[Start of Market Research Report Handling] World Market Report on Agricultural Machinery 2024-2029

The agricultural machinery market size is estimated to reach USD 151.55 billion in 2024 and is projected to reach USD 197.19 billion by 2029, with a CAGR of 5.40% during the forecast period (2024-2029).
Ensuring food security is a significant challenge for countries at varying levels of economic development, and the agricultural sector plays a strategic role in improving food availability. Additionally, the reduction of arable land, the rapid increase in large-scale farming, the decline in the labor force, and the active mechanization of the agricultural sector are key factors driving the demand for agricultural machinery worldwide. High-income countries in North America and the Asia-Pacific region are known for their robust agriculture and dairy industries, making them major markets for agricultural machinery. Furthermore, governments in various countries are actively promoting the mechanization of agriculture through support for machinery purchases and financing. Training programs for machine operators are also being emphasized.
■Issued by
Mordor Intelligence

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