In 2023, John Deere reported a revenue of about 55.6 billion U.S. dollars. The company's net income amounted to 10.1 billion U.S. dollars in 2023. The reported fiscal year ends on October 31.

John Deere, the agricultural equipment company, generated about ***** billion U.S. dollars in net sales and revenue in 2024. John Deere Though it is now one of the most widely used and trusted manufacturers of farming equipment, John Deere has humble beginnings as a plow manufacturer in the state of Illinois in the early 19th century. By 2024, the company employed nearly ****** people, and spent about *** billion U.S. dollars on research and development. John Deere generates the majority of its revenue from its production and precision agricultural segment, which includes large and mid-size tractors and combines among others. Global agricultural equipment market As of 2022, John Deere was the leading farm machinery manufacturer worldwide. Some of its main competitors are Case New Holland Industrial NV, based in the United Kingdom, and Kubota Corporation, based in Japan. In 2023, Case New Holland generated approximately ***** billion U.S. dollars in revenue, down from **** billion dollars in 2021.

In 2024, John Deere's (Deere & Company's) revenue generated around 34.1 billion U.S. dollars in the U.S. and Canada region -revenue from the United States alone accounted for nearly 66 percent of the total. The company's net income worldwide amounted to 7.1 billion U.S. dollars in 2024.

The production and precision agriculture segment of John Deere's net sales and revenue streams in the fiscal year of 2024 amounted to **** billion U.S. dollars. In the fiscal year ending October 31, 2024, the company generated nearly **** billion U.S. dollars in revenue from its construction and forestry segment.

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Report Attribute/Metric	Details
Market Value in 2025	USD 170 billion
Revenue Forecast in 2034	USD 275 billion
Growth Rate	CAGR of 5.5% from 2025 to 2034
Base Year for Estimation	2024
Industry Revenue 2024	161 billion
Growth Opportunity	USD 114 billion
Historical Data	2019 - 2023
Forecast Period	2025 - 2034
Market Size Units	Market Revenue in USD billion and Industry Statistics
Market Size 2024	161 billion USD
Market Size 2027	189 billion USD
Market Size 2029	210 billion USD
Market Size 2030	222 billion USD
Market Size 2034	275 billion USD
Market Size 2035	290 billion USD
Report Coverage	Market Size for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments Covered	Equipment Type, Use Purpose, Farm Size, Purchase Type
Regional Scope	North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country Scope	U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Top 5 Major Countries and Expected CAGR Forecast	U.S., China, India, Germany, Brazil - Expected CAGR 3.6% - 5.3% (2025 - 2034)
Top 3 Emerging Countries and Expected Forecast	Brazil, India, South Africa - Expected Forecast CAGR 6.3% - 7.6% (2025 - 2034)
Top 2 Opportunistic Market Segments	Soil Preparation and Harvesting & Threshing Use Purpose
Top 2 Industry Transitions	Digital Revolution in Farming, Electrification of Farm Equipment
Companies Profiled	John Deere, CNH Industrial, AGCO Corporation, Kubota Corporation, CLAAS, Mahindra & Mahindra, Escorts Limited, SDF Group, ISEKI & Co, Yanmar Co, JCB and AGROSTROJ Pelhimov
Customization	Free customization at segment, region, or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement (10% of report value)

The farming equipment manufacturer John Deere employed nearly 75,847 people in 2024, a decrease from the previous year, when the company had about 82,956 employees. John Deere's sales figures John Deere has three main product categories: production and precision agriculture, agriculture and turf, and construction and forestry. The majority of the company’s sales are generated by the production and precision agriculture segment. In 2024, John Deere’s revenue amounted to around 51.7 billion U.S. dollars. The United States and Canada are the biggest regional market for the company, with sales of around 34.1 billion U.S. dollars. Farm machinery market Farming machinery is one of the great innovations of the last two centuries, allowing us to significantly increase our agricultural yields and take a major step towards eradicating world hunger. John Deere and Co. is the world’s largest farm machinery manufacturer in terms of revenue, as of 2022. John Deere’s main competitors in that market include Case New Holland Industrial, Kubota Corporation, and AGCO. Case New Holland is based in the United Kingdom and generated net revenue of about 24.6 billion U.S. dollars in 2023.

