Technologies Advances Boost Agriculture Machinery and Equipment Market, 2013 - 2019
The global market for agriculture machinery and equipment market has been able to hold its own despite economic downturns and changing weather conditions. Agriculture machinery has revolutionized farming across the globe in more ways than one. It has enabled farmers to use high-tech machinery for various laborious farm activities such as sorting, harvesting, loading, milking, irrigation, controlling pests, planting, fertilization, and soil cultivation. The popularly used agriculture equipment are harvesters, tractors, and seeding machinery. While the line of equipment used in the agriculture industry are wool pressers, mixers, windmill, and grinders.
The manufacturers in the agriculture machinery and equipment market can truly lead the market by creating integrated solutions for farming by being a part of the bigger markets of all farm inputs. They can also contribute to integrated farming solutions to other manufacturers to grab bigger market shares. The biggest shareholder in the agriculture machinery and equipment market is farm tractor. It makes up for a huge sales bracket in the agriculture machinery and equipment industry. Tractors are used by both, small and big sized farmers for all kinds of work. Thought it is a traditional piece of machinery in the agriculture industry, with various technological advances and innovations a tractor has truly come of age.
Market Segmentation of Agriculture Machinery and equipment Market
The global agriculture machinery and equipment market is segmented on the basis of region, equipment, and machinery. The market for agriculture machinery and equipment is growing at an exponential rate in Asia and Africa though the farmland sizes are the smallest in these regions. The high demand is also seen in these areas despite the fact that there is very little adoption of modern agricultural machinery. Turkey is also a huge market for agriculture machinery and equipment. However, the major growth in the agriculture machinery and equipment industry is fuelled by India and China. Other potential markets with huge farmlands are Europe, North America, and Australia. Black sea region and South America are also indicating to be market drivers for agriculture machinery and equipment market.
Opportunities for Global Agriculture Machinery and Equipment Market
The biggest factors influence the agriculture machinery and equipment market towards growth is farm income and crop production projections for the coming season. As farmers are gaining more and more by employing advanced agriculture machinery and equipment to the farming activities, there’s a changed perspective helping this scenario. Additionally, with population explosion and steady economic growth in developing nations there is an increasing pressure on agricultural industry as a whole to meet the demand. This has led to rising demand for high-tech agriculture machinery and equipment. Farmers are also seeking these technologically advanced agriculture machinery and equipment to make efficient gains from crops, increasing feasibility of farming activities, and replaced obsolete methods of farming for better business operations. Farmers in all types of business models, irrespective of the size of farmlands, are looking at agriculture machinery and equipment with a lens of modernization.
Although the global agriculture machinery and equipment market is driven by strong forces, there are several factors that are restraining its growth too. The global agriculture machinery and equipment market feels a pinch with every economic crises, unpredictable and uncontrollable nature of environmental hazards, and policies designed by government that impact the sales of such machinery and equipment. The global agriculture machinery and equipment market is an extremely competitive market and closely held few renowned players. Some of the important players in this industry are AGCO Corporation, Claas KGaA, CHN Global NV, John Deere, Kubota , Mahindra and Mahindra, Shifeng Group and YTO Group. The financial strategies, mergers and acquisitions, innovations, and the changing environment of the planet will prove to be important factors in deciding the future of global agriculture machinery and equipment market.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.