農機具市場 – 2032年までの世界予測

Farm Equipment Market - Global Forecast to 2032

農機具市場 - パワー (<30、31-70、71-130、131-250、>250HP)、タイプ (トラクター、ベーラー、噴霧器、収穫機)、機能、トラクターの駆動タイプ、林業機械、電動トラクター、タイプと推進力、レンタル、および地域別 - 2032年までの世界予測
Farm Equipment Market by Power (<30, 31-70, 71-130, 131-250, >250HP), Type (Tractors, Balers, Sprayers, Harvesters), Function, Tractor Drive Type, Forestry Machinery, Electric Tractor, Type & Propulsion, Rental, & Region - Global Forecast to 2032

商品番号 : SMB-11047

出版社MarketsandMarkets
出版年月2025年3月
ページ数456
図表数511
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The farm equipment market is projected to grow from USD 39.95 Billion in 2025 to USD 52.79 Billion by 2032, registering a CAGR of 4.1%.

農機具市場は、2025年の399.5億米ドルから2032年までに527.9億米ドルに成長し、年平均成長率4.1%を記録すると予測されています。

The farm equipment market has declined from 2022 to 2024 and is expected to continue its trend till ~2026–2027. According to a recent report published by the United States Department of Agriculture (USDA), the farm equipment market is primarily driven by a projected 25% drop in net farm income for 2024, falling from USD 155 billion to USD 116 billion, which has made farmers hesitant to invest in new machinery. Additionally, high operational costs and declining commodity prices have pressured farmers’ budgets, leading to a 15-20% decrease in monthly US tractor sales. The used equipment market also suffers as many farmers postpone purchases due to these financial constraints. Similar trends and challenges have been followed in Europe and Asia due to declining commodity prices, high operational costs, and reduced farm incomes. For instance, the European tractor market saw an 11.4% decline in sales in early 2024, while India’s tractor sales also faced a downturn of 8.7%. However, this trend might continue for 2-3 years, and in the future, the global agricultural equipment market is projected to grow significantly.

農機具市場は2022年から2024年にかけて減少しており、2026年から2027年頃までこの傾向が続くと予想されています。米国農務省(USDA)が最近発表したレポートによると、農機具市場の主な推進力は、2024年の純農業所得が1,550億ドルから1,160億ドルに25%減少すると予測されており、これにより農家は新しい機械への投資をためらっています。さらに、運用コストの高騰と商品価格の下落により農家の予算が圧迫され、米国のトラクターの月間販売が15~20%減少しています。多くの農家がこれらの財政的制約のために購入を延期しているため、中古機器市場も打撃を受けています。ヨーロッパとアジアでも、商品価格の下落、運用コストの高騰、農家の所得減少により、同様の傾向と課題が続いています。例えば、ヨーロッパのトラクター市場では2024年初頭に売上が11.4%減少し、インドのトラクター売上も8.7%の落ち込みに直面しました。しかし、この傾向は2~3年続く可能性があり、将来的には世界の農業機器市場は大幅に成長すると予測されています。

農機具市場 - 2032年までの世界予測
agriculture-equipment-market

“The sowing and planting segment is estimated to be the fastest growing by function”

Asia Oceania region is the fastest growing market for sowing and planting equipment in which India and China has the largest demand for this equipment due to large population in this region. This segment is expected to grow by 50% during the forecast period. In Asia Oceania region, the sowing and planting equipment are usually offered for tractor-mounted seed drills, rice transplanters, power tiller operated till-plant machines, animal-drawn planters, raised bed planters, inclined plate planters, and specialized planters for crops like sugarcane. Also, the due to increase in demand for food globally. The OEM in this region offers semi-automatic and automatic planting machines with all the technological advancements in the agricultural sector.  Some popular models offered by the key players in Asia Oceania are Deere & Company (GreenSystem Super Seederm, GreenSystem Seed Cum Fertilizer Drill, GreenSystem Multi-Crop Vacuum Planter), and KUHN (MAXIMA 3, PLANTER 3, COMBILINER INTEGRA), and New Holland (PP400 Pneumatic Planter) etc.

North America is the second largest market for the sowing & planting due to the vast amount of farmland available with farmers, which necessitates large-scale mechanization in agriculture, coupled with a growing trend towards precision farming technologies. Some OEMs offer advanced technology for precision technology. For instance, WINTERSTEIGER (US) offers from North America offer GPS Geo Link and MiniGIS 2 for accurate seed placement and flexible operation and Fendt Xaver Sowing Robots: Introduce robotic precision in sowing, offering smart farming solutions with autonomous capabilities. Hence the increase in demand for precision and mechanization in sowing & planting is driving the market in North America.

“The skidders segment is estimated to be the fastest growing forest machinery market.”

Skidder demand is high in the forest equipment market because they play an essential role in the logging process, efficiently transporting felled trees from the cutting site to a landing area, making them a necessary piece of machinery for any large-scale timber harvesting operation; this high demand is driven by the ongoing need for lumber and the complex terrain of most forests, requiring robust and adaptable skidders to navigate and maximize productivity.

North America holds the highest market share for skidders, particularly in the US and Canada. This demand is driven by the extensive forestry operations in the US and some key models like 640L-II, 648L-II, 748L-II, 768L-II, 848L-II, and 948L-II from Deere & Company and Komatsu 855.1, Komatsu 895, Komatsu XT445L-5, and Komatsu X370E are the highest selling product.

The demand for skidders in Europe and Asia Oceania is low compared to North America. In Asia Oceania, countries like Indonesia, Malaysia, and Australia have active logging operations that use grapple skidders or adapted machinery rather than traditional wheeled skidders. In contrast, in Europe, the demand for skidders is low, as most logging operations are done with the help of forwarders and harvesters due to the region’s well-structured and sustainable forestry practices. Hence, these factors drive the skidders market faster during the forecast period.

“Battery Electric Tractors, by alternative fuel would lead the future of the tractor industry.”

Electric farm tractors are majorly used in a variety of tasks, including crop maintenance, livestock care, vineyards, cattle farming, dairy industry, and data-driven farming. They are also used in power tools and machinery in remote areas. Europe holds the major market for electric tractors as European union have imposed strict emission regulation and sustainability goals till 2030 for electrification. In particular “Farm to Fork” strategy was implemented in 2020 which was a part of green deal in Europe to reduce the greenhouse gas emission from agriculture by 50% till 2030. In Europe 51-100 kWh battery are used in small to medium sized farming, whereas >100 kWh battery is used in large size farming. The major players in Europe for electric tractors are Kubota Corporation, Solectrac, AGCO Corporation, CNH Industrial, and Monarch tractors. Companies like Kubota Corporation also offers lower HP tractor in Europe of 26 HP which are usually used in tasks like mowing and hauling.

North America is the second largest market for electric tractors, due to stringent emission set by the governing bodies. For instance, California’s ambitious climate objectives have significantly accelerated the US adoption of battery electric tractors (BETs). These tractors are mostly used in vineyard farming, cattle farming, and dairy industry in US. Also, the government is promoting the scrappage policy, facilitated through the “California CORE” voucher program, which offers substantial financial incentives for farmers to transition to electric tractors. This voucher’s range for electric tractors ranges from USD 16,147 for the e25G Gear model to USD 28,000 for the eUT+ Narrow model. In Asia Oceania, the demand for electric tractor is less which will increase in future.

“Europe is projected to be the second-largest regional market.”

The European tractor market declined in the sales of tractors by nearly 18% in FY 2024 compared to FY 2023. Rising interest rates influenced this lowering of tractor registration due to the European Central Bank’s monetary policy, which made it more difficult for farmers to secure loans for new machinery purchases. Major key countries in Europe noticed a lower sales record. For instance, UK tractor sales declined by ~13% in 2024, France saw a decline of ~16% in 2024, and Germany’s unit sales of tractors fell by 3.4% in 2024. According to VDMA report total tractor registrations in Germany observed a decline in sales by 19% year-over-year (YoY) in January 2025, due to economic uncertainty and lower commodity prices.

According to the CEMA and primary insights, the European market is estimated to decline till 2026 and is expected to rise after 2027. As European region is recession impact, it is expected to end in mid of 2025 to FY 2026 and the GDP growth rates is projected to grow by 0.8% to 1.3% in FY  2025. As the economic recovery, it is then expected that the interest rates might come down till end thereby increasing the farmers spending. Additionally, initiatives like the European Green Deal encourage farmers to adopt more efficient and environmentally friendly machinery, further boosting demand in the long term. In Europe, the prices of cereals, particularly wheat, have significantly declined, which has impacted the farmers due to increased imports from Ukraine following the Black Sea shipping route closure, leading to a surplus in the market and lower prices for their crops; other crops experiencing price drops include milk, eggs, and industrial crops like oilseeds and sugar beet exports. This drop in crops prices have affected the farmers spending on new equipment’s.

農機具市場 - 2032年までの世界予測 region
agriculture-equipment-market-region

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: OEMs – 100%
  • By Designation: C Levels – 50%, Directors– 30%, Others– 20%
  • By Region: North America– 30%, Europe – 20%, Asia Oceania– 40%, Rest of the World–10%

The farm equipment market is dominated by global players such as Deere & Company (US), AGCO Corporation (US), CNH Industrial (Netherlands), Kubota Corporation (Japan), CLAAS KGAA (Germany), Mahindra & Mahindra (India), ISEKI & Co., Ltd. (Japan), Escorts Kubota Limited (Idia), SDF Group (Germany), and Yanmar Holdings Co., Ltd (Japan). These companies adopted strategies such as product developments, deals, and others to gain traction in the market.

農機具市場 - 2032年までの世界予測 ecosystem
agriculture-equipment-market-ecosystem

Research Coverage:

The study segments the farm equipment market and forecasts the market size based on power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP), drive type (two-wheel drive and four-wheel drive), farm equipment market, rental market, by equipment type (tractors, combines, sprayers, balers, others), Forestry Machinery Market, By Implement Type (skidders, forwarders, bunchers, swing machines, harvesters, loaders, and other forestry machinery), by function (plowing & cultivation, sowing & planting, harvesting & threshing, and others), by equipment type (cereal combines, non-cereal, combines, balers, self-propelled sprayers, tractor-mounted sprayers, and tillers), rental market, by power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, >250 HP), electric tractor market, by propulsion (battery electric, hybrid electric, and hydrogen), and region (Asia Oceania, North America, Europe, and the Rest of the World [RoW]). It also covers the competitive landscape and company profiles of the major players in the electric commercial vehicle market ecosystem.

