Spain Agricultural Machinery Market Size (2024 - 2029)

Spain Agricultural Machinery Market Analysis

The Spain Agricultural Machinery Market size is estimated at USD 711.65 million in 2023, and is expected to reach USD 870 million by 2028, growing at a CAGR of 4.10% during the forecast period (2023-2028).

• The market is driven by increasing rates of mechanization in developing countries. The shrinking land, water resources, and labor force have increased the need for farm mechanization in developed European nations like Spain.
• Spain has over 46.8 million food consumers and is the fourth-largest food market in Western Europe. Despite its high population density, it has more than 50% of its area under agricultural land, covering more than 2 million hectares. The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity, driven by a technological revival in the last decade.
• The Spanish government is looking to increase the quantity and revenues from agricultural products exported by 2025, but they are not necessarily focused on increasing the share of farming exports as a proportion of total exports. To achieve this goal, the government is likely to identify regions in Spain that currently produce export foods and have the potential to increase production through new institutional reforms. By implementing these reforms, the government hopes to increase the amount of agricultural products that can be exported from these regions and generate more revenue for the country.
• Additionally, in Spain, the Positive Agriculture project aims to improve the living conditions of those in the agricultural supply chain and provide essential equipment sustainably. This aim joins an already announced objective to reduce total greenhouse gas (GHC) emissions by 40% by 2030 and zero emissions by 2040. The adoption of energy-efficient machinery will further enable greater usage of agricultural machinery to support crop yield in the country.

Spain Agricultural Machinery Industry Segmentation

Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. Many types of equipment exist, from hand and power tools to tractors and countless farm implements.

The Spain agricultural machinery market is segmented by tractors (less than 50 HP, 50- 79 HP, 80-120 HP, and greater than 120 HP), ploughing and cultivating machinery (ploughs, harrows, cultivators and tillers, and other ploughing and cultivating machinery), planting machinery (seed drills, planters, spreaders, and other planting machinery), harvesting machinery (combine harvesters- threshers, forage harvesters, and other machinery), haying and forage machinery (mower- conditioners, balers, and other machinery), irrigation machinery, spraying equipment, and other machinery.

The market sizing has been done in value terms in USD for all the abovementioned segments.