CHICAGO, UNITED STATES, July 10, 2023/EINPresswire.com/ — The global ๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐ฆ๐๐ซ๐ค๐๐ญ is witnessing a rise in revenue from ๐๐$ ๐๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐ to reach ๐๐$ ๐๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐, registering a ๐๐๐๐ ๐จ๐ ๐.๐% during the forecast period from ๐๐๐๐ ๐ญ๐จ ๐๐๐๐. In terms of volume, the market is growing at a ๐๐๐๐ ๐จ๐ ๐.๐% during the same period.
๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/agriculture-equipment-market
The amount of food produced globally has been gradually increasing, but this growth hasn’t been enough to keep up with the demand. Thus, new agricultural equipment and methods must be adopted in order to meet the FAO’s goal of boosting global agricultural production by 70% by 2050.
The rising global population is driving the demand to produce more food. This demand can be satisfied by increasing farm cultivation efficiency and implementing automatic and semiautomatic agricultural gear. Due to this, there is a greater demand for farm machinery and equipment, which, in turn, is causing the market to rise. In order to feed the expanding population, the FAO estimates that world agricultural output must rise by 70% by the year 2050. According to World Bank research, the demand for food and agricultural goods is likely to rise by 50% by 2030. As a result, modern agriculture practices, such as precision farming, automation, and data-driven decision-making, are steadily becoming more prevalent.
Governments worldwide are also launching programs to promote the quick uptake of agricultural mechanization. Thus, this will boost the demand for agricultural tractors and harvesters. In addition, the forestry sector is progressively transporting diverse items, including recently cut wood, utilizing agriculture equipment. As a result, it is predicted that the forestry industry will drive the market for agricultural equipment in the future.
Precision farming has become more widely used over the years owing to the need to boost crop productivity and cut costs. Thus, this trend will increase the demand for agricultural machinery that can support precision farming techniques. As per the report of Astute Analytica, the Agritech market is anticipated to register a CAGR of 19.2% and attain US$ 64 billion in sales by 2031.
The use of precision farming techniques has also raised the demand for equipment with variable rate technology (VRT). Based on real-time data, VRT equipment can modify the rate at which inputs, such as fertilizers and insecticides, are applied. Farmers can increase agricultural productivity in this way while minimizing waste and adverse environmental effects.
๐๐๐ซ๐ฏ๐๐ฌ๐ญ๐ข๐ง๐ ๐๐ง๐ ๐๐ก๐ซ๐๐ฌ๐ก๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ ๐๐% ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
The harvesting and threshing equipment generate over 57% of the market’s estimated revenue. This will ensure that farmers can increase productivity and minimize physical effort when harvesting due to harvesting and threshing equipment. Additionally, the implementation of cutting-edge technology like autonomous harvesters has further fueled the expansion of this market.
๐๐-๐๐๐๐๐ ๐๐จ๐ฐ๐๐ซ ๐๐ฎ๐ญ๐ฉ๐ฎ๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐๐ง๐๐ซ๐๐ญ๐ ๐๐ฏ๐๐ซ ๐๐% ๐จ๐ ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
The 71-130HP power output segment is likely to contribute over 44% of the revenue share. This is due to the fact that small- to medium-sized farms frequently use mid-range tractors, which are in high demand. Farmers frequently choose mid-range tractors because they provide a good blend of price, performance, and power. Farmers looking to reduce manual labor and increase efficiency have increased demand for mid-range tractors owing to the trend toward mechanization in agriculture.
๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ๐ฌ ๐๐ข๐ ๐ก๐ฅ๐ฒ ๐๐ซ๐๐๐๐ซ ๐๐ฐ๐จ-๐๐ก๐๐๐ฅ ๐๐ซ๐ข๐ฏ๐ ๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐ฎ๐ ๐ญ๐จ ๐ญ๐ก๐๐ข๐ซ ๐๐จ๐ฌ๐ญ ๐๐๐๐๐๐ญ๐ข๐ฏ๐๐ง๐๐ฌ๐ฌ
The two-wheel drive segment to attain a revenue share of 75%. This is due to the fact that two-wheel drive equipment is more cost-effective and ideal for usage on smaller farms. Two-wheel drive vehicles are also simpler to manage in smaller fields, which makes them a common option for farmers with limited space.
๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ ๐๐๐จ๐ฎ๐ญ ๐๐% ๐จ๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ค๐๐ญ
The Asia Pacific region dominates the global market, accounting for more than 70% of the market’s revenue share, according to the regional study of the worldwide agricultural equipment market. This is a result of several things, including the area’s dense population and rising food consumption.
Some of the most populated nations in the world, like China and India, which have sizable agricultural industries, are located in the Asia Pacific area. The region’s expanding population has increased the need for food, which is fueling the demand for cutting-edge agricultural machinery.
