Growing demand for food due to rapidly growing global population and declining availability of arable land and climate change are some key factors driving global market growth.
Vancouver, BC -- (SBWIRE) -- 04/22/2021 -- The Global Powered Agriculture Equipment Market study includes a profound analysis of this business sphere focusing on the overall remuneration over the projected period, as well as scrutinizing every single industry segment at length. It is further inclusive of significant information related to the industry size and the current market scenario. The report presents an overview of the key drivers, opportunities, and restraints of the market, which clearly define its position on a global level.
The powered agriculture equipment market in Asia Pacific is expected to register a rapid revenue growth rate during the forecast period. This high revenue growth rate can be attributed to rising need to enhance agricultural productivity and crop yield, rapidly growing population in countries in the region, and increasing deployment of more advanced equipment and machinery in the agriculture sector. The powered agriculture equipment market in North America is expected to account for a significantly high revenue share during the forecast period.
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Key Highlights of Report
In February 2021, AGCO Corporation, which is a global leader, manufacturer, and distribution of agricultural machinery and solutions, announced that it had joined the NEVONEX partner network, which is powered by Bosch, as part of the continued strategy of AGCO. The partnership with Bosch is expected to help AGCO make data management easier for farmers.
Tractors segment accounted for largest market share of 49.4% in 2020. Incentives and subsidies provided by the government to encourage farm mechanization have been driving the adoption of tractors in the agricultural sector during the forecast period.
The agricultural unmanned aerial vehicles or agricultural drones segment revenue is expected to expand at a rapid CAGR of 7.5% during the forecast period. The rising need for monitoring overall crop health and managing livestock and monitoring for health issues are contributing to the growing sales of agricultural drones in the agriculture sector.
Asia Pacific accounted for largest revenue share contribution to the global powered agriculture equipment market in 2020. Increased shortage of labor on farms due to migration to other sources of employment for higher wages is contributing to the growth of the powered agriculture equipment market in the region.
Key players in the market include AGCO Corporation, John Deere & Co., Mahindra & Mahindra Limited, CNH Industrial N.V., Kubota Corporation, CLAAS, Alamo Group Inc., Escorts Group, Iseki & Co., Ltd. and SDF S.P.A.
Powered Agriculture Equipment Market Segmentation:
Emergen Research has segmented the global Powered Agriculture Equipment market on the basis of type, next generation equipment, and region:
Type Outlook (Revenue, USD Billion; 2021–2028)
Combine Harvesters
Tractors
Seed Drill
Soil Preparation & Cultivation Equipment
Sprayer
Others
Next Generation Equipment Outlook (Revenue, USD Billion; 2021–2028)
Harvesting & Picking Robots
Agricultural Unmanned Aerial Vehicles or Agricultural Drones
Driverless Tractors
Electric Tractors
Others
Key Regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Elucidating the competitive scenario of the Global Powered Agriculture Equipment Market:
The comprehensive global Powered Agriculture Equipment market analysis includes meaningful insights into the competitive spectrum of this business sphere. It goes on to enlist the detailed profiles of each market competitor.
The latest report includes the industry share, production facilities, development prospects,and geographies served by each market player.
The study also showcases the extensive product portfolios of the prominent market contenders and offers critical data and information about the application scope, as well as specifications of these products.
In addition, the study presents the fundamental market insights, pricing range of products offered by these companies, and the gross profits and losses experienced by these players throughout their market tenures.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Powered Agriculture Equipment Market Segmentation & Impact Analysis
4.1. Powered Agriculture Equipment Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Favourable Government initiatives
4.2.2.2. Increasing demand for farm mechanization
4.2.2.3. Growing demand for increased agricultural productivity
4.2.2.4. Increasing adoption of advanced technologies
4.2.3. Market restraints analysis
4.2.3.1. Lack of awareness among farmers regarding the benefits of powered agriculture equipment
4.2.3.2. High initial investment
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Powered Agriculture Equipment Market By Type Insights & Trends, Revenue (USD Billion)
5.1. Type Dynamics & Market Share, 2020 & 2028
5.1.1. Combine Harvesters
5.1.2. Tractors
5.1.3. Seed Drill
5.1.4. Soil Preparation & Cultivation Equipment
5.1.5. Sprayer
5.1.6. Others
CONTINUED..!!
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