Key Benefits of the Report

The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

The report will help market leaders and new entrants with information on the closest approximations of the farm equipment market’s revenue numbers and subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Government support with farmer loan waivers/credit finance, OEM/sales incentives to support dealer services and rental operations, Contract farming, and Increase in farm mechanization), restraints (Growth of rental market, High equipment cost in emerging economies), opportunities (Growing adoption of precision agriculture, Increasing R&D and adoption of electric tractors), and challenges (Rapidly changing emission norms and mandates) influencing the growth of the farm equipment market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the farm equipment market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the farm equipment market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the farm equipment market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Deere & Company (US), AGCO Corporation (US), CNH Industrial (Netherlands), Kubota Corporation (Japan), and CLAAS KGAA (Germany), Mahindra & Mahindra (India), ISEKI & Co., Ltd. (Japan), Escorts Kubota Limited (Idia), SDF Group (Germany), and Yanmar Holdings Co., Ltd (Japan) and among others in the farm equipment market.

Table of Contents

1               INTRODUCTION              34

1.1           STUDY OBJECTIVES       34

1.2           MARKET DEFINITION   35

1.2.1        INCLUSIONS AND EXCLUSIONS 35

1.3           MARKET SCOPE                36

1.3.1        MARKET SEGMENTATION           36

1.3.2        YEARS CONSIDERED      37

1.3.3        CURRENCY CONSIDERED            37

1.4           SUMMARY OF CHANGES               38

1.5           STAKEHOLDERS               38

2               RESEARCH METHODOLOGY       39

2.1           RESEARCH DATA              39

2.1.1        SECONDARY DATA          40

2.1.1.1    List of key secondary sources to estimate farm equipment market                 41

2.1.1.2    Key data from secondary sources       42

2.1.2        PRIMARY DATA 42

2.1.2.1    Major objectives of primary research                 43

2.1.2.2    List of interviews with experts            43

2.2           MARKET ESTIMATION METHODOLOGY               44

2.2.1        BOTTOM-UP APPROACH              45

2.2.2        TOP-DOWN APPROACH                46

2.2.3        FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES   47

2.3           DATA TRIANGULATION                48

2.4           FACTOR ANALYSIS          49

2.5           RESEARCH ASSUMPTIONS           49

2.6           RESEARCH ASSUMPTIONS AND RISK ASSESSMENT                 50

2.7           RESEARCH LIMITATIONS             52

3               EXECUTIVE SUMMARY  53

3.1           REPORT SUMMARY         53

4               PREMIUM INSIGHTS       57

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FARM EQUIPMENT MARKET    57

4.2           FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE                 57

4.3           FARM TRACTOR MARKET, BY DRIVE TYPE           58

4.4           FARM TRACTOR MARKET, BY POWER OUTPUT 58

4.5           FARM IMPLEMENTS MARKET, BY FUNCTION     59

4.6           ELECTRIC TRACTOR MARKET, BY PROPULSION                 59

4.7           FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE     60

4.8           FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT                 60

4.9           FORESTRY EQUIPMENT MARKET, BY EQUIPMENT TYPE                 61

4.10         FARM EQUIPMENT MARKET, BY REGION              61

5               MARKET OVERVIEW       62

5.1           INTRODUCTION              62

5.2           MARKET DYNAMICS       63

5.2.1        DRIVERS               63

5.2.1.1    Government support through farm loan waivers/credit finance                 63

5.2.1.2    OEM/sales incentives to support dealer services and rental operations              64

5.2.1.3    Contract farming  64

5.2.1.4    Increase in farm mechanization         65

5.2.2        RESTRAINTS      67

5.2.2.1    Growth of rental market      67

5.2.2.2    High cost of equipment in emerging economies              68

5.2.3        OPPORTUNITIES              69

5.2.3.1    Growing adoption of precision farming            69

5.2.3.2    Increasing R&D and adoption of electric tractors           69

5.2.4        CHALLENGES    70

5.2.4.1    Rapidly changing emission norms and mandates            70

5.3           TRADE ANALYSIS             71

5.3.1        IMPORT SCENARIO (CODE 843280)           71

5.3.2        EXPORT SCENARIO (HS CODE 843280)    73

5.3.3        IMPORT SCENARIO (CODE 843290)           74

5.3.4        EXPORT SCENARIO (HS CODE 843290)    76

5.3.5        IMPORT SCENARIO (HS CODE 843210)    78

5.3.6        EXPORT SCENARIO (HS CODE 843210)    79

5.4           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            81

5.5           CASE STUDY ANALYSIS 82

5.5.1        SOLECTRAC’S SOLUTIONS FOR MUSHROOM FARMS                 82

5.5.2        ELECTRIC TRACTORS FOR SUSTAINABLE AGRICULTURAL PRACTICES BY AGRIMACS INC.                82

5.5.3        CALIFORNIA GOVERNMENT FOCUSES ON FARMS TO GO GREEN WITH ZERO EMISSIONS         83

5.5.4        MONARCH TRACTORS SAVE USD 2,600 PER YEAR FOR WENTE VINEYARDS        83

5.5.5        PACIFIC NORTHWEST ELECTRIC TRACTOR BARRIERS STUDY  84

5.5.6        CHALLENGES RELATED TO AUTOMATION AND ELECTRIFICATION OF TRACTORS ADDRESSED BY DR. JIANFENG ZHOU               85

