Global Agricultural Equipment Market Forecasts To Reach 213.7 Billion Dollars By 2027

The size of the world market for agricultural equipment was 156.32 billion dollars in 2021. The market projects that it will reach 213.71 billion dollars by 2027, growing at a CAGR of 5.35% from 2021 to 2027.

Moreover, the market is being assessed for direct and indirect effects of the pandemic, keeping in mind the uncertainties of COVID-19.

Agriculture Equipment Market Trends-

At the moment, one of the major factors influencing the market is farmers' increasing awareness of the advantages of using agricultural equipment. In addition, governments in some nations are encouraging farmers to use agricultural equipment by offering loan waiver programmes. They also give farmers funds so they can use machinery to increase productivity and adopt sustainable agricultural practices, which helps the market expand.

A favorable market outlook is also being provided by the rising demand for electric tractors as a means of lowering air pollution and greenhouse gas emissions. In addition, major market players are making significant investments in research and development (R&D) activities to enable the introduction of self-propelled agricultural machinery. Additionally, they are concentrating on various marketing techniques to increase their clientele.

A further factor driving the market's expansion is the incorporation of technologically advanced agricultural robotics into farming, such as flying drones and autonomous tractors, to assist farmers in producing food at a profit.

Global Key Players In The Mechanization Industry-

Along with analyzing the industry's competitive landscape, the key players responsible for this machinery market growth includes several big names such as AGCO Corporation, Agromaster Agricultural Machinery, Argo Tractors S.p.A., Bellota Agrisolutions, China National Machinery Industry Corporation, CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, Escorts Limited, Iseki & Co. Ltd., JC Bamford Excavators ltd., Kubota corporation, and Mahindra & Mahindra ltd.

Agriculture equipment is used in a variety of farming tasks, including crop harvesting, spraying fields, seeding, tilling fields, breeding cows, and feeding livestock. Mowers, backhoes, harrows, cultivators, rakes, tractors, combine harvesters, sprayers, chain saws, brush cutters, and sawmills are all part of it. It improves farming efficiency and productivity by reducing human labor and errors, physical shortcomings, and waste in agriculture. It aids in land cultivation by smoothing hillocks, filling depressions and gullies, and removing deep-rooted weeds, all while preventing soil erosion. Furthermore, it reduces fodder area while increasing crop area to produce food for human consumption.

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