Farm Equipment Market Expected to Eclipse $126 Billion by 2027

Jul 29, 2022

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.

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Video: 2026 T.K. Cheung Lecture in Animal Science - Dan Weary

T.K. Cheung Lecture in Animal Science: "Using science to assess and improve the welfare of dairy cattle"

Dan Weary is a Professor at the University of British Columbia. Dan did his BSc and MSc at McGill and Doctorate at Oxford before co-founding UBC’s Animal Welfare Program where he now co-directs this active research group. His research focuses on understanding the perspectives of animals and applying these insights to develop methods of assessing animal welfare and improving the lives of animals. His work has helped drive changes in practices (including the adoption of higher milk rations for calves and pain management for disbudding) and housing methods (including the adoption of social housing for pre-weaned calves). He also studies cow comfort and lameness, social interactions among cows, and interactions between cows, human handlers and technologies like automated millking systems that are increasingly used on farms. His presentation will outline key questions in cattle welfare, highlight recent UBC research addressing them, and showcase innovative methods for improving the lives of cattle and their caretakers.