5.6           MARKET ECOSYSTEM    86

5.7           INVESTMENT AND FUNDING SCENARIO               87

5.8           PATENT ANALYSIS          88

5.8.1        INTRODUCTION              88

5.9           SUPPLY CHAIN ANALYSIS             94

5.10         FARM EQUIPMENT MARKET ECOSYSTEM             95

5.11         REGULATORY LANDSCAPE         97

5.11.1      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             97

5.11.2      REGULATORY ANALYSIS FOR FARM EQUIPMENT MARKET               103

5.11.3      NON-ROAD MOBILE MACHINERY EMISSION (NRMM) REGULATIONS OUTLOOK, 2019–2030      103

5.11.3.1  North America      104

5.11.3.1.1                US           104

5.11.3.2  Europe   105

5.11.3.3  Asia Oceania         106

5.11.3.3.1                China      106

5.11.3.3.2                India       107

5.12         PRICING ANALYSIS          107

5.12.1      BY POWER OUTPUT & REGION 107

5.12.2      AVERAGE SELLING PRICE OF <30HP TRACTORS, BY REGION                108

5.12.3      AVERAGE SELLING PRICE OF 31–70 HP TRACTORS, BY REGION                108

5.12.4      AVERAGE SELLING PRICE OF 71–130 HP TRACTORS, BY REGION                109

5.12.5      AVERAGE SELLING PRICE OF 131–250 HP TRACTORS, BY REGION                110

5.12.6      AVERAGE SELLING PRICE OF >250 HP TRACTORS, BY REGION                110

5.12.7      AVERAGE SELLING PRICE OF TRACTOR, BY DRIVE TYPE                 111

5.13         TECHNOLOGY ANALYSIS             112

5.13.1      KEY TECHNOLOGIES     112

5.13.1.1  Farm equipment automation               112

5.13.1.2  Agriculture 5.0      113

5.13.1.3  Electrification of tractors     114

5.13.2      COMPLEMENTARY TECHNOLOGIES       115

5.13.2.1  Future of battery technologies            115

5.13.2.2  Trends in rental industry    116

5.13.3      CNG TRACTORS                116

5.13.4      ADJACENT TECHNOLOGIES       117

5.13.4.1  Precision farming 117

5.14         KEY CONFERENCES AND EVENTS, 2025–2026        118

5.14.1      FARM EQUIPMENT MARKET: KEY CONFERENCES AND EVENTS, 2025–2026           118

5.15         KEY STAKEHOLDERS AND BUYING CRITERIA     120

5.15.1      CRITICAL STAKEHOLDERS IN BUYING PROCESS                 120

5.15.2      BUYING CRITERIA           121

5.16         TOTAL COST OF OWNERSHIP: FARM EQUIPMENT MARKET               124

5.16.1      TOTAL COST OF OWNERSHIP FOR ELECTRIC AND DIESEL TRACTORS          125

5.16.1.1  Diesel tractor         126

5.16.1.2  Electric tractor      126

5.16.1.3  Cumulative            127

5.17         OEM FUTURE INVESTMENTS, BY KEY PLAYER    129

5.18         OEM ANALYSIS 132

5.18.1      ELECTRIC/HYBRID TRACTOR BATTERY CAPACITY VS. MOTOR OUTPUT             132

5.18.2      REGIONAL TREND OF DIESEL TRACTORS, BY DRIVE TYPE, 2024           133

5.18.3      TRACTOR HORSEPOWER, BY KEY OEM 134

5.19         PRICE RANGES OF TRACTOR MODELS FROM TOP OEMS                 135

5.19.1      MAHINDRA&MAHINDRA LTD.   135

5.19.2      DEERE & COMPANY        136

5.19.3      MASSEY FERGUSON (AGCO CORPORATION)      137

5.19.4      EICHER TRACTOR (TAFE)            138

5.19.5      SONALIKA (INTERNATIONAL TRACTORS LIMITED (ITL))    139

5.19.6      KUBOTA CORPORATION              139

5.19.7      NEW HOLLAND 140

5.19.8      CASE IH                141

6               OEM TRACTOR AND COMBINE HARVESTER SALES, BY COUNTRY 2022 – 2024     143

6.1           EUROPE               143

6.1.1        UK          143

6.1.2        GERMANY           143

6.1.3        ITALY    144

6.1.4        FRANCE                144

6.1.5        SPAIN    145

6.1.6        TURKEY                145

6.2           ASIA PACIFIC     145

6.2.1        INDIA    145

6.3           OEM-WISE COMBINE HARVESTER SALES, BY COUNTRY, 2023–2024              146

6.3.1        ASIA PACIFIC     146

6.3.1.1    India       146

6.3.2        EUROPE               146

6.3.2.1    Spain      146

7               FARM IMPLEMENTS MARKET, BY FUNCTION     147

7.1           INTRODUCTION              148

7.2           PLOWING & CULTIVATING         149

7.2.1        HIGHER YIELDS CATERING TO NEEDS OF GROWING POPULATION TO BOOST MARKET          149

7.3           SOWING & PLANTING    150

7.3.1        REDUCTION OF OVERALL COSTS TO PROPEL MARKET                 150

7.4           PLANT PROTECTION AND FERTILIZING               152

7.4.1        INCREASED CROP PRODUCTION AND ENHANCED FOOD QUALITY TO DRIVE DEMAND      152

7.5           HARVESTING & THRESHING       153

7.5.1        MULTIPLE AGRICULTURAL ACTIVITIES IN SINGLE PROCESS TO DRIVE MARKET     153

7.6           OTHER FUNCTIONS       154

7.7           INDUSTRY INSIGHTS     155

8               ELECTRIC TRACTOR MARKET, BY PROPULSION                 156

8.1           INTRODUCTION              157

8.2           BATTERY ELECTRIC       159

8.2.1        REDUCTION OF BATTERY MANUFACTURING COSTS TO DRIVE MARKET 159

8.3           HYBRID ELECTRIC           161

8.3.1        HIGHER POWER OUTPUT THAN BATTERY ELECTRIC TRACTORS TO DRIVE MARKET 161

8.4           HYDROGEN        163

8.4.1        ADVANCEMENTS IN FUEL CELL TECHNOLOGY AND INFRASTRUCTURE TO DRIVE MARKET  163

8.5           PRIMARY INSIGHTS        164

9               FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE     165

9.1           INTRODUCTION              166

9.2           TRACTORS          167

9.2.1        INCREASING COLLABORATIONS BETWEEN OEMS AND APPLICATION COMPANIES TO DRIVE MARKET 167

9.3           COMBINES          168

9.3.1        DEMAND FOR HIGHER PRODUCTIVITY TO DRIVE MARKET               168

9.4           SPRAYERS            169

9.4.1        HIGHER EFFICIENCY IN FARM OPERATIONS TO BOOST DEMAND             169

9.5           BALERS 170

9.5.1        INCREASING PREFERENCE FOR ROUND BALERS WITH PRE-CUTTING SYSTEMS TO PROPEL MARKET   170

9.6           OTHER RENTAL EQUIPMENT TYPES       171

9.7           INDUSTRY INSIGHTS     172

10            FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT                 173

10.1         INTRODUCTION              174

10.2         <30 HP  175

10.2.1      DEMAND FOR SMALL-SIZED FARMS TO PROPEL MARKET               175

10.3         31–70 HP               176

10.3.1      MODERATE POWER AND EASE OF USE TO FUEL MARKET               176

10.4         71–130 HP             177

10.4.1      INCREASING FARM MECHANIZATION RATES TO BOOST DEMAND             177

10.5         131–250 HP           178

10.5.1      HIGH DEMAND FOR LARGE-SCALE AGRICULTURE OPERATIONS TO PROPEL MARKET         178

10.6         >250 HP                179

10.6.1      INCREASING COMMERCIAL FARMING ACTIVITIES TO DRIVE DEMAND               179

10.7         INDUSTRY INSIGHTS     181

11            FARM TRACTOR MARKET, BY DRIVE TYPE           182

11.1         INTRODUCTION              183

11.2         TWO-WHEEL DRIVE       185

11.2.1      SMALLER TURNING CIRCLE, FEWER MECHANICAL PARTS, AND LOWER PRICE TO DRIVE MARKET 185

11.3         FOUR-WHEEL DRIVE      187

11.3.1      BETTER TRACTION CONTROL UNDER HARSH CONDITIONS AND QUICKER FARMING TO BOOST MARKET                 187

11.4         INDUSTRY INSIGHTS     190

12            FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE                 191

12.1         INTRODUCTION              192

12.2         CEREAL COMBINES         194

12.2.1      INCREASING FARM MECHANIZATION TO DRIVE DEMAND             194

12.3         NON-CEREAL COMBINES             196

12.3.1      IMPROVED SILAGE QUALITY TO DRIVE DEMAND                 196

12.4         BALERS 198

12.4.1      MINIMIZED WASTAGE AND INCREASED PRODUCTIVITY TO DRIVE DEMAND        198

12.5         SELF-PROPELLED SPRAYERS      199

12.5.1      LARGE-SCALE PRODUCTION TO DRIVE MARKET                 199

12.6         TRACTOR-MOUNTED SPRAYERS              201

12.6.1      BETTER MANEUVRABILITY TO DRIVE DEMAND FOR SMALL AND MEDIUM-SIZED FARMS       201

12.7         INDUSTRY INSIGHTS     203

13            FARM TRACTOR MARKET, BY POWER OUTPUT 204

13.1         INTRODUCTION              205

13.2         <30 HP  207

13.2.1      PRESENCE OF SMALL FARMLANDS IN SEVERAL COUNTRIES TO DRIVE MARKET                207

13.2.2      OPERATIONAL DATA FOR <30 HP TRACTORS BY OEMS                 208

13.3         31–70 HP               210

13.3.1      GOVERNMENT SUBSIDIES, LOAN WAIVERS, AND POLICIES TO DRIVE MARKET     210

13.3.2      OPERATIONAL DATA FOR 30–70 HP TRACTORS BY OEMS    210

13.4         71–130 HP             212

13.4.1      NEED FOR TRACTORS WITH HIGHER POWER AND EFFICIENCY IN EXTENSIVE FARMLANDS TO DRIVE MARKET                 212

