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NEW YORK , May 9, 2022 /PRNewswire/ -- Technavio categorizes the global agricultural machinery market as a part of the global agricultural and farm machinery market. The agricultural machinery market report presents a comprehensive study and presentation of demand drivers, market trends, restraints, market size, and forecasts over the period of 2022 to 2026.

Agricultural Machinery Market: Key Drivers, Trends, and Challenges

View market report outlook to learn more about factors influencing the market.

The report identifies the following as the dominant players in the market:

The agricultural machinery market forecast report offers insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For example, AGCO Corp., a leading vendor offers agricultural machinery including articulated four-wheel-drive tractors which provide farmers with the highest level of productivity in large acreage enterprises. In addition, in December 2021 , the company acquired Appareo Systems LLC, a leader in software engineering, hardware development, and electronic manufacturing.

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The tractors segment emerged as the largest revenue-generating product segment of agricultural machinery market. The agriculture machinery market is dominated by the sale of products such as tractors, harvesting machinery, parts and attachments, planting and fertilizing machinery, and plowing and cultivating machinery. Owing to the application in farming activities such as plowing, tilling, harrowing, leveling, and weed control, this demand for tractors will contribute to a significant market share of the agriculture machinery market during the forecast period.

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Decelerate at a CAGR of 5.87%

APAC, Europe, North America, South America, and Middle East and Africa

US, China, India, Indonesia, and Brazil

Leading companies, Competitive strategies, Consumer engagement scope

AGCO Corp., Agrale SA, Bucher Industries AG, CHANGFA GROUP, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., CLAAS Group, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Weichei Lovol Heavy Industry Co. Ltd., Yanmar Holdings Co. Ltd., China National Machinery Industry Corp. Ltd., and J C Bamford Excavators Ltd.

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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The outbreak of COVID-19 in 2020 severely affected the agricultural sector. Lockdowns were introduced to control the spread of the disease, which further caused the closure of manufacturing facilities and disruptions in supply chains. The restrictions negatively impacted crop production, decreasing the demand for agricultural machinery and resulting in low sales. However, policies and initiatives by various governments are expected to improve growth and aid in market recovery.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/

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