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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.
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 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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Agricultural and Forestry Machinery Market Analysis
8.1 Key Industry Highlights
8.2 Global Agricultural and Forestry Machinery Historical Market (2018-2023)
8.3 Global Agricultural and Forestry Machinery Market Forecast (2024-2032)
8.4 Global Agricultural and Forestry Machinery Market by Product
8.4.1 Tractors
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Harvesters
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Soil Preparation and Cultivation Machines
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Agriculture Spraying Machines
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Milking and Poultry Machines
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Haymaking Machines
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Agricultural and Forestry Machinery Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
9 North America Agricultural and Forestry Machinery Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Agricultural and Forestry Machinery Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Agricultural and Forestry Machinery Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Agricultural and Forestry Machinery Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Agricultural and Forestry Machinery Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Deere & Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 AGCO Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AKG Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mahindra & Mahindra Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 China National Machinery Industry Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Valmont Industries, Inc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Junkkari Oy
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Escorts Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 SDF S.p.A.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Komatsu Forest
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Agricultural and Forestry Machinery Market: Key Industry Highlights, 2018 and 2032
2. Global Agricultural and Forestry Machinery Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Agricultural and Forestry Machinery Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Agricultural and Forestry Machinery Historical Market: Breakup by Region (USD Million), 2018-2023
5. Global Agricultural and Forestry Machinery Market Forecast: Breakup by Region (USD Million), 2024-2032
6. North America Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2024-2032
8. Europe Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2023
9. Europe Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2023
13. Latin America Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Middle East and Africa Agricultural and Forestry Machinery Historical Market: Breakup by Country (USD Million), 2018-2023
15. Middle East and Africa Agricultural and Forestry Machinery Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Global Agricultural and Forestry Machinery Market Structure
In 2023, 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 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 211.50 billion by 2032.
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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