Agricultural Equipment Market will reach USD 212.3 billion by 2025. The reports forecast the agriculture equipment market by equipment type, application and region. It highlights COVID-19 impact on the agriculture equipment industry.

Description

Agricultural Equipment Market: by Equipment Type (Trailers and Truck, Tillage Equipment, Planting and Seeding Equipment, Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Hay and Forage Equipment, Crop processing Equipment, Grain Handling Equipment, Cutters, threshers, Shredders and Sprayers), by Application (Land Development, Sowing, Planting, Cultivation, Harvesting, and Threshing)– Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)  

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Agriculture Equipment Market Introduction

Agricultural practices include breeding and land cultivation of plants and animals to provide fibre, food, and medicine and supply other items necessary for life enhancement and survival. Agricultural equipment makes these work easier and less expensive for farmers. Nowadays, farmers utilizing modern, creative, and state-of-the-art farming machines and attachments for efficient farming. To achieve improved efficiency and better performance, farmers or end user using efficient, flexible, and versatile farming machinery, equipment, and accessories such as tractors attachments, plough, seeders, and combines. 

Agricultural Equipment: Market Dynamics

•  Government subsidies and low-interest rate offered to farmers on procurement of agriculture equipment is one of the key factors for the growth of the global market
  •    Increasing demand for standalone agriculture equipment such as tractors is expected to gain traction in the global market 
  •    Growing demand for organic farming as well as organic farm products is estimated to create lots of opportunities in the global agricultural equipment market
  •    Moreover, shortage of labour in the developed countries and the large area of agricultural land is expected to fuel the demand for automatic agricultural equipment over the forecast period

Impact of COVID-19 on the Agricultural Equipment Market

The Covid-19 pandemic has disrupted the manufacturing houses' market as to work under the safety guidelines, which makes production slow & most of the manufacturing houses as been temporarily shut down. The global supply chain during the pandemic is disturbed, which gives opportunities to the local players. The developing countries have also seen a dip in agriculture equipment sales due to this pandemic. 

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Agricultural Equipment Market: Scope of the Report

The report outlines the study of the agricultural equipment market on the basis of equipment type, application.

Based on the equipment type, the agricultural equipment market is segmented into-

•  Trailers and Trucks
  •    Tillage Equipment
  •    Seeding and Planting Equipment
  •    Tractors
  •    Fertilizing
  •    Plant Protection Equipment
  •    Irrigation Equipment
  •    Harvesting Equipment
  •    Hay And Forage Equipment
  •    Crop Processing Equipment
  •    Grain Handling Equipment
  •    Cutters, Shredders, Threshers, Sprayers

Based on the application, the agricultural equipment market is segmented into-

•  Land Development
  •    Sowing
  •    Planting
  •    Cultivation
  •    Harvesting
  •    Threshing

Agricultural Equipment: Regional Lookout

The global agriculture equipment market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa. In 2019, Asia Pacific held the largest share in the global agriculture equipment market, followed by North America and Europe. Europe market is the fastest-growing market in demand for the agriculture equipment during the forecast period due to the growth in mechanization rate, boosting tractors' usage. Moreover, the presence of important developed agriculture economies such as Germany, the UK, Italy, France, and Turkey are expected to be significant contributors to the region's growth in the global agriculture equipment market in the coming years. 

Agricultural Equipment: Competitive Landscape

These are some of the leading Agricultural Equipment companies in the market: AGCO Corporation, APV – Technische Produkte GmbH, Bellota Agrisolutions, CLAAS KGaA mbH, CNH Industrial N.V.

The Agricultural Equipment manufacturers are Escorts Limited, ISEKI & Co., Ltd., J C Bamford Excavators Ltd. (JCB) (UK), Deere & Company (US), KUBOTA Corporation (Japan), Mahindra & Mahindra Limited (India), Alamo Group Incorporated, Bucher industries AG, Valmont industries Incorporations.

•  The Open Source Agriculture movement involves numerous programs and organizations which come together in cooperation and teach farmers how to build, develop, repair and restore their equipments and tools and manage agricultural operations.

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