The global agricultural equipment market the size should go from 109.12 billion USD in 2020 and reach 166.4 billion USD in 2027, at a CAGR of 6.2% from 2021 to 2027. Agricultural practices include raising and growing plants and animals to provide fiber, food and medicine and provide other items needed for agriculture. improvement of life and survival. Farm equipment makes this job easier and cheaper for farmers. Farmers nowadays use modern, creative and technologically advanced agricultural machinery and attachments for efficient farming. To achieve better efficiency and performance, farmers or end users use efficient, flexible and versatile agricultural machinery, equipment and attachments such as tractor attachments, plows, seeders and combine harvesters.
Farm Equipment Market Dynamics:
Government subsidies and low interest rates offered to farmers on the purchase of agricultural equipment are key factors for the growth of the global market. The growing demand for autonomous agricultural equipment such as tractors and machinery is expected to gain traction globally.
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Growing adoption of modern technologies and equipment by farmers to improve agricultural yield and meet growing demand for food is expected to drive the growth of the market. Traditional farming methods such as tillage, plows and seed drills are expected to replace various advanced modern farming equipment. Advanced agricultural machinery such as hay and forage equipment, spraying equipment, crop irrigation and processing equipment, and harvesters are used in various processes to improve overall crop production and quality.
It is estimated that the growing demand for organic farming and organic agricultural products will create many opportunities in the global agricultural equipment market. However, shortage of labor in developed countries and large area of agricultural land is expected to fuel the demand for automatic agricultural equipment during the forecast period.
Impact of COVID-19 on the agricultural equipment market:
The Covid-19 pandemic has disrupted the manufacturing house market to work within safety guidelines, slowing production and most manufacturing houses have been temporarily closed. The global supply chain during the pandemic is disrupted, providing opportunities for local players. Developing countries have also seen a decline in agricultural equipment sales due to this pandemic.
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The report outlines the study of the Agricultural Equipment market based on equipment type and application.
On the basis of equipment type, the agricultural equipment market is segmented into-
- Trailers and trucks
- Tillage equipment
- Sowing and planting equipment
- Plant protection equipment
- Irrigation equipment
- harvesting equipment
- Hay and forage equipment
- Crop processing equipment
- Grain handling equipment
- Cutters, Shredders, Threshers, Pulverizers
On the basis of application, the agricultural equipment market is segmented into
- Agrarian development
Agricultural Equipment Market: Regional Outlook
The global agricultural equipment market has been segmented into five geographical regions, namely North America, Asia-Pacific, South America, Europe, Middle East and Africa. In 2020, Asia-Pacific held the largest share of the global agricultural equipment market, followed by North America and Europe. The European market is the fastest growing market for agricultural equipment demand over the forecast period owing to the growth in the rate of mechanization, which is driving the usage of tractors. Additionally, major developed agricultural economies such as Germany, UK, Italy, France, and Turkey are expected to contribute significantly to the region’s growth in the global agricultural equipment market in the coming years. coming.
Farm Equipment: Competitive Landscape –
Here are some of the main agricultural equipment companies in the market: AGCO Corporation, APV – Technische Produkte GmbH, Bellota Agrisolutions, CLAAS KGaA mbH, CNH Industrial NV
Manufacturers of agricultural equipment are Escorts Limited, ISEKI & Co., Ltd., JC Bamford Excavators Ltd. (JCB) (UK), Deere & Company (USA), KUBOTA Corporation (Japan), Mahindra & Mahindra Limited (India), Alamo Group Incorporated, Bucher Industries AG, Valmont industries Incorporations.
- The Open-Source Agriculture movement involves many programs and organizations that cooperate and teach farmers how to build, expand, repair and restore their equipment and tools and manage farming operations.
- The Fendt brand of AGCO Corporation introduced the Momentum seeder to the North American row crop production market in February 2020. It is designed to help cope with tough planting conditions.
The Agricultural Equipment Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of industry/regional outlook with market players in the respective segment and region/country. The information concluded in the report includes the entries.
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Agriculture Equipment Market Report Covers Comprehensive Analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent analysis
- Competition landscape
- More than 15 company profiles
Regional Agricultural Equipment Market Analysis Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Agricultural Equipment Market: Target Audience
- Agricultural equipment manufacturers
- Distributors and suppliers of agricultural equipment
- Trade publications and magazines
- Government authorities, associations and organizations