13.4.2      OPERATIONAL DATA FOR 71–130 HP TRACTORS BY OEMS    213

13.5         131–250 HP           215

13.5.1      PRESENCE OF LARGE FARMLANDS IN EUROPE TO DRIVE MARKET 215

13.5.2      OPERATIONAL DATA FOR 131–250 HP TRACTORS BY OEMS    215

13.6         >250 HP                217

13.6.1      GROWING ORGANIZED FARMING ACTIVITIES TO DRIVE MARKET               217

13.7         INDUSTRY INSIGHTS     219

14            FORESTRY EQUIPMENT MARKET, BY EQUIPMENT TYPE                 220

14.1         INTRODUCTION              221

14.2         FELLER BUNCHERS         223

14.2.1      DEMAND FOR FTL PROCESS IN AMERICAS TO BOOST MARKET               223

14.3         HARVESTERS     224

14.3.1      INCREASING PRODUCTIVITY AND MINIMIZING MANUAL LABOR TO BOOST MARKET     224

14.4         FORWARDERS   225

14.4.1      EXTRACTION OF WOOD UNDER VARIED DRIVING TERRAIN CONDITIONS TO BOOST MARKET        225

14.5         LOADERS             226

14.5.1      INCREASE IN COMMERCIAL CONSTRUCTION ACTIVITIES TO FUEL MARKET   226

14.6         SKIDDERS           227

14.6.1      TECHNOLOGICAL ADVANCEMENTS TO BOOST MARKET               227

14.7         SWING MACHINES           228

14.7.1      MULTIPLE FUNCTIONALITIES TO DRIVE MARKET                 228

14.8         OTHER FORESTRY MACHINES   229

14.9         INDUSTRY INSIGHTS     230

15            FARM TRACTOR MARKET, BY REGION   231

15.1         INTRODUCTION              232

15.2         ASIA OCEANIA  234

15.2.1      MACROECONOMIC OUTLOOK FOR NORTH ASIA OCEANIA             234

15.2.2      AUSTRALIA         239

15.2.2.1  Government assistance to farmers to drive market         239

15.2.3      CHINA  241

15.2.3.1  Large tractor manufacturing sector and significant demand to boost market          241

15.2.4      INDIA    243

15.2.4.1  Rise in farm mechanization to drive market     243

15.2.5      JAPAN   245

15.2.5.1  Increasing focus on encouraging agricultural co-operatives to fuel market    245

15.2.6      SOUTH KOREA  247

15.2.6.1  Government focus on cultivating young farmers to drive market                 247

15.2.7      REST OF ASIA OCEANIA 249

15.3         EUROPE               251

15.3.1      MACROECONOMIC OUTLOOK  251

15.3.2      FRANCE                259

15.3.2.1  Labor shortage to propel market        259

15.3.3      GERMANY           261

15.3.3.1  Increasing demand for high-powered tractors to drive market                 261

15.3.4      ITALY    263

15.3.4.1  Increasing demand for precision agriculture to fuel market                 263

15.3.5      POLAND               264

15.3.5.1  Increasing farm subsidies to drive demand      264

15.3.6      RUSSIA 266

15.3.6.1  Small and medium-sized farms to support market growth                 266

15.3.7      SPAIN    268

15.3.7.1  Shortage of labor and increasing focus on precision agriculture to boost market          268

15.3.8      TURKEY                269

15.3.8.1  Larger farm sizes and favorable government policies to fuel market    269

15.3.9      UK          271

15.3.9.1  Rising demand for high-powered tractors to drive market                 271

15.3.10   REST OF EUROPE             273

15.4         NORTH AMERICA             274

15.4.1      MACROECONOMIC OUTLOOK  274

15.4.2      CANADA               279

15.4.2.1  Farm mechanization and government investments in crop production to boost market 279

15.4.3      MEXICO                281

15.4.3.1  Government support and presence of OEMs to drive market                 281

15.4.4      US           283

15.4.4.1  Presence of key players to drive market            283

15.5         REST OF THE WORLD    285

15.5.1      MACROECONOMIC OUTLOOK  285

15.5.2      ARGENTINA       289

15.5.2.1  Increased focus of key players in manufacturing tractors to propel market    289

15.5.3      BRAZIL 290

15.5.3.1  Increasing exports of tractors and presence of agri-tech startups to propel market   290

15.5.4      OTHERS                292

15.6         INDUSTRY INSIGHTS     294

16            COMPETITIVE LANDSCAPE         295

16.1         OVERVIEW          295

16.2         KEY PLAYER STRATEGIES/RIGHT TO WIN            295

16.2.1      OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN FARM EQUIPMENT MARKET       295

16.3         REVENUE ANALYSIS       298

16.4         MARKET SHARE ANALYSIS, 2023                 299

16.5         FARM EQUIPMENT MARKET OUTLOOK, BY COUNTRY                 301

16.5.1      INDIA    301

16.5.1.1  Indian tractor OEM share analysis    302

16.5.2      US           302

16.5.2.1  US tractor OEM share analysis          303

16.6         COMPANY VALUATION 304

16.7         FINANCIAL METRICS, 2024            304

16.8         BRAND/PRODUCT COMPARISON             305

16.9         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 306

16.9.1      INTRODUCTION              306

16.9.2      STARS   306

16.9.3      EMERGING LEADERS     306

16.9.4      PERVASIVE PLAYERS      306

16.9.5      PARTICIPANTS 306

16.9.6      COMPANY FOOTPRINT: KEY PLAYERS, 2024         308

16.9.6.1  Company footprint               308

16.9.6.2  Region footprint   309

16.9.6.3  Propulsion footprint             309

16.9.6.4  Drive type footprint              310

16.9.6.5  Equipment type footprint    311

16.10       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        312

16.10.1   INTRODUCTION              312

16.10.2   PROGRESSIVE COMPANIES         312

16.10.3   RESPONSIVE COMPANIES            312

16.10.4   DYNAMIC COMPANIES  312

16.10.5   STARTING BLOCKS         312

16.10.6   COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2024                 314

16.10.6.1                 Detailed list of key startups/SMEs    314

16.11       COMPETITIVE SCENARIO             315

16.11.1   PRODUCT LAUNCHES   315

16.11.2   DEALS  325

16.11.3   EXPANSIONS     333

16.11.4   OTHER DEVELOPMENTS              336

17            COMPANY PROFILES      338

17.1         KEY PLAYERS     338

17.1.1      DEERE & COMPANY        338

17.1.1.1  Business overview 338

17.1.1.2  Products/Solutions/Services offered 340

17.1.1.3  Recent developments           342

17.1.1.3.1                Product launches  342

17.1.1.3.2                Deals      346

17.1.1.3.3                Expansions             348

17.1.1.3.4                Other developments             349

17.1.1.4  MnM view              349

17.1.1.4.1                Right to win           349

17.1.1.4.2                Strategic choices   350

17.1.1.4.3                Weaknesses and competitive threats 350

17.1.2      CNH INDUSTRIAL N.V.  351

17.1.2.1  Business overview 351

17.1.2.2  Products/Solutions/Services offered 352

17.1.2.3  Recent developments           355

17.1.2.3.1                Product launches  355

17.1.2.3.2                Deals      357

17.1.2.3.3                Expansions             359

17.1.2.4  MnM view              359

17.1.2.4.1                Right to win           359

17.1.2.4.2                Strategic choices   360

17.1.2.4.3                Weaknesses and competitive threats 360

17.1.3      MAHINDRA&MAHINDRA LTD.   361

17.1.3.1  Business overview 361

17.1.3.2  Products/Solutions/Services offered 362

17.1.3.3  Recent developments           363

17.1.3.3.1                Product launches  363

17.1.3.3.2                Deals      365

17.1.3.3.3                Expansions             366

17.1.3.3.4                Other developments             367

17.1.3.4  MnM view              367

17.1.3.4.1                Key strengths        367

17.1.3.4.2                Strategic choices   367

17.1.3.4.3                Weaknesses and competitive threats 367

17.1.4      AGCO CORPORATION   368

17.1.4.1  Business overview 368

17.1.4.2  Products/Solutions/Services offered 369

17.1.4.3  Recent developments           372

17.1.4.3.1                Product launches  372

17.1.4.3.2                Deals      374

17.1.4.3.3                Expansions             375

17.1.4.3.4                Other developments             376

17.1.4.4  MnM view              377

17.1.4.4.1                Right to win           377

17.1.4.4.2                Strategic choices   377

17.1.4.4.3                Weaknesses and competitive threats 377

17.1.5      KUBOTA CORPORATION              378

17.1.5.1  Business overview 378

17.1.5.2  Products/Solutions/Services offered 379

17.1.5.3  Recent developments           380

17.1.5.3.1                Product launches  380

17.1.5.3.2                Deals      381

17.1.5.3.3                Expansions             381

17.1.5.3.4                Other developments             383

17.1.5.4  MnM view              384

17.1.5.4.1                Right to win           384

17.1.5.4.2                Strategic choices   384

17.1.5.4.3                Weaknesses and competitive threats 384

17.1.6      CLAAS KGAA MBH           385

17.1.6.1  Business overview 385

17.1.6.2  Products/Solutions/Services offered 386

17.1.6.3  Recent developments           386

17.1.6.3.1                Product launches  386

17.1.6.3.2                Deals      389

17.1.6.3.3                Expansions             391

17.1.6.3.4                Other developments             391

17.1.6.4  MnM view              392

17.1.6.4.1                Right to win           392

17.1.6.4.2                Strategic choices   392

17.1.6.4.3                Weaknesses and competitive threats 392

17.1.7      ISEKI & CO., LTD.              393

17.1.7.1  Business overview 393

17.1.7.2  Products/Solutions/Services offered 394

17.1.7.3  Recent developments           395

17.1.7.3.1                Product launches  395

17.1.7.3.2                Deals      395

17.1.7.3.3                Expansions             396

17.1.8      ESCORTS KUBOTA LIMITED       397

17.1.8.1  Business overview 397

17.1.8.2  Products/Solutions/Services offered 398

17.1.8.3  Recent developments           399

17.1.8.3.1                Product launches  399

17.1.8.3.2                Deals      399

17.1.8.3.3                Expansions             400

17.1.9      SDF GROUP        401

17.1.9.1  Business overview 401

17.1.9.2  Products/Solutions/Services offered 402

17.1.9.3  Recent developments           403

17.1.9.3.1                Product launches  403

17.1.9.3.2                Deals      404

17.1.9.3.3                Expansions             404

17.1.9.3.4                Other developments             405

17.1.10   YANMAR HOLDINGS CO., LTD.  406

17.1.10.1                 Business overview 406

17.1.10.2                 Products/Solutions/Services offered 407

17.1.10.3                 Recent developments           408

17.1.10.3.1             Product launches  408

17.1.10.3.2             Deals      409

17.1.10.3.3             Expansions             409

17.1.10.3.4             Other developments             410

17.2         OTHER PLAYERS              411

17.2.1      JCB (JOSEPH CYRIL BAMFORD EXCAVATORS LTD.)                 411

17.2.2      TRACTORS AND FARM EQUIPMENT LIMITED    412

17.2.3      SONALIKA           413

17.2.4      TYM CORPORATION      414

17.2.5      DAEDONG CORPORATION          415

17.2.6      EXEL INDUSTRIES LTD. 416

17.2.7      BUCHER INDUSTRIES AG              417

17.2.8      ZETOR TRACTORS A.S.  418

17.2.9      ARGO TRACTORS S.P.A. 419

17.2.10   CONCERN TRACTOR PLANTS    420

17.2.11   AMAZONEN-WERKE H. DREYER SE & CO. KG       421

17.2.12   ALAMO GROUP INC.       422

17.2.13   BUHLER INDUSTRIES INC.           423

17.2.14   AUTONOMOUS TRACTOR CORPORATION           425

17.2.15   CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.  426

17.2.16   CHINA NATIONAL MACHINERY INDUSTRY CORPORATION (SINOMACH)     428

17.2.17   WEICHAI LOVOL INTELLIGENT AGRICULTURAL TECHNOLOGY CO., LTD.              429

17.2.18   BERNARD KRONE HOLDING SE & CO. KG              430

17.2.19   VERMEER CORPORATION            431

17.2.20   PÖTTINGER LANDTECHNIK GMBH         432

17.2.21   MINSK TRACTOR WORKS             433

17.2.22   HENAN QIANLI MACHINERY CO., LTD.  434

17.2.23   MASCHIO GASPARDO S.P.A.        435

17.3         OTHER PLAYERS FROM FOREST EQUIPMENT MACHINES          436

17.3.1      KOMATSU LTD.                 436

17.3.2      CATERPILLAR    437

17.3.3      PONSSE OYJ       438

17.3.4      TIGERCAT INTERNATIONAL      439

18            RECOMMENDATIONS BY MARKETSANDMARKETS                 440

18.1         ASIA OCEANIA EXPECTED TO DOMINATE FARM EQUIPMENT MARKET    440

18.2         KEY FOCUS AREAS OF ELECTRIC FARM TRACTORS                 441

18.3         FOUR-WHEEL DRIVE TRACTORS FOR FUTURE APPLICATIONS – KEY FOCUS AREA          442

18.4         GROWING DEMAND FOR AUTONOMOUS TRACTORS IN COMING YEARS                 442

18.5         CONCLUSION    443

19            APPENDIX           444

19.1         INSIGHTS FROM INDUSTRY EXPERTS     444

19.2         DISCUSSION GUIDE        445

19.3         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                449

19.4         CUSTOMIZATION OPTIONS        451

19.4.1      FARM EQUIPMENT MARKET, BY DRIVE TYPE & COUNTRY            451

19.4.1.1  Asia Oceania         451

19.4.1.1.1                China      451

19.4.1.1.2                India       451

19.4.1.1.3                Japan      451

19.4.1.1.4                South Korea           451

19.4.1.1.5                Australia 451

19.4.1.1.6                Rest of Asia Oceania            451

19.4.1.2  Europe   451

19.4.1.2.1                Germany                 451

19.4.1.2.2                France    451

19.4.1.2.3                UK          451

19.4.1.2.4                Spain      451

19.4.1.2.5                Russia     451

19.4.1.2.6                Italy         451

19.4.1.2.7                Poland    451

19.4.1.2.8                Türkiye  451

19.4.1.2.9                Rest of Europe      451

19.4.1.3  North America      451

19.4.1.3.1                US           451

19.4.1.3.2                Canada   451

19.4.1.3.3                Mexico   451

19.4.1.4  Rest of the World 452

19.4.1.4.1                Brazil      452

19.4.1.4.2                Argentina               452

19.4.1.4.3                Others    452

19.4.2      ELECTRIC TRACTOR MARKET, BY POWER OUTPUT & COUNTRY            452

19.4.2.1  Asia Oceania         452

19.4.2.1.1                China      452

19.4.2.1.2                India       452

19.4.2.1.3                Japan      452

19.4.2.1.4                South Korea           452

19.4.2.1.5                Australia 452

19.4.2.1.6                Rest of Asia Oceania            452

19.4.2.2  Europe   452

19.4.2.2.1                Germany                 452

19.4.2.2.2                France    452

19.4.2.2.3                UK          452

19.4.2.2.4                Spain      452

19.4.2.2.5                Russia     452

19.4.2.2.6                Italy         452

19.4.2.2.7                Poland    452

19.4.2.2.8                Türkiye  452

19.4.2.2.9                Rest of Europe      452

19.4.2.3  North America      453

19.4.2.3.1                US           453

19.4.2.3.2                Canada   453

19.4.2.3.3                Mexico   453

19.4.2.4  Rest of the World 453

19.4.2.4.1                Brazil      453

19.4.2.4.2                Argentina               453

19.4.2.4.3                Others    453

19.4.3      AGRICULTURE SPRAYER MARKET, BY TYPE        453

19.4.3.1  Self-propelled sprayers        453

19.4.3.2  Tractor-mounted sprayers  453

19.4.3.3  Trailed sprayers    453

19.4.3.4  Handheld sprayers                453

19.5         RELATED REPORTS         454

19.6         AUTHOR DETAILS           455

LIST OF TABLES

TABLE 1                INCLUSIONS AND EXCLUSIONS FOR FARM EQUIPMENT MARKET    35

TABLE 2                CURRENCY EXCHANGE RATES  37

TABLE 3                RESEARCH ASSUMPTIONS AND RISK ASSESSMENT     50

TABLE 4                CHARACTERISTICS OF TRANSACTIONAL AND CONTRACT FARMING   65

TABLE 5                SUPPORT FROM REGIONAL GOVERNMENTS                 67

TABLE 6                HARVESTER AND TRACTOR RENTAL RATES IN US, 2024 (USD)  68

TABLE 7                US: IMPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (000’ USD)                 71

TABLE 8                FRANCE: IMPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         71

TABLE 9                GERMANY: IMPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         72

TABLE 10              POLAND: IMPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         72

TABLE 11              CANADA: IMPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         72

TABLE 12              ITALY: EXPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         73

