Farm Equipment Market Size, Share, Trends, Industry Analysis Report: By Product, Application, and Region

Description

List of Tables

The farm equipment market size is expected to reach USD 285.66 billion by 2034, according to a new study by Polaris Market Research. The report "Farm Equipment Market: By Product (Tractors, Harvesters Machinery, Planting Equipment, Spraying Equipment, and Others), Application, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Farm equipment refers to machinery and tools used in agriculture to assist in tasks such as planting, harvesting, and maintaining crops, as well as managing livestock. Rising labor costs worldwide are driving the farm equipment market demand. Rising labor wages in the agricultural sector have made it increasingly difficult for farmers to rely solely on human labor. In many parts of the world, farm labor is becoming more expensive and harder to find, particularly for tasks such as planting, harvesting, and maintaining large crops. This situation has pushed farmers to adopt more efficient farm equipment that reduces their dependence on manual labor. Tractors, harvesters, and automated tools complete tasks much faster and more accurately, helping farmers save on labor costs and improve productivity, which propels the demand for farm machinery and boosts the farm equipment market growth.

Many governments across the world are offering financial support to farmers to encourage the use of modern farm equipment. These subsidies, grants, and low-interest loans make it easier for farmers to purchase expensive machinery, which helps improve agricultural efficiency and sustainability. In some countries, government programs are promoting the adoption of environmentally friendly equipment to reduce the environmental impact of farming. This financial assistance lowers the initial cost barrier for farmers, encouraging them to invest in advanced machinery that increases productivity and drives the farm equipment market development.

Farm Equipment Market Report Highlights

By application, the land development & seed bed preparation segment dominated the farm equipment market share in 2024 as it contains vital tasks such as plowing, tilling, and preparing the soil for planting

By product, the tractor segment is expected to witness significant growth during the forecast period as tractors are essential for a wide range of farming activities, including plowing, planting, and harvesting.

In 2024, North America dominated the farm equipment market revenue due to advanced farming techniques and large-scale agricultural operations.

Asia Pacific is expected to record a significant share during the forecast period due to rapid urbanization and increasing population, leading to the demand for higher agricultural productivity.

A few global key market players are AGCO Corporation, Case IH, Claas, CNH Industrial, Escorts Group, Deere & Company, Kubota Corporation, Mahindra & Mahindra, New Holland, Raven Industries, SDF Group, TAFE, Trimble, and Yanmar Holdings.

Polaris market research has segmented the farm equipment market report based on product, application, and region:

By Product (Revenue - USD Billion, 2020-2034)

Tractors
Harvesters Machinery
Planting Equipment
Spraying Equipment
Others

By Application (Revenue - USD Billion, 2020-2034)

Land Development & Seed Bed Preparation
Sowing & Planting
Weed Cultivation
Plant Protection
Harvesting & Threshing
Post-harvest & Agro-processing

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM5502

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Products
- 3.2.1. Primary Products
- 3.2.2. Secondary Products

4. Global Farm Equipment Market Insights

4.1. Farm Equipment Market - Market Snapshot
4.2. Farm Equipment Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Labor Shortage in Agriculture
  - 4.2.1.2. Rising Push Towards Sustainable Farming
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Cost of Manufacturing
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Farm Equipment Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Farm Equipment Market, by Product

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Farm Equipment Market, by Product, 2020-2034 (USD Billion)
5.3. Tractors
- 5.3.1. Global Farm Equipment Market, by Tractors, by Region, 2020-2034 (USD Billion)
5.4. Harvesters Machinery
- 5.4.1. Global Farm Equipment Market, by Harvesters Machinery, by Region, 2020-2034 (USD Billion)
5.5. Planting Equipment
- 5.5.1. Global Farm Equipment Market, by Planting Equipment, by Region, 2020-2034 (USD Billion)
5.6. Spraying Equipment
- 5.6.1. Global Farm Equipment Market, by Spraying Equipment, by Region, 2020-2034 (USD Billion)
5.7. Others
- 5.7.1. Global Farm Equipment Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Farm Equipment Market, by Application

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Farm Equipment Market, by Application, 2020-2034 (USD Billion)
6.3. Land Development & Seed Bed Preparation
- 6.3.1. Global Farm Equipment Market, by Land Development & Seed Bed Preparation, by Region, 2020-2034 (USD Billion)
6.4. Sowing & Planting
- 6.4.1. Global Farm Equipment Market, by Sowing & Planting, by Region, 2020-2034 (USD Billion)
6.5. Weed Cultivation
- 6.5.1. Global Farm Equipment Market, by Weed Cultivation, by Region, 2020-2034 (USD Billion)
6.6. Plant Protection
- 6.6.1. Global Farm Equipment Market, by Plant Protection, by Region, 2020-2034 (USD Billion)
6.7. Harvesting & Threshing
- 6.7.1. Global Farm Equipment Market, by Harvesting & Threshing, by Region, 2020-2034 (USD Billion)
6.8. Post-harvest & Agro-processing
- 6.8.1. Global Farm Equipment Market, by Post-harvest & Agro-processing, by Region, 2020-2034 (USD Billion)

