Agriculture Equipment Market Summary

The global agriculture equipment market size was estimated at USD 169.55 billion in 2024 and is projected to reach USD 295.28 billion by 2033, growing at a CAGR of 6.7% from 2025 to 2033. Increasing mechanization in the agriculture sector, coupled with a surge in farmers’ income, is expected to be a primary factor driving the market growth. As farming practices continue to modernize worldwide, the adoption of technologically advanced machinery is helping farmers enhance productivity, reduce labor dependency, and improve overall crop yield. This transition from manual labor to automated solutions remains a crucial element supporting market expansion.

The rise of sustainable agriculture, which is pushing manufacturers to develop eco-friendly and energy-efficient equipment, is accelerating market growth. In response to tightening emissions regulations and climate goals set by international bodies and national governments, there is an increasing push for electric tractors, biofuel-compatible engines, and hybrid farm equipment. These machines not only reduce greenhouse gas emissions but also offer lower operating costs in the long run. European countries are actively promoting low-carbon farming technologies, which has created demand for new products of agricultural machinery designed for minimal environmental impact. The integration of sustainability with profitability is creating a fresh wave of innovation within the industry, encouraging manufacturers to invest in research and development to meet evolving environmental standards.

Key Market Trends & Insights

• Asia Pacific held a 37.7% revenue share of the global agriculture equipment market. The region’s dominance is supported by its expanding agricultural activities, strong government subsidies for farm mechanization, and a growing need to boost food production for its large population.
• In China, the trend toward farm consolidation and the emergence of large agribusinesses is accelerating the demand for the agriculture equipment market. Larger-scale operations increasingly rely on high-powered, technology-driven machines to improve efficiency, enabling farmers to work on broader tracts of land with reduced labor.
• By product, the tractors segment held the largest revenue share of 34.9% in 2024. Tractors remain essential for a wide variety of farming operations, from soil preparation to crop management, making them the most widely adopted machinery globally.
• By application, the land development and seed bed preparation segment held the largest revenue share in 2024. The need for timely and accurate field preparation to ensure optimal seed germination and crop performance continues to fuel demand for machinery supporting primary and secondary tillage.

Order a free sample PDF of the Agriculture Equipment Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

• 2024 Market Size: USD 169.55 Billion
• 2033 Projected Market Size: USD 295.28 Billion
• CAGR (2025-2033): 6.7%
• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights

Some of the key companies operating in the market include AGCO Corporation, CNH Industrial N.V., among others, that are leading participants in the market.

• AGCO Corporation is engaged in the designing, manufacturing, and distribution of agricultural tractors and replacement parts worldwide. In 1990, the company offered products under the Gleaner and AGCO Allis brands in North America. Currently, it offers its agricultural tractors under the following brand names: Challenger, Fendt, Massey Ferguson, and Valtra. AGCO Corporation offers tractors with higher horsepower for use in large farms for cultivating row crops; utility tractors primarily for livestock, dairy, vineyards, and orchards; and compact tractors for small farms, landscaping, and specialty agricultural industries, as well as for residential use. The company focuses on product innovation and invests in the research & development of High Horsepower (HHP) tractors and advanced harvesting technology platforms.
• CNH Industrial N.V. is engaged in the designing, production, marketing, sales, and financing of agricultural & construction equipment and commercial vehicles. Additionally, the company offers transmissions, engines, and axles for these vehicles. The company’s subsidiaries include CNH Industrial America LLC, CNH Industrial Asian Holding Limited N.V., CNH Industrial Belgium, CNH Industrial Capital LLC, CNH Industrial Finance S.p.A., CNH Industrial Russia LLC, CNH UK Limited, and CNH Industrial Services S.r.l.

MaterMacc S.p.A and ISEKI & Co., Ltd. are some of the emerging participants in the agriculture equipment industry.

• MaterMacc S.p.A. is a specialist in precision agricultural machinery focused on enhancing modern farming efficiency. MaterMacc’s product lineup includes pneumatic precision seed drills for cereals, mechanical and pneumatic sowers for vegetables, direct drills, in-row weeders, fertilizer spreaders, and electronic irrigation and seeding control units, underlining its focus on delivering integrated solutions for crop establishment and management.
• Iseki & Co., Ltd. is a manufacturer of agricultural machinery. The company expanded its offerings into tractors, rice transplanters, combine harvesters, riding and zero‑turn mowers, tillers, diesel engines, and related implements, all reflecting its evolution into a full‑line agricultural equipment provider. Iseki is Japan’s third-largest agricultural machinery maker, with global sales through brands like AGCO, Massey Ferguson, and Bolens.

Key Players

• AGCO Corporation
• FlieglAgro-Center GmbH
• APV GmbH
• Bellota Agrisolutions
• CLAAS KGaAmbH
• CNH Industrial N.V.
• Deere & Company
• Escorts Limited
• HORSCH Maschinen GmbH
• ISEKI & Co., Ltd.
• J C Bamford Excavators Ltd
• Quivogne CEE GmbH (Kiwon RUS LLC)
• Rostselmash
• KRUKOWIAK
• KUBOTA Corporation
• KUHN SAS
• LEMKEN GmbH & Co. KG
• Mahindra & Mahindra Ltd.
• MascarSpA
• MaschioGaspardo S.p.A
• MaterMacc S.p.A
• Morris Equipment Ltd
• SDF S.p.A.
• Tractors and Farm Equipment Limited (TAFE)
• Väderstad AB
• Valmont Industries, Inc.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

Overall, the global agriculture equipment market is poised for strong future growth as farmers increasingly adopt modern technologies to boost productivity and ensure sustainability in food production. Mechanization, precision agriculture, and the integration of digital tools such as GPS and data analytics are transforming agricultural operations, making them more efficient and resource-friendly. Government initiatives promoting farm modernization and financial incentives for equipment purchase further support demand. As climate concerns strengthen the push for low-emission machinery, manufacturers are rapidly innovating to deliver greener solutions. These combined factors are expected to sustain market momentum, ensuring long-term expansion and technological evolution across the global agriculture equipment industry.