Press release
Plows Market Report 2024: Growth, Trends, Analysis, Forecast 2033
Plows Market
As per the report, the plows market size has grown strongly in recent years. It will grow from $0.99 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The plows market size is expected to see strong growth in the next few years. It will grow to $1.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Rising Global Population Boosting The Plows Market Growth
The expected rise in population that drives demand for agricultural products contributed to the growth of the plows market. According to the United Nations Organization, the worldwide population is expected to reach 9.7 billion by 2050 from 7.7 billion in 2020. With the population growth, consumption of foods will increase and boost the demand for the agriculture sector and agricultural products such as plows. The population growth in the next 30 years is expected to drive the growth of the plows market during the forecast period.
Introduction Of New Plough Designed For High Horsepower (HP) Tractors
Major companies operating in the plow market are introducing new ploughs, such as the Servo T 6000 that offer hitched up to 500hp tractors. Servo T 6000 is an advanced plough equipped with a revamped main beam section and a new Nova stone protection system for optimized reliability. For instance, in November 2021, Pottinger, an Austria-based company that manufacturer specializing in agricultural machinery, launched Servo T 6000. It offers variants with furrows ranging from six to nine and includes features like hydraulic stone protection with an adjustable triggering pressure of up to 2,200kg. The design ensures continuous ploughing, offers choices in point-to-point spacing, and underframe clearance, and has an optional active traction control system for enhanced weight transfer from the plough to the tractor. This plough is specifically designed to be hitched to tractors boasting up to 500hp.
The plows market covered in this report is segmented -
1) By Product Type: Reversible Plow, Disc Plow, Ridge Plow, Chisel Plow, Moldboard Plow
2) By Technology: Classic Plows, Modern Plows
3) By Application: Large Farm, Private Farm
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Major companies operating in the plows market report are CNH Industrial India Pvt. Ltd., AGCO Corporation, Deere & Company, BEDNAR FMT s.r.o., UNIVERSAL TRUCK EQUIPMENT INC., ISEKI & CO. LTD., KUHN SAS, Douglas Dynamics LLC, BOSS Snowplow, Amazonen-Werke G. Dreyer Maschinenfabrik GmbH, Woods Equipment Company, Western Products LLC, Meyer Products LLC, Fisher Engineering, Kongskilde Industries A/S, Monashee Manufacturing Corp., PJB Industries Inc., Bomet Sp. z o.o. Sp.K, Agrimir, Baldan Machinery, AGRO-MASZ Agriculture sp. z o.o., Aratri EMMEGIEMME Srl, Ünlü Ziraat Aletleri A.S, FALC S.p.A., BLIZZARD Snow Plow, Ebling Manufacturing Inc., Sno-Gate, KAGE Manufacturing LLC, Falls Legal LLC, Kubota Corporation, Mahindra & Mahindra Ltd.
Contents of the report:
1. Executive Summary
2. Plows Market Report Structure
3. Plows Market Trends And Strategies
4. Plows Market - Macro Economic Scenario
5. Plows Market Size And Growth
…..
27. Plows Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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