Agricultural Machinery Components Market to Reach $77.91 Billion by 2031

Industry
โดย GlobeNewswire·Read original
Summary · why it matters

The global agricultural machinery components market is projected to grow from $58.12 billion in 2026 to $77.91 billion by 2031, registering a compound annual growth rate of 6.04%. Aging equipment fleets are driving replacement demand, with Italy's used tractor market reaching 57,000 units and an average machine age of 22 years. Precision farming retrofits are accelerating growth in electronic components, which are forecast to expand at an 8.1% CAGR through 2031. Engine components accounted for 28.4% of the market in 2025, while North America held a 32.7% revenue share. The report profiles 15 companies including Deere & Company, CNH Industrial, AGCO Corporation, and Kubota Corporation.

Impact on stocks 5

Climate Adaptation & Water▲ · 4 stocks
Kubota Corporation
6326
▲ PositiveDemandrelevance

Market growth forecast and aging fleet replacement demand benefit Kubota as a major agricultural machinery maker.

AGCO Corporation
AGCO
▲ PositiveDemandrelevance

Market growth forecast and aging fleet replacement demand benefit AGCO as a major agricultural machinery maker.

CNH Industrial N.V.
CNH
▲ PositiveDemandrelevance

Market growth forecast and aging fleet replacement demand benefit CNH as a major agricultural machinery maker.

Deere & Company
DE
▲ PositiveDemandrelevance

Market growth forecast and aging fleet replacement demand benefit Deere as a major agricultural machinery maker.

Aging Population▲ · 1 stocks
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