Latest News- Agricultural Machinery Market: Tractors is expected to lead the Type segment during 2025-2029

The Agricultural Machinery Market is being driven by Government subsidies to promote agricultural sector

The Agricultural Machinery Market is expected to grow at a CAGR of 5.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 50 billion. In the Agricultural Machinery Market, small agricultural tractors, particularly those under 25 horsepower, are projected to experience substantial growth during the forecast period. These tractors are primarily favored in horticulture farming and specialized agricultural segments. Additionally, they hold significant demand within the small-scale farming sector. Countries with a larger agricultural GDP contribution, such as those in APAC, South America, and MEA, often rely heavily on manual labor for farming due to low mechanization rates. Farm sizes in these regions are typically small to medium, leading OEMs to predominantly offer low-power range tractors. Consequently, the popularity of small tractors in these regions is anticipated to persist. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Tractors
  • Harvesting machinery
  • Haying machinery
  • Planting and fertilizing machinery
  • Plowing and cultivating machinery
• Application
  • Land development and seedbed preparation
  • Sowing and planting
  • Harvesting and threshing
  • Others
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Government subsidies to promote agricultural sector
• Expansion of arable land
• High labor shortage in farming

However, the market also witnesses some limitations, which are as follows:

• Availability of agricultural tractors on rental basis
• High costs of agricultural machinery
• Stringent regulations on developments of agricultural machinery

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Market Scope in Agricultural Machinery Market Research Report

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Research Analysis Overview

The Agricultural Machinery Market encompasses various sectors including smart farming, regenerative agriculture, agricultural robotics, and agricultural education. It also covers agricultural innovation, food supply chain, sustainable agriculture, agricultural data analytics, hydroponics, agricultural insurance, organic farming, and vertical farming. Additionally, it involves farm financing, greenhouse farming, precision agriculture, climate-smart agriculture, agricultural equipment, farm management, digital agriculture, agricultural marketing, farm management software, crop yield, farm automation, agricultural economics, agroforestry, farming technology, food security, agricultural policy, farm labor, agricultural research, aquaponics, agritech, urban agriculture, agricultural sensors, sustainable agriculture practices, agricultural engineering, agricultural supply chain, agricultural genetics, future of agriculture, agricultural biotechnology, and farming technology. This market is dedicated to advancing farming practices through the use of technology, promoting food security, and ensuring sustainable and profitable agricultural production.

Market Research Overview

The global agricultural and farm machinery market encompasses businesses engaged in the manufacturing of agricultural and farm machinery, as well as associated components. This sector comprises a range of equipment, including agricultural tractors, haying machinery, harvesting machinery, planting machinery, livestock machinery, spraying machinery, tillage machinery, and irrigation systems. According to Technavio's market analysis, key growth drivers for this market include the escalating demand for mechanized agriculture due to increasing food production requirements, the need for enhanced farm productivity in developing countries, the adoption of modern farming practices, and the burgeoning population leading to a demand for cost-effective labor alternatives. Market expansion is further fueled by the continuous launch of innovative machinery solutions from leading vendors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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