TABLE 13              GERMANY: EXPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         73

TABLE 14              NETHERLANDS: EXPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (000’ USD)      73

TABLE 15              CANADA: EXPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         74

TABLE 16              US: EXPORT DATA FOR HS CODE 843280 – COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (000’ USD)                 74

TABLE 17              GERMANY: IMPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         74

TABLE 18              US: IMPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (000’ USD)                 75

TABLE 19              FRANCE: IMPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         75

TABLE 20              CANADA: IMPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         75

TABLE 21              RUSSIA: IMPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2017–2021 (000’ USD)         76

TABLE 22              GERMANY: EXPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         76

TABLE 23              CHINA: EXPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         76

TABLE 24              ITALY: EXPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         77

TABLE 25              US: EXPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (000’ USD)                 77

TABLE 26              FRANCE: EXPORT DATA FOR HS CODE 843290 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         77

TABLE 27              FRANCE: IMPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         78

TABLE 28              RUSSIA: IMPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2017–2021 (000’ USD)         78

TABLE 29              POLAND: IMPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         78

TABLE 30              GERMANY: IMPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2019–2023 (000’ USD)         79

TABLE 31              CANADA: IMPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         79

TABLE 32              GERMANY: EXPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         79

TABLE 33              FRANCE: EXPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         80

TABLE 34              NORWAY: EXPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS,

BY COUNTRY, 2020–2024 (000’ USD)         80

TABLE 35              CZECH REPUBLIC: EXPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS, BY COUNTRY, 2019–2023 (000’ USD)      80

TABLE 36              US: EXPORT DATA FOR HS CODE 843210 – COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (000’ USD)                 81

TABLE 37              PATENT REGISTRATIONS RELATED TO FARM EQUIPMENT MARKET, 2022–2025               89

TABLE 38              ROLE OF COMPANIES IN FARM EQUIPMENT MARKET ECOSYSTEM    95

TABLE 39              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             97

TABLE 40              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 99

TABLE 41              ASIA OCEANIA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 101

TABLE 42              REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             102

TABLE 43              US: TIER 4 EMISSION STANDARDS            104

TABLE 44              EUROPEAN UNION: STAGE V VS. VI EMISSION STANDARDS      106

TABLE 45              CHINA: CHINA IV EMISSION STANDARDS                 106

TABLE 46              INDIA: TREM V EMISSION STANDARDS 107

TABLE 47              AVERAGE SELLING PRICE OF <30HP TRACTORS, BY REGION, 2021 – 2025 (USD)    108

TABLE 48              AVERAGE SELLING PRICE OF 31–70HP TRACTORS, BY REGION,

2021 – 2025 (USD)              109

TABLE 49              AVERAGE SELLING PRICE OF 71–130 HP TRACTORS, BY REGION,

2021 – 2025 (USD)              109

TABLE 50              AVERAGE SELLING PRICE OF 131–250 HP TRACTORS, BY REGION,

2021 – 2025 (USD)              110

TABLE 51              AVERAGE SELLING PRICE OF >250 HP TRACTORS, BY REGION, 2021 – 2025 (USD)            111

TABLE 52              AVERAGE SELLING PRICE OF TRACTOR, BY DRIVE TYPE, 2021 – 2025 (USD)  111

TABLE 53              PRODUCTS LAUNCHED BY CRITICAL PLAYERS FOR AUTONOMOUS AND

SEMI-AUTONOMOUS ELECTRIC TRACTORS        112

TABLE 54              CROP DATA MANAGEMENT SOFTWARE APPLICATIONS 113

TABLE 55              FUNDING PROVIDED BY USDA AND NSF FOR PRECISION AGRICULTURE RESEARCH AND DEVELOPMENT, 2022 TO 2025       117

TABLE 56              INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR FARM EQUIPMENT MARKET, BY PROPULSION (%)                 120

TABLE 57              KEY BUYING CRITERIA FOR TRACTORS 123

TABLE 58              TOTAL COST OF OWNERSHIP: FARM EQUIPMENT MARKET    125

TABLE 59              MODELS SELECTED FOR ANALYSIS         125

TABLE 60              COST COMPARISON OF DIESEL AND ELECTRIC TRACTORS OVER TCO OF 5 YEARS IN INDIA       128

TABLE 61              KEY MODELS FROM MAHINDRA&MAHINDRA LTD. AND THEIR PRICE RANGES               135

TABLE 62              10 MODELS FROM DEERE & COMPANY AND THEIR PRICE RANGES    136

TABLE 63              10 MODELS FROM MASSEY FERGUSON (AGCO CORPORATION) AND

THEIR PRICE RANGES    137

TABLE 64              10 MODELS FROM EICHER TRACTOR (TAFE) AND THEIR PRICE RANGES          138

TABLE 65              10 MODELS FROM SONALIKA (INTERNATIONAL TRACTORS LIMITED (ITL)) AND THEIR PRICE RANGES 139

TABLE 66              10 MODELS FROM KUBOTA CORPORATION AND THEIR PRICE RANGES          139

TABLE 67              10 MODELS FROM NEW HOLLAND AND THEIR PRICE RANGES  140

TABLE 68              10 MODELS FROM CASE IH AND THEIR PRICE RANGES                141

TABLE 69              OEM-WISE UNIT TRACTOR SALES IN UK, 2022–2023        143

TABLE 70              OEM-WISE UNIT TRACTOR SALES IN GERMANY, 2023        143

TABLE 71              OEM-WISE UNIT TRACTOR SALES IN ITALY, 2023–2024              144

TABLE 72              OEM-WISE UNIT TRACTOR SALES IN FRANCE, 2023–2024              144

TABLE 73              OEM-WISE UNIT TRACTOR SALES IN SPAIN, 2023–2024              145

TABLE 74              OEM-WISE UNIT TRACTOR SALES IN TURKEY, 2023        145

TABLE 75              OEM-WISE UNIT TRACTOR SALES IN INDIA, 2023–2024              145

TABLE 76              OEM-WISE UNIT COMBINE HARVESTER SALES AND THEIR MARKET SHARES

IN INDIA, 2023–2024          146

TABLE 77              OEM-WISE UNIT COMBINE HARVESTER SALES IN SPAIN, 2023–2024         146

TABLE 78              FARM IMPLEMENTS MARKET, BY FUNCTION, 2021–2024 (USD MILLION)            148

TABLE 79              FARM IMPLEMENTS MARKET, BY FUNCTION, 2025–2032 (USD MILLION)            149

TABLE 80              PLOWING & CULTIVATING: FARM IMPLEMENTS MARKET, BY REGION,

2021–2024 (USD MILLION)            150

TABLE 81              PLOWING & CULTIVATING: FARM IMPLEMENTS MARKET, BY REGION,

2025–2032 (USD MILLION)            150

TABLE 82              SOWING & PLANTING: FARM IMPLEMENTS MARKET, BY REGION,

2021–2024 (USD MILLION)            151

TABLE 83              SOWING & PLANTING: FARM IMPLEMENTS MARKET, BY REGION,

2025–2032 (USD MILLION)            151

TABLE 84              PLANT PROTECTION & FERTILIZING: FARM IMPLEMENTS MARKET, BY REGION, 2021–2024 (USD MILLION)                 152

TABLE 85              PLANT PROTECTION & FERTILIZING: FARM IMPLEMENTS MARKET, BY REGION, 2025–2032 (USD MILLION)                 152

TABLE 86              HARVESTING & THRESHING: FARM IMPLEMENTS MARKET, BY REGION,

2021–2024 (USD MILLION)            153

TABLE 87              HARVESTING & THRESHING: FARM IMPLEMENTS MARKET, BY REGION,

2025–2032 (USD MILLION)            153

TABLE 88              OTHER FUNCTIONS: FARM IMPLEMENTS MARKET, BY REGION,

2021–2024 (USD MILLION)            154

TABLE 89              OTHER FUNCTIONS: FARM IMPLEMENTS MARKET, BY REGION,

2025–2032 (USD MILLION)            154

TABLE 90              ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2024 (UNIT)              157

TABLE 91              ELECTRIC TRACTOR MARKET, BY PROPULSION, 2025–2032 (UNIT)              158

TABLE 92              ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2024 (USD MILLION)            158

TABLE 93              ELECTRIC TRACTOR MARKET, BY PROPULSION, 2025–2032 (USD MILLION)            158

TABLE 94              BATTERY ELECTRIC TRACTOR SPECIFICATIONS WITH MOTOR AND BATTERY CAPACITIES                 160

TABLE 95              BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2024 (UNIT)           160

TABLE 96              BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (UNIT)           160

TABLE 97              BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)          161

TABLE 98              BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)          161

TABLE 99              HYBRID ELECTRIC TRACTOR SPECIFICATIONS WITH MOTOR AND ENGINE CAPACITIES              162

TABLE 100            HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2024 (UNIT)           162

TABLE 101            HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (UNIT)           162

TABLE 102            HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)          163

TABLE 103            HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)          163

TABLE 104            HYDROGEN ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (UNIT)           164

TABLE 105            HYDROGEN ELECTRIC TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)          164

TABLE 106            FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE,

2021–2024 (USD MILLION)            166

TABLE 107            FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE,

2025–2032 (USD MILLION)            167

TABLE 108            TRACTORS RENTAL MARKET, BY REGION, 2021–2024 (USD MILLION)       167

TABLE 109            TRACTORS RENTAL MARKET, BY REGION, 2025–2032 (USD MILLION)       168

TABLE 110            COMBINES RENTAL MARKET, BY REGION, 2021–2024 (USD MILLION)       168

TABLE 111            COMBINES RENTAL MARKET, BY REGION, 2025–2032 (USD MILLION)       169

TABLE 112            SPRAYERS RENTAL MARKET, BY REGION, 2021–2024 (USD MILLION)       169

TABLE 113            SPRAYERS RENTAL MARKET, BY REGION, 2025–2032 (USD MILLION)       170

TABLE 114            BALERS RENTAL MARKET, BY REGION, 2021–2024 (USD MILLION)       170

TABLE 115            BALERS RENTAL MARKET, BY REGION, 2025–2032 (USD MILLION)       171

TABLE 116            OTHER RENTAL EQUIPMENT MARKET, BY REGION, 2021–2024 (USD MILLION)          171

TABLE 117            OTHER RENTAL EQUIPMENT MARKET, BY REGION, 2025–2032 (USD MILLION)          172

TABLE 118            FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        175

TABLE 119            FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        175

TABLE 120            <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2021–2024 (USD MILLION)            176

TABLE 121            <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2025–2032 (USD MILLION)            176

TABLE 122            31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2021–2024 (USD MILLION)            177

TABLE 123            31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2025–2032 (USD MILLION)            177

TABLE 124            71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2021–2024 (USD MILLION)            178

TABLE 125            71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2025–2032 (USD MILLION)            178

