This statistic shows the total net farm income in the U.S. from 2000 to 2024. In 2024, the net farm income was projected to total some 116.1 billion U.S. dollars.

This dataset shows the Long-run projections (Dairy) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2022.

This dataset shows the long-run projections for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032.

This dataset shows the long-run projections for the US agricultural sector to 2030 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication USDA Agricultural Projections to 2031, August 2022.

This dataset shows the long-run projections (Poultry Trade) for the US agricultural sector to 2030 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2031, October 2021.

According to Cognitive market research, the Global Planting Equipment Market is expected to have a market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

The Asia-Pacific region is expected to have the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The Europe region is the fastest growing with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The seed drills are expected to have the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The mechanical segment is expected to have the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
The Cereals and Grains segment is expected to have the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.

Market Dynamics

Key Drivers

The various government schemes and policies are factoring the market growth

Governments from all over the world are aggressively starting a range of programs to give farmers in developing areas financial support, making it easier for them to acquire necessary equipment and raw materials. The total productivity and efficiency of the agriculture industry are the goals of these programs. The 54 countries studied, including all OECD and EU nations as well as 12 significant emerging economies, implemented support policies that, according to the most recent edition of the OECD's annual Agricultural Policy Monitoring and Evaluation report, which was released in June 2020, provided an average of USD 536 billion (EUR 469 billion) in direct support to farmers between 2017 and 2019. For instance, in light of the aforementioned, the Government of India launched the "Sub Mission on Agricultural Mechanisation (SMAM)" in 2014–15 as a specific initiative aimed at increasing farm mechanization in the nation. By establishing Custom Hiring Centres (CHCs), Hubs for high-tech and valuable farm equipment, and Farm Machinery Banks, the program seeks to "reach the unreached" by providing small and marginal farmers (SMFs) with inexpensive access to farm machinery. Another activity under the initiative is the distribution of various subsidized agricultural equipment and equipment to individual farmers. Another instance is of England where beginning from January 2022, farmers and growers in England may apply for up to £500,000 in government funds to invest in state-of-the-art robotics and technology to enhance food output. Up to £500,000 in grants can be used to purchase productivity-enhancing machinery such as automated milking systems, robots for spraying, harvesting, and harvesting, and driverless tractors. Moreover, in France, the government offered $10 billion (EUR 9 billion) to the agrarian community to help them purchase equipment and advanced software that can automate many of the manual agricultural tasks. Furthermore, according to information released in August 2022 by the Agriculture Secretary, the U.S. Department of Agriculture (USDA) will invest $300 million, including funds from the American Rescue Plan, in a new organic transition initiative that will help create new and better markets and income streams for farmers and producers. In addition to immediate support in the form of funding for conservation measures and enhanced crop insurance aid, the project will offer complete technical support, including farmer-to-farmer mentorship. (Source- https://www.usda.gov/media/press-releases/2022/08/22/usda-invest-300-million-new-organic-transition-initiative, https://www.oecd.org/agriculture/topics/agricultural-policy-monitoring-and-evaluation/, https://www.gov.uk/government/news/25-million-funding-for-high-tech-machinery-on-farms)

Technological progress globally is fuelling the market growth

Modern, automated planting equipment has been made possible by technological developments in the field of planting equipment as well as an increase in the mechanization of numerous agricultural processes. Due to the expanding human population and the ensuing need for increased production to meet the world's food needs, the market is seeing significant global growth. The primary driver...

There is growing interest in the impact of climate change on agricultural labor supply in China, rigorous empirical evidence for this issue is insufficient. This potentially important channel through which climate change may affect agricultural labor supply has not received attention. Using a panel survey data of 100 administrative villages and 2977 farmers in China, we find that temperature and precipitation do affect farmers’ labor allocation, 1°C increase from the current average temperature will reduce agricultural labor supply by 0.252%, and 1mm increase from the current average rainfall will reduce agricultural labor supply by 0.001%. Climate change also leads to the decline of net agricultural income, which creates distorted incentives for households to over-supply labor to non-agriculture. Moreover, farmers with relatively lower risk tolerance preferred to reduce the current supply of agricultural labor when net agricultural income is projected to decrease under climate change scenarios.

This dataset shows the long-run projections (Egg) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2022.

This dataset shows the long-run projections (US Soybean and Products) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Tables are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, February 2022.

This dataset shows the long-run projections (US Total Rice) for the U.S. agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2021.

This dataset shows the long-run projections (Pork) for the US agricultural sector to 2025 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2031, February 2022.

This dataset shows the Long-run projections for the US agricultural sector to 2030. Includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2031, December 2021.

This dataset shows the long-run projections (Wheat Trade) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2021.

This dataset shows the long-run projections for the US agricultural sector to 2025 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2031, February 2022.

This dataset shows the long-run projections (Sorghum Trade) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2021.

This dataset shows the long-run projections (US Upland Cotton) for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2021.

Long-run projections for the US agricultural sector to 2031 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2022.

This dataset shows the long-run projections (Coarse Grains Trade) for the US agricultural sector to 2030 includes assumptions for US and international macroeconomic conditions and projections for major commodities, farm income, and U.S. agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2032, October 2021.