Asia-Pacific Agriculture Equipment Market Research Report, 2029

The Asia Pacific Agriculture Equipment market to grow with above 6% CAGR from 2024–2029 due to demand for efficient farming equipment

Featured Companies

  • 1. CNH Industrial
  • 2. John Deere Ltd
  • 3. Kubota Corporation
  • 4. Lindsay Corporation
  • 5. The Toro Company
  • 6. AGCO Corporation
  • More...

Asia Pacific area is greatly supported by the agriculture equipment sector, which is at the forefront of agricultural innovation and production worldwide. The Asia Pacific area, which includes Australia's wheat fields and Southeast Asia's rice paddies, is home to a wide range of geographical features and agricultural customs. With a rapidly growing population and increasing urbanization, there is mounting pressure on farmers to enhance efficiency, sustainability, and resilience in food production. In response, the agriculture equipment industry in Asia Pacific is undergoing rapid evolution, characterized by the adoption of cutting-edge technologies, the development of tailored solutions for local farming needs, and the expansion of mechanization across diverse cropping systems. As governments prioritize modernization and mechanization of agriculture, coupled with rising incomes and changing consumer preferences, the demand for advanced agriculture equipment continues to soar. The Asia-Pacific region's emerging markets, including Southeast Asian nations, China, and India, provide substantial prospects for makers of agricultural equipment. Due to the sizeable agricultural sectors in these nations, there is a growing need for contemporary machinery to increase output and efficiency. The Asia Pacific region is a major hub for international trade in agriculture equipment, with countries like Japan, South Korea, and China exporting machinery to markets around the world. The region also imports a significant amount of agriculture equipment, including tractors, harvesters, and implements, to meet domestic demand. According to the research report, “Asia Pacific Agriculture Equipment Market Research Report, 2029,” published by Actual Market Research, the Asia Pacific Agriculture Equipment market is anticipated to grow with more than 6% CAGR from 2024–2029. The Asia Pacific region is experiencing a shift towards mechanized farming practices as countries aim to increase agricultural productivity and efficiency. Tractors play a central role in mechanization by replacing traditional manual labor with mechanized operations, such as plowing, seeding, and harvesting, thereby driving demand for tractors. A sizable fraction of the agricultural labour force in several Asia-Pacific nations is made up of smallholder farmers. With the use of tractors, small-scale farmers may boost their output, use less labour, and make more money. The need for small and medium-sized tractors that are appropriate for smallholder agricultural operations is therefore rising. Asia-Pacific governments frequently offer assistance and financial incentives to encourage the modernization and mechanisation of agriculture. Farmer investment in mechanised equipment is encouraged by programmes providing subsidies or incentives for the purchase of tractors and other agricultural gear, which fuels demand in the tractor market. Alongside smallholder farming, there is a trend towards larger commercial farming operations in some parts of Asia Pacific. Commercial farms require larger and more powerful tractors to efficiently manage larger land holdings and increase productivity. The expansion of commercial farming contributes to the demand for high-horsepower tractors. Economic growth and rising farm incomes in many countries in the Asia Pacific region enable farmers to invest in modern agricultural equipment, including tractors. As farmers seek to improve their efficiency and productivity, there is a corresponding increase in demand for tractors equipped with advanced features and capabilities. Market DriversMechanization Efforts: Many countries in the Asia Pacific region are undergoing agricultural mechanization to improve productivity, reduce labor requirements, and enhance efficiency in farming practices. The shift from manual labor to mechanized operations drives demand for agriculture equipment such as tractors, harvesters, and implements.

