Global Powered Agriculture Equipment market was valued US$ X.XX Bn 2019 and is expected to reach XX Bn unit by 2027, at a CAGR of XX% during a forecast period.
Agricultural equipment is machinery used in farming or other agriculture. Many types of agricultural equipment like, from hand tools and power tools to tractors and the countless types of farm implements that they tow or function. Diverse arrays of equipment are used in both organic and nonorganic farming.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The global agricultural industry has registered a massive modification because of high demand for efficient powered agriculture equipment. Climbing world population and the successive rise in global food demand together with concentrating on agricultural workforce have resulted in growing concerns to enhance farm yield and increase the demand for farm mechanization across the world. Rapid implementation of powered agriculture equipment, farmers are able to boost productivity by increasing inputs and efficiently manage their farm enterprises. The introduction of innovative equipment has resulted in reduced energy consumption and overall cost-effective processes owing to their more precise and resource-efficient approach. Hence, the powered agriculture equipment industry is predicted to progress attributed to the more efficient and convenient for smart farming solutions than the traditional methods. Farm agriculture market has registered XX Bn share in 2019 and is expected to boost the powered agriculture equipment market in coming years.
However, lack of interest to invent in the product due to high cost and problem in installation technique is considered as one of the major factor to hinder the agriculture equipment market during forecast years.
Powered Agriculture Equipment Market Segment analysis:
In terms of type segment, tractor segment is expected to account for largest share of the agriculture equipment market. Tractor market value was registered XX Bn with estimated CAGR of 0.23% in 2019 which is expected to drive the market growth. Tractors are the primary choice of almost every small and large scale farmers. Large unit of tractors are sold during 2019. High scale of sale are associated to their multifunction, like transporting product during rainy season considered as one of the big challenge, factors like this attracting the investor to invest in tractor market will boost the agriculture equipment market growth during forecast period.
Powered Agriculture Equipment Market Regional Analysis:
Regionally, Asia pacific is expceted to dominate the market growth during forecast period with estimated CAGR of 7.27% during forecast period. However, by size Europe and North America are expected to command the market thanks to penetration of latest technologies, large size farms, and governments subsidies. Contradictory, APAC is region where world’s largest population resides, due the small land holding and farmers in India, bangladesh and China growth has some limitation, which is analysed in the report in details.
The report has focused on each country in region with differnet perspective and there is no homogenious market type for the agriculture equipments.
In 2019, Mahindra has introduced two precision farming techniques – The Smart Fertilizing solution & The Smart Spraying solution. M&M launched DiGiSENSE, its embedded connected tractor platform, which empowers customers to track, receive alerts and monitor the health of their tractor anytime, anywhere. Mahindra is also showcasing its aftermarket asset tracking & optimization tool ‘Smart Track’. This is an AI-powered telematics solution designed to enhance efficiency and profitability in farm fleet management.
AGCO, which includes Massey Ferguson, Fendt, Valtra and other farm machinery brand-names, estimated for revenues approaching $10 billion in 2018. AGCO combining with Fendt, has launched several events. A recent representation is towed plant protection sprayer, Fendt Rogator 300, and the self-driving Fendt Rogator 600 marking their sale of 100 units. AGCO Corporation received seven AE50 Awards from the American Society of Agricultural and Biological Engineers (ASABE) in 2019 and AGCO/Fendt wins the AE50 Award in US for best new Fendt IDEAL large combine.
The objective of the report is to present a comprehensive analysis of the Global Powered Agriculture Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Powered Agriculture Equipment Market dynamics, structure by analyzing the market segments and project the Global Powered Agriculture Equipment Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Powered Agriculture Equipment Market make the report investor’s guide.
Scope of Powered Agriculture Equipment Market
Global Powered Agriculture Equipment market, By Type
• Combine/Combine Harvester
• Seed Drill
• Soil Preparation & Cultivation Equipment
Global Powered Agriculture Equipment market, By Application
• Forestry Industry
• Fishery Industry
• Animal Husbandry
Global Powered Agriculture Equipment market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Powered Agriculture Equipment Market
• Mahindra & Mahindra
• CNH Industrial
• Industry of Machinery and Tractors (IMT)
• John Deere
• Minsk Tractor Works
• Claas Group
• Art's Way
• Iseki & Company
• Mirrlees Blackstone
• SDF Group
• Alamo Group
• Escorts Group
• Same Deutz-Fahr Group
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
Contact: +919607065656 / +919607195908
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