7.6% CAGR growth by 2023 in the Agricultural Plowing and Cultivating Machinery Market| Top Vendors - DEERE & COMPANY (JOHN DEERE), AGCO CORPORATION, CNH INDUSTRIAL, AND MAHINDRA TRACTORS, amongst others

Market Analysis:

Asia-Pacific to Dominate the Market
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. 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.

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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. 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.

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Market Segments:
Agricultural Plowing and Cultivating Machinery Market is segmented by:
1. Machinery Type: Ploughs, Harrows, Cultivators & Tillers
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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.

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