The agricultural machinery manufacturing industry in the US is currently experiencing significant challenges due to high crop production and persistently high interest rates. While crop prices expanded machinery sales early in the current period, record-high crop production levels have since led to an oversupply, causing crop prices to plummet. Consequently, farmers' incomes have fallen, resulting in tightened budgets and deferred machinery purchases. Additionally, the market has been impacted by consistently high interest rates, making financing for new equipment less accessible. This financial strain has narrowed the profit for manufacturers, affecting smaller manufacturers more severely. Despite these obstacles, emerging markets in Southeast Asia, Africa and Latin America are providing new avenues for growth, with increased demand driven by the modernization of farming practices in these regions. Industry revenue has fallen at a CAGR of 3.4% over the current period to reach an estimated $38.1 billion after an increase of 1.0% in 2025. While agricultural price pressures loom large, significant transformative trends are occurring within the industry. Precision agriculture technologies are increasingly being adopted, with large farms leading the way due to their ability to absorb high upfront costs and achieve long-term savings. These technologies are helping to open new revenue streams and product lines for dominant companies like John Deere, which is investing heavily in research and development. Meanwhile, the rise of sustainability as a key industry driver encourages companies to develop eco-friendly and energy-efficient machinery. Manufacturers are focusing on electric and hybrid tractors to align with global climate goals and respond to consumer demand for sustainable products. The outlook for the agricultural machinery manufacturing industry isn’t that strong. Agricultural price declines are likely to persist through 2030, intensifying pressure on revenue growth. Climate change will demand increased adoption of precision agriculture technologies as farmers seek to optimize resource use amid erratic weather patterns, but it will also create additional volatility and crop failures, weakening this core customer base. Simultaneously, labor shortages in the agricultural sector will drive the uptake of autonomous machinery, presenting new growth opportunities for manufacturers that invest in AI-powered solutions. As sustainability becomes a cornerstone, innovation in electric and hybrid machinery will also become crucial to capturing market share. Companies that can adapt to these evolving conditions will be well-positioned to capture a larger share of the agricultural machinery manufacturing market. Industry revenue is forecast to continue its decline at a CAGR of 0.6% to reach $37.0 billion in 2030.

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The used construction equipment market is experiencing robust growth, driven by increasing infrastructure development globally, particularly in emerging economies. A Compound Annual Growth Rate (CAGR) of 5.80% from 2019 to 2024 suggests a healthy market expansion, projected to continue through 2033. Factors contributing to this growth include the rising cost of new equipment, making used options more attractive for budget-conscious contractors and smaller businesses. Furthermore, advancements in equipment refurbishment and maintenance technologies are extending the lifespan and usability of used machinery, enhancing its market appeal. The segment dominated by internal combustion engine-powered equipment is gradually seeing increased adoption of electric and hybrid alternatives, driven by environmental concerns and potential fuel cost savings. While the market shows promise across regions (North America, Europe, Asia-Pacific, and Rest of the World), Asia-Pacific, fueled by significant infrastructure projects, is expected to maintain a leading position in terms of market share. However, fluctuations in commodity prices, economic downturns, and potential disruptions in the global supply chain present considerable restraints to the market's growth trajectory. The various equipment types within the market – cranes, telescopic handlers, excavators, material handling equipment, loaders and backhoes – all contribute to the overall market volume, with their relative shares fluctuating based on prevailing project demands and economic conditions. The leading players in the used construction equipment market, including Komatsu, John Deere & Co, Volvo CE, Caterpillar Inc, and others, are strategically focusing on expanding their service networks and offering comprehensive maintenance packages to cater to the growing demand for reliable used equipment. The competitive landscape is marked by intense competition, with companies striving to provide superior quality, competitive pricing, and reliable after-sales support. This necessitates continuous innovation in equipment refurbishment and the development of advanced diagnostic tools to enhance the longevity and operational efficiency of used machinery. The market is also evolving with increased digitalization, resulting in better data analysis of equipment performance and usage patterns, ultimately leading to optimized maintenance schedules and enhanced asset management strategies for used construction equipment. This market analysis underscores the significant opportunities available within the used construction equipment sector, despite the challenges presented by the global economic landscape. Recent developments include: December 2022: MyCrane, a Dubai-based online crane rental service, has opened a branch in the United States. It is a new digital platform launched to disrupt and streamline the crane rental procurement process. It also provides the option to buy and sell cranes., November 2022: Maxim Crane Works L.P. has launched Maxim MarketplaceTM, an online marketplace for used equipment sales. With hundreds of fleet-owned cranes and support equipment to sell, the US rental giant is refreshing its fleet via its cutting-edge online used equipment sales platform developed in collaboration with Krank, the industry's first software developer., January 2021: The Kobelco Used Crane Finder service was launched by Kobelco Cranes. The service is intended to connect Kobelco Cranes customers who want to buy or sell a crane with potential buyers and sellers throughout the EAME (Europe, Africa, and the Middle East) region.. Notable trends are: High Cost of New Construction Equipment is driving the growth of the market.

