Agricultural or Farm Equipment Market majorly controlled by APAC, with India and China to lead in the coming decades.
Agricultural or Farm Equipment is any type of machinery or tool which is specialized to be used on farms for farming purposes to create an ease by saving time, energy and resources in the agricultural operations and ultimately to yield better quality results in growing crops.
The main purpose of this equipment is to improve and lift the standards of the farmers and enhance their overall output which is a benefit for both, themselves and the nation too.
Table of contents and insights
In the recent decade, the developed nations like the U.S, Germany and Japan not only merely increased their supply and demand for high performance Farm Equipment, but have also been considering the flexibility, security, GPS assistance, comfort, design and smartness of the tools.In contrast, developing nations prefer fuel-efficient and low economical machinery.
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Reason for this market growth
* Government insisting on Farm Mechanization of farm sectors (agricultural modernization) in developing countries.
* Directly proportional to the novel technology in the field of agriculture.
* A simple reason of helping the farmers in the harvest season by making it easier and profitable for them.
* The increasing population has been boosting the demand for food grain which is further leading to the rising per capita calorie intake. This further causes an increasing pressure on the agriculture sector to become more productive and efficient. And at the end of the chain, the result is an increased drive in the demand for Agricultural Equipment Market all across the globe.
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This market hosts a wide variety of tools and machines each with unique purposes and goals. All of them differ in size, cost, usage, performance etc.
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Farm Equipment Market can be broadly segmented into:
* Tractors: supposedly, the largest and fastest growing market segment.
* Ploughs, Seed driller,
* Trans planters,
* Threshers etc.
It is believed that this market is controlled by three top players:
* AGCO Corporation,
* John Deere and
* CNH Global NV.
The other key Vendors
* CLAAS KGAA MBH,
* GROUPE EXEL INDUSTRIES SA,
* MTD PRODUCTS AG, Alamo Group
Region wise analysis
Asia-Pacific (APAC) is accounted as the largest market for Agricultural Equipment followed by North America and Asia.
India and China are the fastest growing countries in Asia because of two main reasons:
* Support they get from the government in form of subsidies in this market.
* Fast growing population causes an increased demand for food grain.
In the Global Agriculture Equipment Market, while China holds one-third of the share, India’s demand and smart investment in this field is growing at a very high rate.
Logical Estimates by IndustryArc
We suppose the net farm market income exceeded US$ 125 billion at the end of 2013. This was noted to be the highest record in the last 40 years based on constant dollars. With APAC as the fastest and largest growing region, this market is expected to reach $ 200 billion by the forecast period 2020!
This had been and yet is good news for companies that produce and sell Agricultural Equipment because their revenues hinge tightly on farm incomes.
For inspiration and more insight, take a look at what the legends of Tractors have to tell about themselves: Mahindra Tractors
We began manufacturing tractors in the early 1960s for the Indian market. Nearly 50 years later, we are the number one tractor company in the world (by volume) with annual sales above 200,000 and over 2.1 million tractors sold to date. Our products are making farms more prosperous in more than forty countries on six continents. Following our vision of Farm-Tech Prosperity, we’ve also expanded into farm-support services, including agri-mechanization solutions under Mahindra AppliTrac, seeds, crop protection, as well as market linkages, distribution, agri-support information and counseling through the Samriddhi Initiative.
Through this network of services, we aim to empower the rural farmers and transform rural productivity, income, and living standards. We want to improve farm lifestyles by making hard work easier, increasing yields, and increasing returns. All our tractor brands, ranging from the 15 HP engine to 85 HP, have been designed in close communication with farmers about their day to day tractor usage and farming practices. From low cost tractors that cater to farmers with marginal landholdings, to higher performance tractors with superior features, we’ve revolutionized the farm equipment space. Our farm equipment and services provide a comprehensive support system to help farmers prosper.
Precision Agriculture and Tools Market (2013-2020): By Type (Precision Agriculture, Precision Livestock, Precision Viticulture and Others); By Technology (Variable Rate Technology, Guidance Systems and Others); By Application (Harvesting, Field Applications, Yield Monitoring and Others) and By Geography
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