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Germany Agriculture Equipment Market Size, Share, Sales Forecast, Regional Outlook, Competitive Landscape, & Forecast 2023-2028 - Arizton
Arizton's latest research report states that the Germany agricultural equipment market will grow at a CAGR of 3.54% during 2022-2028. The report considers the present scenario of the Germany agriculture equipment market and its market dynamics for 2023-2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.To Know More, Download the Free Sample Report: https://www.arizton.com/request-sample/3944
Germany boasts a vast food consumer base of over 83.3 million people, making it one of Europe's largest food markets. Over the last four decades, the country has experienced significant advancements in farm mechanization, leading to increased agricultural and industrial productivity, all thanks to a technological renaissance.
Farmers who originally planned to invest in agricultural machinery in the future accelerated their investment plans. They did so in response to the anticipation of soaring inflation and the diminished value of financial instruments. Furthermore, the second-hand market for agricultural vehicles has seen limited availability of newer models, which has bolstered the demand for new agricultural equipment.
The tightening of loan availability has compounded the challenges faced by German farmers. The narrowing profit margins have dampened capital expenditure and heightened the need for loans to acquire agricultural machinery in Germany. This has had adverse effects on the country's farm machinery industry in recent times. In 2020, the decline in the sales of agricultural equipment can be attributed to the impact of COVID-19 and the infrequent replacement of agricultural machinery, as these typically have long replacement cycles.
Tractors Industry is Poised for Rapid Growth Over the Next 6 Years
The demand for high-power tractors is largely driven by medium and large-scale farmers and government institutions that focus on rental services, as many farmers in the country have more than ten hectares of land. Large-scale farmers in the country have high purchasing power and can afford more expensive and advanced equipment.
As a leader in the automotive and engineering industries, Germany is likely to be at the forefront of such technological advances. Several companies and startups work on developing electric and sustainable agricultural machinery, including electric tractors, to cater to the increasing demand for eco-friendly solutions in agriculture.
An electric tractor launch in Germany could be expected to offer benefits, such as reduced emissions, lower operating costs, and potentially improved efficiency through precision agriculture technologies. These tractors may also integrate advanced features, such as telematics, autonomous capabilities, and smart farming solutions.
Recent Developments in the Germany Agricultural Equipment Market
In March 2023, John Deere announced MY24 updates for its 7, 8, and 9 Series Tractors lineup that will help prepare them for the future of precision agriculture.
AGCO launched the latest Fendt 700 Vario series tractors in August 2022, featuring an upgraded powertrain with VarioDrive transmission and Fendt iD low engine speed concept. This new generation aims to enhance efficiency and productivity for customers.
In June 2022, The CLAAS AXION 900 series of large tractors for contractors and big farms, the new AXION 900 series, is equipped as standard with the updated, continuously variable ZF Terramatic transmission.
John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series in March 2022.
Massey Ferguson launched the MF 6S series tractors in February 2022. This machine provides up to 180 HP with advanced technology.
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Key Company Profiles
John Deere
CNH Industrial
AGCO
Kubota
SDF
CLAAS
Grimme
Fliegl Agro-Center GmbH
KUHN Group
LEMKEN GmbH & Co. KG
APV GmbH
NEXAT GmbH
KIOTI
Sonalika
Yanmar
Market Segmentation
Equipment Type: Tractors (Horsepower and Wheel-Drive), Planting Equipment (Seeder, Planter, and Transplanter), Tillage Equipment (Plough, Harrow, and Tiller), Sprayer, Harvesting Equipment (Combine Harvester and Self-Propelled Forages), Mowing Equipment (Mower and Windrower), and Others (Loaders and Balers)
Application Type: Land Development and Seed Bed Preparation, Sowing and Planting, Plant Protection, Harvesting and Threshing, and Post Harvesting
Key Questions Answered in the Report
How big is the Germany agricultural equipment market?
What is the growth rate of the Germany agricultural equipment market?
What are the expected units sold in the German agricultural equipment market by 2028?
Which application type holds the largest Germany agricultural equipment market share?
What are some significant trends in the Germany agricultural equipment market?
Who are the key players in the German agricultural equipment market?
Check the detailed table of contents of the report @ https://www.arizton.com/market-reports/germany-agricultural-equipment-market?details=tableOfContents
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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