How Agriculture Equipment Market Growing Rapidly…? CNH Industrial, John Deere, Zetor Tractors, AGCO, Escorts Limited, Bucher Industries
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The impact of technological advancements on the growth prospects of Agriculture Equipment Market can be demonstrated with the example of drones that are being increasingly developed and deployed in North Japan for the observation of crops as well as spraying medicine and pesticides. As the younger population of Japan is moving to urban areas to pursue better paying jobs, the elderly people are being left to tend to the fields. Lacking the stamina of the youth the older generation is turning to technology to make up for the labor shortage and thus drones are being increasingly used to raise productivity as well as farmers’ income.
Digital farming is now introducing the use of robotics, data analysis and sensors in shifting the tediousness of farming processes to more automated processes, increasing agricultural yields and gradually stimulating agriculture equipment market size. This progress in agriculture equipment technology has been met with commendable ardor among farmers who are now employing more automated means of cultivation and harvesting in their farms, adding impetus to the market.
Agriculture Equipment Market, By Product:
• Farm tractor
• Harvesting machinery
• Plowing & cultivation machinery
• Planting & fertilizing machinery
• Haying machinery
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According to the U.S. Department of Agriculture, the production and consumption of local and regional food has become a veritable movement and one of the foundational pillars for policies and programs. In fact, between 2009 and 2015, the USDA has invested over $1 billion in more than 40,000 local and regional food businesses and infrastructure projects. Arguably, such significant investments have led to commendable expansion of the agriculture equipment market as well.
Major players operating in global agriculture equipment market are:
• AGCO Corporation
• Deere & Company (John Deere)
• Bucher Industries
• Dawn Equipment
• CNH Industrial
• CNH Industrial
• Mahindra Tractors
• Deutz-Fahr Deutschland GmbH
• Force Motors Ltd.
• Kverneland Group
• International Tractors Ltd.
• Kuhn Group
• Iseki & Co. Ltd.
• Escorts Group
• Tractors and Farm Equipment Ltd.
The rising populace and the subsequent requirement of enhanced yield for combating the demand for food is certain to push agriculture equipment market trends. According to the United Nations Department of Economic and Social Affairs, the global population is expected to reach 8.6 billion by 2030 – a sizeable number that will exert increasing pressure on global agricultural output. Even considering that fertility levels may continue to decline, the upward trend in population expansion is predicted to continue. As a result, agricultural techniques and resources will have to be more attuned to increase demand, that would prompt agriculture equipment market players to invest substantially in R&D programs that will focus on the advancement of agriculture equipment.
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