Europe Agricultural Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product (Tractors, Combine Harvesters, Forage Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Others), By Country (United Kingdom, Germany, Italy, France, Spain, Netherlands, Rest of Europe), and Europe Agricultural Equipment Market Insights Forecasts to 2033

Europe Agricultural Equipment Market Insights Forecasts to 2033

• The Europe Agricultural Equipment Market Size was valued at USD 37.78 Billion in 2023.
• The Market Size is Growing at a CAGR of 4.09% from 2023 to 2033.
• The Europe Agricultural Equipment Market Size is Expected to Reach USD 56.39 Billion by 2033.

The Europe Agricultural Equipment Market Size is expected to reach USD 56.39 Billion by 2033, at a CAGR of 4.09% during the forecast period 2023 to 2033.

Market Overview

Agricultural equipment is any machinery, part of an instrument, or accessory to an equipment that is primarily meant to be used for agricultural purposes. Any equipment used in the production of crops, livestock, horticulture, or floriculture can be referred to as "agricultural equipment". The increasing demand for modern, effective farming equipment is the main factor propelling the expansion of the European agricultural machinery market. Farmers are prioritizing higher yields and more sustainable methods, which makes new agricultural gear essential. This market includes a wide range of equipment, such as irrigation systems, planters, harvesters, tractors, and ploughs. Because of the adoption of smart farming practices and continuous technology improvements, each segment is experiencing considerable growth. It’s critical to recognize the difficulty presented by mechanization's growing costs. Despite this obstacle, the need for these cutting-edge solutions is still being driven by the numerous advantages provided by contemporary agricultural equipment, including lower labour costs, increased productivity, and improved crop quality. Additionally, the European market for agricultural equipment is impacted by inflation. Agricultural machinery is becoming more and more popular as farm labour expenses grow. It is expected that this tendency would continue, propelling additional market expansion. An important catalyst for market expansion is the introduction of government subsidies and incentives to encourage farmers to adopt modern equipment.

Report Coverage

This research report categorizes the market for Europe agricultural equipment market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe agricultural equipment 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-segments of the Europe agricultural equipment market.

Driving Factors

The growing demand for effective and advanced agricultural gear is being driven by the agriculture sector. Modern equipment is being adopted by farmers more and more in an effort to maximize resource management and output. In Western and Central Europe, where nations like Germany and the Netherlands are leading the way in implementing cutting-edge farming technologies, this change is most apparent. Farm automation is a major factor driving the agricultural equipment market in Europe. Farmers are investing more money in automated technology due to rising labour costs and shortages. Particularly in the livestock sector, there is a noticeable need for specialized machinery such robotic milkers and precise planting systems. These technology developments improve animal welfare, lessen environmental effects, and expedite farming processes.

Restraining Factors

Market Segment

• In 2023, the tractors segment accounted for the largest revenue share over the forecast period.

Based on the product, the Europe agricultural equipment market is segmented into tractors, combine harvesters, forage harvesters, planting equipment, irrigation & crop processing equipment, spraying equipment. Among these, the tractors segment has the largest revenue share over the forecast period. Tractors are now essential for raising productivity in the agriculture sector due to a labour scarcity and population growth to meet the world's food needs. Additionally, the increase has been hastened by the promotion of agricultural mechanization and the growing use of precision farming in Europe.

• In 2023, the land development & seed bed preparation segment accounted for the largest revenue share over the forecast period.

On the basis of application, the Europe agricultural equipment market is segmented into land development & seed bed preparation, sowing & planting, weed cultivation, plant protection, and others. Among these, the land development & seed bed preparation segment has the largest revenue share over the forecast period. A number of factors contribute to agricultural operations' efficiency, but one of the main ones is the equipment used for preparation of seed beds and land development. Modern equipment, such as tractors and levelers, enables farmers to more effectively and efficiently prepare the soil for planting. In addition to saving time, this ensures ideal growing conditions for plants, which increases agricultural yield.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe agricultural equipment 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

• CNH Industrial N.V.
• CLAAS KGaA mbH
• J C Bamford Excavators Limited
• Bucher Industries AG
• APV GmbH
• Exel Industries SA
• Argo Tractors S.p.A.
• Others

Key Target Audience

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

Recent Development

• In January 2023, the renowned agricultural gear manufacturer New Holland unveiled a ground-breaking prototype tractor called the T7 Methane Power. With its liquefied gas option, this cutting-edge tractor offers longer fill times and increased economy. Four times as much fuel is available in the T7 Methane Power tractor as in the T6 compressed natural gas (CNG)-powered predecessor. With this technological innovation, New Holland is changing the agriculture industry and giving farmers a more effective and sustainable way to meet their needs.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Europe agricultural equipment market based on the below-mentioned segments:

Europe Agricultural Equipment Market, By Product

•  Tractors
• Combine Harvesters
• Forage Harvesters
• Planting Equipment
• Irrigation & Crop Processing Equipment
• Spraying Equipment

Europe Agricultural Equipment Market, By Application

• Land Development & Seed Bed Preparation
• Sowing & Planting
• Weed Cultivation
• Plant Protection
• Others

Europe Agricultural Equipment Market, By Country

• United Kingdom
• Germany
• Italy
• France
• Spain
• Netherlands
• Rest of Europe