Agricultural and Forestry Machinery Market Size, Trends, Revenue, Growth Drivers, Challenges, Key Manufacturers and Future Strategies Till 2033

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Agricultural and Forestry Machinery Market Size, Trends, Revenue, Growth Drivers, Challenges, Key Manufacturers and Future Strategies Till 2033: SPER Market Research


 Category : Agriculture

 Published: Apr-2023
 Author: SPER Analyst


Global Agricultural and Forestry Machinery Market is projected to be worth USD 605.41 billion by 2033 and is anticipated to surge at a CAGR of 5.93%.
 
Agriculture and forestry machinery are different kinds of equipment utilized in the fields of agriculture and forestry to facilitate work by making it less difficult, quicker, and more effective. Machinery used for agriculture comprises tractors, ploughs, cultivators, seed drills, and harvesters, which have their uses in planting, cultivating, and harvesting crops. Forestry machines include tools like chainsaws, skidders, feller bunchers, and harvesters, which are used to harvest and process trees. The primary aim of these machines is to help farmers and foresters carry out their tasks more accurately and with reduced physical effort. By making use of this equipment, farmers and foresters can improve their productivity, minimize labour costs, and achieve better crop yields. Nonetheless, it is crucial to use them properly and safely to prevent accidents and environmental damage.

Global Agricultural and Forestry Machinery Market Driving Factors and Challenges
The agriculture machinery market has expanded in recent years, owing to rising demand for modern gear from developing countries. Economic stability in the countries and a growing population resulted in increasing demand for food, putting further strain on the agriculture sector. This has encouraged farm owners to make agricultural land more efficient and productive in the coming years, fueling demand for efficient agriculture machinery. Factors such as mechanization of agricultural and forestry activities, government support for agriculture, and strong economic growth in developing regions have aided the growth of the agriculture and forestry equipment market. 


However, the Agricultural and Forestry Machinery market is not without its challenges. In the name of development and land investment, persistent deforestation and expanding urbanization have resulted in a scarcity of farmed land. The high cost of agricultural machinery and farmers' limited income further stifled market growth. Furthermore, a lack of competence and expertise among machine users regarding how to utilize and work with various types of machinery hampered market growth the most.

Impact of COVID-19 on Global Agricultural and Forestry Machinery Market 
The COVID-19 epidemic has had a substantial influence on the global agricultural and forestry machinery sector. The pandemic has affected global supply networks, causing delays in the production and delivery of agricultural and forestry machinery. The epidemic has resulted in commercial restrictions, including travel restrictions and border closures, affecting the export and import of agricultural and forestry machinery. The pandemic has expedited the use of digital technology in agriculture and forestry, resulting in increased demand for precision agricultural and forestry systems that can be combined with machinery. Changes in consumer behaviour have resulted in greater demand for locally derived products, which may have an impact on the sort of machinery used in agriculture and forestry.
 
Global Agricultural and Forestry Machinery Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; AGCO Corporation, Caterpillar Inc., Changfa Agricultural Equipment Co. Ltd., Changzhou Dongfeng Agricultural Machinery Group Co., Ltd., CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, Kubota Corporation, Lovol Heavy Industry Co., Ltd., Mahindra & Mahindra, Massey Ferguson, Mitsubishi Agricultural Machinery, YTO Group Corporation, Others.


Global Agricultural and Forestry Machinery Market Segmentation:

By Type: Based on the Type, Global Agricultural and Forestry Machinery Market is segmented as; Agriculture Machine (Combine & Forage Harvesters, Field Sprayers, Haymaking Machines, Milking & Poultry Machines, Soil Cultivating Equipment, Tractors), Forestry Machine (Bunchers, Chainsaw, Forwarders, Loaders, Skidders, Swing Machines).

By Automation: Based on the Automation, Global Agricultural and Forestry Machinery Market is segmented as; Automatic, Manual, Semi-Automatic.

By Business: Based on the Business, Global Agricultural and Forestry Machinery is segmented as; Aftersales, Original Equipment Manufacturers.

By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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