TABLE 126            131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2021–2024 (USD MILLION)            179

TABLE 127            131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2025–2032 (USD MILLION)            179

TABLE 128            >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2021–2024 (USD MILLION)            180

TABLE 129            >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION,

2025–2032 (USD MILLION)            180

TABLE 130            KEY DIFFERENCES BETWEEN 2WD AND 4WD TRACTORS          183

TABLE 131            FARM TRACTOR MARKET, BY DRIVE TYPE, 2021–2024 (‘000 UNITS)              184

TABLE 132            FARM TRACTOR MARKET, BY DRIVE TYPE, 2025–2032 (‘000 UNITS)              184

TABLE 133            FARM TRACTOR MARKET, BY DRIVE TYPE, 2021–2024 (USD MILLION)       184

TABLE 134            FARM TRACTOR MARKET, BY DRIVE TYPE, 2025–2032 (USD MILLION)       184

TABLE 135            POPULAR BRAND 2WD TRACTORS           185

TABLE 136            2WD TRACTORS: OEM AND MODELS      186

TABLE 137            TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2021–2024 (‘000 UNITS)  186

TABLE 138            TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2025–2032 (‘000 UNITS)  186

TABLE 139            TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2021–2024 (USD MILLION)            187

TABLE 140            TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2025–2032 (USD MILLION)            187

TABLE 141            POPULAR 4WD TRACTORS          188

TABLE 142            4WD TRACTORS: OEM AND MODELS      188

TABLE 143            FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2021–2024 (‘000 UNITS)  189

TABLE 144            FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2025–2032 (‘000 UNITS)  189

TABLE 145            FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2021–2024 (USD MILLION)            189

TABLE 146            FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION,

2025–2032 (USD MILLION)            189

TABLE 147            FARM EQUIPMENT MARKET BY EQUIPMENT TYPE, 2021–2024 (‘000 UNITS)      193

TABLE 148            FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2025–2032 (‘000 UNITS)      193

TABLE 149            FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2021–2024 (USD MILLION)                193

TABLE 150            FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2025–2032 (USD MILLION)                194

TABLE 151            CEREAL COMBINES MARKET, BY REGION, 2021–2024 (‘000 UNITS)              195

TABLE 152            CEREAL COMBINES MARKET, BY REGION, 2025–2032 (‘000 UNITS)              195

TABLE 153            CEREAL COMBINES MARKET, BY REGION, 2021–2024 (USD MILLION)       195

TABLE 154            CEREAL COMBINES MARKET, BY REGION, 2025–2032 (USD MILLION)       196

TABLE 155            NON-CEREAL COMBINES MARKET, BY REGION, 2021–2024 (‘000 UNITS)  197

TABLE 156            NON-CEREAL COMBINES MARKET, BY REGION, 2025–2032 (‘000 UNITS)  197

TABLE 157            NON-CEREAL COMBINES MARKET, BY REGION, 2021–2024 (USD MILLION)            197

TABLE 158            NON-CEREAL COMBINES MARKET, BY REGION, 2025–2032 (USD MILLION)            197

TABLE 159            BALERS MARKET, BY REGION, 2021–2024 (‘000 UNITS) 198

TABLE 160            BALERS MARKET, BY REGION, 2025–2032 (‘000 UNITS) 198

TABLE 161            BALERS MARKET, BY REGION, 2021–2024 (USD MILLION)            199

TABLE 162            BALERS MARKET, BY REGION, 2025–2032 (USD MILLION)            199

TABLE 163            SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2021–2024 (‘000 UNITS)                200

TABLE 164            SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2025–2032 (‘000 UNITS)                200

TABLE 165            SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2021–2024 (USD MILLION)          200

TABLE 166            SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2025–2032 (USD MILLION)          200

TABLE 167            TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2021–2024 (‘000 UNITS)                201

TABLE 168            TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2025–2032 (‘000 UNITS)                202

TABLE 169            TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2021–2024 (USD MILLION)          202

TABLE 170            TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2025–2032 (USD MILLION)          202

TABLE 171            FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (‘000 UNITS)  206

TABLE 172            FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (‘000 UNITS)  206

TABLE 173            FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)            206

TABLE 174            FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)            207

TABLE 175            TRACTORS WITH <30 HP ENGINES BY OEMS                 208

TABLE 176            <30 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (‘000 UNITS)  208

TABLE 177            <30 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (‘000 UNITS)  209

TABLE 178            <30 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)            209

TABLE 179            <30 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)            209

TABLE 180            TRACTOR WITH 31–70 HP ENGINES BY OEMS                 210

TABLE 181            31–70 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (‘000 UNITS)  211

TABLE 182            31–70 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (‘000 UNITS)  211

TABLE 183            31–70 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)            211

TABLE 184            31–70 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)            211

TABLE 185            TRACTOR WITH 71–130 HP ENGINES BY OEMS                 213

TABLE 186            71–130 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (‘000 UNITS)                213

TABLE 187            71–130 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (‘000 UNITS)                214

TABLE 188            71–130 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)          214

TABLE 189            71–130 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)          214

TABLE 190            TRACTOR WITH 131–250 HP ENGINES BY OEMS                 215

TABLE 191            131–250 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (‘000 UNITS)                216

TABLE 192            131–250 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (‘000 UNITS)                216

TABLE 193            131–250 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)          216

TABLE 194            131–250 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)          217

TABLE 195            >250 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (‘000 UNITS)  218

TABLE 196            >250 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (‘000 UNITS)  218

TABLE 197            >250 HP: FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)            218

TABLE 198            >250 HP: FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)            218

TABLE 199            FORESTRY EQUIPMENT MARKET BY EQUIPMENT TYPE, 2021–2024 (USD MILLION)    222

TABLE 200            FORESTRY EQUIPMENT MARKET, BY EQUIPMENT TYPE,

2025–2032 (USD MILLION)            222

TABLE 201            FELLER BUNCHERS MARKET, BY REGION, 2021–2024 (USD MILLION)       223

TABLE 202            FELLER BUNCHERS MARKET, BY REGION, 2025–2032 (USD MILLION)       223

TABLE 203            HARVESTERS MARKET, BY REGION, 2021–2024 (USD MILLION) 224

TABLE 204            HARVESTERS MARKET, BY REGION, 2025–2032 (USD MILLION) 224

TABLE 205            FORWARDERS MARKET, BY REGION, 2021–2024 (USD MILLION) 225

TABLE 206            FORWARDERS MARKET, BY REGION, 2025–2032 (USD MILLION) 225

TABLE 207            LOADERS MARKET, BY REGION, 2021–2024 (USD MILLION)            226

TABLE 208            LOADERS MARKET, BY REGION, 2025–2032 (USD MILLION)            226

TABLE 209            SKIDDERS MARKET, BY REGION, 2021–2024 (USD MILLION)            227

TABLE 210            SKIDDERS MARKET, BY REGION, 2025–2032 (USD MILLION)            227

TABLE 211            SWING MACHINES MARKET, BY REGION, 2021–2024 (USD MILLION)       228

TABLE 212            SWING MACHINES MARKET, BY REGION, 2025–2032 (USD MILLION)       228

TABLE 213            OTHER FORESTRY MACHINES MARKET, BY REGION, 2021–2024 (USD MILLION)          229

TABLE 214            OTHER FORESTRY MACHINES MARKET, BY REGION, 2025–2032 (USD MILLION)          229

TABLE 215            FARM TRACTOR MARKET, BY REGION, 2021–2024 (UNIT)        232

TABLE 216            FARM TRACTOR MARKET, BY REGION, 2025–2032 (UNIT)        233

TABLE 217            FARM TRACTOR MARKET, BY REGION, 2021–2024 (USD MILLION)       233

TABLE 218            FARM TRACTOR MARKET, BY REGION, 2025–2032 (USD MILLION)       233

TABLE 219            ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2021–2024 (UNIT)      238

TABLE 220            ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2025–2032 (UNIT)      238

TABLE 221            ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            238

TABLE 222            ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY,

2025–2032 (USD MILLION)            239

TABLE 223            AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         240

TABLE 224            AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         240

TABLE 225            AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            240

TABLE 226            AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            241

TABLE 227            CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         242

TABLE 228            CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         242

TABLE 229            CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        242

TABLE 230            CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        243

TABLE 231            INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         244

TABLE 232            INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         244

TABLE 233            INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        244

TABLE 234            INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        245

TABLE 235            JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         246

TABLE 236            JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         246

TABLE 237            JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        246

TABLE 238            JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        247

TABLE 239            SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         248

TABLE 240            SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         248

TABLE 241            SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            248

TABLE 242            SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            249

TABLE 243            REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (UNIT)              250

TABLE 244            REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (UNIT)              250

TABLE 245            REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            250

TABLE 246            REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            251

TABLE 247            EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2021–2024 (UNIT)      257

TABLE 248            EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2025–2032 (UNIT)      257

TABLE 249            EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2021–2024 (USD MILLION)     258

TABLE 250            EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2025–2032 (USD MILLION)     258

TABLE 251            FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         259

TABLE 252            FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         259

TABLE 253            FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            260

TABLE 254            FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            260

TABLE 255            GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         261

TABLE 256            GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         262

TABLE 257            GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            262

TABLE 258            GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            262

TABLE 259            ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         263

TABLE 260            ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         263

TABLE 261            ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        264

TABLE 262            ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        264

TABLE 263            POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         265

TABLE 264            POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         265

TABLE 265            POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            265

TABLE 266            POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            266

TABLE 267            RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         266

TABLE 268            RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         267

TABLE 269            RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            267

TABLE 270            RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            267

TABLE 271            SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         268

TABLE 272            SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         268

TABLE 273            SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        269

TABLE 274            SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        269

TABLE 275            TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         270

TABLE 276            TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         270

TABLE 277            TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            270

TABLE 278            TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            271

TABLE 279            UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         271

TABLE 280            UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         272

TABLE 281            UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        272

TABLE 282            UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        272

TABLE 283            REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (UNIT)              273

TABLE 284            REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (UNIT)              273

TABLE 285            REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            273

TABLE 286            REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            274

TABLE 287            NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2021–2024 (UNIT)      278

TABLE 288            NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2025–2032 (UNIT)      278

TABLE 289            NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            279

TABLE 290            NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY,

2025–2032 (USD MILLION)            279

TABLE 291            CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         280

TABLE 292            CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         280

TABLE 293            CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            280

TABLE 294            CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            281

TABLE 295            MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         282

TABLE 296            MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         282

TABLE 297            MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            282

TABLE 298            MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            283

TABLE 299            US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         283

TABLE 300            US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         284

TABLE 301            US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        284

TABLE 302            US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        284

TABLE 303          REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2021–2024 (UNIT)                 288

