{ "title": "Agricultural Machinery Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2031)", "slug": "agricultural-machinery-market", "source_url": "https://www.mordorintelligence.com/industry-reports/agricultural-machinery-market", "industry": "Indoor Farming & Farm Mechanization", "parent_industry": "Agriculture & Agribusiness", "scraped_at": "2026-09-17T18:23:39+07:00", "base_size_display": "USD 193 billion", "forecast_size_display": "USD 193 billion", "cagr_display": "6.71 %", "base_size_usd_b": 193.0, "forecast_size_usd_b": 193.0, "cagr_pct": null, "largest_market": "North America", "fastest_market": "Asia-Pacific", "images": [ { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-major-players.webp", "alt": "Major players in Agricultural Machinery industry", "local_path": "reports/agricultural-machinery-market/images/chart_2.png", "filename": "chart_2.png" }, { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-size.webp", "alt": "Agricultural Machinery Market Size", "local_path": "reports/agricultural-machinery-market/images/chart_3.png", "filename": "chart_3.png" }, { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-share-by-type.webp", "alt": "Agricultural Machinery Market Share by Type, 2025", "local_path": "reports/agricultural-machinery-market/images/chart_4.png", "filename": "chart_4.png" }, { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-share-by-automation-level.webp", "alt": "Agricultural Machinery Market Share by Automation Level, 2025", "local_path": "reports/agricultural-machinery-market/images/chart_5.png", "filename": "chart_5.png" }, { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-growth-rate-by-region.webp", "alt": "Agricultural Machinery Market Growth Rate by Region", "local_path": "reports/agricultural-machinery-market/images/chart_6.png", "filename": "chart_6.png" }, { "url": "https://s3.mordorintelligence.com/agricultural-machinery-market-competitive-landscape-market-concentration.webp", "alt": "Agricultural Machinery Market Concentration", "local_path": "reports/agricultural-machinery-market/images/chart_7.png", "filename": "chart_7.png" }, { "url": "https://www.mordorintelligence.com/express-img/footer-background.png", "alt": "footer background image", "local_path": "reports/agricultural-machinery-market/images/chart_10.png", "filename": "chart_10.png" }, { "url": "https://www.mordorintelligence.com/express-img/facebook.svg", "alt": "Mordor Intelligence on Facebook", "local_path": "reports/agricultural-machinery-market/images/chart_12.svg", "filename": "chart_12.svg" }, { "url": "https://www.mordorintelligence.com/express-img/pinterest.svg", "alt": "Mordor Intelligence on Pinterest", "local_path": "reports/agricultural-machinery-market/images/chart_14.svg", "filename": "chart_14.svg" }, { "url": "https://www.mordorintelligence.com/express-img/instagram.svg", "alt": "Mordor Intelligence on Instagram", "local_path": "reports/agricultural-machinery-market/images/chart_15.svg", "filename": "chart_15.svg" }, { "url": "https://s3.mordorintelligence.com/static/updated-images/Esomar-25.webp", "alt": "ESOMAR", "local_path": "reports/agricultural-machinery-market/images/chart_17.png", "filename": "chart_17.png" }, { "url": "https://s3.mordorintelligence.com/static/updated-images/GPTW-25-3xl.webp", "alt": "GPTW", "local_path": "reports/agricultural-machinery-market/images/chart_19.png", "filename": "chart_19.png" } ], "faq": [ { "@type": "Question", "name": "What is the current value of agricultural machinery demand worldwide in 2026?", "acceptedAnswer": { "@type": "Answer", "text": "The agricultural machinery market stands at USD 193.0 billion in 2026." } }, { "@type": "Question", "name": "Which product category leads global equipment demand?", "acceptedAnswer": { "@type": "Answer", "text": "Tractors are the largest type segment, accounting for 35.9% of total market value in 2025." } }, { "@type": "Question", "name": "Which automation tier is growing the fastest?", "acceptedAnswer": { "@type": "Answer", "text": "Automatic systems are projected to grow at a 6.17% CAGR from 2026 to 2031." } }, { "@type": "Question", "name": "Why are farmers investing in more advanced equipment even during a weak cycle?", "acceptedAnswer": { "@type": "Answer", "text": "Labor is tighter, wages are higher, and larger farms need more acres covered per pass, so the payback from efficient and connected machines is improving even when purchase timing is delayed." } } ], "sections": { "overview-points-list flex-49 share-feature-end": "Market OverviewStudy Period | 2021 - 2031 | \nMarket Size (2026) | USD 193 Billion | \nMarket Size (2031) | USD 267 Billion | \nGrowth Rate (2026 - 2031) | 6.71 % | \nFastest Growing Market | North America | \nLargest Market | Asia-Pacific | \nMarket Concentration | Medium | \nMajor Players*Disclaimer: Major Players sorted in no particular order\n\nImage © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.