Agricultural Implement Market Value is Expected to Reach $274.3 Billion by 2023 : Covid 19 Impact And Recovery

The Business Research Company offers "Agricultural Implement Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global agricultural implement market is expected to decline from $239.3 billion in 2019 to $228.5 billion in 2020 at a compound annual growth rate (CAGR) of -4.6%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $274.3 billion in 2023.

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The agricultural implement market consists of sales of farm machinery and equipment, and lawn and garden tractor and home lawn and garden equipment by entities (organizations, sole traders or partnerships) that produce agricultural implements, including combines, cotton ginning machinery, fertilizing machinery (farm-type), haying machines, milking machines, planting machines (farm -ype) poultry brooders, feeders and waterers, power lawnmowers, snowblower and throwers (residential-type) tractors and attachments (lawn and garden-type and farm-type).

Farm machinery manufacturers are offering driverless tractors and robots to individual farmers and corporate farming companies. Driverless tractors and robots automate the weeding and harvesting process. They use GPS and sensors and can be controlled using a tablet or a smart phone. These technologies are known to considerably increase farm output and decrease labor costs. For instance, according to a report by Goldman Sachs, automated tractors can raise farmer revenue by more than 10% and reduce farm labor costs. Companies offering driverless tractor and robot technologies include CNH Industrial, Deere, and AGCO.

Agricultural Implement Market Segmentation: -
By Type
Farm Machinery And Equipment
Lawn And Garden Tractor And Home Lawn And Garden Equipment

By Operation
Autonomous
Semi-autonmous
Manual

By Application
Land Development and Seed Bed Preparation
Sowing and Planting
Weed Cultivation
Plant Protection
Harvesting and Threshing
Post-Harvest and Agro Processing

By Capacity
Small
Medium
Large

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Agricultural Implement Market Characteristics
4. Agricultural Implement Market Product Analysis
5. Agricultural Implement Market Supply Chain
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20. Agricultural Implement Market Competitive Landscape
21. Key Mergers And Acquisitions In The Agricultural Implement Market
22. Market Background: Agriculture, Construction, And Mining Machinery Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer

The report covers the trends and market dynamics of the Agricultural Implement Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Agricultural Implement Market are John Deere; CNH; AGCO; CLAAS; Kubota

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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