The European agricultural equipment market is expected to grow from $45.12 billion in 2023 to $65.84 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.29% from 2024 to 2032.
Europe Agricultural Equipment Market Overview
Agricultural equipment encompasses a wide range of machinery and tools used in farming to increase productivity and efficiency.
Growth Factors in the Europe Agricultural Equipment Industry
- Technological Advancements: Innovations such as precision farming tools, GPS-guided machinery, and automation systems enhance productivity and efficiency.
- Government Policies and Support: European government policies and support programs provide financial assistance for purchasing modern machinery and technology.
- Rising Demand for Sustainable Agriculture: The growing emphasis on sustainability in agriculture drives demand for equipment that supports sustainable practices.
Key Players in the Europe Agricultural Equipment Market
- John Deere
- AGCO
- CLAAS KGaA
- First Tractor Company Limited
- Kubota Corporation
Recent Developments
- CNH Industrial NV debuted the CR11 New Holland combine at Agritechnica ’23.
- Yanmar Co. Ltd. and International Tractors Limited (ITL) formed a strategic alliance to expand product lines and network.
- Yara and John Deere partnered to increase crop yields and fertilizer efficiency.
- New Holland introduced the T7 Methane Power tractor, a revolutionary prototype with enhanced economy and extended fill times.
Related Reports
- United States Agricultural Machinery Market
- China Agriculture Equipment Market
- Global Agricultural Micronutrients Market
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