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Global Farm Machinery and Equipment Market Growth 2021-2026: CAGR of 8.2% Forecast with Market Forecast to Reach $276.85 billion in 2025

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Dublin, Sept. 09, 2021 (GLOBE NEWSWIRE) -- The "Farm Machinery and Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

The global farm machinery and equipment market is expected to grow from $183.85 billion in 2020 to $201.83 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $276.85 billion in 2025 at a CAGR of 8.2%.

The farm machinery and equipment market consists of sales of farm machinery and equipment by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing agricultural and farm machinery and equipment, and other turfs and grounds care equipment, including planting, harvesting, and grass mowing equipment (except lawn and garden-type). Only goods and services traded between entities or sold to end consumers are included.

Eco-friendly electric tractors are likely to be an emerging trend in the farm machinery and equipment market. Eco-friendly tractors operate through electronic batteries that can be recharged simply by plugging them into a standard socket and doesn't require any kind of fuel that creates air pollution. There are also many tractors where farmers can install wind or solar power to produce electricity to charge the tractor's batteries. For instance, in India, in March 2020, a startup company Cellestial E-Mobility launched an electric tractor, which is not only eco-friendly and cost-effective but also gives the same power as that of its diesel counterpart and available cheaper than diesel tractors. The zero-emission tractor features battery swapping, regenerative braking, and also helps to power an UPS.

The integration of Internet of Things (IoT) applications in farm equipment is expected to drive the market of farm machinery and equipment. The world's population will surpass 9 billion people by 2050. Farmers need access to better instruments and practices that will help them to deliver more agricultural products in less time. Farmers need to adopt new and modern technologies to produce food for the ever-expanding population. For instance, the utilization of a smart greenhouse which operates with the help of IoT enables to monitor and control climate without human intervention. The IoT sensors in the smart greenhouse provide information on the light levels, pressure, humidity, and temperature and also control the actuators automatically to open a window, turn on lights, control a heater, turn on a mister, or turn on a fan. Therefore, IoT help increases production with reduced labor and drives the farm machinery and equipment market.

Major players in the farm machinery and equipment market are AGCO Corporation, CLAAS KGaA mbH, CNH Industrial N.V., Escorts Group, ISEKI & Co., Ltd., John Deere (Deere & Company), Kubota Corporation, Mahindra & Mahindra Limited, Same Deutz-Fahr Group S.p.A. (SDF), and Valmont Industries Inc.

Key Topics Covered:

1. Executive Summary

2. Farm Machinery and Equipment Market Characteristics

3. Farm Machinery and Equipment Market Trends and Strategies

4. Impact of COVID-19 on Farm Machinery and Equipment

5. Farm Machinery and Equipment Market Size and Growth

6. Farm Machinery and Equipment Market Segmentation

7. Farm Machinery and Equipment Market Regional and Country Analysis

8. Asia-Pacific Farm Machinery and Equipment Market

9. China Farm Machinery and Equipment Market

10. India Farm Machinery and Equipment Market

11. Japan Farm Machinery and Equipment Market

12. Australia Farm Machinery and Equipment Market

13. Indonesia Farm Machinery and Equipment Market

14. South Korea Farm Machinery and Equipment Market

15. Western Europe Farm Machinery and Equipment Market

16. UK Farm Machinery and Equipment Market

17. Germany Farm Machinery and Equipment Market

18. France Farm Machinery and Equipment Market

19. Eastern Europe Farm Machinery and Equipment Market

20. Russia Farm Machinery and Equipment Market

21. North America Farm Machinery and Equipment Market

22. USA Farm Machinery and Equipment Market

23. South America Farm Machinery and Equipment Market

24. Brazil Farm Machinery and Equipment Market

25. Middle East Farm Machinery and Equipment Market

26. Africa Farm Machinery and Equipment Market

27. Farm Machinery and Equipment Market Competitive Landscape and Company Profiles
27.1. Farm Machinery and Equipment Market Competitive Landscape
27.2. Farm Machinery and Equipment Market Company Profiles
27.2.1. AGCO Coporation
27.2.2. CLAAS KGaA mbH
27.2.3. CNH Industrial N.V.
27.2.4. Escorts Group
27.2.5. ISEKI & Co., Ltd.

29. Key Mergers and Acquisitions in the Farm Machinery and Equipment Market

29. Farm Machinery and Equipment Market Future Outlook and Potential Analysis


For more information about this report visit https://www.researchandmarkets.com/r/yj41zx

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