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The global planting equipment market size has the potential to grow by USD 4.28 billion during 2020-2024

Michele Catinari — Fri, 03 Apr 2020 21:00:38 +0000

The global planting equipment market size has the potential to grow by USD 4.28 billion during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period. according to this Technavio report

Market Competitive Analysis

The planting equipment market is currently fragmented. The degree of fragmentation will remain the same over the forecast period. Vendors are adopting inorganic growth strategies such as mergers and acquisitions to expand their product portfolios and geographic reach and gain a competitive edge. Kubota Corp., Mahindra & Mahindra Ltd., and Yanmar Holdings Co. Ltd. are a few of the significant market participants. Although the accelerating market growth momentum will offer immense business opportunities to the vendors, the growing second-hand machine market will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this planting equipment market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This planting equipment market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading planting equipment companies, including:

AGCO Corp.
Bourgault Industries Ltd.
Bucher Industries AG
CLAAS KGaA mbH
CNH Industrial NV
Deere & Co.
ISEKI & Co. Ltd.
Kubota Corp.
Mahindra & Mahindra Ltd.
Yanmar Holdings Co. Ltd.

Planting Equipment Market: Segmentation by Region

The market in APAC is expected to record a significant growth rate over the forecast period. The presence of government initiatives that support sustainable agricultural practices, such as adopting strategies to improve soil health and water management and irrigation, will drive the planting equipment market growth in APAC over the forecast period. The rising demand for food and consolidation activities among vendors are other factors that will contribute to the planting equipment market growth.

Over 44% of the overall market’s growth will originate from APAC during the forecast period. China, India, Japan, and Australia are the key markets for planting equipment in the region. The market growth rate in this region will be higher than that of other geographies during the forecast period.

Planting Equipment Market: Segmentation by Product

Seed drills are designed to sow seeds at equal distances in rows. Farmers use seed drills to obtain high precision in sowing seeds, which enhances crop yield and provides a high seed sown-crop harvested ratio in the agriculture industry. As a result, the planting equipment market growth by the seed drills segment has been substantial. Also, vendors in the market are offering a range of innovative products.

The growth rate of the seed drills market segment is expected to be slower compared with the other market segments over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the planting equipment market size.

Planting Equipment Market: Key Drivers and Trends

The growing population has increased the demand for food. As a result, it has become crucial for governments and agricultural companies to optimize crop yield. Consequently, with the advent of farm mechanization, farmers are being given subsidies to adopt farm equipment such as planting devices. Farm mechanization increases yields include several areas of cultivation and improve application efficiency of water and other agricultural inputs such as seeds and fertilizers. It also increases profitability for farmers. The rate of farm mechanization is about 90% to 95% in developed countries such as the US, Germany, Canada, and France. Emphasis on farm mechanization is growing in developing countries such as India and China owing to the rising population, which will significantly drive the global planting equipment market growth over the forecast period.

Precision farming refers to the management system for crops and livestock that relies on global positioning systems (GPS) to monitor the location of field equipment and communicate with them.
A few features of precision farming are equipment guidance, yield inspection, and variable rate input application.
Farmers can automate a large part of their agricultural operations and minimize their input costs with precision farming.
The high profit-making potential of precision farming is expected to increase its commercial availability over the forecast period, which is one of the critical global planting equipment market trends.
The planting equipment market size will grow at a CAGR of over 6% during 2020-2024.

Source: TechNavio

The post The global planting equipment market size has the potential to grow by USD 4.28 billion during 2020-2024 appeared first on North America FarmQuip Magazine.

The agricultural tractors market size has the potential to grow by 481.84 thousand units during 2020-2024

Michele Catinari — Mon, 30 Mar 2020 21:00:56 +0000

The agricultural tractors market size has the potential to grow by 481.84 thousand units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period, according to this Technavio report

Market Competitive Analysis

The agricultural tractors market is concentrated. Market vendors are increasingly focusing on M&A activities to increase their share in the agricultural tractors market. J.C. Bamford Excavators Ltd., Kubota Corp., Mahindra & Mahindra Ltd., Tractors and Farm Equipment Ltd., and Yanmar Co. Ltd. are some of the major market participants. Although the introduction of driverless agricultural tractors will offer immense growth opportunities, the cyclical pattern of the agricultural industry will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this agricultural tractors market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this agricultural tractors market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

AGCO Corp.
Alamo Group Inc.
CLAAS KGaA mbH
CNH Industrial NV
Deere & Co.
J.C. Bamford Excavators Ltd.
Kubota Corp.
Mahindra & Mahindra Ltd.
Tractors and Farm Equipment Ltd.
Yanmar Co. Ltd.

Agricultural Tractor Market: Segmentation by Region

APAC was the largest agricultural tractors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high focus on increasing farm yields and productivity and the availability of technologically advanced agricultural tractors will significantly influence agricultural tractors market growth in this region.

Almost 72% of the market’s growth will originate from APAC during the forecast period. India, China, and Japan are the key markets for agricultural tractors in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Agricultural Tractors Market: Segmentation by Engine Capacity

The high fuel efficiency offered by low power agricultural tractors has boosted its popularity among small and mid-sized farmers. The demand for low-powered agricultural tractors is especially high in regions with fragmented pieces of agricultural land.

Market growth in this segment will be faster than the growth of the market in the mid-power and high power segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the agricultural tractors market size.

Agricultural Tractors Market: Key Drivers and Trends

The introduction of driverless agricultural tractors will be a significant factor driving the growth of the agricultural tractors market. The increasing focus on technological innovations has helped several leading companies to develop various versions of driverless agricultural tractors. For instance, robotic tractors developed by Yanmar, in collaboration with Hokkaido University, have in-built sensors that identify obstacles and prevent collisions. The speed of the tractor is optimized by an engine control unit (ECU) based on the operating conditions. Similarly, Autonomous Concept Vehicle developed by CASE IH includes technologies such as GPS trackers, radars, and cameras and can be operated and programmed using a table interface. The rising popularity of driverless tractors has also driven several startups, such as AutoNxt Automation Pvt Ltd, to invest in such ventures.

Leading vendors are increasingly focusing on R&D and the development of new product designs to gain a competitive edge over their rivals.
9RX Series Tractor offered by Deere & Company has improved features such as parallel plane four-bar-linkage cab suspension that allows a smooth ride and eliminates unwanted bumps and vibrations.
Semi-autonomous Novo 65 HP & 75 HP tractors developed by Mahindra & Mahindra are integrated with new technology and ergonomics.
MAJOR HS80, offered by ZETOR, has innovative features such as enhanced operator’s view from the cabin and new locations of the lights illuminating a larger working area.
The increasing availability of agricultural tractors with improved features, which is one of the critical agricultural market trends, will help in addressing various problems of farmers and increasing productivity with minimum inputs and cost-efficiency.
During 2020-2024, the agricultural tractors market will grow at a CAGR of almost 4%.

Source: TechNavio

The post The agricultural tractors market size has the potential to grow by 481.84 thousand units during 2020-2024 appeared first on North America FarmQuip Magazine.