South Korea Farm (Agricultural) Equipment Market was valued at USD 5 Billion in 2022 and is projected to reach USD 7 Billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030.
The South Korea Farm (Agricultural) Equipment Market is experiencing significant growth, driven by the country's increasing demand for high-efficiency farming solutions and technological advancements. As agriculture in South Korea continues to modernize, farmers and agribusinesses are looking for advanced equipment to enhance productivity, reduce labor costs, and improve overall operational efficiency. The need for reliable, cost-effective, and innovative farm equipment is at an all-time high, positioning the agricultural machinery sector as a critical driver of the nation's agricultural development.
South Korea's agricultural equipment market includes various machinery types such as tractors, harvesters, plows, planters, irrigation systems, and more. The country’s industrial requirements are heavily influenced by a growing trend toward automation in farming. For example, autonomous tractors and drones are becoming essential tools in precision agriculture, allowing for greater control over planting, fertilization, and harvesting processes. With these advanced systems, South Korean farmers can operate with greater efficiency, maximizing land use and minimizing waste.
The demand for these high-tech solutions is primarily driven by the evolving needs of industries such as food production, processing, and export. South Korea is known for its technologically advanced infrastructure, and this extends to its agricultural sector. Innovations like smart farming technologies, including IoT-enabled devices, are gaining popularity in the market, offering real-time data on soil conditions, crop health, and irrigation needs. As industries push for more sustainable practices, this shift towards technology-powered equipment is expected to grow.
Farmers are also increasingly interested in eco-friendly agricultural equipment. The rise of electric-powered machinery, alongside more efficient fuel consumption technologies, supports the country’s commitment to reducing carbon emissions. These advancements meet both regulatory requirements and the evolving consumer preferences for sustainably sourced products.
As demand for farm (agricultural) equipment continues to rise, it is clear that South Korea is moving towards an era of technologically-driven agriculture. The market is not just focused on traditional machinery but is evolving to meet the needs of a dynamic and tech-savvy agricultural community.
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AGCO
CLAAS
CNH Industrial
John Deere
Kubota
SAME Deutz-Fahr(SDF)
Kuhn
Kverneland
Mascar
MaterMacc
Alamo
Argo
Amazone H. Dreyer
Bucher
Daedong
Escorts
Mahindra & Mahindra
Eicher Tractors
Angad Tractors
PreetTractors
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Farm (Agricultural) Equipment Market
Tractors
Harvesting Equipment
Plowing Equipment
Irrigation Systems
Tillage Equipment
Planting Equipment
Fertilizing Equipment
Crop Protection Equipment
Specialty Farm Equipment
Diesel-powered
Electric-powered
Gasoline-powered
Hydraulic-powered
Solar-powered
Crops
Livestock
Aquaculture
Mixed Farms
Manual Equipment
Semi-automated Equipment
Fully Automated Equipment
Precision Agriculture Technology
Direct Sales
Online Retailers
Traditional Retail Stores
Rental Services
Wholesale Distributors
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Farm (Agricultural) Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Farm (Agricultural) Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Farm (Agricultural) Equipment Market, By Type
6. South Korea Farm (Agricultural) Equipment Market, By Application
7. South Korea Farm (Agricultural) Equipment Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Farm (Agricultural) Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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