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The U.S. earthmoving equipment market is projected to grow from $12,208.5 million in 2022 to $22,693.5 million by 2030, at a CAGR of 5.6%. This growth can be attributed to the increasing demand for earthmoving equipment in infrastructure projects, growth in the construction sector, and the increasing adoption of advanced technologies in earthmoving equipment. The increasing demand for earthmoving equipment in infrastructure projects is primarily driven by the need to upgrade aging infrastructure and the development of new infrastructure projects. The growing construction sector is also a major factor driving the demand for earthmoving equipment. The construction sector is expected to grow steadily over the forecast period, supported by increased government spending on infrastructure projects. Furthermore, the increasing adoption of advanced technologies in earthmoving equipment is also contributing to the growth of the market. These technologies include GPS-based navigation systems, automated control systems, and sensors, which help improve the efficiency and productivity of earthmoving equipment. The major players in the US Earthmoving Equipment market include Caterpillar Inc., Deere & Company, The Manitowoc Company Inc., Oshkosh Corporation, Hyundai Construction Equipment Co., Manitou Group, Tomahawk, AB Volvo, New Holland Construction (CNH Industrial N.V.), Epiroc AB (Epiroc USA LLC), J. C. Bamford Excavators Ltd., and Doosan Bobcat. (Doosan Corporation). Recent developments include: In March 2022, Manitou Group announced a new strategy to simplify product design and the management of its machine database. The company decided to implement the Teamcenter software developed by Siemens Xcelerator to tend to its overall product lifecycle in a streamlined manner. The software will be implemented in 10 production sites, including the U.S., India, France, and Italy. This move is part of the broader strategy of the Manitou Group to transform digitally. The company aims to use the benefits of virtual reality to modernize its tools and craft the same design across multiple production sites without the delay that is created due to the reworking of data. The productivity and effectiveness of 1,600 users at the company are expected to be positively impacted as a result of this move. , In April 2023, Oshkosh Corporation announced an investment in Baraja Pty Ltd., an Australia-based startup known for developing differentiated LiDAR (Light Detection and Ranging) solutions. LiDAR is remote sensing technology that uses pulsed laser to provide machines with an accurate visualization of the surveyed environment. The company made this move with the objective of enhancing its product portfolio in the areas of autonomy and safety. This move is expected to differentiate itself in the earthmoving market along with other sectors it is involved in. , In Feb 2024, Deere & Company announced a strategic partnership with Leica Geosystems AG (Hexagon AB) to develop and offer solutions to reduce material costs, enhance productivity, and reduce the number of passes required to improve safety levels by minimizing traffic on construction sites. John Deere SmartGrade, a compact track loader under the portfolio of Deere & Company., will be equipped with Leica Geosystems technology, and its sale will start this year. , In November 2023, Case Construction Equipment, a brand of CNH Industrial N.V., refurbished its wheel loader line by launching four updated models in its F-Series. The machines have an improved operator’s cab and travel at higher speeds than previous models. Moreover, they have refined electrohydraulic controls equipped with smart features and enhanced connectivity. , In October 2023, Husqvarna Construction, Volvo Construction Equipment, and Atlas Copco Group announced a partnership with the Sweden-US Green Transition Initiative to carve a pathway towards an electrified construction industry. This Sweden-US Green Transition Initiative is a collaborative program founded by Sweden’s innovation agency Vinnova, Business Sweden, Swedish Energy Agency, and Embassy of Sweden in USA. This newly formed consortium will initially focus on the development of EV charging infrastructure in the U.S.
, In October 2022, Epiroc AB, announced an acquisition of the Wain-Roy business, a manufacturer of excavator attachments in the U.S. The former company aims to strengthen its presence in the North American Construction market and expand capacity to manufacture advanced attachments in the region. .

