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Farm Equipment Market Share

Report ID: GMI8274
Published Date: Feb 2024
Report Format: PDF

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Farm Equipment Market Share

Deere & Company and KUHN SAS hold a significant market share of over 15% in the farm equipment industry. Companies in the farm equipment industry employ several key strategies to enhance their market foothold. KUHN SAS prioritizes continuous innovation to create state-of-the-art farm equipment solutions that meet the changing demands of agriculture. The company strives to set its products apart by integrating cutting-edge technologies such as precision farming systems, automation, and IoT connectivity. For instance, in November 2023, KUHN demonstrated many new precision farming solutions at Agritechnica 2023 including the new iXtra NIR sensor for real-time crop analysis, the Quantron C GPS sprayer for exact application, and the CCI 1200 terminal with enhanced user interface & data management features.

Deere & Company adopts digital transformation strategies to elevate the connectivity, intelligence, and effectiveness of its farm equipment portfolio. The company makes significant investments in telematics, IoT sensors, AI algorithms, and cloud-based platforms to facilitate remote monitoring, predictive maintenance & valuable insights for farm management. For instance, in October 2023, Deere unveiled a new “John Deere Connected Support” platform. This platform leverages AI and remote diagnostics to offer real-time machine health insights, proactive maintenance alerts, and remote troubleshooting for farmers, improving uptime & efficiency.

Farm Equipment Market Companies

Major players operating in the farm equipment industry are:

Alamo Group
Autonomous Solutions
AGCO
Case IH
CLAAS
Deere & Company
Kubota
KUHN SAS
Minsk Tractor Works
New Holland

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

Industry size for farm equipment was worth USD 102.8 billion in 2023 and is projected to expand at over 4% CAGR between 2024 and 2032 driven by the rising demand for food globally.

Farm equipment industry from the tractors segment accounted for 41% revenue share in 2023 and is expected to grow considerably by 2032 owing to their flexibility attach and interchange equipment, such as planters, harvesters, mowers, and loaders.

Asia Pacific industry for farm equipment held more than 48% revenue share in 2023 and is set to exhibit robust growth from 2024-2032 driven by the presence of several highly populated countries in the region.

Some of the top farm equipment companies are Alamo Group, Autonomous Solutions, AGCO, Case IH, CLAAS, Deere & Company, Kubota, KUHN SAS, Minsk Tractor Works, and New Holland.