Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

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

 

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.

 

Agricultural and Forestry Machinery Market Report Snapshots

Agricultural and Forestry Machinery Market Size

Agricultural and Forestry Machinery Market Analysis

Agricultural and Forestry Machinery Market Share

Agricultural and Forestry Machinery Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global market for agricultural and forestry machinery attained a value of nearly USD 147.93 billion.

The market is projected to grow at a CAGR of 4% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 211.50 billion by 2034.

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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