21 November 2019 - Agriculture & Farm Equipment Market
was estimated at $124.2 billion in 2015. Agricultural equipment or machinery
are the tools used in various processes of farming, such as planting,
threshing, agriculture product processing, harvesting. New agricultural
equipment is replacing the traditional tools owing to improved productivity and
enhanced quality of the crop.
The need of food is growing at a faster rate as the
population is increasing, so the demand for new agricultural equipment is
growing to match the requirement of food.
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Innovative technologies in the agriculture are increasing
the quality & production per square feet for the agricultural products.
Manufacturers are focusing on integrating various new technologies such as
robotic systems, Google Earth and GPS into existing machinery for tracking
productivity and improving it. The government also encourages the use of
farming equipment by proving subsidies and offering lower rates to the farmers
in emerging countries like India and China to adopt agricultural equipment.
Equipment Market
On the basis of Product: Tractors dominate the product
category and is estimated to account over 20% of total revenue in 2015 after
harvesters. Tractors are the most efficient and effective equipment in the agricultural
sector as they can perform several activities in the process of farming.
Harvesters are expected to grow at a CAGR of 5% through 2014-25.
Other product segment includes thrasher, combine harvester,
rotavator, Zero Till Seed Drill, Power Tiller, Multi Crop Planter, Drip
Irrigation, Sprinkler Irrigation, Power Weeder, Power Spray.
On The basis of Application: The products are divided as per
the processes in farming such as Sowing & Planting Equipment, Land
Development/Seed Bed Preparation/Tillage Equipment, Plant Protection Equipment,
Water Inter Cultivation equipment, Agro Processing and Harvesting &
Threshing.
Threshing and Harvesting expect the fast growth of a CAGR
over 6% through the forecast period. Land Development/Seed Bed
Preparation/Tillage contributed over 15% of the global revenue in 2015.
Agriculture is labor intensive, and the scarcity of farm labor will be the key
fueling factor to the increasing demand for agricultural equipment.
Regional Insights
North America Dominated the Agriculture equipment market in
2015. The driving factors behind the most usage of agriculture equipment are
the scarcity of labor, improved features and fuel efficiency of the machinery
and demand for the food. However, North America and Europe are expected to show
moderate growth over the period. The Asia Pacific region is projected to be
fastest growing market during the forecasted period owing to India and China
are emerging as the fastest growing market. China dominates the region by
contributing over 20% of the regional revenue share in 2015. Developing
countries are showing strong economic growth, such as India, Middle Eastern
countries and China, which will further fuel the growth of the agricultural
equipment industry.
Market Segment:
Product Outlook (Revenue,
USD Billion, 2014 - 2025)
• Tractors
• Harvesters
• Planting
Equipment (Revenue: USD Billion, Volume: Thousand Units, 2014 - 2025)
• Row crop
planters
• Air seeders
• Grain drills
• Others
• Irrigation &
crop processing equipment
• Spraying
equipment
• Hay & forage
equipment
• Others
Application Outlook
(Revenue, USD Billion, 2014 - 2025)
• Land development
& seed bed preparation
• Sowing &
planting
• Weed cultivation
• Plant protection
• Harvesting &
threshing
• Post-harvest
& agro processing
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Competitive Insights
The Agriculture machinery market is highly fragmented and
competitive due to the existence of prominent players along with some other
medium or small-scale participants. Key players in the agriculture industry
include Mitsubishi Agricultural Machinery Co. Ltd., AGCO Corp., Same Deutz-Fahr
Group S.p.A. (SDF), Iseki & Co., Ltd., Kubota Corporation, Deere &
Company Mahindra & Mahindra Limited.
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