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Global Agricultural and Forestry Machinery Market Share, Size, Trends, Growth: By Product: Tractors, Harvesters, Soil Preparation and Cultivation Machines, Agriculture Spraying Machines, Milking and Poultry Machines, Haymaking Machines, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Agricultural and Forestry Machinery Market Outlook
The global agricultural and forestry machinery market size reached a value of around USD 142.1 billion in 2022. The market is expected to grow at a CAGR of 4.10% between 2023 and 2028, reaching a value of around USD 180.1 billion by 2028.
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Key Trends in the Market
Agriculture and forestry machines aid farmers and other personnel in carrying out farming and other forestry operations. These machines are available in different designs and serve a wide range of functions, including harvesting, soil preparation, haymaking, and agriculture spraying. Using machinery, farmers can cultivate larger areas of land quickly and efficiently and foresters can optimise overall operations.
- During the forecast period, one of the key agricultural and forestry machinery market trends includes the growing effort in numerous regions towards incorporating technological advancements in the agriculture and forest sector. A greater understanding of the role technology plays in farming and agriculture is contributing to the growth of the global market.
- The growing population throughout the globe is also posing a high demand for food, bolstering the need for high-yield agriculture techniques and technologies that can maximise the available land, which is propelling the agricultural and forestry machinery market growth.
- The increasing focus on protection of forests to conserve the environment is leading to many regions developing and promoting forests as natural parks. As more tourists and locals visit forests for their natural beauty, there is a greater demand for forestry machinery to maintain the forests.
- The use of IoT and GPS in agricultural machinery benefits numerous processes, such as high-precision positioning systems and other IT applications and is also a major driver of the global market's expansion.
Global Agricultural and Forestry Machinery Market Analysis
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Based on product, the market is divided into tractors, harvesters, soil preparation and cultivation machines, agriculture spraying machines, milking and poultry machines, and haymaking machines, among others. The regional markets for agricultural and forestry machinery are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global agricultural and forestry machinery market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Deere & Company
- AGCO Corporation
- AKG Group
- Mahindra & Mahindra Ltd
- China National Machinery Industry Corporation
- Valmont Industries, Inc
- Junkkari Oy
- Escorts Limited
- SDF S.p.A.
- Komatsu Forest
- Others
Market Share by Product
Tractors hold a significant agricultural and forestry machinery market share in terms of product due to their widespread use in farming. The most common and versatile tractors in farming are wheeled tractors, which are used for a broad range of tasks. Other types of tractors used in farming include mini tractors, track tractors, and orchard tractors. Any farm enterprise can use these tractors, although their primary function may be to tow agricultural equipment including cultivators, harvesters, sprayers, and more.
Harvesters, also known as combiners, are another common agricultural machine that has seen expansion in recent years. Even farmers who grow low volumes of grains can benefit from harvesters as these machines make crop harvesting more efficient. In addition, the introduction of new harvesters will likely elevate the segment market growth in the future.
Market Share by Region
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Asia Pacific experienced significant growth in recent years in the agricultural and forestry machinery market due to a greater usage of farming machinery and mechanised farming practises among farmers. With large populations in the region, there is greater emphasis on food production for food security. The utilisation of innovative and cutting-edge agricultural machinery in the region has increased as a result of it being one of the main regions involved in the agricultural sector.
Increases in per capita income and population, particularly in India, encourage the use of innovative farming techniques rather than physical labour. China and India are leading countries in the global agriculture sector, which is further accelerating the market growth for agricultural and forestry machinery in the Asia Pacific.
Meanwhile, in Europe the region's sales of forestry machinery are being supported by a number of actions made by EU nations to promote forestry activities with the aid of national development programmes. Globally increasing food demand has prompted aggressive farming practises, which in turn have caused the conversion of forest lands into arable lands. This led to the development of mechanised techniques as well, which increased the agricultural and forestry machinery market demand globally.
Competitive Landscape
Deere & Company, with its headquarters in Illinois in the United States is one of the largest producers of agricultural and lawn equipment worldwide. The company, which was established in 1837, specialises in the production and distribution of machinery for forestry, construction, agricultural, and grass maintenance. Agriculture and turf, construction and forestry, and financial services comprise its operating segments.
AGCO Corporation, with its headquarters in Georgia in the United States, is a market leader in the development, production, and marketing of intelligent agricultural solutions. The widest range of tractors, seeding and tillage tools, combine harvesters, grain storage, hay and forage equipment, and protein production systems are all part of its industry-leading portfolio.
China National Machinery Industry Corporation, established in 1997 is a Chinese conglomerate with operations in tool manufacturing, construction equipment, agricultural equipment, and infrastructure development. The company manufactures a variety of goods, including heavy machinery, engineering machinery, geological equipment, power machinery, machine tools, and machine parts. China National Machinery largely markets its products within China, with selective global sales.
Other market players include AKG Group, Mahindra & Mahindra Ltd, Valmont Industries, Inc, Junkkari Oy, Escorts Limited, SDF S.p.A., and Komatsu Forest, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Agricultural and Forestry Machinery Market Analysis
8.1 Key Industry Highlights
8.2 Global Agricultural and Forestry Machinery Historical Market (2018-2022)
8.3 Global Agricultural and Forestry Machinery Market Forecast (2023-2028)
8.4 Global Agricultural and Forestry Machinery Market by Product
8.4.1 Tractors
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Harvesters
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Soil Preparation and Cultivation Machines
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Agriculture Spraying Machines
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Milking and Poultry Machines
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Haymaking Machines
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Agricultural and Forestry Machinery Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Agricultural and Forestry Machinery Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Agricultural and Forestry Machinery Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Agricultural and Forestry Machinery Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Agricultural and Forestry Machinery Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Agricultural and Forestry Machinery Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Deere & Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 AGCO Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AKG Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mahindra & Mahindra Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 China National Machinery Industry Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Valmont Industries, Inc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Junkkari Oy
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Escorts Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 SDF S.p.A.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Komatsu Forest
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Agricultural and Forestry Machinery Market: Key Industry Highlights, 2018 and 2028
2. Global Agricultural and Forestry Machinery Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Agricultural and Forestry Machinery Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Agricultural and Forestry Machinery Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Agricultural and Forestry Machinery Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Agricultural and Forestry Machinery Market Structure
Key Questions Answered in the Report
In 2022, the global market for agricultural and forestry machinery attained a value of nearly USD 142.1 billion.
The market is projected to grow at a CAGR of 4.10% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 180.1 billion by 2028.
The major drivers of the agricultural and forestry machinery market include the increasing demand for food, growing population and increasing investments by various governments and prominent players.
The constantly growing demand for advanced machinery, use of machinery integrated with latest technologies such as telematics and GPS, and increasing awareness regarding the role of technology in farming are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market are Deere & Company, AGCO Corporation, AKG Group, Mahindra & Mahindra Ltd, China National Machinery Industry Corporation, Valmont Industries, Inc, Junkkari Oy, Escorts Limited, SDF S.p.A., and Komatsu Forest, among others.
With the appropriate agricultural equipment, farmers can increase profits, reduce operational expenses, and grow more crops with less labour.
In order to fulfil the growing need for food, fuel, and fibre on a global scale, modern agriculture technology is a progressive approach to agricultural technologies and farming techniques that enables farmers to boost productivity and conserve natural resources like water, land, and energy.
The various products in the market include tractors, harvesters, soil preparation and cultivation machines, agriculture spraying machines, milking and poultry machines, and haymaking machines, among others.
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