Global Farm Equipment Market By Power Output (Farm Tractor, Autonomous Tractor), Farm Tractor Drive Type (Four-Wheel, Two-Wheel), Equipment Type (Balers, Combines, Sprayers), Function (Harvesting & Threshing, Sowing & Planting, Ploughing & Cultivating, Plant Protection & Fertilizing, Others), Rental Equipment Type (Combines, Tractors, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Farm Equipment Market
Global Farm Equipment Market is expected to grow from its initial estimated value of USD 101.89 billion in 2018 to a projected value of USD 138.69 billion by 2026, registering a CAGR of 3.93% in the forecast period of 2019-2026. This rise of market value can be attributed to increased support from government and increased effectiveness with the adoption of mechanized labour.
Market Definition: Global Farm Equipment Market
Farm equipment is a categorical name given to the equipments and machinery that are used by farmers in various agricultural activities, such as harvesting, ploughing, seeding, and various other activities. These equipments are in mechanized form and thereby result in increased output from the farm land subsequently resulting in increased profit margins.
- Increasing adoption of mechanized methods of agriculture and capital-intensive agriculture techniques due to the increased efficiency and effectiveness associated with the usage of the equipments; this factor is expected to act as a driver for the market growth
- Lower adoption rates from farmers of developing regions for the usage of high cost farm equipment; this factor is expected to restrain the market growth
Segmentation: Global Farm Equipment Market
- By Power Output
- Farm Tractor
- Less than 30 Horsepower
- 31-70 Horsepower
- 71-130 Horsepower
- 131-250 Horsepower
- Greater than 250 Horsepower
- Autonomous Tractor
- Less than 30 Horsepower
- 31-100 Horsepower
- Greater than 100 Horsepower
- Farm Tractor
- By Farm Tractor Drive Type
- By Equipment Type
- Non-Cereal Crops
- Cereal Crops
- By Function
- Harvesting & Threshing
- Sowing & Planting
- Ploughing & Cultivating
- Plant Protection & Fertilizing
- By Rental Equipment Type
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In December 2018, CNH Industrial N.V. announced the launch of their “AGXTEND” aftermarket agricultural farming equipment brand. This brand will focus on providing consumers of CNH’s various agricultural brands aftermarket expertise in precision farming and agricultural technology.
- In September 2018, Escorts Limited announced the launch of their first driverless, tractor. The product will help farmers in maximising their output significantly while the tractor can operate autonomously in the farming processes.
- In April 2018, Mahindra & Mahindra Ltd. announced the launch of Mahindra “Novo” range of tractors that are semi-autonomous and equipped with the latest cost-effective technology. The products available in the range include a two-wheel drive 65HP “655 DI”, and a four-wheel drive 75HP “755 DI”.
Competitive Analysis: Global Farm Equipment Market
Global farm equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of farm equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Farm Equipment Market
Few of the major competitors currently working in the farm equipment market are AGCO Corporation; KUBOTA Corporation; CLAAS KGaA mbH; SDF S.p.A.; Deere & Company; Mahindra & Mahindra Ltd.; J C Bamford Excavators Ltd.; Escorts Limited; Alamo Group Inc.; Bucher Industries; CNH Industrial N.V.; ISEKI & CO., LTD.; YANMAR CO., LTD.; Exel Industries; ZETOR TRACTORS a.s.; Tractors and Farm Equipment Limited and International Tractors Limited.
Research Methodology: Global Farm Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved