Powered Agriculture Equipment Market Share | Global Industry Growth, Trend, Drivers, Challenges, Key Companies by 2028
The global powered agriculture equipment market is expected to reach a market size of USD 136.55 Billion at a steady CAGR of 6.6% in 2028, according to latest analysis by Emergen Research.
Technological advancements in agriculture equipment is a major factor driving growth of the global powered agriculture equipment market. Manufacturers of powered agriculture equipment are incorporating more advanced technologies such as robotic systems, GPS, navigation systems, sensors, and imaging solutions in farm equipment to cater to farmer needs to increase productivity and crop yields. Adoption of agricultural drones and drones for monitoring production and improving output has been increasing substantially in developed and developing countries in the recent past.
The Global Powered Agriculture Equipment Market Report, published by Emergen Research, comes with an exhaustive analysis of the major segments of the global Industry and estimates the overall market growth over the forecast timeline of 2020-2028. The latest research report can be viewed as a valuable source of viable data and information pertaining to this particular business vertical. It provides a complete overview of the Powered Agriculture Equipment Market industry, considering the future growth analysis, demand, and supply graphs, as well as historical and future costs and revenue generation.
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The pandemic has substantially contributed to the downturn of the Powered Agriculture Equipment Market industry, which has been left financially beleaguered since the beginning of the COVID-19 lockdown. Hence, the report highlights the financial obstacles that have slowed the progress of numerous businesses in this sector and disrupted the supply chains.
Geographical Terrain of the Global Powered Agriculture Equipment Market :
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, the U.K, Russia, and Italy)
- Asia Pacific (China, Japan, Korea, India, and Southeast Asia)
- Latin America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key Highlights of Report
- 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.
The report draws focus on the present economic situations, with an emphasis on the item value, benefit, limit, generation, supply, and market development rate. Additionally, the report includes a SWOT analysis, venture return investigation, and speculation attainability investigation.
Taking into account the existing market development factors, historical events, and recent market trends, the study presents a balanced opinion on the future scenario of the global Powered Agriculture Equipment Market . It thus supports its opinion by discussing the key corporate strategies, such as mergers & acquisitions, takeovers, joint ventures, and strategic alliances, used by the market players to strengthen their global footprint.
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.
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Research Methodology
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection, along with other analytical tools like SWOT Analysis and Porter’s Five Forces Analysis. The report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the global Powered Agriculture Equipment Market .
The latest research report specializes in the in-depth analysis of the macroeconomic and microeconomic factors affecting the global Powered Agriculture Equipment Market development. The report also concentrates on the regulatory framework that is shaping the future of the global market. New and existing pricing structures, emerging application areas, and upcoming investment opportunities have also been detailed in the report.
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
The latest report elaborates on the current COVID-19 impact on the global economy, as well as this specific business vertical, with an in-depth analysis of the present and future effects of the outbreak. Our analysts speculate that the Powered Agriculture Equipment Market will regain traction in the post-COVID-19 market situation.
Analytical Tools Analysis: The report discusses the leading market participants and their market scope, leveraging various analytical tools. Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis, are some of the analytical tools used by researchers for this market study.
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
Continue..!!
The report aims to answer the most common queries related to the global Powered Agriculture Equipment Market :
- What is the scope of innovation in the current market landscape?
- What are the current trends dictating global market growth?
- What is the projected value of the market in 2028?
- Which regional market is expected to witness the highest CAGR during the forecast period?
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