber Harvesting
7.4.2 Forest Management
7.4.3 Reforestation
7.5 Horticulture
7.6 Aquaculture
7.7 Precision Farming
8 Global Agriculture and Forestry Equipment Market, By End User
8.1 Introduction
8.2 Smallholder Farmers
8.3 Large-Scale Commercial Farms
8.4 Forestry Companies
8.5 Government Agencies
9 Global Agriculture and Forestry Equipment Market, By Distribution Channel
9.1 Introduction
9.2 Direct Sales
9.3 Distributors/Dealers
9.4 Online Retail
10 Global Agriculture and Forestry Equipment Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Deere & Company
12.2 AGCO Corporation
12.3 CNH Industrial N.V.
12.4 Kubota Corporation
12.5 Caterpillar Inc.
12.6 Claas KGaA mbH
12.7 Mahindra & Mahindra Limited
12.8 Komatsu Ltd.
12.9 Tigercat International Inc.
12.10 Ponsse Oyj
12.11 Volvo AB
12.12 Hitachi Construction Machinery Co., Ltd.
12.13 Doosan Corporation
12.14 Escorts Limited
12.15 SDF Group
12.16 TAFE
12.17 JCB
12.18 Yanmar Co., Ltd.
List of Tables
1 Global Agriculture and Forestry Equipment Market Outlook, By Region (2022-2030) ($MN)
2 Global Agriculture and Forestry Equipment Market Outlook, By Equipment Type (2022-2030) ($MN)
3 Global Agriculture and Forestry Equipment Market Outlook, By Agricultural Equipment (2022-2030) ($MN)
4 Global Agriculture and Forestry Equipment Market Outlook, By Tractors (2022-2030) ($MN)
5 Global Agriculture and Forestry Equipment Market Outlook, By Plowing & Cultivating Equipment (2022-2030) ($MN)
6 Global Agriculture and Forestry Equipment Market Outlook, By Planting Equipment (2022-2030) ($MN)
7 Global Agriculture and Forestry Equipment Market Outlook, By Harvesting Equipment (2022-2030) ($MN)
8 Global Agriculture and Forestry Equipment Market Outlook, By Crop Protection Equipment (2022-2030) ($MN)
9 Global Agriculture and Forestry Equipment Market Outlook, By Hay and Forage Equipment (2022-2030) ($MN)
10 Global Agriculture and Forestry Equipment Market Outlook, By Irrigation Equipment (2022-2030) ($MN)
11 Global Agriculture and Forestry Equipment Market Outlook, By Other Agricultural Equipment (2022-2030) ($MN)
12 Global Agriculture and Forestry Equipment Market Outlook, By Forestry Equipment (2022-2030) ($MN)
13 Global Agriculture and Forestry Equipment Market Outlook, By Felling Equipment (2022-2030) ($MN)
14 Global Agriculture and Forestry Equipment Market Outlook, By Harvesters (2022-2030) ($MN)
15 Global Agriculture and Forestry Equipment Market Outlook, By Forwarders (2022-2030) ($MN)
16 Global Agriculture and Forestry Equipment Market Outlook, By Wood Chippers (2022-2030) ($MN)
17 Global Agriculture and Forestry Equipment Market Outlook, By Stump Grinders (2022-2030) ($MN)
18 Global Agriculture and Forestry Equipment Market Outlook, By Other Forestry Equipment (2022-2030) ($MN)
19 Global Agriculture and Forestry Equipment Market Outlook, By Power Source (2022-2030) ($MN)
20 Global Agriculture and Forestry Equipment Market Outlook, By Diesel-Powered (2022-2030) ($MN)
21 Global Agriculture and Forestry Equipment Market Outlook, By Electric-Powered (2022-2030) ($MN)
22 Global Agriculture and Forestry Equipment Market Outlook, By Hybrid-Powered (2022-2030) ($MN)
23 Global Agriculture and Forestry Equipment Market Outlook, By Application (2022-2030) ($MN)
24 Global Agriculture and Forestry Equipment Market Outlook, By Crop Production (2022-2030) ($MN)
25 Global Agriculture and Forestry Equipment Market Outlook, By Livestock Farming (2022-2030) ($MN)
26 Global Agriculture and Forestry Equipment Market Outlook, By Forestry (2022-2030) ($MN)
27 Global Agriculture and Forestry Equipment Market Outlook, By Timber Harvesting (2022-2030) ($MN)
28 Global Agriculture and Forestry Equipment Market Outlook, By Forest Management (2022-2030) ($MN)
29 Global Agriculture and Forestry Equipment Market Outlook, By Reforestation (2022-2030) ($MN)
30 Global Agriculture and Forestry Equipment Market Outlook, By Horticulture (2022-2030) ($MN)
31 Global Agriculture and Forestry Equipment Market Outlook, By Aquaculture (2022-2030) ($MN)
32 Global Agriculture and Forestry Equipment Market Outlook, By Precision Farming (2022-2030) ($MN)
33 Global Agriculture and Forestry Equipment Market Outlook, By End User (2022-2030) ($MN)
34 Global Agriculture and Forestry Equipment Market Outlook, By Smallholder Farmers (2022-2030) ($MN)
35 Global Agriculture and Forestry Equipment Market Outlook, By Large-Scale Commercial Farms (2022-2030) ($MN)
36 Global Agriculture and Forestry Equipment Market Outlook, By Forestry Companies (2022-2030) ($MN)
37 Global Agriculture and Forestry Equipment Market Outlook, By Government Agencies (2022-2030) ($MN)
38 Global Agriculture and Forestry Equipment Market Outlook, By Distribution Channel (2022-2030) ($MN)
39 Global Agriculture and Forestry Equipment Market Outlook, By Direct Sales (2022-2030) ($MN)
40 Global Agriculture and Forestry Equipment Market Outlook, By Distributors/Dealers (2022-2030) ($MN)
41 Global Agriculture and Forestry Equipment Market Outlook, By Online Retail (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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