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2024 Global Report on Agriculture and Farm Equipment/Machinery – Market Size, Trends, and Forecast 2024-2033.
The Business Research Company’s report highlights that the agriculture and farm equipment market grew from $174.12 billion in 2023 to $184.69 billion in 2024, with a 6.1% annual growth rate.
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In 2028, the market is expected to reach $233.95 billion, driven by global food demand and increasing automation in agriculture.
Market Drivers
Population growth is increasing food demand, which is boosting the need for more efficient farm machinery.
Key Players
Leading companies include Deere & Company, AGCO Corporation, Kubota, and CNH Industrial among others.
Emerging Trends
Businesses are focusing on innovative agricultural technologies to increase revenues.
Market Segmentation
- By Product Type: Tractors, Rotavators, Power Tillers, etc.
- By Ownership: Individual, Rental
- By Application: Planting, Harvesting, etc.
Geographical Insights
North America is currently the leading region in this market, with Asia-Pacific being significant as well.
Market Definition
Agriculture and farm equipment includes various mechanized tools that enhance farming efficiency and productivity.
About the Report
The 2024 report by The Business Research Company includes market size, analysis by region, and growth insights.
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About The Business Research Company
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