TABLE 304          REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2025–2032 (UNIT)                 288

TABLE 305          REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            288

TABLE 306          REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY,

2025–2032 (USD MILLION)            288

TABLE 307            ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         289

TABLE 308            ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         289

TABLE 309            ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            290

TABLE 310            ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            290

TABLE 311            BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         291

TABLE 312            BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         291

TABLE 313            BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (USD MILLION)        291

TABLE 314            BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (USD MILLION)        292

TABLE 315            OTHERS: FARM TRACTOR MARKET, BY POWER OUTPUT, 2021–2024 (UNIT)         293

TABLE 316            OTHERS: FARM TRACTOR MARKET, BY POWER OUTPUT, 2025–2032 (UNIT)         293

TABLE 317            OTHERS: FARM TRACTOR MARKET, BY POWER OUTPUT,

2021–2024 (USD MILLION)            293

TABLE 318            OTHERS: FARM TRACTOR MARKET, BY POWER OUTPUT,

2025–2032 (USD MILLION)            294

TABLE 319            OVERVIEW OF STRATEGIES DEPLOYED BY KEY COMPANIES       295

TABLE 320            MARKET SHARE ANALYSIS, 2024                 299

TABLE 321            FARM EQUIPMENT MARKET: REGION FOOTPRINT, 2024             309

TABLE 322            FARM EQUIPMENT MARKET: PROPULSION FOOTPRINT, 2024             309

TABLE 323            FARM EQUIPMENT MARKET: DRIVE TYPE FOOTPRINT, 2024             310

TABLE 324            FARM EQUIPMENT MARKET: EQUIPMENT TYPE FOOTPRINT, 2024             311

TABLE 325            FARM EQUIPMENT MARKET: DETAILED LIST OF KEY STARTUPS/SMES    314

TABLE 326            FARM EQUIPMENT MARKET: PRODUCT LAUNCHES,

JANUARY 2021–FEBRUARY 2025  315

TABLE 327            FARM EQUIPMENT MARKET: DEALS, JANUARY 2021–FEBRUARY 2025      325

TABLE 328            FARM EQUIPMENT MARKET: EXPANSIONS, JANUARY 2021–FEBRUARY 2025  333

TABLE 329            FARM EQUIPMENT MARKET: OTHER DEVELOPMENTS,

JANUARY 2021–FEBRUARY 2025  336

TABLE 330            DEERE & COMPANY: COMPANY OVERVIEW                 339

TABLE 331            DEERE & COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED    340

TABLE 332            DEERE & COMPANY: PRODUCT LAUNCHES, JANUARY 2021 – FEBRUARY 2025                 342

TABLE 333            DEERE & COMPANY: DEALS, JANUARY 2021–FEBRUARY 2025 346

TABLE 334            DEERE & COMPANY: EXPANSIONS, JANUARY 2021–FEBRUARY 2025      348

TABLE 335            DEERE & COMPANY: OTHER DEVELOPMENTS, JANUARY 2021–FEBRUARY 2025  349

TABLE 336            CNH INDUSTRIAL N.V.: COMPANY OVERVIEW                 351

TABLE 337            CNH INDUSTRIAL N.V.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    352

TABLE 338            CNH INDUSTRIAL N.V.: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025  355

TABLE 339            CNH INDUSTRIAL N.V.: DEALS, JANUARY 2021–FEBRUARY 2025 357

TABLE 340            CNH INDUSTRIES N.V.: EXPANSIONS, JANUARY 2021–FEBRUARY 2025      359

TABLE 341            MAHINDRA&MAHINDRA LTD.: COMPANY OVERVIEW          361

TABLE 342            MAHINDRA&MAHINDRA LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED    362

TABLE 343            MAHINDRA&MAHINDRA LTD.: PRODUCT LAUNCHES,

JANUARY 2021–FEBRUARY 2025  363

TABLE 344            MAHINDRA&MAHINDRA LTD.: DEALS, JANUARY 2021–FEBRUARY 2025      365

TABLE 345            MAHINDRA&MAHINDRA LTD.: EXPANSIONS, JANUARY 2021–FEBRUARY 2025  366

TABLE 346            MAHINDRA&MAHINDRA LTD.: OTHER DEVELOPMENTS,

JANUARY 2021–FEBRUARY 2025  367

TABLE 347            AGCO CORPORATION: COMPANY OVERVIEW                 368

TABLE 348            AGCO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    369

TABLE 349            AGCO CORPORATION: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025  372

TABLE 350            AGCO CORPORATION: DEALS, JANUARY 2021–FEBRUARY 2025 374

TABLE 351            AGCO CORPORATION: EXPANSIONS, JANUARY 2021–FEBRUARY 2025      375

TABLE 352          AGCO CORPORATION: OTHER DEVELOPMENTS, JANUARY 2021–FEBRUARY 2025  376

TABLE 353            KUBOTA CORPORATION: COMPANY OVERVIEW                 378

TABLE 354            KUBOTA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    379

TABLE 355          KUBOTA CORPORATION: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025  380

TABLE 356            KUBOTA CORPORATION: DEALS, JANUARY 2021–FEBRUARY 2025      381

TABLE 357            KUBOTA CORPORATION: EXPANSIONS, JANUARY 2021–FEBRUARY 2025  381

TABLE 358            KUBOTA CORPORATION: OTHER DEVELOPMENTS,

JANUARY 2021–FEBRUARY 2025  383

TABLE 359            CLAAS KGAA MBH: COMPANY OVERVIEW                 385

TABLE 360            CLAAS KGAA MBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED    386

TABLE 361            CLAAS KGAA MBH: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025  386

TABLE 362            CLAAS KGAA MBH: DEALS, JANUARY 2021–FEBRUARY 2025 389

TABLE 363            CLAAS KGAA MBH: EXPANSIONS, JANUARY 2021–FEBRUARY 2025      391

TABLE 364            CLAAS KGAA MBH: OTHER DEVELOPMENTS, JANUARY 2021–FEBRUARY 2025  391

TABLE 365            ISEKI & CO., LTD.: COMPANY OVERVIEW                 393

TABLE 366            ISEKI & CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    394

TABLE 367            ISEKI & CO., LTD.: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025  395

TABLE 368            ISEKI & CO., LTD.: DEALS, JANUARY 2021–FEBRUARY 2025 395

TABLE 369            ISEKI & CO., LTD.: EXPANSIONS, JANUARY 2021–FEBRUARY 2025 396

TABLE 370            ESCORTS KUBOTA LIMITED: COMPANY OVERVIEW          397

TABLE 371            ESCORTS KUBOTA LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED    398

TABLE 372            ESCORTS KUBOTA LIMITED: PRODUCT LAUNCHES,

JANUARY 2021–FEBRUARY 2025  399

TABLE 373            ESCORTS KUBOTA LIMITED: DEALS, JANUARY 2021–FEBRUARY 2025      399

TABLE 374            ESCORTS KUBOTA LIMITED: EXPANSIONS, JANUARY 2021–FEBRUARY 2025  400

TABLE 375            SDF GROUP: COMPANY OVERVIEW         401

TABLE 376            SDF GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED    402

TABLE 377            SDF GROUP: PRODUCT LAUNCHES, JANUARY 2021–FEBRUARY 2025      403

TABLE 378            SDF GROUP: DEALS, JANUARY 2021–FEBRUARY 2025        404

TABLE 379            SDF GROUP: EXPANSIONS, JANUARY 2021–FEBRUARY 2025 404

TABLE 380            SDF GROUP: OTHER DEVELOPMENTS, JANUARY 2021–FEBRUARY 2025      405

TABLE 381            YANMAR HOLDINGS CO., LTD.: COMPANY OVERVIEW          406

TABLE 382            YANMAR HOLDINGS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    407

TABLE 383            YANMAR HOLDINGS CO., LTD.: PRODUCT LAUNCHES,

JANUARY 2021–FEBRUARY 2025  408

TABLE 384            YANMAR HOLDINGS CO., LTD.: DEALS, JANUARY 2021–FEBRUARY 2025  409

TABLE 385            YANMAR HOLDINGS CO., LTD.: EXPANSIONS, JANUARY 2021–FEBRUARY 2025  409

TABLE 386            YANMAR HOLDINGS CO., LTD.: OTHER DEVELOPMENTS,

JANUARY 2021–FEBRUARY 2025  410

TABLE 387            JCB: COMPANY OVERVIEW          411

TABLE 388            TRACTORS AND FARM EQUIPMENT LIMITED: COMPANY OVERVIEW   412

TABLE 389            SONALIKA: COMPANY OVERVIEW            413

TABLE 390            TYM CORPORATION: COMPANY OVERVIEW                 414

TABLE 391            DAEDONG CORPORATION: COMPANY OVERVIEW          415

TABLE 392            EXEL INDUSTRIES LTD.: COMPANY OVERVIEW                 416

TABLE 393            BUCHER INDUSTRIES AG: COMPANY OVERVIEW                 417

TABLE 394            ZETOR TRACTORS A.S.: COMPANY OVERVIEW                 418

TABLE 395            ARGO TRACTORS S.P.A.: COMPANY OVERVIEW                 419

TABLE 396            CONCERN TRACTOR PLANTS: COMPANY OVERVIEW          420

TABLE 397            AMAZONEN-WERKE H. DREYER SE & CO. KG: COMPANY OVERVIEW   421

TABLE 398            ALAMO GROUP INC.: COMPANY OVERVIEW                 422

TABLE 399            BUHLER INDUSTRIES INC.: COMPANY OVERVIEW          423

TABLE 400            AUTONOMOUS TRACTOR CORPORATION: COMPANY OVERVIEW   425

TABLE 401            CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.:

COMPANY OVERVIEW   426

TABLE 402            CHINA NATIONAL MACHINERY INDUSTRY CORPORATION (SINOMACH):

COMPANY OVERVIEW   428

TABLE 403            WEICHAI LOVOL INTELLIGENT AGRICULTURAL TECHNOLOGY CO., LTD.:

