Europe Agricultural Equipment Market Projected to Reach $65.84 Billion by 2032

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

  1. Technological Advancements: Innovations such as precision farming tools, GPS-guided machinery, and automation systems enhance productivity and efficiency.
  2. Government Policies and Support: European government policies and support programs provide financial assistance for purchasing modern machinery and technology.
  3. 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.

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