농기계 시장 : 기계 유형별, 자동화 레벨별, 최종사용자별, 지역별(2026-2032년)

Agricultural Machinery Market Valuation - 2026-2032

The steady increase in demand for agricultural machinery, the global population is continuously increasing, creating a greater demand for food. This growing demand puts pressure on farmers to produce more products, necessitating efficient and productive agricultural operations. Agricultural machinery is essential for increasing yields and boosting farming efficiency. The market size surpass USD 202.83 Billion valued in 2024 to reach a valuation of around USD 373.53 Billion by 2032.

Many countries' rising urbanization and industrialization are depleting arable land resources. This has resulted in a move toward more intensive farming practices that rely largely on agricultural machinery to enhance output on limited land resources. Technological developments in agricultural machinery have made it more efficient, dependable, and economical, driving up demand. The rising demand for cost-effective and efficient agricultural machinery is enabling the market grow at a CAGR of 8.75% from 2024 to 2032.

Agricultural Machinery Market: Definition/ Overview

Agricultural machinery includes mechanical devices and equipment used in farming to increase production and efficiency. These machineries include tractors, harvesters, plows, seeders, irrigation systems, and milking machines. Agricultural technology is vital in modern agriculture as it reduces the amount of manual labor required, speeds up the agricultural process, and improves the quality of products. Precision technology, automation, and smart agricultural methods are becoming more common in these devices, making them an essential element in meeting global food demands.

Agricultural machinery is directly linked to technological breakthroughs, sustainability, and the expanding world population. Automation, robots, and AI-enabled equipment are projected to transform agriculture by enhancing output and resource efficiency. Environmental issues, such as the need to minimize emissions and conserve water, will spur innovation in sustainable machinery.

The introduction of data-driven solutions and GPS-based technologies will help to improve precision agriculture by reducing waste and increasing output. With rising worldwide food consumption, particularly in developing countries, the agricultural machinery market is expected to increase significantly in the future decades.

How will the Population Growth and Food Demand Drive the Growth of the Agricultural Machinery Market?

Population growth and increasing food consumption will drive the expansion of the agricultural machinery market. With the world's population expected to reach 9.7 billion by 2050, food production must increase by 70%. To meet this need, efficient agricultural technology is critical for increasing production, optimizing farming operations, and maintaining a sustainable food supply. The need for modern agricultural technologies will continue to rise as farmers strive to increase yields and meet the problems of feeding a growing population.

Precision agriculture will boost growth in the agricultural machinery market. The global precision agriculture market is expected to increase from USD 5.09 Billion in 2018 to $10.16 billion in 2025, driving up demand for modern machinery. Precision agriculture is based on data-driven tools and technologies that increase efficiency, minimize waste, and boost productivity, making modern farming practices more successful and driving the demand for advanced agricultural equipment.

How Do the Maintenance Costs Impact the Growth of the Agricultural Machinery Market?

Maintenance costs might have an impact on the growth of the agricultural machinery market. High maintenance costs, such as repair, servicing, and part replacement, can discourage farmers from investing in advanced technology, particularly small-scale farmers with limited resources. These charges may also raise the overall cost of ownership, reducing profitability and decreasing adoption rates. Frequent breakdowns or the requirement for specialized experts can disrupt farming operations, making maintenance an important driver in the market's expansion.

Regulatory changes can have an impact on the growth of the agricultural machinery market. Stricter environmental rules and safety standards may need upgrades or modifications to current machinery, increasing compliance costs for manufacturers and farmers. These regulations may stimulate innovation, driving manufacturers to create more efficient and environmentally friendly technology. If rules become excessively cumbersome, they may discourage investment in new gear, slowing market growth.

Category-Wise Acumens

Will the Technological Advancements Boost the Tractors Segment for the Agricultural Machinery Market?

The tractors segment is undoubtedly dominating the agricultural machinery market. Technological advances will propel the tractor segment of the agricultural machinery market. Automation, GPS technology, and data analytics improve tractor efficiency and precision, allowing farmers to optimize operations and boost productivity. Precision steering, autonomous driving capabilities, and greater fuel efficiency make new tractors more appealing to farmers looking to cut labor expenses while increasing production.

The rise in productivity over manual labor will drive the tractors segment of the agricultural machinery market. Tractors significantly enhance operational efficiency by completing operations like plowing, planting, and harvesting faster than manual laborers. This efficiency enables farmers to cover more areas in less time, resulting in increased crop yields and profitability. As labor shortages become more widespread and food demand rises, farmers are increasingly turning to tractors to ensure that they can address these problems successfully, driving up demand for this type of agricultural machinery.

Will the Reduced Labor Costs Fuel the Fully Autonomous Segment for the Agricultural Machinery Market?

The fully autonomous segment is experiencing the fastest growth in the agricultural machinery market. Reduced labor costs will boost the completely autonomous section of the agricultural machinery market. Fully autonomous technology reduces the need for manual labor by automating processes like planting, harvesting, and crop monitoring, greatly cutting farmers' operational costs. As labor shortages increase and wages grow, farmers are increasingly turning to self-sufficient alternatives to preserve productivity and efficiency. This trend not only improves profitability but also tackles the issues created by a dwindling worker force, resulting in increased demand for completely autonomous agricultural equipment.

