Selbyville, Delaware, March 18, 2020 (GLOBE NEWSWIRE) --
According to latest report “Agriculture Equipment Market by Product (Farm Tractor [By Product {Sub-Compact Utility Tractor, Compact Utility Tractor, Specialty Tractor}, By Horsepower {< 30 HP, 31-100 HP, 101-200 HP, > 200 HP}], Harvesting Machinery [Combine Harvester, Forage Harvester, Thresher, Reaper], Plowing & Cultivation Machinery [Ploughs, Harrows, Cultivators & Tillers], Planting & Fertilizing Machinery [Seed Drills, Planters, Spreaders, Sprayers], Haying Machinery [Balers, Mower-Conditioner, Tedders & Rakes]), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of agriculture equipment will reach $230 billion by 2026.
The agriculture equipment market growth is attributed to increase in disposable income, rapid industrialization, and a rise in demand for high-quality food products. Supportive government initiatives to increase the agriculture sector output is further expected to propel market growth.
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The planting & fertilizing equipment segment will grow at 6% CAGR from 2020 to 2026 owing to several advantages offered by the equipment over manual fertilizing and planting techniques. Self-propelled spreaders & sprayers ensure faster operations and cover more area per day. These machines ensure uniform distribution of protectants & nutrients to reduce costs and improve crop yields.
There are several types of machine-operated sprayers that include high-pressure, low-pressure, fogger, and air-carrier types. Sprayers are also available as self-propelled or manual, aerial, and tractor-mounted types. Trailed or mounted sprayers offer a number of advantages to modern farmers, allowing greater versatility in operations.
The seed drill segment is expected to grow exponentially in the agriculture equipment market during the forecast timespan due to accuracy offered by the seed drilling equipment in farming. A seed drill sows the seeds, positions them in the soil, and covers them to a certain depth. It sows seeds at a proper depth and at an equal distance, thereby improving productivity.
With the optimal soil disturbance and consistent & precise distribution of seeds, agriculturalists benefit from enhanced root-growth. The use of planters to increase planting precision will also favor the planting and fertilizing equipment market growth. The incorporation of advanced technologies in planters will further improve their functionality.
The haying machinery shipments are anticipated to grow at around 2% through 2026 owing to rising demand for mower conditioners in farming activities. Mower conditioners maneuver quickly and mow cleanly to accelerate hay & forage making. They are built with durable parts to withstand rough conditions for every-day use. Balers are also used in precision agriculture due to companies working on improving the functionalities of balers.
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The North America agriculture equipment market revenue will exceed USD 45 billion by 2026 due to increasing adoption of advanced equipment in the agricultural sector. The U.S. farmers are at the forefront of adopting advanced tools to improve the yield of their produce. In the U.S., almost all large farms, tractors, harvesting tools, and haying tools are integral to the environment. They are also adopting combine harvesters, spreaders, drills, and specialty tractors to meet the growing demands of consumers. These machines are integrated with GPS tracking systems and other telematics to collect data on temperature, climate, speed of the tractor, etc.
This enables farmers to evaluate all the stages of production, making the overall crop management efficient and driving the agricultural equipment market. The developed technology landscape of the region coupled with the region’s tendency to adopt advanced products rapidly. The presence of several major players from the U.S. working on strengthening their market presence by expanding their product portfolio will further boost the market in the region.
Some major findings of the agriculture equipment market report include:
- The increasing demand for tillers and cultivators that facilitate the preparation of soil for planting is expected to boost the market growth. This machinery also allows the removal of weed with ease.
- The planting equipment segment will witness robust growth in the coming years due to increasing demand for planters that reduce planting time.
- Manual spreading and spraying techniques can often lead to uneven distribution of fertilizers that can further impact soil quality. There is a strong demand for sprayers and spreaders owing to the uniform fertilizer distribution guaranteed by the machinery.
- The mechanization of farming activities that facilitate an increase in throughput and reduce the need for human labor is supporting the agriculture equipment market growth.
- Major players in the industry such as AGCO Corporation, Deere & Company, CNH Industrial N.V., etc., compete with several large national & international full-line suppliers along with several specialty manufacturers with different marketing and manufacturing techniques.
Table of Contents (ToC) of the report:
Chapter 3 Agriculture Equipment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2026
3.3 Industry ecosystem analysis
3.4 Technology landscape
3.5 Regulatory landscape
3.6 Innovation landscape
3.8 Industry impact forces
3.9 Growth potential analysis
3.10 Price trend analysis, 2016 – 2026
3.11 Porter’s analysis
3.12 Competitive landscape, 2019
3.13 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/agriculture-equipment-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers. https://www.gminsights.com/gmipulse