Market Research Report

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Global Powered Agriculture Equipment Market

Focus on Equipment, Application, and Country Analysis - Analysis and Forecast, 2019-2026

 
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The global powered agriculture market was valued at $57.39 billion in 2021, which is expected to grow with a CAGR of 5.02% and reach $73.32 billion by 2026.

The top market players are Deere & Company, Kubota Corporation, AGCO Corporation, AeroVironment, Inc., CLAAS Group, CNH Industrial N.V., ISEKI & CO., LTD., Mahindra & Mahindra Ltd., Robert Bosch GmbH, Trimble Inc., SDF Group, Parrot SA, Harvest Automation, PrecisionHawk Inc., Tirth Agro Technology Private Limited, Kinze Manufacturing, Tractors and Farm Equipment Limited, Yanmar Holdings Co., Ltd, ZETOR TRACTORS a.s.

Factors driving the growth of the powered agriculture equipment market are the rising global food insecurity, and rising demand for autonomous equipment, and increasing government initiatives for sustainable food production.

Some of the main challenges restricting the growth of the powered agriculture equipment market are high initial investment cost, and lack of technical knowledge and awareness.

The potential opportunities that are likely to boost the growth of the powered agriculture equipment market are the rising opportunities in developing countries, the adoption of drones and robots in agriculture, and the integration of GIS in agriculture technology.

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