Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "Europe Agriculture Equipment Market, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Europe Agriculture Equipment Market will be worth US$ 59.96 Billion by 2030
The European Agricultural Machinery Market is experiencing rising mechanization costs, leading to a long-term impact. Agricultural equipment plays a crucial role in this market, encompassing tools and components used for various agricultural purposes.
Historically, European agriculture relied heavily on manual labor, but with urban migration and a decline in the agricultural workforce, farmers are increasingly turning to cost-effective and efficient agricultural technology. Labor shortages and rising labor costs are further driving the demand for agricultural machinery.
The European Agriculture Equipment Market is projected to grow at a CAGR of 4.14% from 2022 to 2030. The region is adopting technology, such as GPS tractors and drones, for precision farming. The Internet of Things, automation, robotics, data analytics, and AI are all enhancing productivity and sustainability in the face of labor shortages and climate change.
Government subsidies are also supporting the growth of the agricultural industry by aiding in the purchase of machinery and seeds. Tractors, in particular, have significant market potential, as farmers are investing in high-end tractors to increase crop yields and efficiency.
Fertilizing equipment holds a significant share in the European agricultural equipment market due to its role in enhancing crop productivity. Precision fertilizer application is crucial for sustainable farming practices and nutrient management.
France is a leader in adopting agricultural technology, driving its growth in the European agricultural equipment market. The country's commitment to sustainable farming, government support, and emphasis on innovation contribute to its rapid adoption of advanced machinery.
Overall, the European Agricultural Machinery Market is evolving with technology and government support, leading to increased efficiency, sustainability, and productivity in agriculture across the region.
Key Players
John Deere, AGCO, CLAAS KGaA, First Tractor Company Limited, and Kubota Corporation are competitors in the Europe agricultural equipment market.
In January 2023- New Holland has unveiled a prototype T7 Methane Power tractor that runs on a liquefied version of the gas for longer fill times. The new tractor has four times the fuel capacity of the company's current methane-powered T6, which runs on compressed natural gas (CNG).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $43.35 Billion |
| Forecasted Market Value (USD) by 2030 | $59.96 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Europe |
Equipment - Europe agricultural equipment market has been covered from eleven viewpoints.
- Tractor
- Machine parts
- Fertilizing equipment
- Harvesting equipment
- Garden and forestry machinery
- Livestock equipment
- Hay-making equipment
- Balers and pick-up balers
- Irrigation and crop protection
- Agricultural trailers and semi-trailers
- Machines for cleaning and sorting agricultural product
Countries - Europe agricultural equipment market has been covered from twenty viewpoints.
- France
- Germany
- Italy
- United Kingdom
- Poland
- Austria
- Netherlands
- Finland
- Romania
- Denmark
- Hungary
- Portugal
- Ireland
- Lithuania
- Greece
- Croatia
- Estonia
- Latvia
- Luxembourg
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/wv8h84
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