Market Overview: The North America agricultural equipment market is projected to grow at a CAGR of 7.90% from 2025 to 2033, reaching a market size of $XX million by 2033. The market growth is primarily driven by the increasing adoption of precision farming technologies, rising demand for mechanization in the agricultural sector, and government initiatives to modernize the agriculture industry. The major segments of the market include tractors, equipment, irrigation machinery, harvesting machinery, and haying and forage machinery. Key Trends and Drivers: The North America agricultural equipment market is witnessing notable trends such as the integration of IoT and AI technologies, the adoption of sustainable farming practices, and the increasing automation of agricultural processes. The demand for fuel-efficient and environmentally friendly equipment is also on the rise. Additionally, the growing focus on data-driven farming and the need to optimize resource utilization are driving the adoption of advanced agricultural equipment. The market is dominated by established players such as Deere & Company, AGCO Corporation, and CNH Industrial NV, who are continually innovating and expanding their product portfolios to cater to the evolving needs of farmers. Recent developments include: December 2022: CNH Industrial added new Automation and Autonomy Solutions to the Ag Tech portfolio in Phoenix, Arizona, and the USA. These New Driverless Tillage and Driver Assist Harvest solutions from Raven, and Baler Automation from Case IH and New Holland, can deliver automation and autonomous equipment enhancements and help solve farmers' most significant challenges to increasing productivity., November 2022: Kubota Canada Ltd, one of the country's leading tractor and compact equipment distributors, unveiled the M7-4 diesel tractor at the Agri-Trade Equipment Expo in Red Deer, Alberta, introducing farmers to the latest innovation to come out of Kubota's popular M7 series., October 2022: Kubota Canada Ltd opened its new Canadian corporate headquarters and distribution facility in the growing Pickering Innovation Corridor., May 2022: AGCO acquired JCA Industries to increase engineering and software development capabilities and to accelerate the development of highly automated and autonomous machines., April 2022: Deere & Company and GUSS Automation formed a joint venture with an LLC in Kingsburg, Calif. Global Unmanned Spray System (GUSS) is a pioneer in semi-autonomous sprayers for orchards and vineyards., August 2021: John Deere introduced the new 6155MH Tractor that delivers all the field-proven performance and reliability of other M Series Tractors but in a high-crop configuration in California and Arizona.. Key drivers for this market are: Increasing Demand for Tomato, Adoption of Greenhouse Technology in Tomato Cultivation; Government support. Potential restraints include: Increasing Loses due to Physiological Disorder, Pest and Disease, Unfavourable Climatic Condition. Notable trends are: High Adoption of and Innovations in Farm Machinery.

The global satellite land grader market is experiencing robust growth, driven by increasing demand for precision agriculture and efficient land management techniques. The market size in 2025 is estimated at $2.5 billion, with a projected Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2033. This growth is fueled by several key factors, including the rising adoption of advanced technologies like GPS and GIS in farming, the increasing need for optimized land utilization, and government initiatives promoting sustainable agricultural practices. The expansion of precision farming techniques across diverse geographies is another major driver, leading to higher investments in sophisticated land grading equipment. While challenges like high initial investment costs and technological complexities exist, the long-term benefits of improved crop yields, reduced resource consumption, and enhanced land productivity are overriding these obstacles, leading to sustained market expansion. Segment-wise, the agricultural production application segment dominates the market, followed by medium and large-sized satellite land graders. China, the US, and India are major contributors to market growth, benefiting from expansive agricultural sectors and growing adoption of technological advancements. Leading manufacturers like John Deere, Caterpillar, and Komatsu are leveraging their established presence and technological expertise to capture significant market share. However, the emergence of numerous smaller, regional players focusing on cost-effective solutions creates a competitive landscape, fostering innovation and driving down prices. This competitive environment, along with technological advancements, will continue to shape the market's trajectory throughout the forecast period. The adoption of autonomous and AI-powered solutions is anticipated to significantly impact market growth in the coming years.

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In the fiscal year ended March 31, 2024, Komatsu, the Japan-based multinational manufacturer of construction, mining, and military equipment, generated around 3.9 trillion Japanese yen in revenue. Background on Komatsu Limited Following a separation from its parent company, Komatsu Limited was first established in 1921 in Tokyo, Japan. As a leading multinational manufacturer of construction, mining, and military equipment, Komatsu has employees all around the world. The Japanese manufacturer employed 65,738 individuals in 2024. This represented a significant increase in the number of employees relative to the previous year, when a total of 64,343 were employed. A global leader In 2019, Komatsu was ranked as the world’s second largest manufacturer of construction machinery, making sales amounting to about 23.3 billion U.S. dollars. In addition, Komatsu held a market share of 11.5 percent in the same period, second only to the U.S.-based manufacturer Caterpillar, and well ahead of the next placed manufacturer John Deere who reported a share of 5.5 percent.

The global tree milling machine market is poised to reach a valuation of US$ 1,178.2 million in 2023. From 2023 to 2033, a slow 3.3% CAGR is expected for the market, which should result in a valuation of US$ 1,630.1 million in 2033. In 2022, the value of the market had reached US$ 1,140.6 million, and in 2023, a 4.8% Y-o-Y growth is expected.

