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Global Agriculture Machinery Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

August 19, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Aug 19, 2021--

The “Agricultural Machinery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.

The Global Agriculture Machinery market is estimated to register a CAGR of 8.0% during the forecast period.

Companies Mentioned

  • Deere & Company
  • CNH Industrial NV
  • AGCO Corporation
  • Mahindra & Mahindra Limited
  • Kubota Corporation
  • Iseki & Co. Ltd
  • Escorts Limited
  • Daedong Industrial Co. Ltd
  • JC Bamford Excavators Limited
  • Lindsay Corporation

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Key Market Trends

Growing Demand for Farm Mechanisation in India

The global market for agricultural machinery is driven by the increasing rates of mechanization in developing countries. Tractors accounted for over half of the market share in the global agricultural machinery market in 2020. The main reason behind the increase in farm mechanization is the decreased percentage of agricultural labour across the globe. Farm mechanisation emerges as an important technological intervention for giving the desired productivity push to the country’s agricultural sector. Moreover, leveraging mechanisation by means of custom hiring services (CHSs) not only helps in increasing agricultural productivity but also identifying ways of increasing the and adoption of mechanised farming by a larger group of small and marginal farmers.

Asia- Pacific the Fastest Growing Region

The Asia-Pacific region is expected to grow rapidly due to the high demand for agricultural products, particularly from India and China, over the forecast period. Within Asian, China dominates in terms of production and sale of agriculture equipment, while India, Japan, and Australia, are expected to contribute a significant share in the global market in the coming years, thereby surpassing Europe as the largest market. The population in the region is rising, driving the need for mechanization of agriculture. Owing to the high demand and increasing labor costs, the tractor market in the region is estimated to register a CAGR of 6.1% during the forecast period. According to the World Bank database, the total population in the Asia-Pacific region is set to reach 4.17 billion in 2030. This further signifies that the demand for food and other agricultural products will continue to grow, thereby surging the demand for agricultural machinery to achieve optimal efficiency in production.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

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3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter’s Five Force Analysis

5 MARKET SEGMENTATION

5.1 Type

5.1.1 Tractors

5.1.1.1 Horsepower

5.1.1.1.1 Less than 40 HP

5.1.1.1.2 40 HP to 99 HP

5.1.1.1.3 Greater than 100 HP

5.1.1.2 Type

5.1.1.2.1 Compact Utility Tractors

5.1.1.2.2 Utility Tractors

5.1.1.2.3 Row Crop Tractors

5.1.2 Ploughing and Cultivating Machinery

5.1.2.1 Ploughs

5.1.2.2 Harrows

5.1.2.3 Cultivators and Tillers

5.1.2.4 Other Ploughing and Cultivating Machinery

5.1.3 Planting Machinery

5.1.3.1 Seed Drills

5.1.3.2 Planters

5.1.3.3 Spreaders

5.1.3.4 Other Planting Machinery

5.1.4 Harvesting Machinery

5.1.4.1 Combine Harvesters- Threshers

5.1.4.2 Forage Harvesters

5.1.4.3 Other Harvesting Machinery

5.1.5 Haying and Forage Machinery

5.1.5.1 Mower- Conditioners

5.1.5.2 Balers

5.1.5.3 Other Haying and Forage Machinery

5.1.6 Irrigation Machinery

5.1.6.1 Sprinkler Irrigation

5.1.6.2 Drip Irrigation

5.1.6.3 Other Irrigation Machinery

5.1.7 Other Types

5.2 Geography

5.2.1 North America

5.2.1.1 United States

5.2.1.2 Canada

5.2.1.3 Mexico

5.2.1.4 Rest of North America

5.2.2 Europe

5.2.2.1 Germany

5.2.2.2 United Kingdom

5.2.2.3 France

5.2.2.4 Rest of Europe

5.2.3 Asia-Pacific

5.2.3.1 China

5.2.3.2 India

5.2.3.3 Japan

5.2.3.4 Australia

5.2.3.5 Rest of Asia-Pacific

5.2.4 South America

5.2.4.1 Brazil

5.2.4.2 Argentina

5.2.4.3 Rest of Latin America

5.2.5 Africa

5.2.5.1 South Africa

5.2.5.2 Rest of Africa

6 COMPETITIVE LANDSCAPE

6.1 Most Adopted Strategies

6.2 Market Share Analysis

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/ohre63

View source version on businesswire.com:https://www.businesswire.com/news/home/20210819005642/en/

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KEYWORD: INDIA ASIA PACIFIC

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 08/19/2021 12:35 PM/DISC: 08/19/2021 12:36 PM

http://www.businesswire.com/news/home/20210819005642/en