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Kripa Shah

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Emerging Markets: Based Tractors, Harvesters, Planting Equipment, Irrigation and Crop Processing Equipment, Spraying Equipment, Hay and Forage Equipment, and Others. Furthermore in term of the engine power are bifurcated into the Below 30 HP, 30 HP - 100 HP, 100 HP - 200 HP and above 200 HP. In Asia Pacific the tractor is lead the market, a process of agricultural mechanisation is underway in several Asia Pacific nations in an effort to boost farming techniques' competitiveness, efficiency, and production. In this process of mechanisation, tractors are essential because they replace human labor-intensive tasks like planting, carrying, tilling, and ploughing with mechanised ones. Tractors are highly versatile machines that can perform a wide range of tasks across different stages of the farming process. From land preparation and crop cultivation to transportation and material handling, tractors are indispensable equipment for farmers in the Asia Pacific region, regardless of farm size or cropping system. The Asia Pacific region has a large population of smallholder farmers who cultivate small plots of land. Tractors offer small-scale farmers a cost-effective and efficient means of mechanizing their farming operations, enabling them to increase productivity, reduce labor requirements, and improve livelihoods. Furthermore the many governments in the Asia Pacific region provide support and subsidies to promote agricultural mechanization and modernization. Programs offering financial incentives, subsidies, and credit facilities for the purchase of tractors make them more accessible and affordable for farmers, driving market demand. In region the 100 HP – 200 HP is growing market; bigger farms and land holding consolidation in several Asia Pacific regions have led to an increase in the need for greater horsepower equipment to manage bigger land areas efficiently. Medium-to large-scale farming operations benefit greatly from machinery in the 100–200 HP range, which has the strength and efficiency needed to tackle labor-intensive jobs like planting, transporting, and tillage. Advances in agricultural technology have led to the development of more powerful and efficient machinery in the 100 HP - 200 HP range. Modern tractors and implements in this power range are equipped with advanced features such as GPS guidance, automated control systems, and precision agriculture technology, enabling farmers to optimize field operations and maximize yields. According to the report, the applications are bifurcated into Land Development and Seed Bed Preparation, Sowing and Planting, Harvesting and Threshing, Weed Cultivation, Plant Protection, Post-Harvest, and Agro-processing. In Asia Pacific the Harvesting & Threshing is growing segment; the population of the Asia-Pacific area is expanding quickly, which is driving up demand for food and agricultural goods. Farmers must find effective, automated ways to harvest and thresh crops in order to maximise yields and productivity in order to fulfil this demand. Many areas of the Asia Pacific region are seeing an increase in the number of commercial agricultural activities. Larger land holdings are characteristic of commercial farms, which also need mechanised equipment for threshing and harvesting in order to manage harvests effectively on a wide scale. Many governments in the Asia Pacific region are promoting agricultural mechanization and modernization through subsidies, incentives, and support programs. This includes initiatives to facilitate access to mechanized harvesting and threshing equipment, enabling farmers to adopt modern farming practices and improve agricultural productivity. The agriculture equipment market in the Asia Pacific region is highly competitive, driving manufacturers to innovate and develop advanced harvesting and threshing equipment that meets the needs of farmers. This includes innovations in design, technology, and efficiency to improve performance and reduce operational costs. The Asia Pacific region is home to a wide variety of crops, including rice, wheat, corn, sugarcane, soybeans, and fruits. Different crops require specialized harvesting and threshing equipment tailored to their specific characteristics and harvesting methods. As farmers diversify their crop portfolios, there is a growing need for a range of agriculture equipment to handle different crops efficiently. Based on the report, the major countries covered in the report include the China, Japan, India, Australia, South Korea and rest of Asia Pacific. In Asia Pacific the China is lead the agriculture equipment market, with huge tracts of fertile land and a wide variety of crops farmed in various parts of the country, China boasts one of the greatest agricultural industries in the world. China's vast agricultural area generates a significant need for a wide range of agricultural equipment, such as tools, irrigation systems, harvesters, planters, and tractors. The Chinese government has implemented various policies and initiatives to promote agricultural mechanization, modernization, and rural development. This includes subsidies, incentives, and financial support programs to encourage farmers to invest in modern agriculture equipment and machinery. Government support plays a crucial role in driving market growth and adoption of agriculture equipment in China. China's Large and Medium Tractor (LM) statistics was estimated to reach 5,253,595.000 units in 2022. China is known for its strong manufacturing capabilities and technological innovation in the agriculture equipment industry. Chinese manufacturers produce a wide range of machinery with advanced features, modern designs, and competitive pricing, making them attractive options for domestic farmers and international markets. With increasing labor costs, labor shortages, and the need to improve productivity and efficiency, there is a growing trend towards farm mechanization in China. Farmers are increasingly adopting modern agriculture equipment to replace manual labor and mechanize various farming operations, such as planting, harvesting, and irrigation. China is a major exporter of agriculture equipment, supplying machinery and technology to markets around the world. Chinese manufacturers benefit from strong international demand for their products, further enhancing their market leadership and competitiveness. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global agriculture equipment industry. CLAAS KGaAmbH acquired a minority stake of AgXeed B.V. which is a Dutch start-up in May 2021. This acquisition was aimed at developing and commercializing of autonomous agriculture machines. Major companies in the market have adopted acquisition, partnership and product launch as their key developmental strategies to offer better products and services to customers in the agriculture equipment market. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Agriculture Equipment market Research Report with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Equipment Type • Harvesters • Planting Equipment • Irrigation & Crop Processing Equipment • Spraying Equipment • Hay & Forage Equipment • Others By Engine Power • Below 30 HP • 30 HP - 100 HP • 100 HP - 200 HP • Above 200 HP By Application • Land Development & Seed Bed Preparation • Sowing & Planting • Harvesting & Threshing • Weed Cultivation • Plant Protection • Post-harvest & Agro-processing The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Agriculture Equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • CNH Industrial
  • John Deere Ltd
  • Kubota Corporation
  • Lindsay Corporation
  • The Toro Company
  • AGCO Corporation
  • Greaves Cotton Limited
  • Yanmar Co., Ltd.
  • J.C. Bamford Excavators Limited
  • Eicher Motors Limited
  • VST Tillers Tractors Ltd.
  • Daedong Corporation