\n\n |", "market_overview": "Agricultural Machinery Market Analysis by Mordor IntelligenceThe agricultural machinery market size is projected to grow from USD 180.9 billion in 2025 to USD 193.0 billion in 2026 and USD 267.0 billion by 2031, registering a CAGR of 6.71% during 2026-2031. The market maintains a strong demand base due to challenges in securing farm labor, rising wage costs, and the need for higher output from fewer farms. According to the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA), in the United States, the average gross wage for all hired farm workers reached USD 19.10 per hour in October 2024, a 3% increase from the previous year, further strengthening the economic rationale for mechanized field operations. Policy support for fleet renewal and digital adoption in major farming economies is also influencing the market. However, in early 2026, demand softened in North America and Europe, leading to delayed purchases rather than eliminating long-term replacement needs. Deere & Company reported a net income of USD 656 million for the first quarter of fiscal year 2026, down from USD 869 million in the previous year, reflecting cyclical pressures currently affecting the agricultural machinery market. \n\nKey Report Takeaways* By type, tractors led with the largest 35.90% of the agricultural machinery market share in 2025, whereas the harvesting machinery segment is projected to expand at a 6.00% CAGR from 2026 to 2031.\n* By automation level, manual equipment held the largest share of the agricultural machinery market size at 46.0% in 2025, while automatic systems recorded the fastest CAGR at 6.17% from 2026 to 2031.\n* By geography, Asia-Pacific held the largest share of 36.8% in the agricultural machinery market in 2025, while North America recorded the fastest CAGR of 7.20% from 2026 to 2031.", "key_market_trends": "Market Trends and InsightsDrivers Impact Analysis of Agricultural Machinery Market*Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline | \nFarm labor scarcity and wage inflation | +1.6% | Global, highest intensity in North America, Europe, and East Asia | Short term (≤ 2 years) | \nPrecision agriculture and telematics integration | +1.8% | Global, early adoption concentrated in North America and Europe, scaling in Asia-Pacific | Medium term (2-4 years) | \nSubsidies and mechanization credit support | +1.3% | Asia-Pacific, South America, and North America | Short term (≤ 2 years) | \nFarm consolidation and output-per-acre pressure | +1.0% | North America, Europe, and emerging areas of South America | Medium term (2-4 years) | \nCustom hiring and equipment-as-a-service expansion | +0.7% | Global, with fastest uptake in South Asia and Sub-Saharan Africa | Medium term (2-4 years) | \nRegenerative and low-emission equipment funding | +0.6% | North America, Europe, and South America | Long term (≥ 4 years) | \nSource: Mordor Intelligence |", "competitive_landscape": "Competitive Landscape\n\nThe agricultural machinery market is moderately fragmented. The leading group comprises the top five companies: Deere and Company, CNH Industrial N.V., AGCO Corporation, Kubota Corporation, and CLAAS KGaA mbH. These companies maintain their position through broad product portfolios, extensive dealer networks, financing capabilities, and increasing digital integration. Other established manufacturers, such as SDF S.p.A., Yanmar Holdings Co., Ltd., and Argo Tractors S.p.A., compete by leveraging regional expertise, product specialization, and a strong presence in specific agricultural equipment categories. Additionally, niche players, including irrigation specialists, India-focused tractor manufacturers, and implement companies, hold strong positions in particular segments. This multi-tiered structure promotes active competition while preventing the market from becoming highly concentrated.\n\nCompetition is intensifying in areas where precision software, automation, and recurring service revenue intersect with traditional equipment sales. AGCO Corporation’s PTx Trimble structure exemplifies this trend, providing a robust digital platform that complements its hardware offerings and extends into retrofit, guidance, and autonomy functions. Similarly, CLAAS KGaA mbH demonstrated its commitment to innovation by maintaining research and development spending at EUR 319.9 million (USD 346 million) in fiscal year 2025, despite a slight decline in overall revenue. These developments highlight that product leadership in the agricultural machinery market increasingly depends on automation and connectivity capabilities, alongside traditional factors like engine power and machine size.