Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Agriculture Equipment market.
Trusted Business Insights presents an updated and Latest Study on Agriculture Equipment Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Agriculture Equipment market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Agriculture Equipment Market: By Product Type (Harvesters, Tractors, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, and Others), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro Processing)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 -2029
The global agriculture equipment market is set to record a CAGR of nearly 8.7% over the forecast period. The report offers valuation and analysis of the agriculture equipment market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, sales estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion).
Key Growth Drivers
The massive use of new technologies in farming activities to enhance crop yield will boost market trends. Apart from this, the rise in the application of drones in the agriculture sector will create new growth avenues for the market over the forecast timeline. Moreover, the introduction of new features in drone technology along with its integration with AI technology is likely to boost precision farming market growth over the coming years.
Escalating food demand has resulted in the use of advanced farming equipment such as unmanned aerial vehicles. Furthermore, UAVs are also used for crop dusting, precision agriculture, seed sowing, weed & pest monitoring, and farm management activities. Recently, UAVs are attached with hyperspectral, thermal, and multispectral sensors for gathering information pertaining to soil moisture levels, plant health, and crop density.
There are numerous examples of evolving technologies such as robots that are utilized with machine learning to collate the information whether or not the agricultural crop is a weed or comprise of unwanted pests. Moreover, these robots spray a certain proportion of pesticides on the pests for eliminating them. Moreover, the machine learning tools help the robots to determine ripe fruits and pluck it at an appropriate stage. All these factors will drive the growth of the agriculture equipment market over the forecast timespan.
Furthermore, there is a spectrum of applications of equipment in the farming sector with seed getting planted by robots after determining the climatic conditions, crops are irrigated as per requirement & precision, cattle get fed, pests killed, and fruits harvested, arranged, packed, and delivered as per order. All these agriculture equipment operate in a synchronized manner by sharing the information, making business decisions, and transforming these decisions into actions from seed to end product. All these aforementioned aspects will steer business growth over the forecast timeline.
Asia Pacific To Accrue Major Chunk Of Overall Market Share By 2025
The massive use of machine-to-machine technology in the agriculture industry across countries like India is set to record huge growth over the forecast timeline. Furthermore, machine-to-machine technology offers benefits such as real-time status of the farming equipment and monitoring & diagnostics of the equipment. For instance, machine-to-machine technology can help in determining the status of operation & diagnostics of farming equipment like tractors, tanks, and harvesters.
Moreover, wireless modems are fitted on the farming equipment for sending alerts on the mobiles or smartphones of the farmers in countries like India. GPS is utilized for determining the farming equipment site. Retrofit kits are produced for aiding monitoring as well as diagnostics of the agricultural equipment.
Key players profiled in the report include AGCO, Mahindra & Mahindra, John Deere, Kubota, CNH Industrial N.V., and Iseki & Co., Ltd.
The global agriculture equipment market is segmented as follows:
Row Crop Planters
Irrigation & Crop Processing Equipment
Hay & Forage Equipment
Land Development & Seed Bed Preparation
Sowing & Planting
Harvesting & Threshing
Post-harvest & Agro Processing
Middle East and Africa
Quick Read Table of Contents of this Report @ Agriculture Equipment Market: By Product Type (Harvesters, Tractors, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, and Others), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro Processing)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 -2029
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