Reducing the risk of accidents and injury to human workers will drive the completely autonomous section of the agricultural machinery market. Many hazardous duties that were previously undertaken by people, such as operating heavy equipment in difficult conditions or handling harmful materials, are now eliminated by fully autonomous machines. This improves worker safety while simultaneously lowering farmers' liability and insurance expenses. As the agricultural sector prioritizes safety and well-being, the demand for autonomous solutions that reduce human exposure to risk will continue to grow.

Country/Region-wise Acumens

Will the High Level of Mechanization Lead the North American Regions for the Agricultural Machinery Market?

North America dominates the agricultural machinery market. The increasing level of mechanization will boost the agricultural machinery market in North America. With a long history of adopting modern agricultural gear, North America has achieved an outstanding level of farm mechanization, as indicated by US farm businesses investing $12.6 billion in farm machinery in 2021, up 17.4% from the previous year. This growth is being driven by the increasing use of precision agriculture technologies, with 65% of corn and soybean farms in the United States adopting at least one technology by 2022, up from 30% in 2015. As mechanization improves efficiency and output, the need for advanced agricultural equipment in North America is likely to increase significantly.

Well-developed infrastructure will drive North America's agricultural machinery market. The region's substantial road networks and efficient transportation systems allow for the successful distribution and utilization of agricultural machinery, with over 4.2 million miles of public highways providing access to rural areas where the majority of agricultural activities take place. Increased access to high-speed internet-75% of US farms will have it by 2022-allows farmers to successfully adopt precision agriculture technologies, resulting to predicted cost reductions.

Will the Modernization of Agriculture Expand the Asia Pacific Region for the Agricultural Machinery Market?

The Asia-Pacific region is experiencing the fastest growth in the agricultural machinery market. The modernization of agriculture will drive the Asia Pacific agricultural machinery market. Governments are making significant expenditures to improve efficiency and productivity, as indicated by the Asian Development Bank's research, which states that agricultural production must increase by 70% by 2050 to fulfill rising food demand. In China, the 14th Five-Year Plan aspires for a 75% mechanization rate by 2025, contributing to a market of around $93 billion in 2022. Similarly, India's funding for the Sub-Mission on Agricultural Mechanization has increased by 32%, with market growth expected to reach USD 18.5 Billion by 2028. Japan's "Smart Agriculture" effort is also improving mechanization with AI and IoT technologies.

The government will considerably drive the agricultural machinery market in Asia Pacific through various incentive schemes targeted at improving food security and productivity. India's PM-KISAN initiative has spent about ₹2.24 trillion (roughly $27 billion) on farm mechanization, while the SMAM provides significant subsidies, resulting in a 15% rise in machinery sales in 2022-23. In China, a subsidy of 20.3 billion yuan (approximately USD 3.1 Billion) aims for a 78% mechanization rate by 2025, resulting in a 7.2% increase in sales. Japan's "Smart Agriculture Acceleration Project" and Australia's USD 1.5 Billion investment in agricultural technology support this trend.

Competitive Landscape

The agricultural machinery market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the agricultural machinery market include:

• Deere & Company
• AGCO Corporation
• Kubota Corporation
• CNH Industrial NV
• Claas Group
• Mahindra and Mahindra Limited
• SDF SpA
• Escorts Limited
• Yanmar Co., Ltd.
• AGCO Corporation
• Kverneland Group
• Same Deutz-Fahr GmbH
• Vaderstad-Verken AB
• Massey Ferguson

Latest Developments

• In February 2024, John Deere and GUSS Automation announced the Electric GUSS, a fully electric autonomous pesticide orchard sprayer. This unique machine enables growers to remotely operate many sprayers and has a sport spraying weed identification technology, which lowers herbicide consumption and improves sustainability.
• In December 2024, Mahindra debuted its first CNG tractor at the Agrovision Summit in India. This environmentally friendly tractor provides power and performance comparable to a diesel tractor but with significantly lower emissions and noise.

Agricultural Machinery Market, By Category

• Machinery Type:
• Tractors
• Harvesting Machinery
• Soil Preparation & Cultivation
• Irrigation Machinery
• Machinery for Haying & Forage
• Automation Level:
• Semi-Autonomous
• Fully Autonomous
• Automatic
• End-User:
• Original Equipment Manufacturers (OEMs)
• Aftersales
• Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Agricultural Machinery Market, By Machinery Type

• Tractors
• Harvesting Machinery
• Soil Preparation & Cultivation
• Irrigation Machinery
• Machinery for Haying & Forage

5. Agricultural Machinery Market, By Automation Level

• Semi-Autonomous
• Fully Autonomous
• Automatic

6. Agricultural Machinery Market, By End User

• Original Equipment Manufacturers (OEMs)
• Aftersales

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Deere & Company
• AGCO Corporation
• Kubota Corporation
• CNH Industrial NV
• Claas Group
• Mahindra and Mahindra Limited
• SDF SpA
• Escorts Limited
• Yanmar Co., Ltd.
• AGCO Corporation

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References