Press release
Shortage Of Labor In The Global Agriculture Industry Coupled With The Rising Wage Rates To Boost Power Tillers Market
Latest market analysis by Fact.MR on global power tiller demand reveals high single-digit growth during 2021-2031. The recent market outlook on power tiller sales takes into account historical sales for the period 2016-2020. Global demand with key trends in lucrative markets is offered for the period 2021-2031.The growth of powered equipment in the global agriculture market is estimated to be one of the most prominent drivers for the growth of the global power tiller market in the near future.
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Segmentation
By Product type, the power tiller market is segmented into:
Electric Powered
Gasoline/Diesel Powered
By Size, the power tiller market is segmented into:
Mini-tillers or Cultivators
Mid-Sized Front-Tine Tillers
Large Rear-Tine Tillers
What are the Key Strategies of Diesel Power Tiller Manufacturers?
Several government regulations prohibited the import of power tillers. To avoid losses in the industries, companies requested the government to reconsider the restrictions imposed on power tillers.
Many companies focused on acquisitions and mergers in order to expand their footprints in the market. For instance, BTL EPC LTD tied up with VST Tillers on signing an OEM agreement. As a result of this agreement, farmers can increase their farm power and double their incomes. As a result of this agreement between VST and BTL EPC LTD, small farmers and marginal farmers will be able to access innovative products, supporting the Government of India initiative for Atmanirbhar Barat.
For instance, a collaboration between VST and Zetor Tractor in the Czech Republic resulted in higher horsepower tractors. In addition to the markets, both partners are contemplating the launch of higher HP tractors.
To expand its business and supplement line of products, VTS partnered with Pubert, a leading manufacturer of power weeders, to further improve the quality of the machines like ARO MAESTRO, WEEDER W4, and PRO.
Power tiller is one of the multi-functional devices used ideally in small and medium farms. It is estimated that most of the small and medium farms in a country where agriculture is a main source of income, account for almost 60% to 70% in comparison with the larger farms.
Additionally, the use of power tillers is mostly used for the crops such as paddy, sugarcane, etc. in the global market.
Power tillers are unique equipment that can be used for various applications such as rotary puddler, plow disc, thresher, and levelers, among others. It can be used on both wet and dry soil in farms. One of the prominent use of a power tiller is that it can be converted into a mechanical reaper to harvest crops such as rice, barley, etc.
The growth of powered equipment in the global agriculture market is estimated to be one of the most prominent drivers for the growth of the global power tiller market in the near future.
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Region-wise Outlook
North America and Europe have presence of all commercial and industrial sectors along with the presence of prominent players, which is expected to drive the growth of the power tiller market in these regions.
Rapid industrial developments in the Asia Pacific region, especially China and India, are estimated to fuel the growth of the power tiller market. The manufacturers are striving to enhance their product quality and attractiveness by offering more improved power tillers in the global market.
Thus, the power tiller market is expected to grow in the near future. Therefore, it is estimated that the power tiller market will see rapid growth in developed as well as developing countries in the near future.
Competitive Landscape
Examples of some leading participants identified across the value chain of the power tiller market are:
FALC srl
Greaves Cotton Limited
Honda Power Equipment
Kerala Agro Machinery Corporation Ltd. (KAMCO)
Kirloskar Oil Engines Limited (KMW)
Kranti Agro
Mahindra & Mahindra Ltd.
Minos Agricultural Machinery
Shrachi Agro
V.S.T Tillers Tractors Ltd.
YANMAR CO., LTD.
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