Additionally, the Asia Pacific area has seen a growth in the adoption of precision agriculture technologies, which has increased demand for agricultural machinery. In a place with limited arable land, these technologies help farmers maximize agricultural yield while lowering waste. Government subsidies have also contributed to an increase in the demand for agricultural equipment in nations like China and India, making it simpler for farmers to invest in cutting-edge technology.
๐๐จ๐ฉ ๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐๐ฉ๐ญ๐ฎ๐ซ๐๐ ๐๐๐จ๐ฎ๐ญ ๐๐% ๐จ๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ
The global agriculture equipment market is extremely competitive, with many businesses providing a variety of items to satisfy the demands of farmers everywhere. However, a small number of significant businesses dominate the market, and in 2022, the top five players’ combined market share was almost 55%.
According to Astute Analytica, with a sales share of nearly 23%, Deere & Company, often known as John Deere, is the dominant company in the market. The company has been able to maintain its leadership position in the market thanks to its strong brand reputation, cutting-edge technologies, and broad distribution network.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐๐จ๐ซ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/industry-report/agriculture-equipment-market
Other key competitors with a sizable market share in the agriculture equipment market include Kubota Corporation, CLAAS KGaA MBH, CNH Industrial N.V., and China National Machinery Industry Corporation Ltd. These businesses also have a strong sense of brand identity and provide the agriculture industry with a wide range of goods and services.
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐๐๐ข๐ง๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โข AGCO Corporation
โข Bellota
โข China National Machinery Industry Corporation Ltd.
โข CLAAS KGaA MBH
โข CNH Industrial N.V.
โข Deere & Company
โข Escorts Limited
โข Horsch Maschinen GmbH
โข J.C. Bamford Excavators Ltd.
โข Kubota Corporation
โข Mahindra & Mahindra Ltd.
โข MARUYAMA MFg., Co.Inc.
โข Maschio Gaspardo S.P.A.
โข Mater Macc S.p.A.
โข Morris Industries Ltd.
โข SDF S.p.A.
โข TAFE
โข Valmont Industries, Inc.
โข Other Prominent Players
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ฎ๐ญ๐ฅ๐ข๐ง๐
๐๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐จ๐๐ฎ๐ฌ๐๐ฌ ๐จ๐ง ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐ฒ๐ฉ๐, ๐๐จ๐ฐ๐๐ซ ๐๐ฎ๐ญ๐ฉ๐ฎ๐ญ, ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ, ๐๐ซ๐ข๐ฏ๐ ๐๐ฒ๐ฉ๐, ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง, ๐๐ง๐ ๐๐๐ ๐ข๐จ๐ง.
๐๐ฒ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐ฒ๐ฉ๐
โข Soil Cultivation Machinery
o Cultivator
o Cultipacker
o Plough
o Rotary Tiller
o Harrow
o Others
โข Planting Machinery
o Seed Drill
o Broadcast Seeder
o Seed cum fertilizer Drill
o Fertilizing & Pest Control Machinery
o Manure Spreader
o Slurry Tank
o Sprayer
โข Irrigation Equipment
o Centrifugal Pumps
o Sprinklers
o Others
โข Harvesting & Threshing Equipment
o Combine Harvester
o Sickle
o Mower
o Reaper
o Threshers
o Tractors
o Others
๐๐ฒ ๐๐จ๐ฐ๐๐ซ ๐๐ฎ๐ญ๐ฉ๐ฎ๐ญ
โข <30 HP
โข 31-70 HP
โข 71-130 HP
โข 131-250 HP
โข >250 HP
๐๐ฒ ๐๐ซ๐ข๐ฏ๐ ๐๐ฒ๐ฉ๐
โข Two-Wheel Drive
โข Four-Wheel Drive
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
๐๐๐ง๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ & ๐๐๐๐ ๐๐๐ ๐๐ซ๐๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง
โข Sowing & Planting
โข Weed Cultivation
โข Plant Protection
โข Harvesting & Threshing
โข Post-Harvest & Agro Processing
๐๐ฒ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ
โข OEM
โข Aftermarket
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง
โข North America
o The U.S.
o Canada
o Mexico
โข Europe
o The UK
o Germany
o France
o Italy
o Spain
o Poland
o Russia
o Belgium
o Rest of Europe
โข Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o ASEAN
๏ง Thailand
๏ง Singapore
๏ง Vietnam
๏ง Indonesia
๏ง Malaysia
๏ง Philippines
๏ง Rest of ASEAN
โข Rest of Asia Pacific
Middle East & Africa (MEA)
โข UAE
โข Saudi Arabia
โข South Africa
โข Rest of MEA
South America
โข Argentina
โข Brazil
โข Rest of South America
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/agriculture-equipment-market
๐๐๐จ๐ฎ๐ญ ๐๐ฌ๐ญ๐ฎ๐ญ๐ ๐๐ง๐๐ฅ๐ฒ๐ญ๐ข๐๐:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
Twitter
LinkedIn
