Global Farms Equipment Market, By Power Output (Farm Tractor and Autonomous Tractor), Farm Tractor Drive Type (Four-Wheel and Two-Wheel), Equipment Type (Balers, Combines and Sprayers), Function (Harvesting and Threshing, Sowing and Planting, Ploughing and Cultivating, Plant Protection and Fertilizing and Others), Rental Equipment Type (Combines, Tractors and Others), Country (U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Farm Equipment Market
Increased focus on agriculture and farming techniques and schemes by the government is a major growth driving force for the farm equipment market. Data Bridge Market Research analyses that the farm equipment market would exhibit a CAGR of 5.34% for the forecast period. On the basis of current trends and insights, the current farm equipment market value i.e. USD 132.2 billion will climb up to USD 200.54 billion by the year 2028.
Farm equipment refers to all the technology and machinery that is required or demanded by the farmers to undertake agricultural activities. This equipment or machinery helps the farmers to generate greater profits as they help to increase the output of the farm and subsequently improve the quality of the produce. This equipment is easy to use and saves the farmers a lot of time. Farmers result in getting greater output by using equipment such as a tractor for transportation purposes. The equipment is also used for other agricultural purposes such as levelling, plowing, tilling, disking among others.
Increasing demand for tractors equipped with cutting-edge technology will result in increasing the farm equipment market value. Developing agricultural infrastructure in developing countries is the result of increased demand and adoption of farm equipment. Lack of agricultural labor and lack of labor at low costs paves the way for more opportunities for the farm equipment market. Regular schemes and support offered by the government for the growth of the agricultural sector is also a growth contributor.
High prices of farm equipment may prove to be a hindrance in the way of the growth of the market. Unpredictable weather may also fail the purposes of purchased farm equipment. So, one may in the future become hesitant to invest more in the same. Excessive use of farm equipment will reduce the requirement for labor. This will result in many of them turning jobless and make their survival difficult.
This farm equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on farm equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Farm Equipment Market Scope and Market Size
The farm equipment market is segmented on the basis of power output, farm tractor drive type, equipment type, and rental equipment type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of power output, the farm equipment market is segmented into farm tractor and autonomous tractor. Farm tractors are further sub-segmented into less than 30 horsepower, 31-70 horsepower, 71-130 horsepower, 131-250 horsepower and greater than 250 horsepower. Autonomous tractors are also bifurcated into less than 30 horsepower, 31-100 horsepower and greater than 100 horsepower.
- On the basis of farm tractor drive type, the farm equipment market is segmented into four-wheel and two-wheel.
- On the basis of equipment type, the farm equipment market is segmented into balers, combines and sprayers.
- The farm equipment market can also be segmented on the basis of function into harvesting and threshing, sowing and planting, ploughing and cultivating, plant protection and fertilizing, others.
- The farm equipment market is segmented on the basis of rental equipment type into combines, tractors and others.
Global Farm Equipment Market Country Level Analysis
The global farm equipment market is analysed and market size insights and trends are provided by country, power output, farm tractor drive type, equipment type, and rental equipment type as referenced above.
The countries covered in the farm equipment market report are U.S., Canada and Mexico in North America, Peru, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific will project the largest and the highest growth rate owing to the increased adoption of farm equipment to boost up the output, improve the quality of produce and improve the share of agricultural sector in the economy. Increased government policies to improve the agricultural mechanism especially in the developing countries will further propel the region’s share in the global farm equipment market.
The country section of the farm equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Farm Equipment Market Share Analysis
The farm equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to farm equipment market.
The major players covered in the farm equipment market report are Alamo Group Inc., AGCO Corporation., Argo Tractors S.p.A., AMAZONEN-WERKE H. Dreyer GmbH & Co. KG, Bucher Industries AG, CLAAS KGaA mbH, CNH Industrial N.V., daedong, Deere & Company., Escorts Limited., ISEKI & CO., LTD., KUBOTA Corporation., Kverneland AS, Mahindra & Mahindra Ltd., NETAFIM, SDF S.p.A., Tractors and Farm Equipment Limited, YANMAR HOLDINGS CO., LTD., ZETOR TRACTORS a.s. and Solis. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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