APAC region is the dominant market for farm equipment and is estimated to reach $107.58 billion at a CAGR of 7% from 2018 to 2023
HYDERABAD, TELANGANA, INDIA, August 20, 2018 /EINPresswire.com/ — In the Report “Farm Equipment Market: By Type (Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Hay and Forage Equipment, Crop processing Equipment, Seeding Equipment, Grain Handling Equipment, Cutters and Shredders, Sprayers ); By Phase (Land Development, Sowing, Planting, Cultivation, Harvesting, Threshing, Others); By Application (Agri Equipment, Construction Equipment, Chemical Applications, Financing Equipment, Material Handling Equipment, Snow Removal Equipment, Property Maintenance Equipment); By Geography – Forecast (2018-2023)”, published by IndustryARC, the market referred as Agriculture Equipment, Agriculture Machinery or Farm Machinery increasing demand for higher yield of food & industrial crops growing importance of food safety & plant protection are key factors for equipment growth.
Asia-Pacific with major share in the Farm Equipment Market:
Globally, APAC region is the dominant market for farm equipment and is estimated to reach $107.58 billion at a CAGR of 7% from 2018 to 2023. Global players are heading towards the growth engines of the market into the regions of India and China, to reap the benefits from increasing mechanization. Markets of North America and Europe have reached maturity stage and are estimated to grow at 4.6% CAGR and 3.4% CAGR, respectively for the period under review. At 2017, the Brazilian farm equipment market was valued at $11.70 billion and holds huge growth prospects after China and India. Sub-African region still remains under-mechanized, where most of the farming practices are carried out manually.
Selected Equipment Analysis done in the full Report:
The crop production cycle consists of five segments, namely Land development, Planting and Sowing, Cultivation, Harvesting & Threshing and Post-harvesting. Generally, each phase involves an exclusive set of operations and equipment. In the mentioned field of production tractor is the leading farm equipment type in the global farm equipment market. In agriculture equipment, tractor holds 36% of the market value. The farm tractor market has strong, constant growth and is predicted to take a hold of $82.23 billion at CAGR of 5.4% in 2023. Harvesting machinery segment was valued at $26.05 billion in 2017 and is forecast to be the fastest growing market which is poised to reach $41.61 billion by 2023. Increasing the application of micro irrigation methods across the globe fuels the irrigation equipment market. This is estimated to exhibit a healthy growth rate of 7.2% CAGR during 2018-2023. Increasing adoption of no-till farming in Americas inhibits the market growth for tillage equipment.
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Excerpts on Market Growth Factors:
Latest technological advancement includes integration of big data, with precision agriculture, low-sized sensors for remote sensing are providing the farm machinery equipped with precision systems. This becomes one of the considerable parameters for purchasing particular equipment.
Improper handling, transport and processing of fruits, vegetables and grains, more than 3% of actual yield is lost annually. Growing concern the agriculture space and increasing government emphasis on restructuring food supply channels. There will be a positive change in the food supply in the coming years.
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Key players of the Farm Equipment Market:
Key innovators in the farm equipment market include John Deere (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), Agco Corporation (U.S.) and Iseki Co, Ltd. (Japan). Deere & Company obtained a U.S. patent (8909389) a patent for its harvester with the sensor mounted on an aircraft. This technology has been developed for monitoring a field of rice crop for more effective applications of fertilizers. The same way the company has obtained another U.S patent (8897943) for its battery electric hybrid drive for combine harvesters. The players are working on different levels of agriculture techniques.
Farm Equipment Market report is segmented as below:
The Global Farm Equipment Market study across various end user industries is incorporated in the report
A. Farm Equipment Market – By Type
1. Trailers and Trucks
3. Tillage Equipment
4. Planting Equipment
5. Irrigation Equipment
6. Harvesting Equipment
7. Hay and Forage Equipment
8. Crop Processing Equipment
9. Plant Protection Equipment
B. Farm Equipment Market – By Phase
1. Land Development
2. Sowing and Planting
4. Harvesting and Threshing
5. Post Harvesting
C. Farm Equipment Market by Geography (covers 10+ countries)
D. Farm Equipment Market Entropy
Companies Citied / Interviewed
1. Alamo Group, Inc.
2. Escorts Group
3. Class Kgaa Mbh
4. Kverneland Group
5. Netafim Ltd
6. Zetor Tractors A.S
7. Argo S.P.A
8. Mahindra & Mahindra Limited
9. Bucher Industries Ag
10. Yanmar Co, Ltd.
11. Same Duetz-Fahr S.P.A
12. Exel Industries
13. Tractors And Farm Equipment Limited
14. Daedong Industrial Company Ltd
15. Amazone H. Dreyer Gmbh & Co. Kg
16. Company 16+
A. Precision Farming and Tools Market
B. Precision Agriculture Market
What can you expect from the report?
The Farm Equipment Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Farm Equipment Market segment?
Response: Yes, we do have separate reports as mentioned below:
1. Americas Farm Equipment Market (2018-2023)
2. Asia Pacific Farm Equipment Market (2018-2023)
3. Europe Farm Equipment Market (2018-2023)
4. Type Farm Equipment Market (2018-2023)
5. Phase Farm Equipment Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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Source: EIN Presswire