Global Powered Agriculture Equipment Market is Projected to Grow at a CAGR Over 1.48% Post 2022

Market Overview

The need for agriculture equipment is gradually rising due to constraining factors such as rising global population, growing labor shortage and rural wages. The increasing mechanization in agriculture provides with the solution of the above issues and offers the scope of maximizing production and productivity both. The rising farm income is the major factor driving the end users to adopt more of the agriculture equipment. The agriculture equipment market has been categorized into key equipment, namely: tractors, combine harvesters, sprayers, forage harvesters, and sugarcane harvesters. In this report, the market share and size of these agriculture equipment have been tracked.

Market Forecast-

Global Powered Agriculture Equipment Market is estimated to grow at a CAGR of 1.48% from 2016 to 2022.

The sales of tractor market was 1.77 million units in 2012, which increased by 15% in 2013. The market, however, declined by 2.5% in 2014 and further went down to 2.8% in 2015. However, this sales volume is predicted to increase and reach 2.286 million units by 2022. The sales of combine harvester was 0.056 million units in 2012, which increased by 7.6% in 2013. The market then declined by 18.9% in 2014 and further 4.9% in 2015. However, this sales volume is predicted to increase and reach more than 50,000 units by 2022.The sales of sprayers was more than 14,000 units in 2012, increased by 10.45% in 2013. Later the market declined by 7.5% in 2014 and increased by 1.24% in 2015. However, this sales volume is predicted to increase and reach more than 16,000 units by 2022.

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Market Segmentation-

Global Powered Agriculture Equipment Market is segmented by equipment and region.

Key Players and Competitive Analysis-

The major key players in powered agriculture equipment market are

• AGCO Corporation
• Alamo Group
• Claas Group
• CNH Industrial NV
• Deere & Company
• Escorts Group
• ISEKI & Company Limited
• Kubota Corporation
• General Hydroponics
• Mahindra & Mahindra (M&M)
• Deutz-FAHR Group S.P.A.

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Downstream Analysis-

The agriculture equipment industry involves adoption of the equipment to ensure faster and better yields with available resources. Therefore, new entrants in this industry need to invest to a large extent on research & development and purchase of the new equipment in the market, to ensure successful launch of the equipment, which further adds to the capital intensiveness of the industry. The technological advancements have presented the opportunity to innovate the products. The bargaining power of suppliers because of product differentiation has been identified as medium which is expected to become high through the forecast period with more and more technological innovations.

Regional Analysis

The highest sale of self-propelled sprayers has been in the U.S., followed by Brazil and India. The unit of self-propelled sprayers sold in the U.S. in 2013 was more than 5,000, which decreased to 4,000 units in 2014. The sale increased by 0.09% in 2015 and reached more than 5,100 units and is estimated to decrease by 2.38% by the end of 2016. This is due to the reason that the market for Crop Protection Products (CPP) for improving and maintaining the yield of crops is also huge in the U.S. More than 60% of the total arable land area in the country is treated with these CPP. For this purpose sprayers are used to a great extent. The agriculture sprayers market is highly price sensitive in India. The high priced sprayers are limited in the country while there is tough competition on the opposite side of the market due to the presence of products and players from China and Taiwan. There are more than 100 suppliers in India owing to the fact that it does not require large scale set up for manufacturing of agricultural sprayers.

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