\n\nThe agricultural machinery market is also creating opportunities for companies that can deliver advanced capabilities to farms unable to afford premium autonomous platforms. For instance, Mahindra and Mahindra Limited is defending its market share in India through rapid product updates. In March 2026, the company launched the Mahavator and Mahavator HD heavy-duty rotavator range and continued promoting orchard spraying solutions via its M.I.T.R.A platform. These initiatives suggest that the most sustainable competitive advantage lies in integrating machinery, software, agronomic data, and post-sale services to enhance farm outcomes throughout the entire operating cycle.\n\nAgricultural Machinery Industry Leaders* Deere & Company\n\n* AGCO Corporation\n\n* Kubota Corporation\n\n* CNH Industrial N.V.\n\n* CLAAS KGaA mbH\n\n* *Disclaimer: Major Players sorted in no particular order\nImage © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.", "component component-3 scope-of-the-report-bottom": "Global Agricultural Machinery Market Report ScopeAgricultural machinery encompasses mechanical equipment and tools utilized in farming activities, including land preparation, planting, irrigation, crop protection, harvesting, and post-harvest processing. These machines enhance operational efficiency, minimize labor dependency, boost productivity, and facilitate large-scale modern agricultural practices across various crop systems. The Agricultural Machinery Market Report is segmented by type (tractors, soil preparation and cultivation machinery, planting and seeding machinery, harvesting machinery, spraying and crop protection machinery, hay and forage machinery, and irrigation machinery), by automation level (manual, semi-automatic, and automatic), and by geography (North America, South America, Europe, Asia-Pacific, Middle East, and Africa). The market forecasts are provided in terms of value (USD).\n\nBy TypeTractors | By Horsepower | Less than 40 HP | \n | | 40 HP to 99 HP | \n | | 100 HP and Above | \n | | \n | By Tractor Type | Compact Utility Tractors | \n | | Utility Tractors | \n | | Row Crop Tractors | \n | | Orchard and Vineyard Tractors | \nSoil Preparation and Cultivation Machinery | Plows | \n | Harrows | \n | Cultivators and Tillers | \nPlanting and Seeding Machinery | Seed Drills | \n | Planters | \n | Broadcast Spreaders | \n | Transplanters | \nHarvesting Machinery | Combine Harvesters and Threshers | \n | Forage Harvesters | \n | Specialty Crop Harvesters | \nSpraying and Crop Protection Machinery | Self-Propelled Sprayers | \n | Trailed and Mounted Sprayers | \n | Aerial and Drone-Enabled Spraying Systems | \nHay and Forage Machinery | Mower-Conditioners | \n | Balers | \n | Rakes and Tedders | \nIrrigation Machinery | Sprinkler Irrigation | \n | Drip Irrigation | \n | Mechanized Pivot Systems |", "segmentation-accordion-item": "By GeographyNorth America | United States | \n | Canada | \n | Mexico | \n | Rest of North America | \nSouth America | Brazil | \n | Argentina | \n | Rest of South America | \nEurope | Germany | \n | France | \n | United Kingdom | \n | Italy | \n | Russia | \n | Rest of Europe | \nAsia-Pacific | China | \n | India | \n | Japan | \n | Australia | \n | Rest of Asia-Pacific | \nMiddle East | Saudi Arabia | \n | United Arab Emirates | \n | Turkey | \n | Rest of Middle East | \nAfrica | South Africa | \n | Nigeria | \n | Rest of Africa |" }, "dataset_properties": [ { "@type": "PropertyValue", "name": "Market Size (2026)", "value": 193, "unitText": "USD Billion" }, { "@type": "PropertyValue", "name": "Market Size (2031)", "value": 267, "unitText": "USD Billion" }, { "@type": "PropertyValue", "name": "Growth Rate (2026 - 2031)", "value": 6.71, "unitText": "PERCENT" }, { "@type": "PropertyValue", "name": "Fastest Growing Market", "value": "North America" }, { "@type": "PropertyValue", "name": "Largest Market", "value": "Asia-Pacific" }, { "@type": "PropertyValue", "name": "Market Concentration", "value": "Medium" } ], "html_path": "reports/agricultural-machinery-market/index.html", "pdf_path": "reports/agricultural-machinery-market/agricultural-machinery-market_report.pdf", "docx_path": "reports/agricultural-machinery-market/agricultural-machinery-market_report.docx", "md_path": "reports/agricultural-machinery-market/agricultural-machinery-market_report.md", "json_path": "reports/agricultural-machinery-market/agricultural-machinery-market_data.json" }