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Research Methodology
  • 2.1. Secondary Research
  • 2.2. Primary Data Collection
  • 2.3. Market Formation & Validation
  • 2.4. Report Writing, Quality Check & Delivery
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Assumptions
  • 3.3. Limitations
  • 3.4. Abbreviations
  • 3.5. Sources
  • 3.6. Definitions
  • 4. Economic /Demographic Snapshot
  • 5. Global Agriculture Equipment Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share By Region
  • 5.3. Market Size and Forecast, By Equipment Type
  • 5.4. Market Size and Forecast, By Engine Power
  • 5.5. Market Size and Forecast, By Application
  • 6. Asia-Pacific Agriculture Equipment Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Country
  • 6.3. Market Size and Forecast, By Equipment Type
  • 6.4. Market Size and Forecast, By Engine Power
  • 6.5. Market Size and Forecast, By Application
  • 7. Market Dynamics
  • 7.1. Market Drivers & Opportunities
  • 7.2. Market Restraints & Challenges
  • 7.3. Market Trends
  • 7.4. Covid-19 Effect
  • 7.5. Supply chain Analysis
  • 7.6. Policy & Regulatory Framework
  • 7.7. Industry Experts Views
  • 7.8. China Agriculture Equipment Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Equipment Type
  • 7.8.3. Market Size and Forecast By Engine Power
  • 7.8.4. Market Size and Forecast By Application
  • 7.9. Japan Agriculture Equipment Market Outlook
  • 7.9.1. Market Size By Value
  • 7.9.2. Market Size and Forecast By Equipment Type
  • 7.9.3. Market Size and Forecast By Engine Power
  • 7.9.4. Market Size and Forecast By Application
  • 7.10. India Agriculture Equipment Market Outlook
  • 7.10.1. Market Size By Value
  • 7.10.2. Market Size and Forecast By Equipment Type
  • 7.10.3. Market Size and Forecast By Engine Power
  • 7.10.4. Market Size and Forecast By Application
  • 7.11. Australia Agriculture Equipment Market Outlook
  • 7.11.1. Market Size By Value
  • 7.11.2. Market Size and Forecast By Equipment Type
  • 7.11.3. Market Size and Forecast By Engine Power
  • 7.11.4. Market Size and Forecast By Application
  • 7.12. South Korea Agriculture Equipment Market Outlook
  • 7.12.1. Market Size By Value
  • 7.12.2. Market Size and Forecast By Equipment Type
  • 7.12.3. Market Size and Forecast By Engine Power
  • 7.12.4. Market Size and Forecast By Application
  • 8. Competitive Landscape
  • 8.1. Competitive Dashboard
  • 8.2. Business Strategies Adopted by Key Players
  • 8.3. Key Players Market Positioning Matrix
  • 8.4. Porter's Five Forces
  • 8.5. Company Profile
  • 8.5.1. Deere & Company
  • 8.5.1.1. Company Snapshot
  • 8.5.1.2. Company Overview
  • 8.5.1.3. Financial Highlights
  • 8.5.1.4. Geographic Insights
  • 8.5.1.5. Business Segment & Performance
  • 8.5.1.6. Product Portfolio
  • 8.5.1.7. Key Executives
  • 8.5.1.8. Strategic Moves & Developments
  • 8.5.2. CNH Industrial N.V.
  • 8.5.3. AGCO Corporation
  • 8.5.4. Kubota Corporation
  • 8.5.5. CLAAS KGaA mbH
  • 8.5.6. Mahindra & Mahindra Limited
  • 8.5.7. Iseki & Co., Ltd.
  • 8.5.8. J.C. Bamford Excavators Limited
  • 8.5.9. Greaves Cotton Limited
  • 8.5.10. The Toro Company
  • 8.5.11. Lindsay Corporation
  • 8.5.12. The Sonalika Group
  • 9. Strategic Recommendations
  • 10. Annexure
  • 10.1. FAQ`s
  • 10.2. Notes
  • 10.3. Related Reports
  • 11. Disclaimer

