The machine tools market encompasses a wide array of markets, including but not limited to farm and forestry, specialty, commercial, and consumer machine tools.

Machines include but are not limited to dedicated equipment for harvesting plants (e.g., tractors) as well as harvesting machines that can also be used for cutting wood or other substances (e.g., harvesters), irrigation equipment, agricultural sprayers, planters, plows, and tillers, cutters of all kinds (e.g., hay balers), harvest management technologies, robotics, and autonomous systems and other mechanical engineering products.

Agriculture is a multi-billion dollar industry that involves growing crops, livestock, and other types of produce for human consumption. Powered equipment plays an incredibly important role in modern agriculture, particularly because it enables farmers to keep up with the demands placed on farming operations. For instance, a tractor can be used for large areas, including plowing, spraying water, and fertilizer, thereby cutting down significantly on how much work needs to be done by human beings.

Farmers across the globe are increasingly using automated farming equipment to improve their crop yields, soil fertility, operational efficiency, and profitability.

The farming industry consists of farm equipment manufacturers that provide vertically integrated options for farm machinery, including tractors and agricultural machines such as harvesters.

Types of Powered Agriculture Equipment:

Following are different types of powered agriculture equipment:

1. Tractor:

A tractor is one of the essential tools on a farm. Tractors can be used for various farm processes, including plowing, planting, cultivating, fertilizing, and harvesting crops and can also be used for transporting materials and personal transportation.

2. Combine Harvesters:

Combine harvester, commonly known as “combine” for short, is a machine that plays an indispensable role in the farming industry. As its name implies, this particular machine does the work of three separate tools, i.e., reaping, threshing, and winnowing of crops.

This machine saves farmers from purchasing multiple tools owing to its own unique features where a combined machine can do all tasks by itself.

3. Planters:

The planter is an essential farm implement used by farmers to sow seeds in rows throughout their field. One way it helps out farmers is by opening the planting furrow while trying to meter the seeds in the process and then covering them up with soil.

The planter affects the precision of a farmer’s harvest in more ways than one but opening and closing the plant bed and determining how much seed to distribute are two of its major functionalities.

4. Sprayers:

Sprayers are used in agriculture farms to spray water, insecticides, and pesticides on crops. Some farmers choose to use sprayers over other methods such as watering because they work faster and provide better results by helping to get the water or other liquids directly into individual plants' roots rather than just spaying them on their leaves.

Sprayers are relatively inexpensive, which makes them accessible to even smaller-scale farmers who might not be able to afford to install a piping system throughout large sections of land where several crops are being grown.

Global Powered Agriculture Market

The global powered agriculture market was valued at $57.39 billion in 2021, which is anticipated to grow at a CAGR of 5.02% and reach $73.32 billion by 2026.

The rising demand for powered agricultural equipment is due to the rise in the demand for food globally and surfacing food insecurity. The demand for powered agricultural equipment is also driven by an increase in the number of small-scale farmers in developing and emerging markets.

Asia-Pacific and Japan are expected to remain the global leader in the powered agriculture equipment market. This is because high population growth and skyrocketing urbanization are expected to bolster and change the consumption patterns of residents in the region. This will result in additional pressure on farmers and leave farmers competing with each other to ensure an all-year-round supply of agricultural produce to meet escalating demand.

While there has been an immense amount of growth within the global powered agriculture equipment market, there is still a significant share of the population, which is unaware of numerous benefits and support provided by regional governments to farmers.

Today, our food systems and global agriculture are being reinvented. New tools are being used to onboard compost and crop rotation and there are better ways of monitoring via satellite imagery and drones in order to reduce manual effort and make agriculture even more efficient.