About Agriculture Equipment
Agriculture equipment is refer as the equipment which is used for agricultural process. This are also called as farm equipment. It enable easy farming, it makes the process simpler and more profitable by enhancing crop quality and reducing labor cost required for farming.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. While company like John Deere, is adopting the strategies of mergers and acquisitions and new product launch to retain its market position. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Deere & Company (United States), Mahindra Group (India), AGCO Corporation (United States), Agrostroj Pelhrimov A.s (Czechia), Concern Tractor Plants (Russia), Escorts Limited (India), CNH Industrial (United Kingdom), CLAAS (Germany), Kubota (Japan) and SPF Group (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are J C Bamford Excavators (United Kingdom) and Iseki (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Agriculture Equipment market by Type (Agriculture Tractors , Harvesters , Soil Preparation & Cultivation Equipment , Irrigation & Crop Processing Equipment , Agriculture Spraying Equipment , Hay & Forage Equipment and Other Agriculture Equipment), Application (Farming , Animal Husbandry , Forestry Industry and Fishery Industry ) and Region.
On the basis of geography, the market of Agriculture Equipment 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 Buying, the sub-segment i.e. Rented will boost the Agriculture Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in startups offering farm equipment on rent and Growing inclination for farm equipment with innovative features
Market Growth Drivers:
Rising demand for productivity of various food products is driving the market growth. There has been rising import and export facility of cereals which is directly affecting the market status of agricultural equipment.
Challenges:
Problem regarding lack of safety-related regulation in developing regions such as India and China
Restraints:
Issue related to high cost of agriculture equipment and Intense competition among regional players
Opportunities:
Growing support from the government to purchase new farm equipment
Market Leaders and their expansionary development strategies
Mahindra Agri Solutions Ltd., a subsidiary of Mahindra & Mahindra, entered into a joint venture with Sumitomo Corporation Group, Japan. The joint venture will have Mahindra and Sumitomo Corporation holding 60% and 40% equity.
CNH Industrial entered into the strategic digital agriculture agreement with Farmers Edge. Through this agreement, customers will get access to FarmCommand, a unique platform that interfaces with the brand’s existing precision farming portals and further extends the range of planning, analysis, execution and agronomic decision-making information available to them.
Key Target Audience
Industry Investors, Manufacturers, End User Industries, Traders, Distributors, and Suppliers, Government and Research Organizations, Associations and Industry Bodies 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.