List of Tables

Table 1: Global Agriculture Equipment Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Agriculture Equipment Market Size and Forecast, By Equipment Type (2018 to 2029F) (In USD Billion)
Table 6: Global Agriculture Equipment Market Size and Forecast, By Engine Power (2018 to 2029F) (In USD Billion)
Table 7: Global Agriculture Equipment Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 8: Asia-Pacific Agriculture Equipment Market Size and Forecast, By Equipment Type (2018 to 2029F) (In USD Billion)
Table 9: Asia-Pacific Agriculture Equipment Market Size and Forecast, By Engine Power (2018 to 2029F) (In USD Billion)
Table 10: Asia-Pacific Agriculture Equipment Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 11: Influencing Factors for Agriculture Equipment Market, 2023
Table 12: China Agriculture Equipment Market Size and Forecast By Equipment Type (2018 to 2029F) (In USD Billion)
Table 13: China Agriculture Equipment Market Size and Forecast By Engine Power (2018 to 2029F) (In USD Billion)
Table 14: China Agriculture Equipment Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 15: Japan Agriculture Equipment Market Size and Forecast By Equipment Type (2018 to 2029F) (In USD Billion)
Table 16: Japan Agriculture Equipment Market Size and Forecast By Engine Power (2018 to 2029F) (In USD Billion)
Table 17: Japan Agriculture Equipment Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 18: India Agriculture Equipment Market Size and Forecast By Equipment Type (2018 to 2029F) (In USD Billion)
Table 19: India Agriculture Equipment Market Size and Forecast By Engine Power (2018 to 2029F) (In USD Billion)
Table 20: India Agriculture Equipment Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 21: Australia Agriculture Equipment Market Size and Forecast By Equipment Type (2018 to 2029F) (In USD Billion)
Table 22: Australia Agriculture Equipment Market Size and Forecast By Engine Power (2018 to 2029F) (In USD Billion)
Table 23: Australia Agriculture Equipment Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 24: South Korea Agriculture Equipment Market Size and Forecast By Equipment Type (2018 to 2029F) (In USD Billion)
Table 25: South Korea Agriculture Equipment Market Size and Forecast By Engine Power (2018 to 2029F) (In USD Billion)
Table 26: South Korea Agriculture Equipment Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)

List of Figures

Figure 1: Global Agriculture Equipment Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Agriculture Equipment Market Share By Region (2023)
Figure 6: Asia-Pacific Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Asia-Pacific Agriculture Equipment Market Share By Country (2023)
Figure 8: China Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Japan Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: India Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Australia Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: South Korea Agriculture Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2023
Figure 14: Porter's Five Forces of Global Agriculture Equipment Market

Market Research FAQs

Key trends driving growth include increasing mechanization, government support for agricultural development, adoption of advanced technologies, rising farm incomes, and changing consumer preferences for sustainable farming practices.

Government policies such as subsidies, incentives, investment in rural infrastructure, and regulations related to agricultural mechanization and modernization have a significant impact on the adoption of agriculture equipment by farmers in the region.

In China, tractors, harvesters, and irrigation equipment are popular. In India, tractors, tillers, and threshers are widely used. In Southeast Asia, rice transplanters, harvesters, and sprayers are commonly used due to the dominance of rice cultivation.

Technological innovation drives the development of advanced agriculture equipment with features such as precision agriculture technologies, GPS guidance systems, automated control systems, and remote monitoring capabilities, enhancing efficiency and productivity on the farm.

International trade affects the agriculture equipment market by influencing market competition, pricing, and availability of machinery. Countries with strong manufacturing capabilities like China and India are major exporters, while others rely on imports to meet domestic demand.
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Asia-Pacific Agriculture Equipment Market Research Report, 2029

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