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The Agriculture Equipment Market is projected to reach $199.7 billion by 2030, at a CAGR of 5.2% from 2023 to 2030. The growth of this market is driven by the shortage of agricultural laborers, the increasing need for mechanization of agricultural operations, the increasing government initiatives aimed at supporting farmers, and improved credit availability for agriculture equipment manufacturers. However, the high costs of advanced agriculture equipment and the rising fragmentation of land are expected to restrain the growth of Agriculture Equipment Market.
Here are the top 10 companies operating in the Agriculture Equipment Market
Incorporated in 1958 and headquartered in Illinois, U.S., Deere & Company manufactures and distributes farm machinery and industrial equipment. The company offers products through its John Deer brand and other more than 25 subsidiary brands. The company operates through four business segments: Production and Precision Agriculture Operations, Small Agriculture and Turf Operations, Construction and Forestry Operations, and Financial Services Operations. The company offers farming equipment products, technology, tools, tractors, and utility vehicles through its production and precision agriculture operations and small agriculture and turf operations segment.
In addition, the company provides financing options for both new and used equipment, including sales, leases, and wholesale financing. It also offers extended equipment warranties. The company provides a full line of innovative solutions for various production systems throughout the lifecycle of their machines through a portfolio of brands, including Wirtgen, Hagie, PLA, Mazzotti, Monosem, A&I Products, Blue River Technology, Harvest Profit, Bear Flag Robotics, and Kreisel Electric.
With its subsidiaries and strong distribution network in more than 100 countries, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of December 2022, the company had a headcount of 82,239 employees globally.
CNH Industrial N.V. (U.K.)
Incorporated in 2012 and headquartered in London, U.K., CNH Industrial N.V. was formed by merging Fiat Industrial S.p.A. (Italy) and CNH Global N.V. (Netherlands). CNH Industrial is an equipment and services company.
The company designs, produces, and markets agricultural and construction equipment. It is also engaged in designing, producing, marketing, selling and financing trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense, and other purposes. The company also manufactures engines, transmissions, and axles for vehicles and engines for marine and power generation applications. The company offers products through its brands: Case IH, New Holland Agriculture, New Holland Construction, and CASE Construction Equipment. The company provides agricultural equipment products under the Case IH and New Holland Agriculture brands. Its Case IH and New Holland Agriculture brands received awards at SIMA 2022, held in Paris in November 2022.
With its subsidiaries and robust distribution network, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of December 2021, the company had a headcount of 71,895 employees globally, of which around 31,103 were engaged in the agriculture business.
Founded in 1890 and headquartered in Osaka, Japan, Kubota is a machine manufacturing company that produces and distributes various machinery and other industrial and consumer products. The company operates through three business segments: Farm & Industrial Machinery (Machinery), Water & Environment (Water), and Others. The company offers products & solutions for agriculture, lifestyle, water, construction, engines, weighing & measuring control systems, and materials. The company provides tractors, combine harvesters & rice transplanters, and implements through its farm & industrial machinery business segment. The company also operates in water treatment technologies, mainly in Japan.
With its subsidiaries and strong distribution network in more than 120 countries, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of December 2021, the company had a headcount of 43,293 employees globally.
AGCO Corporation (U.S.)
Incorporated in 1991 and headquartered in Minnesota, U.S., AGCO designs, manufactures, and distributes agricultural solutions. The company provides smart solutions such as agricultural equipment and related replacement parts. The company’s product lineup includes tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
The company offers agricultural equipment through its diverse portfolio of brands, namely Challenger, Fendt, GSI, Massey Ferguson, Valtra, and Fuse. These brands cater to different market segments and regions, providing farmers with options suited to their needs and requirements.
In 2022, AGCO won the Sustainable Company of the Year award at the Sustainable Performance Forum (SPF) World 2022 in Chicago, Illinois, US. Furthermore, In December 2022, AGCO received ten AE50 Awards from the American Society of Agricultural and Biological Engineers (ASABE) for 2023.
With its subsidiaries and strong distribution network across 140 countries, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of November 2021, the company had a headcount of 23,700 employees globally.
Mahindra & Mahindra Limited. (India)
Founded in 1945 and headquartered in Maharashtra, India, Mahindra & Mahindra is engaged in manufacturing automotive vehicles and farm equipment. The company operates through nine business segments: Automotive, Farm Equipment, Technology Services, Financial Services, Renewable Services, Logistics, Real Estate, Hospitality, and Emerging Business & Equity Investment. The company offers agriculture equipment products like farm implements, tractors, and spare parts through its farm equipment business segment under the brands: Mahindra Tractors, Mahindra Farm Equipment, Swaraj Tractors, Swaraj Farm Equipment, Tractors and Farm Equipment International, MAGNA and MITRA.
The company offers its agriculture tractors in more than 40 countries worldwide. Further, Swaraj Tractors launched CODE, a revolutionary new multi-purpose farm mechanization solution to transform horticulture farming in India.
Besides automotive and agriculture, the company is also in aerospace, components, consulting services, defense, energy, industrial equipment, logistics, retail, steel, commercial vehicles and two-wheeler industries.
With its subsidiaries and strong distribution network in more than 100 countries, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of 2022, the company had a headcount of 260,000 employees worldwide.
Meticulous Research in its latest publication on Agriculture Equipment Market has predicted the growth of 5.2% during the forecast year 2023-2030
CLAAS KGaA mbH (Germany)
Founded in 1913 and headquartered in North Rhine-Westphalia, Germany, CLAAS is engaged in manufacturing agricultural equipment, industrial engineering, and production technology products. The company specializes in harvesting technologies and operates through seven business segments: Combines, Balers, Forage Harvester, Loaders, Forage harvesting machinery, Transplanter, and Technologies.
With its subsidiaries and strong distribution network in more than 19 countries, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of September 2022, the company had a headcount of 12,116 employees worldwide.
Founded in 1927 and headquartered in Treviglio, Italy, SDF is engaged in manufacturing and distributing farm machinery and equipment. The company develops tractors, agricultural machines and diesel engines. The company offers products through its wide range of brands: SAME, DEUTZ-FAHR, Lamborghini Trattori, H?