Global Farm Equipment Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Combines, Plows, Sprayers, Planters, Others), By Function (Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing), And By Geography - Forecasts From 2022 To 2027

The global farm equipment market is anticipated to expand at a CAGR of 7.34% over the course of the forecast period, from US$117,147.192 million in 2020 to a total market value of US$192,280.893 million by 2027.

Farm equipment includes tools, machinery, and maintenance supplies created for use on farms in connection with the production or processing of food resources for market use. It includes tools for harvesting, haying and foraging, and irrigation. These tools aid in lowering labor requirements, enhancing crop quality, and cutting down on the amount of time required for agricultural activity. Sprayers and self-propelled spreaders cover a large area per day while also operating more efficiently and quickly. These devices make sure that nutrients and safeguards are distributed uniformly, which helps to lower total expenses and increase crop yields. Machine-operated sprayers come in a wide variety of low-pressure, high-pressure, fogger, and air-carrying variations. There are manual, tractor-mounted, and aerial versions of these sprayers. The towed or vehicle-mounted sprayers also provide the modern farmer with many advantages, offering increased operating freedom.

Increasing automation and government assistance in farming to drive the global farm equipment market

Due to the expanding human population and the ensuing need for increased production to meet the demand for food, the market is gaining significant traction on a global scale. The demand for premium packaged foods as well as the accelerating pace of industrialization and rising purchasing power of consumers is enhancing the market outlook. The demand for planting and fertilizing technology, as opposed to hand planting and fertilizing procedures, is primarily driven by the rising demand for agricultural products. The market for planting and fertilizer equipment is also anticipated to expand significantly. Additionally, government organizations are putting efforts into action in a number of nations around the world to assist the quick uptake of agricultural mechanization. It is anticipated that this element will have a favorable impact on the market for agricultural tractors and harvesters.

Key Developments:

• Jan 2022: A completely automated tractor that is prepared for industrial manufacturing was unveiled by John Deere. The device combines the 8R tractor from Deere, a chisel plough with TruSet functionality, a GPS guidance system, and new, cutting-edge technologies. Six stereo camera pairs on the autonomous tractor allow for 360-degree obstacle recognition and distance estimation. A deep neural network processes the images the cameras take in around 100 milliseconds, classifying each pixel and deciding whether an impediment needs to be avoided before the machine can continue moving. The autonomous tractor also keeps track of its location in relation to a geofence to make sure it is functioning where it should and with an accuracy of less than an inch. Farmers simply need to move the equipment to a field and set it up for autonomous operation in order to operate the tractor. They can start the equipment by swiping left to right on John Deere Operations Center Mobile. The farmer can monitor the machine's status from their mobile device while they are away from the field while it is operating and concentrating on other duties.
• Nov 2022: In Pithampur, Madhya Pradesh, Mahindra & Mahindra Farm Equipment Sector (FES), a division of the Mahindra Group, officially opened its first farm machinery plant (other than tractors). The new facility's thoughtful design enables it to produce a number of novel items created at Mahindra's global technology centres of excellence in Finland, Japan, and Turkey. The new facility, which spans 23 acres, can produce 3,300 rice transplanters and 1,200 combine harvesters annually. It is anticipated that the Pithampur facility and its associated supplier park will eventually employ 1,100 people. The company can produce long-lasting, top-notch, inexpensive, and accessible "Made in India" agricultural machinery that is sold under the Mahindra and Swaraj brands because of Mahindra's new farm machinery plant's ideal location in the industrial city of Pithampur. Additionally, the factory will produce goods for export to markets around the world in Asia, Africa, Europe, and the Americas.

Product Offerings:

• Mahindra HarvestMaster H12 4WD: A multi-crop tractor-mounted combine harvester, often known as a tractor harvester or TMCH by Mahindra, the Mahindra HarvestMaster H12 4WD is a suitable complement for the Mahindra Arjun Novo series of tractors. In both semi-wet and wet soil conditions, this tractor-mounted combine harvester or tractor harvester performs exceptionally well. It is possible to harvest paddy, wheat, soybeans, and a variety of pulses using this tractor harvester. Faster coverage, less grain loss, less fuel use, and the ability to harvest early in the morning and late in the evening are all benefits.
• ACCURA ST fertilizer spreader: The self-propelled fertilizer spreader ACCURA ST has a perfect dispersion of seeds and fertilizer. This self-propelled fertilizer spreader, which has a reservoir of 5 or 7 m3, operates precisely in an application range of up to 42 m, with regulation that stands out for its user-friendliness. The self-propelled fertilizer spreader Accura ST has a distribution range of up to 42 meters and is powered by an electronic motor with 220 or 260 horsepower depending on the model (3 or 5 m3). Additionally, it has the exclusive Coaxial Distribution Adjustment System (CDA) to facilitate application rate regulation and to carry out precise fertilizer and seed spreading, along with the Belt Free system, which ensures continuous feeding of the spreading discs.

Global Farm Equipment Market Scope:

Segmentation

• By Type
  • Combines
  • Plows
  • Sprayers
  • Planters
  • Others
• By Function
  • Plowing & Cultivating
  • Sowing & Planting
  • Plant Protection & Fertilizing
  • Harvesting & Threshing
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Israel
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Thailand
    • Others