Farming Equipment Market is expected to grow at a CAGR during Forecast Period

The adoption of advanced and innovative technologies by farmers to improve farm yield and meet the increasing demand for agriculture products are the main factor driving the market. Traditional farming techniques such as tillage, plows, and seeders are now being replaced with various modern and innovative agricultural machinery. Advanced farming machinery such as spraying equipment, harvesters, hay and forage equipment, and irrigation and crop processing equipment is being utilized in various processes to improve overall crop output and quality.

Agriculture equipment helps in easy farming; it performs the process effectively and brings more profits by improving crop quality and decreasing labor costs. The market is anticipated to witness high growth over the forecast period due to the amalgamation of various advanced technologies in this field. The rise in the global population is enhancing the demand for food products, thereby building pressure on farmers to innovate time- and cost-efficient production method.

Global Farming Equipment Market: Overview

A large population directly or indirectly depends on agriculture. It affects the food security and the economic growth of India. With the help of Precision Farming, the agriculture process can easily monitor or observe crop growth based on collected information (soil condition and weather information) from a crop field.

The Deep-processing of agricultural products is an essential step in advancing agricultural industrialization. With the development of social-economic, urban residents are used to fasting rhythm. The follow-up processed goods of agriculture products are growing in demand, such as washed vegetables, cutting products, convenience foods. In those products, there are multiple scales of products which are cored of cutting processing technology or based on their application. Thus, researching the cutting processing technology of the original planting products and their equipment is the foundation of the deep-processing of agriculture products. It is highly significant to industrialize the agriculture equipment industry for various agricultural products.

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Growth Drivers

Increasing demand for food products

There is no doubt that the significant factors maintaining human existence and sustaining life on earth are food and water. While agriculture produces the vast majority of food, it faces many challenges, such as climate change, water shortages, labor shortages. It is due to the aging urbanized population, and increased societal concern about issues such as animal welfare, food safety, and environmental impact. These are the major driving factor for global farming equipment.

Global Farming Equipment Market Segmentation

By Product Type

Based on product type, the global Farming Equipment market is segmented into Agriculture tractors, Harvesters, Soil preparation & cultivation equipment, Irrigation & crop processing equipment, Agriculture spraying equipment, hay & forage equipment, and Other Agriculture Equipment. Humans depend on agriculture and water for survival, so optimal, profitable, and sustainable use of our land and water resources is critical. At the same time, urbanization, developments of the industry, and the overrun of fertilizer and pesticides also bring heavy river pollution. So to produce foods efficiently, different agricultural equipment is required, these factors are expected to propel the market growth.

By Application

Based on the application, the global Farming Equipment the market is segmented into Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, and Post-harvest & Agro Processing.

Modern agriculture is becoming concentrated on monitoring and controlling the entire farming and yielding process. During the different growth periods of vegetables, the requirements of humidity, temperature, and illumination are also additional, so we have to monitor the entire growth process. A typical greenhouse climate control system consists of several subsystems, lighting systems cooling systems, heating systems, carbon dioxide generation systems, watering systems, and fertilization systems.

Recent Development

  • March 2020: FPT Industrial, the global powertrain brand of CNH Industrial N.V. announced that it had acquired Potenza Technology, a company specialized in the design and development of electric and hybrid powertrain systems. This acquisition represents another step in FPT Industrial’s path towards electrification, one of the pillars of its multi-power strategy.
  • February 2019: John Deere introduces a new 1745 Planter with narrow-transport capability. The new planter is compatible with older tractors, ideal for small fields, no-till, and transport on narrow roads.

By Product Type

  • Agriculture tractors
  • Harvesters
  • Soil preparation & cultivation equipment
  • Irrigation & crop processing equipment
  • Agriculture spraying equipment
  • Hay & forage equipment
  • Other Agriculture Equipment

By Application

  • Land Development & Seed Bed Preparation
  • Sowing & Planting
  • Weed Cultivation
  • Plant Protection,
  • Harvesting & Threshing and Post-harvest & Agro-Processing

By Region: 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The objective of the Study:

  • To analyze and project the Global Farming Equipment Market size in terms of value.
  • To examine the region-wise segmentation of the Global Farming Equipment Market and assess the market size in terms of value for each region viz., North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.
  • To outline, segregate, and estimate the Global Farming Equipment Market based on different classifications, i.e., By Product Type, By Application, By Region.
  • To scrutinize category-wise competitive developments in Global Farming Equipment Market based on By Product Type, By Application, By Region.
  • To interpret the current market dynamics, by analyzing growth drivers, restraints, opportunities, and challenges and their impact.
  • To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.

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