COMPANY OVERVIEW   429

TABLE 404            BERNARD KRONE HOLDING SE & CO. KG: COMPANY OVERVIEW   430

TABLE 405            VERMEER CORPORATION: COMPANY OVERVIEW          431

TABLE 406            PÖTTINGER LANDTECHNIK GMBH: COMPANY OVERVIEW          432

TABLE 407            MINSK TRACTOR WORKS: COMPANY OVERVIEW          433

TABLE 408            HENAN QIANLI MACHINERY CO., LTD.: COMPANY OVERVIEW   434

TABLE 409            MASCHIO GASPARDO S.P.A.: COMPANY OVERVIEW          435

TABLE 410            KOMATSU LTD.: COMPANY OVERVIEW 436

TABLE 411            CATERPILLAR: COMPANY OVERVIEW    437

TABLE 412            PONSSE OYJ: COMPANY OVERVIEW        438

TABLE 413            TIGERCAT INTERNATIONAL: COMPANY OVERVIEW          439

LIST OF FIGURES

FIGURE 1              RESEARCH DESIGN         39

FIGURE 2              RESEARCH METHODOLOGY MODEL      40

FIGURE 3              BREAKDOWN OF INTERVIEWS WITH EXPERTS: BY COMPANY TYPE,

DESIGNATION, AND REGION     43

FIGURE 4              RESEARCH METHODOLOGY: HYPOTHESIS BUILDING           44

FIGURE 5              FARM TRACTOR MARKET SIZE: BOTTOM-UP APPROACH

(POWER OUTPUT AND REGION)              45

FIGURE 6              FARM EQUIPMENT MARKET SIZE: TOP-DOWN APPROACH

(FARM TRACTOR, BY DRIVE TYPE)          46

FIGURE 7              DATA TRIANGULATION METHODOLOGY                 48

FIGURE 8              TRACTOR SALES, BY KEY COUNTRY, 2021–2024                 54

FIGURE 9              TRACTORS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD       55

FIGURE 10            GROWING MECHANIZATION IN FARMING AND ELECTRIC

TRACTORS TO DRIVE MARKET 57

FIGURE 11            NON-CEREAL COMBINES SEGMENT TO REGISTER HIGHEST

CAGR DURING FORECAST PERIOD          57

FIGURE 12            FOUR-WHEEL DRIVE TO BE FASTER GROWING SEGMENT

DURING FORECAST PERIOD       58

FIGURE 13            31-70 HP SEGMENT TO LEAD MARKET DURING FORECAST PERIOD         58

FIGURE 14            PLOWING & CULTIVATING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD    59

FIGURE 15            BATTERY ELECTRIC SEGMENT TO LEAD MARKET DURING FORECAST PERIOD    59

FIGURE 16            TRACTORS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       60

FIGURE 17            31-70 HP SEGMENT TO LEAD FARM TRACTOR RENTAL MARKET DURING FORECAST PERIOD  60

FIGURE 18            FORWARDER SEGMENT TO LEAD FORESTRY EQUIPMENT MARKET

BETWEEN 2025 AND 2032               61

FIGURE 19            ASIA OCEANIA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD    61

FIGURE 20            DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

IN FARM EQUIPMENT MARKET 63

FIGURE 21            US FARMS INVOLVED IN CONTRACTS, 2024                 65

FIGURE 22            MECHANIZATION RATE AND POPULATION ENGAGED IN AGRICULTURE

IN SIGNIFICANT GEOGRAPHIES, 2023      66

FIGURE 23            REVENUE SHIFT FOR FARM EQUIPMENT MARKET               81

FIGURE 24            FARM EQUIPMENT MARKET: ECOSYSTEM ANALYSIS            86

FIGURE 25            FARM EQUIPMENT MARKET: ECOSYSTEM MAPPING             87

FIGURE 26            INVESTMENT AND FUNDING, 2022–2025                 88

FIGURE 27            PATENT ANALYSIS, 2016–2025     89

FIGURE 28            SUPPLY CHAIN ANALYSIS: FARM EQUIPMENT MARKET               94

FIGURE 29            GLOBAL EMISSION REDUCTION ACROSS KEY COUNTRIES        97

FIGURE 30            NRMM EMISSION REGULATIONS OUTLOOK, 2019–2030              104

FIGURE 31            AVERAGE SELLING PRICE OF <30HP TRACTORS, BY REGION, 2021 –2025   108

FIGURE 32            AVERAGE SELLING PRICE OF 31–70 HP TRACTORS, BY REGION, 2021 – 2025         108

FIGURE 33            AVERAGE SELLING PRICE OF 71–130 HP TRACTORS, BY REGION, 2021 – 2025         109

FIGURE 34            AVERAGE SELLING PRICE OF 131–250 HP TRACTORS, BY REGION, 2021 – 2025         110

FIGURE 35            AVERAGE SELLING PRICE OF >250 HP TRACTORS, BY REGION, 2021 – 2025         110

FIGURE 36            AVERAGE SELLING PRICE OF TRACTOR, BY DRIVE TYPE, 2021 – 2025                 111

FIGURE 37            COMPARISON OF SOLID-STATE VS. LITHIUM-ION BATTERIES                115

FIGURE 38            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR FARM EQUIPMENT MARKET, BY PROPULSION                 120

FIGURE 39            KEY BUYING CRITERIA FOR DIESEL AND ELECTRIC TRACTORS    121

FIGURE 40            FACTORS INFLUENCING TOTAL COST OF OWNERSHIP       124

FIGURE 41            TOTAL COST OF OWNERSHIP FOR DIESEL TRACTOR            126

FIGURE 42            TOTAL COST OF OWNERSHIP FOR ELECTRIC TRACTOR            126

FIGURE 43            CUMULATIVE RESULT OF TCO CONSIDERING ELECTRIC AND DIESEL TRACTORS          127

FIGURE 44            BATTERY CAPACITY VS. MOTOR OUTPUT                 132

FIGURE 45            REGIONAL TREND OF DIESEL TRACTORS, BY DRIVE TYPE        133

FIGURE 46            TRACTORS OEM ANALYSIS FOR TOP KEY PLAYERS              134

FIGURE 47            FARM IMPLEMENTS MARKET, BY FUNCTION, 2025 VS. 2032 (USD MILLION)      148

FIGURE 48            ELECTRIC TRACTOR MARKET, BY PROPULSION, 2025 VS. 2032 (USD MILLION)      157

FIGURE 49            AVERAGE GLOBAL PACK AND CELL PRICE, PER KILOWATT-HOUR, 2013–2024      159

FIGURE 50            FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE,

2025 VS 2032 (USD MILLION)       166

FIGURE 51            FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT,

2025 VS. 2032 (USD MILLION)      174

FIGURE 52            FARM TRACTOR MARKET, BY DRIVE TYPE, 2025 VS 2032 (USD MILLION) 183

FIGURE 53            FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2025 VS. 2032 (USD MILLION)         192

FIGURE 54            FARM TRACTOR MARKET, BY POWER OUTPUT, 2025 VS. 2032 (USD MILLION)      205

FIGURE 55            FORESTRY EQUIPMENT MARKET, BY EQUIPMENT TYPE,

2025 VS. 2032 (USD MILLION)      221

FIGURE 56            FARM TRACTOR MARKET, BY REGION, 2025 VS 2032 (USD MILLION         232

FIGURE 57            ASIA OCEANIA REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026      235

FIGURE 58            ASIA OCEANIA GDP PER CAPITA, BY COUNTRY, 2024–2026              235

FIGURE 59            ASIA OCEANIA INFLATION RATE IN TERMS OF AVERAGE CONSUMER PRICES,

BY COUNTRY, 2024–2026                236

FIGURE 60            ASIA OCEANIA MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2024  236

FIGURE 61            ASIA OCEANIA: FARM TRACTOR MARKET SNAPSHOT          237

FIGURE 62            EUROPE REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026      253

FIGURE 63            EUROPE GDP PER CAPITA, BY COUNTRY, 2024–2026        253

FIGURE 64            EUROPE INFLATION RATE IN TERMS OF AVERAGE CONSUMER PRICES,

BY COUNTRY, 2024–2026                254

FIGURE 65            EUROPE MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2024  254

FIGURE 66            EUROPE: FARM TRACTOR MARKET SNAPSHOT                 256

FIGURE 67            NORTH AMERICA REAL GDP GROWTH RATE, BY COUNTRY, 2023–2026      275

FIGURE 68            NORTH AMERICA GDP PER CAPITA, BY COUNTRY, 2023–2026      276

FIGURE 69            NORTH AMERICA CONSUMER PRICE INDEX (CPI) INFLATION RATE, BY COUNTRY, 2023–2026               276

FIGURE 70            NORTH AMERICA MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2024  277

FIGURE 71            NORTH AMERICA FARM TRACTOR MARKET, BY COUNTRY,

2025 VS 2032 (USD MILLION)       278

FIGURE 72            REST OF THE WORLD: REAL GDP ANNUAL PERCENTAGE CHANGE, 2024–2026            285

FIGURE 73            REST OF THE WORLD: GDP PER CAPITA, 2024–2026        286

FIGURE 74            REST OF THE WORLD: AVERAGE CONSUMER PRICE INDEX (CPI) INFLATION RATE, 2024–2026                 286

FIGURE 75            REST OF THE WORLD: MANUFACTURING INDUSTRY VALUE

(AS PART OF GDP), 2024                287

FIGURE 76            REST OF THE WORLD FARM TRACTOR MARKET, BY COUNTRY,

2025 VS 2032 (USD MILLION)       287

FIGURE 77            REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2019–2023         298

FIGURE 78            FARM EQUIPMENT MARKET SHARE ANALYSIS, 2023        300

FIGURE 79            INDIAN AGRICULTURE EQUIPMENT MARKET, (‘000 UNITS)       301

FIGURE 80            INDIAN TRACTOR OEM SHARE ANALYSIS, 2024                 302

FIGURE 81            US AGRICULTURE EQUIPMENT MARKET, (‘000 UNITS) 303

FIGURE 82            US TRACTOR OEM SHARE ANALYSIS, 2024                 303

FIGURE 83            COMPANY VALUATION, 2024 (USD BILLION)                 304

FIGURE 84            COMPANY FINANCIAL METRICS, 2024 (USD BILLION)             304

FIGURE 85            BRAND COMPARISON   305

FIGURE 86            FARM EQUIPMENT MARKET: KEY PLAYERS, 2024                 307

FIGURE 87            FARM EQUIPMENT MARKET: COMPANY FOOTPRINT, 2024             308

FIGURE 88            COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024   313

FIGURE 89            DEERE & COMPANY: COMPANY SNAPSHOT, 2024        339

FIGURE 90            CNH INDUSTRIAL N.V.: COMPANY SNAPSHOT, 2023        352

FIGURE 91            MAHINDRA&MAHINDRA LTD: COMPANY SNAPSHOT          362

FIGURE 92            AGCO CORPORATION: COMPANY SNAPSHOT, 2023        369

FIGURE 93            KUBOTA CORPORATION: COMPANY SNAPSHOT, 2023               379

FIGURE 94            CLAAS KGAA MBH: COMPANY SNAPSHOT, 2024                 385

FIGURE 95            ISEKI & CO., LTD.: COMPANY SNAPSHOT, 2023                 394

FIGURE 96            ESCORTS KUBOTA LIMITED: COMPANY SNAPSHOT, 2024               398

FIGURE 97            SDF GROUP: COMPANY SNAPSHOT         402

FIGURE 98            YANMAR HOLDINGS CO., LTD.: COMPANY SNAPSHOT, 2024               406