Farm Equipment Market Top Players | Industry Report 2025
The report “Farm
Equipment Market by Tractor Power Output (<30,31-70, 71-130,
131-250, >250), Drive (2WD, 4WD, & Autonomous), Combines, Baler,
Sprayer, Implement (Plow & Cultivate, Sow, Harvest, Plant Protection &
Fertilizer), Rental, & Region – Global Forecast to 2025″, The farm
equipment market is projected to grow at a CAGR of 4.04% during the forecast
period, to reach a market size of USD 135.2 billion by 2025 from USD 102.5
billion in 2018. Factors such as increasing population, growth of mechanization
due to increasing government support through subsidies or incentives, shortage
of skilled farm labor, and rising labor wages are expected to fuel the demand
for farm equipment.
<30 hp power range is
expected to be the largest segment in the farm tractor market, by power output,
during the forecast period
Tractors with <30 hp power are
estimated to hold the largest market share, in terms of volume, during the
forecast period. China, India, and the US lead the sales of farm tractors and
have a high demand for <30 hp tractors. The Chinese market has a high demand
for less than 30 hp tractors and combines. According to the publication from
“China Agricultural Machinery Distribution Association”, ~65% market belonged
to <30 hp tractors in 2017. According to a publication from the Association
of Equipment Manufacturers (AEM), the US and Canada had approximately 62–64%
market of <40 hp farm tractors in 2017. Factors such as lower price compared
to large tractors and small farmland per farmer would drive the market for
small and medium farm tractors in Asia Oceania and North America.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164005174
Two-wheel drive is estimated
to be the largest farm tractors market, by drive type, during the forecast
period
The two-wheel drive is estimated
to account for 90–95% share in the global farm tractor market in 2018. Due to
the high sales of small tractors, Asia Oceania is estimated to be the key
contributor to the growth of this market. North America is also expected to
contribute significantly to the growth of this segment. According to John Deere
factbook statistics (2017) published by AEM, the sales of two-wheel drive farm
tractors was nearly 99% in Asia Oceania and North America.
Plowing & cultivating
leads the implements market during the period of 2018 to 2025
Plowing & cultivating is
anticipated to hold the largest share in the implements market. The implements
used in this process perform the initial operation of breaking compact earth
surface and loosen the soil mass to help in even penetration of crops. The need
to improve the soil fertility level, maintain the nutrients, and enhance
productivity would boost the demand for plowing & cultivating implements
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=164005174
Cereal combines are projected
to lead the combines market during the forecast period
The cereal combine is anticipated
to be the largest and fastest growing market from 2018 to 2025. The demand for
cereals crops such as rice, wheat, pulses, and corn has shown significant
growth and is expected to grow further in coming years. With the expected
growth in the production of these crops, the demand for cereal combines are
also expected to see promising business opportunity in the coming years.
Key Players:
Some prominent players in the
farm equipment market are John Deere (US), AGCO Corporation (US), CNH
Industrial (UK), CLAAS (Germany), Kubota (Japan), Mahindra & Mahindra
(India), SDF Group (Italy), J C Bamford Excavators (UK), and Iseki (Japan).
Comments
Post a Comment