7. Global Farm Equipment Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Farm Equipment Market Assessment, By Geography, 2020-2034 (USD Billion)
7.3. Farm Equipment Market - North America
- 7.3.1. North America: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
- 7.3.2. North America: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.3.3. Farm Equipment Market - U.S.
  - 7.3.3.1. U.S.: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.3.3.2. U.S.: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.3.4. Farm Equipment Market - Canada
  - 7.3.4.1. Canada: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.3.4.2. Canada: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
7.4. Farm Equipment Market - Europe
- 7.4.1. Europe: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
- 7.4.2. Europe: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.3. Farm Equipment Market - UK
  - 7.4.3.1. UK: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.3.2. UK: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.4. Farm Equipment Market - France
  - 7.4.4.1. France: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.4.2. France: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.5. Farm Equipment Market - Germany
  - 7.4.5.1. Germany: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.5.2. Germany: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.6. Farm Equipment Market - Italy
  - 7.4.6.1. Italy: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.6.2. Italy: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.7. Farm Equipment Market - Spain
  - 7.4.7.1. Spain: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.7.2. Spain: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.8. Farm Equipment Market - Netherlands
  - 7.4.8.1. Netherlands: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.8.2. Netherlands: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.9. Farm Equipment Market - Russia
  - 7.4.9.1. Russia: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.9.2. Russia: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.4.10. Farm Equipment Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.4.10.2. Rest of Europe: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
7.5. Farm Equipment Market - Asia Pacific
- 7.5.1. Asia Pacific: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
- 7.5.2. Asia Pacific: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.3. Farm Equipment Market - China
  - 7.5.3.1. China: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.3.2. China: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.4. Farm Equipment Market - India
  - 7.5.4.1. India: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.4.2. India: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.5. Farm Equipment Market - Malaysia
  - 7.5.5.1. Malaysia: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.5.2. Malaysia: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.6. Farm Equipment Market - Japan
  - 7.5.6.1. Japan: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.6.2. Japan: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.7. Farm Equipment Market - Indonesia
  - 7.5.7.1. Indonesia: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.7.2. Indonesia: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.8. Farm Equipment Market - South Korea
  - 7.5.8.1. South Korea: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.8.2. South Korea: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.9. Farm Equipment Market - Australia
  - 7.5.9.1. Australia: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.9.2. Australia: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.5.10. Farm Equipment Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.5.10.2. Rest of Asia Pacific: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
7.6. Farm Equipment Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
- 7.6.2. Middle East & Africa: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.6.3. Farm Equipment Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.6.4. Farm Equipment Market - UAE
  - 7.6.4.1. UAE: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.6.4.2. UAE: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.6.5. Farm Equipment Market - Israel
  - 7.6.5.1. Israel: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.6.5.2. Israel: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.6.6. Farm Equipment Market - South Africa
  - 7.6.6.1. South Africa: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.6.6.2. South Africa: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.6.7. Farm Equipment Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.6.7.2. Rest of Middle East & Africa: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
7.7. Farm Equipment Market - Latin America
- 7.7.1. Latin America: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
- 7.7.2. Latin America: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.7.3. Farm Equipment Market - Mexico
  - 7.7.3.1. Mexico: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.7.3.2. Mexico: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.7.4. Farm Equipment Market - Brazil
  - 7.7.4.1. Brazil: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.7.4.2. Brazil: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.7.5. Farm Equipment Market - Argentina
  - 7.7.5.1. Argentina: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.7.5.2. Argentina: Farm Equipment Market, by Application, 2020-2034 (USD Billion)
- 7.7.6. Farm Equipment Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Farm Equipment Market, by Product, 2020-2034 (USD Billion)
  - 7.7.6.2. Rest of Latin America: Farm Equipment Market, by Application, 2020-2034 (USD Billion)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. AGCO Corporation
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Case IH
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Claas
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. CNH Industrial
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Deere & Company
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Escorts Group
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Kubota Corporation
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. Mahindra & Mahindra
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. New Holland
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
9.10. Raven Industries
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
9.11. SDF Group
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
9.12. TAFE
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
9.13. Trimble
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
9.14. Yanmar Holdings
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development