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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Agricultural and Forestry Machinery Market Size
The global agricultural and forestry machinery market size reached a value of around USD 147.93 billion in 2023. The market is expected to grow at a CAGR of 4% between 2024 and 2032, reaching a value of around USD 211.50 billion by 2032.
Key Trends in the Market
Agriculture and forestry machines aid farmers and other personnel in carrying out farming and other forestry operations. These machines are available in different designs and serve a wide range of functions, including harvesting, soil preparation, haymaking, and agriculture spraying. Using machinery, farmers can cultivate larger areas of land quickly and efficiently and foresters can optimise overall operations.
- During the forecast period, one of the key agricultural and forestry machinery market trends includes the growing effort in numerous regions towards incorporating technological advancements in the agriculture and forest sector. A greater understanding of the role technology plays in farming and agriculture is contributing to the growth of the global market.
- The growing population throughout the globe is also posing a high demand for food, bolstering the need for high-yield agriculture techniques and technologies that can maximise the available land, which is propelling the agricultural and forestry machinery market growth.
- The increasing focus on protection of forests to conserve the environment is leading to many regions developing and promoting forests as natural parks. As more tourists and locals visit forests for their natural beauty, there is a greater demand for forestry machinery to maintain the forests.
- The use of IoT and GPS in agricultural machinery benefits numerous processes, such as high-precision positioning systems and other IT applications and is also a major driver of the global market's expansion.
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 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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124