Attributes	Key Insights
Global Tree Milling Machine Market Estimated Size (2023E)	US$ 1,178.2 million
Projected Market Valuation (2033F)	US$ 1,630.1 million
Value-based CAGR (2023 to 2033)	3.3%
Market Share of the United States	32.8%

Scope of the Report

Attribute	Details
Estimated Market Size (2023)	US$ 1,178.2 million
Projected Market Valuation (2033)	US$ 1,630.1 million
Value-based CAGR (2023 to 2033)	3.3%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value (US$ million)
Key Regions Covered	North America Europe Asia Pacific Latin America Middle East and Africa Rest of the World
Key Countries Covered	USA Canada Mexico Germany United Kingdom France Russia Brazil Argentina Japan Australia China India Indonesia South Korea
Key Segments Covered	Production Application Sales Channel Region
Key Companies Profiled	Roots Corporation Kubota Corporation John Deere Caterpillar Inc imes-icore GmbH Holzmann Maschinen GmbH Mecanumeric Group InfoTEC CNC CNC-STEP GmbH & Co. KG HoPa-Maschinenbau GmbH Grünwelt Maschinen GmbH
Report Coverage	Strategic Growth Initiatives, DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, and Competitive Landscape.

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The global off-highway EV component market size reached US$ 25.7 billion in 2022. Revenue is estimated to reach US$ 29.2 billion in 2023. Over the assessment period from 2023 to 2033, sales are projected to exhibit a 13.9% CAGR. It will likely result in a market size of US$ 106.2 billion by 2033.

Attributes	Key Insights
Off-Highway EV Component Market Size(2022A)	US$ 25.7 billion
Off-Highway EV Component Market Estimated Valuation (2023E)	US$ 29.2 billion
Off-Highway EV Component Market Projected Valuation (2033F)	US$ 106.2 billion
Value-based Off-Highway EV Component Market CAGR (2023 to 2033)	13.9%
Collective Value Share: Top 3 Countries (2023E)	46.7%

2018 to 2022 Off-Highway EV Component Market Analysis vs. 2023 to 2033 Demand Forecast

Historical Off-Highway EV Component Market (2018 to 2022)	CAGR of 11.2%
Historical Market Value (2022)	US$ 25.7 billion

Category-wise Insights

Category	Application
Sub-category	Earthmoving
Value-based CAGR (2023 to 2033)	14.8%

Category	Type
Sub-category	Electric Drive System Component
Value-based CAGR (2023 to 2033)	15.8%

Scope of Report

Attribute	Details
Estimated Off-highway EV Component Market Size (2023)	US$ 29.2 billion
Projection Off-highway EV Component Market Valuation (2033)	US$ 106.2 billion
Value-based Off-highway EV Component Market CAGR	13.9%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Industry Analysis	US$ million/billion for Value and (Units) for Volume
Key Segments Covered	Component type, Propulsion type, Application, Sales Channel and Region.
Key Companies Profiled	Caterpillar Inc. Komatsu Ltd. Volvo Construction Equipment John Deere Hitachi Construction Machinery Co., Ltd. Liebherr Group Terex Corporation Doosan Infracore Bell Equipment JCB Wacker Neuson Group Bobcat Company Manitou Group XCMG Group SANY Group Hidromek Takeuchi Manufacturing Hyundai Construction Equipment Kubota Corporation Sandvik Atlas Copco
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Driver Restrain, Opportunity, and Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Product Market size is rising upward in the past few years And it is estimated that the market will grow significantly in the forecasted period

ATTRIBUTES	DETAILS
STUDY PERIOD	2017-2030
BASE YEAR	2024
FORECAST PERIOD	2025-2030
HISTORICAL PERIOD	2017-2024
UNIT	VALUE (USD MILLION)
KEY COMPANIES PROFILED	Alamo (USA), Blount International - Woods Equipment (USA), Land Pride (USA), Baldan (Brazil), Caroni spa (Italy), John Deere (USA), Schulte Industries (Canada), TMC Cancela (Spain), Tarter Gate (USA), Walker Manufacturing (USA), Fischer srl, TEAGLE MACHINERY (UK), Howse (USA), Bobcat (South Africa), Farmer-Helper Machinery (China), Del Morino (Italy), Wessex International, Kioti Tractor (USA), Major Equipment Intl (Ireland), F.X.S. Sauerburger Traktoren und Geratebau GmbH (Germany), Van Wamel (Netherlands), GreenTec (Denmark), Lagarde (France), BERTI Macchine Agricole S.p.A. (Italy)
SEGMENTS COVERED	By Product Type - Single Spindle Type, Muti-Spindle Type, Flex Wing Type By Application - Commercial, Agricultural, Forestry, Others By Sales Channels - Direct Channel, Distribution Channel By Geography - North America, Europe, Asia-Pacific, South America, Middle East and Africa