CHICAGO, UNITED STATES, July 10, 2023/EINPresswire.com/ — The global 𝐚𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 is witnessing a rise in revenue from 𝐔𝐒$ 𝟐𝟓𝟕.𝟎𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 to reach 𝐔𝐒$ 𝟓𝟏𝟗.𝟒𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, registering a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟖.𝟔% during the forecast period from 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟏. In terms of volume, the market is growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟎% during the same period.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- 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.
𝐇𝐚𝐫𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐓𝐡𝐫𝐞𝐬𝐡𝐢𝐧𝐠 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐭𝐨 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝟓𝟕% 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
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.
𝟕𝟏-𝟏𝟑𝟎𝐇𝐏 𝐏𝐨𝐰𝐞𝐫 𝐎𝐮𝐭𝐩𝐮𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐎𝐯𝐞𝐫 𝟒𝟒% 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
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.
𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐇𝐢𝐠𝐡𝐥𝐲 𝐏𝐫𝐞𝐟𝐞𝐫 𝐓𝐰𝐨-𝐖𝐡𝐞𝐞𝐥 𝐃𝐫𝐢𝐯𝐞 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐃𝐮𝐞 𝐭𝐨 𝐭𝐡𝐞𝐢𝐫 𝐂𝐨𝐬𝐭 𝐄𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞𝐧𝐞𝐬𝐬
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.
𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝐀𝐛𝐨𝐮𝐭 𝟕𝟎% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
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.
𝐓𝐨𝐩 𝟓 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐂𝐚𝐩𝐭𝐮𝐫𝐞𝐝 𝐀𝐛𝐨𝐮𝐭 𝟓𝟓% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭
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.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- 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.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
• AGCO Corporation
• Bellota
• China National Machinery Industry Corporation Ltd.
• CLAAS KGaA MBH
• CNH Industrial N.V.
• Deere & Company
• Escorts Limited
• Horsch Maschinen GmbH
• J.C. Bamford Excavators Ltd.
• Kubota Corporation
• Mahindra & Mahindra Ltd.
• MARUYAMA MFg., Co.Inc.
• Maschio Gaspardo S.P.A.
• Mater Macc S.p.A.
• Morris Industries Ltd.
• SDF S.p.A.
• TAFE
• Valmont Industries, Inc.
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐓𝐲𝐩𝐞, 𝐏𝐨𝐰𝐞𝐫 𝐎𝐮𝐭𝐩𝐮𝐭, 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥, 𝐃𝐫𝐢𝐯𝐞 𝐓𝐲𝐩𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
𝐁𝐲 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐓𝐲𝐩𝐞
• Soil Cultivation Machinery
o Cultivator
o Cultipacker
o Plough
o Rotary Tiller
o Harrow
o Others
• 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
• Irrigation Equipment
o Centrifugal Pumps
o Sprinklers
o Others
• Harvesting & Threshing Equipment
o Combine Harvester
o Sickle
o Mower
o Reaper
o Threshers
o Tractors
o Others
𝐁𝐲 𝐏𝐨𝐰𝐞𝐫 𝐎𝐮𝐭𝐩𝐮𝐭
• <30 HP
• 31-70 HP
• 71-130 HP
• 131-250 HP
• >250 HP
𝐁𝐲 𝐃𝐫𝐢𝐯𝐞 𝐓𝐲𝐩𝐞
• Two-Wheel Drive
• Four-Wheel Drive
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
𝐋𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 & 𝐒𝐞𝐞𝐝 𝐁𝐞𝐝 𝐏𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧
• Sowing & Planting
• Weed Cultivation
• Plant Protection
• Harvesting & Threshing
• Post-Harvest & Agro Processing
𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥
• OEM
• Aftermarket
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
o The U.S.
o Canada
o Mexico
• Europe
o The UK
o Germany
o France
o Italy
o Spain
o Poland
o Russia
o Belgium
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o ASEAN
Thailand
Singapore
Vietnam
Indonesia
Malaysia
Philippines
Rest of ASEAN
• Rest of Asia Pacific
Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
South America
• Argentina
• Brazil
• Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/agriculture-equipment-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Astute Analytica
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