Farms.com Home   News

Farm Equipment Market Expected to Eclipse $126 Billion by 2027

Farm Equipment Market Expected to Eclipse $126 Billion by 2027

As agricultural producers begin to invest in new machinery to improve efficiency and sustainability, new research predicts significant growth in the farm equipment market. According to a report conducted by MarketsandMarkets, the farm equipment market is projected to rise in value to $126 billion by 2027. This is a significant increase from the $99.4 billion estimated value recorded in 2021.

In general, the demand for electric and autonomous farming equipment is expected to create more opportunity for the entire farming industry. Partnerships that companies like John Deere continue to establish with developers in this industry are also helping it continue to evolve.

The world’s population is expected to increase to almost 10 billion people by 2050, resulting in increased food demand. Global food demand is predicted to increase by as much as 70% by 2050, leaving agricultural producers to seek new ways to keep up with the surge.

John Deere has already begun establishing the necessary framework to develop more sustainable farm equipment for the future.

Click here to see more...

Trending Video

Coccidiosis: An Old Problem With Some New Challenges

Video: Coccidiosis: An Old Problem With Some New Challenges

Coccidiosis in broiler houses remains a nagging challenge. “It’s the same old problem and it’s a moving target at the same time,” said Phil Stayer, DVM at Sanderson Farms. What’s important is to have a strategy, be flexible and willing to test treatments to find what works best and what may need to change.