Agricultural equipment is the machinery used for ease in farming. Agricultural equipment is utilized in several phases of farming such as planting, harvesting, threshing and many other farming processes. Agricultural equipment is the crucial equipment and plays a vital role in various functions according to the consumer needs. The advance equipment is replacing the traditional methods owing to highly innovated and advanced products.
The report provides a comprehensive view of the agricultural equipment market. The report explains the detailed value chain analysis for agricultural equipment market. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the agricultural equipment market has also been included. The study encompasses a market attractiveness analysis, wherein type and process segments are benchmarked based on their market size, growth rate, and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
Increasing population which has led to the high demand of food and shrinkage of arable land drives the agricultural equipment market owing to high productivity offered as a result of the use of this equipment. The introduction of new advance equipment for farming has led to high productivity, low efforts and low man power which in turn stimulate the growth of the market. However, the high cost of this equipment may hamper the growth of agricultural equipment market. Nevertheless, focus on technological advancement from the major players coupled with rising demand from the emerging economies is likely to accelerate the growth of the market in the forecast period.
Some of the widely used equipment for farming are power spray, tractor, thrasher, combine harvester, rotavator, zero till seed drill, rice transplanter, power tiller, drip irrigation equipment, multi-crop planter, self-propelled vertical conveyer reaper, power weeder, laser land leveler, sprinkler irrigation equipment and power spray. Various equipment is utilized for the different agricultural process, which includes sowing & planting, harvesting & threshing, land development, tillage, seed bed preparation, post-harvest & agro-processing, weed inter cultivation and plant protection. The tractor is the major equipment segment utilized in Asia Pacific.
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Asia Pacific is considered to be the most prominent market for agricultural equipment market and expected to gain attraction during the forecast period. This mainly contributes to rapidly developing agricultural sector particularly in India and China and shifting of major players in India. North America and Europe are anticipated to experience moderate growth in next few years owing to saturation of the market. Latin America is likely to specter lucrative growth owing to increasing disposable income and high demand for agricultural products. The Middle East and Africa is projected to show decent growth in the coming years due to increasing awareness and improving the standard of living.
Mahindra & Mahindra Limited, CNH Industrial N.V., J.C. Bamford Excavators Limited, AGCO Corp., Deere & Company, Kubota Corporation, Iseki & Co., Ltd and John Deere among others are some of the leading profiles in the agricultural equipment market.