DublinAnd January 25 2022 /PRNewswire/ – “Global Supported Farming Equipment Market: Equipment Focus, Application, Country Analysis – Analysis & Forecast, 2019-2026” report has been added to ResearchAndMarkets.com Show.
The global agricultural powered market has been evaluated in 57.39 billion dollars in 2021, which is expected to grow at a compound annual growth rate of 5.02% and reach 73.32 billion dollars by 2026.
power farming equipment
The powered agricultural equipment market includes a wide range of solutions such as tractors, combines, cultivators, sprinklers, and other equipment such as tillage equipment, lawn harvesting equipment, and baling machines. Farmers around the world are increasingly adopting powered agricultural equipment to improve yield, soil fertility, operational efficiency and profitability.
The agricultural subsidized market includes agricultural machinery manufacturers that provide vertically integrated agricultural equipment solutions.
The growth of the powered agricultural equipment market has been quite extensive. However, a large part of the population is still unaware of the many benefits of this equipment and the extent of government support for the agricultural industry. In the past two decades, farmers around the world have adopted next-generation agricultural technologies and techniques to increase crop yields, reduce wastage and ensure food security.
Impact of COVID-19
As the COVID-19 pandemic forces countries to close their borders, agricultural sectors face significant challenges. Even in regions and countries that are unlikely to face a food crisis, such as those in North America And EuropeThere is also a labor shortage as new challenges drive unskilled workers away.
The restrictions on cross-country travel due to the COVID-19 virus have also led to an immediate shortage of seasonal agricultural labor due to the COVID-19 pandemic. This has had a huge impact, especially in the ongoing harvest and the upcoming planting season around the world.
Power farming equipment by equipment type
Powered agricultural equipment includes a wide range of solutions such as tractors, sprayers, planters, combines, and other equipment such as balers and tillers. Farm tractors account for the largest market share, followed by combine harvesters, cultivators, and sprayers, in this order in 2021. The adoption of powered farming equipment is increasing among farmers to improve yields, operational efficiency, soil fertility, and profitability.
Power farming equipment by region
In 2021, Asia Pacific And Japan He led the supported global agricultural equipment market, with significant market concentration in India. Trends such as high population growth, increasing disposable income, and booming urbanization in Asia Pacific And Japan The region led to a strong development in consumption patterns among the population of the region. Hence, farmers in the region focus on increasing crop yields and getting year-round supplies of agricultural products to meet the increasing demand.
The major players in the market and competition summary
The companies identified in the report were chosen based on a selective group of players, primarily Tier 1 (owning 50-60% of the market), mid-segment players (comprising 30-40% of the shares), and small businesses and small start-ups (with a remaining 10-20% share), based on various factors such as product portfolio, annual revenue, market penetration, R&D initiatives, along with local and international presence in the supported agriculture industry.
Answer the main questions in the report
- What is the estimated size of the global powered agriculture market in terms of revenue for the forecast period 2022-2026, and what is the expected compound annual growth rate during the forecast period 2022-2026?
- What are the key trends, market drivers, and market opportunities related to Powered Agriculture and Equipment?
- What are the key restraints preventing the growth of the global Agricultural Equipment Market?
- What types of new strategies are being adopted by the existing market players to expand their market position in the industry?
- What are the competitive strength of the major players in the Agricultural Powered Equipment Market based on an analysis of recent developments, product offerings, and regional presence?
- How is the competitive benchmarking of the key agricultural power plant companies in the agricultural market based on market coverage analysis and market potential?
- What type of players and stakeholders operate in the Agricultural Equipment market ecosystem, and what is their significance in the global market?
- What are the leading associations and associations in the global Agricultural Equipment market, and what are their roles in the market?
- How is the regulatory landscape different in different regions for powered farming equipment?
Recent Developments in the Power Farming Equipment Market
- in a September 2021, Deere & Company has acquired the private Brazilian company in the field of sugarcane harvesters.
- in a September 2021Deere & Company has acquired bear-flag robots to accelerate autonomous technology.
- in a February 2021AeroVironment, Inc. It has acquired the Arcturus UAV, in order to accelerate and expand the UAV market segment.
- in a February 2021AeroVironment, Inc. It acquired ISG from Progeny Systems Corporation which works in artificial intelligence, machine learning, and autonomy technologies.
Market Report Coverage – Supported Agriculture Equipment
- Equipment type: tractor, combine harvesters, cultivators, sprayers, and other equipment
- Application: harvesting, sowing, planting, spraying, fertilizing and other applications
- North America:we, Canada, And Mexico
- Europe: GermanyAnd FranceAnd ItaliaAnd Spainand the rest-Europe
- United kingdom
- Middle east And Africa
- Asia Pacific: IndiaAnd JapanAnd South KoreaAnd Australiaand the rest-Asia Pacific
- South America: BrazilAnd Argentinaand the rest-South America
Market growth drivers
- Global food insecurity is on the rise
- The growing demand for independent equipment
- Increase government initiatives for sustainable food production
- High cost of initial investment
- Lack of technical knowledge and awareness
- Growing opportunities in developing countries
- Adoption of drones and robots in agriculture
- GIS integration in agricultural technology
- Product development and innovation
- market developments
- Mergers and Acquisitions
- Partnerships, joint ventures, collaborations and alliances
An overview of the main companies
- Derry & Co
- Kubota Corporation
- AeroVironment, Inc.
- CLAAS . group
- CNH Industrial NV
- ISEKI & CO., LTD.
- Mahindra & Mahindra Ltd.
- Robert Bosch GmbH
- Trimble Corporation
- SDF group
- Parrot SA
- Harvest automation
- PrecisionHawk Corporation
- Tirth Agro Technology Private Limited
- Kinsey Manufacturing
- Tractors & Agricultural Equipment Co., Ltd.
- Yanmar Holding Co., Ltd.
- ZETOR TRACTORS LIKE
For more information on this report, visit https://www.researchandmarkets.com/r/gkt9cj
Research and Markets
Laura Wood, director, mentor
For EST office hours, call +1-917-300-0470
For the US/Canada, call toll free +1-800-526-8630
For GMT office hours, call +353-1-416-8900
US Fax: 607-646-1904
Fax (outside the US): +353-1-481-1716
SOURCE Research & Markets