Dublin, May 10, 2023 (GLOBE NEWSWIRE) -- The "Global Agricultural Machinery Market Factbook (2023 Edition) - Analysis By Value and Volume, By Product Type, Applications, Energy Capacity: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
Global Agriculture Machinery is expected to expand at a CAGR of 7.7% during 2023-2028
The Global Agricultural Machinery Market is expected to generate USD 405.14 billion by the end of 2028, up from USD 244.67 billion in 2021.
The companies analysed in the report include Bucher Industries, AGCO Corporation, Deere & Company, Excel Industries, ClAAS KGaA mbh, CNH Industrial N.V., Mahindra and Mahindra.
The research also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.
The major factors driving the growth of the Global Agriculture Machinery market are the growing demand for smart and efficient machinery and equipment, due to the rising global population and need for improved productivity and operational efficiency and the increasing focus on sustainable farming practices throughout the world.
Presently, agriculture farming has been significantly transformed using agriculture machinery. Modern agriculture machinery has revolutionized farming practices, leading to improved efficiency, productivity, and sustainability. As a result, people are agriculture practices are becoming more sustainable and effective.
One of the main drivers of the growth of the agricultural machinery market is the increasing demand for food. With the world population projected to reach 9.7 billion by 2050, the demand for food is expected to increase by at least 50%. In order to meet this demand, farmers are turning to advanced machinery to increase their productivity and efficiency. This has led to a significant increase in the demand for agricultural machinery.
The global agricultural machinery market is experiencing significant growth, driven by increasing demand for food. As the world population continues to grow, there is a greater need for agricultural machinery to produce more food in a shorter period of time. Also, governments around the world are implementing policies and programs to support farmers and increase food production.
This study also provides a competitive landscape of the industry and profiles leading players in the Global Agriculture Machinery Market including Bucher Industries, AGCO Corporation, Deere & Company, Excel Industries, CLAAS KGaA mbh, Kubota Corporation, and others.
The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments.
Overall, the report provides a detailed overview of Global Agriculture Machinery, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $279.72 Billion |
| Forecasted Market Value (USD) by 2028 | $405.14 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Scope of the Report
- The report analyses the Agricultural Machinery Market by Value (USD Billion).
- The report analyses the Agricultural Machinery Market by Volume (Million Units).
- The report presents the analysis of the Agricultural Machinery market for the historical period of 2018-2021, the estimated year 2022, and the forecast period of 2023-2028.
- The report analyses the Agricultural Machinery Market by Product (Tractors, Thresher, Rotavator, Harvester, Other Products).
- The report analyses the Agricultural Machinery Market by Applications (Development and Seed Bed Preparation, Harvesting and Threshing, Plant Protection, Other Applications).
- The report analyses the Agricultural Machinery Market by Energy Capacity (Below 100 HP, More 101-500 HP, More Than 500 HP).
- The Global Agricultural Machinery Market has been analyzed by countries (United States, Canada, Brazil, Germany, France, United Kingdom, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, and Indonesia).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by product, by application, and by energy capacity.
- Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Competitive Positioning
- Bucher Industries AG
- AGCO Corporation
- Deere & Company
- EXEL Industries
- CLAAS KGaA mbH
- ISEKI & Co. Ltd
- CNH Industrial N.V.
- Krone UK Group
- Kubota Corporation
- Mahindra & Mahindra Ltd.
- Mitsubishi Mahindra Agricultural Machinery
- LEMKEN GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/wnwsls
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