About Farm Mechanization
Farm mechanization is the development and use of a machine that can take the place of human and animal power in agriculture processes. It is a crucial input for agricultural crop production. The increasing popularity of farm mechanization among farmers is the major factor driving the growth of the market. The use of farm mechanization can reduce labor, reduce health hazards, etc.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Global Farm Mechanization is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Farm Mechanization market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
John Deere (United States), CNH Global (Netherlands), AGCO (United States), Alamo Group (United States), Kubota (Japan), International Harvester (United States), TAFE (India), CLASS (Germany) and Mitsubishi (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Farm Mechanization market by Type (Combine Harvester, Tractor, Rice Transplanter, Power Tiller, Land Leveler and Others) and Region.
On the basis of geography, the market of Farm Mechanization has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Function, the sub-segment i.e. Plowing & Cultivating will boost the Farm Mechanization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drive Type, the sub-segment i.e. Two-wheel drive will boost the Farm Mechanization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. <30 HP will boost the Farm Mechanization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Consumer Preference towards Environmental Friendly Technologies
Market Growth Drivers:
Surging Applications of Farm Mechanization in Agriculture Sector and Growing Demand for Farm Mechanization from Farmers to Increase Production
Challenges:
Lack of training and skills
Restraints:
High Cost Associated with Farm Mechanization
Opportunities:
Rising Adoption of New Technologies can create Opportunities for the Market Growth.
Market Leaders and their expansionary development strategies
In July 2023, AGCO Partners with IBM to Develop AI-Powered Farming Solutions announced a partnership with IBM to develop AI-powered farming solutions. The partnership will focus on developing AI-powered tools that can help farmers make better decisions about their crops and livestock.
In September 2023, CLAAS launched a new Terra Track crawler tractor. The new tractor is designed for use in difficult terrain, such as hills and slopes. It has a unique track system that provides superior traction and stability.
Key Target Audience
Farm Mechanization, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.