Agricultural Plowing and Cultivating Machinery Market To Rise at 7.6% CAGR With Global industry Leading Players - Deere & Company (John Deere), Agco Corporation, Cnh Industrial, And Mahindra Tractors

The global agricultural plowing and cultivating machinery market is expected to register a CAGR of 7.6% during the forecast period 2018 - 2023. Asia-Pacific has covered a major share in the market in 2017 and expected to remain as a major region in the market during the forecast period, owing to the increase in the utilization of cultivators and tillers in small farms. However, other equipment, like ploughs and harrows, have covered a share of about 40% in global plowing and cultivating machinery market in 2017. As aforementioned equipment are highly deployed by most of the farmers, who are cultivating crops, like rice, wheat, sugarcane etc., as proper plowing and tilling of the crop field is essential to achieve better soil fertility.

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Trend of Shifting To Small Working Width Farm Equipment

Many manufacturers are focusing more in supplying small working width size of plowing and cultivating machinery, due to the reducing agricultural land holdings by farmers across the globe. Thus, ploughs, harrows, cultivators, and tillers are offered with an average range of 2m to 4m working width size by the manufacturers to meet the major demand side from small farmers. Farmhand Amazone’s one of the main dealer’s representative, has started supplying 3m wide Catros 3003 compact disc harrow into the Irish market in 2017.

Key Developments in the Market:

July 2017: Kuhn Group launched a new 3 metre version, the PERFORMER 3000, non-powered, deep working disc and cultivator at Cereal event 2017

December 2017: After Kverneland Group launch of Turbo cultivator in 6.5m and 8m trail versions in Holland successfully in October 2017, the company decided to introduce Turbo cultivator in working width of 3m and 3.5m to capture major demand from small farmers in the market

Major Players:
DEERE & COMPANY (JOHN DEERE), AGCO CORPORATION, CNH INDUSTRIAL, AND MAHINDRA TRACTORS, amongst others.

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Recovery in Europe Agricultural Machinery Market

According to the European Committee of Farm Machinery Manufacturer’s Associations (CEMA), in 2017, the European agricultural machinery market had seen a growth of 4% from 2016 and also, anticipates to see this growing trend during the forecast period. Therefore, Europe is likely to see potential growth for plowing and cultivating machinery in the next five years, owing to factors like improving agricultural productivity through mechanization and labor shortage.

Technological innovation and precision farming are some of the areas that can be exploited for future opportunities. Besides a huge scope of development, the major constraints the sector faces are low commodity prices and expensive machinery, resulting in less affordability of machinery from farmers. These factors affect the growth of the agriculture sector, thus affecting the growth of the plowing and cultivating machinery market.

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This release was published on openPR.