Global Agricultural & Forestry Machinery Market Insights Forecasts to 2033

• The Global Agricultural & Forestry Machinery Market Size was Valued at USD 340.36 Billion in 2023
• The Market Size is Growing at a CAGR of 5.40% from 2023 to 2033
• The Worldwide Agricultural & Forestry Machinery Market Size is Expected to Reach USD 576.12 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Agricultural & Forestry Machinery Market Size is Anticipated to Exceed USD 576.12 Billion by 2033, Growing at a CAGR of 5.40% from 2023 to 2033.

Market Overview

Equipment used in farming, including tractors, plows, planters, sprayers, seed drills, spreaders, mowers, harvesters, and irrigation systems, is called agricultural machinery. They can be utilized for various jobs, including tilling soil, planting crops, and harvesting, and they assist farmers in increasing efficiency and output. Conversely, forest machinery includes chippers, brush cutters, forwarders, chainsaws, and skidders. They are used in logging, wood processing, and tree planting, among other forestry tasks. The introduction of autonomous agriculture and forestry technology that can function without human intervention, increase production, decrease waste, and save labor costs is currently the attention of major global players. Speedy urbanization, rising global population, minimizing arable land, and increasing food security concerns are currently driving the sales of agricultural machinery to enhance crop yield and improve convenience. This, formed by the expanding demand for high-quality food grains, represents one of the dominant components strengthening the global market growth.

Report Coverage

This research report categorizes the market for the global agricultural & forestry machinery market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global agricultural & forestry machinery market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global agricultural & forestry machinery market.

Driving Factors

The increasing automation of agricultural operations drives the global market for agricultural and forestry machinery through farm machinery. By assuring opportunity in farming practices, industrialization of agriculture practices raises production and profitability. This, therefore, facilitates farmers to make the most use possible of costly inputs including, fertilizer, irrigation, and seeds. Additionally, farm industrialization assisted in the preservation of agricultural products, which increased efficiency by minimizing post-harvest losses. The agriculture and forestry machinery industry is expected to grow due to the integration of telematics and global positioning systems (GPS), which allow for real-time monitoring of equipment performance and maintenance requirements.    

Restraining Factors

Relatively high intial costs are still a big problem, which has forced harvesters to incorporate intelligent machinery. When harvests cannot afford the upfront installation expenditures, they continue to place a high value on leased machinery. However, the major problem with the challenges of preserving overseas cost competitiveness still impacts the forestry machinery suppliers. As a result, it is anticipated that these problems will restrict the growth of the worldwide market for forestry and agriculture machinery.

Market Segmentation

The global agricultural & forestry machinery market share is segmented into agriculture machines and forestry machines.

• The tractors segment dominates the market with the largest market share through the forecast period.

Based on the agriculture machines, the global agricultural & forestry machinery market is segmented into combine & forage harvesters, field sprayers, tractors, soil cultivating equipment, milking & poultry machines, and haymaking machines. Among these, the tractors segment dominates the market with the largest market share through the forecast period. The segment growth is ascribed to their comprehensive and most common use for agriculture. There are essentially different types of tractors used in farming, including small tractors, wheeled tractors, orchard tractors, wheeled tractors, and track tractors with wheeled tractors being the most popular and utilized for a diversity of work. These tractors can be used in any agricultural practice, with their important principle being to tow agricultural machinery like harvesters sprayers, and cultivators. Due to this, the acquisition of tractors is primarily greater as compared to other machines.

• The skidders segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the forestry machines, the global agricultural & forestry machinery market is segmented into forwarders, chainsaws, swing machines, skidders, bunchers, loaders, and others. Among these, the skidders segment is anticipated to grow at the fastest CAGR growth through the forecast period. The skidder is profitable on every track it moves on and has complete control over everything. The sawed-down trees' trunks are picked up by the skidder, who then transports them to a collection area and stacks them. The forestry equipment moves easily forward, backward, and sideways, and the operator is positioned in an appealing working area.

Regional Segment Analysis of the Global Agricultural & Forestry Machinery Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global agricultural & forestry machinery market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global agricultural & forestry machinery market over the predicted timeframe. The growth in the region is ascribed to the rising recognition among farmers of the use of farming machines and mechanized agriculture operations. As one of the considerable agricultural regions in the world, the region's use of cutting-edge and advanced agricultural machines has risen. The expansion in population and per capita income, particularly in India, has boosted the implementation of innovative agricultural approaches over manpower. In addition, government backing and investment in the region generated market expansion. India holds the second rank in the worldwide agriculture sector, after China, which is predicted to hold the greatest market share.  

North America is expected to grow at the fastest CAGR growth in the global agricultural & forestry machinery market during the forecast period. Due to the presence of extremely skilled farmers in these regions. The market expansion was somewhat impacted by farmers' awareness of new farming techniques and mechanical equipment. North America finally had an increase in agricultural production. The usage of hybrid forestry equipment also made it more beneficial for farming.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global agricultural & forestry machinery market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• AGCO Corporation
• Escorts
• Valmont
• Concern Tractor Plants
• Caterpillar Inc.
• Claas KGaA mbH
• CNH Industrial N.V.
• Deere & Company
• Komatsu Ltd.
• Kubota Corporation
• Mahindra & Mahindra Limited
• SDF Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2023, Volvo Construction Equipment to set up a new Compact Business Unit. As part of its ambition to lead the transformation journey through electrification and sustainable power, Volvo CE has set up a dedicated business unit for its range of compact equipment machines and solutions, to drive growth and profitability in this important and growing product segment.

• In May 2023, The MH3050 was a new material handled by Caterpillar. Outstanding dependability, performance, and cab comfort are features of the 3050. Moreover, its unique electrohydraulic technology maximizes power and efficiency, enabling it to process more material in less time and boosting profit margins. Cat's range of material handlers and industrial applications are improved with the MH3050.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global agricultural & forestry machinery market based on the below-mentioned segments: 

Global Agricultural & Forestry Machinery Market, By Agriculture Machines

• Combine & Forage Harvesters
• Field Sprayers
• Tractors
• Soil Cultivating Equipment
• Milking & Poultry Machines
• Haymaking Machines

Global Agricultural & Forestry Machinery Market, By Forestry Machines

• Forwarders
• Chainsaws
• Swing Machines
• Skidders
• Bunchers
• Loaders
• Others

Global Agricultural & Forestry Machinery Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa