Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Germany Agriculture Equipment Market - Industry Analysis & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Germany agricultural equipment market is expected to grow at a CAGR of 3.54% from 2022-2028.
Germany boasts over 83.3 million food consumers making it the largest food market in Europe. The nation has recently witnessed a substantial surge in farm mechanization, significantly enhancing agricultural and industrial productivity.
This growing adoption of advanced farm mechanization practices within Germany has become a driving force behind the increased sales of new farming equipment. Notably, agricultural implements reign supreme as the primary product category within the organized agriculture market of Germany.
Leading the charge in the German agricultural equipment market in 2022 were industry giants John Deere, CNH Industrial, and AGCO, collectively commanding an impressive industry share exceeding 40%. These prominent brands have strategically employed various approaches to establish their dominance in the market. Furthermore, the industry landscape is teeming with well-established players offering their diverse product range, tailored for applications spanning open fields, vineyards, and other agricultural settings.
Looking ahead, fierce competition is anticipated to further intensify during the forecast period. This escalation will be driven by an upsurge in product and service expansions, continuous technological advancements, and a flurry of mergers and acquisitions. Analysts foresee a future where global players will thrive by forming strategic partnerships rooted in technology sharing, often collaborating with regional or local counterparts.
In 2022, the Germany agricultural equipment market experienced a commendable growth rate of 3.1% compared to the previous year, primarily attributed to the favorable climatic conditions that prevailed during the year. These conditions culminated in heightened crop production and increased sales of agricultural equipment.
The German government is actively rolling out schemes and initiatives aimed at streamlining credit accessibility and enhancing operations within the agriculture sector. These initiatives are poised to play a pivotal role in bolstering the overall value chain of the industry.
Germany's commitment to sustainable agriculture is underscored by the "Positive Agriculture Project," which strives to elevate the living standards of those within the agricultural supply chain while ensuring the sustainable provision of essential equipment. This initiative aligns seamlessly with Germany's broader goal of reducing total greenhouse gas (GHG) emissions by 40% by 2030 and achieving carbon neutrality by 2040. The adoption of energy-efficient agricultural equipment stands as a crucial enabler for realizing these ambitious environmental objectives.
Germany is home to a robust domestic agricultural equipment manufacturing sector, boasting more than 20 manufacturing plants that cater to both domestic and international markets. This thriving industry is further fortified by a competitive labor force, advantageous power and fuel rates, and a favorable tax regulatory framework, collectively fostering an economically conducive environment for investments in production.
INSIGHTS BY EQUIPMENT TYPE
The tractor equipment type has the highest demand in the Germany agricultural equipment market, holding a share of more than 47%.
The demand for high-power tractors is largely driven by medium and large-scale farmers and government institutions that focus on rental services, as many farmers in the country have more than ten hectares of land. Furthermore, Germany, a leader in the automotive and engineering industries, will likely be at the forefront of such technological advancements.
Several companies and startups are working on developing electric and sustainable agricultural machinery, including electric tractors, to cater to the increasing demand for eco-friendly solutions in agriculture.
INSIGHTS BY APPLICATION TYPE
Post Harvesting application type has accounted for the largest Germany agricultural equipment market share, accounting for more than 37% in 2022.
Farmers use post-harvest machinery and equipment to transform themselves into more producer-cum-processor with the help of post-harvest technologies appropriate for cost, time, and labor savings toward enhancement of quality and marketability to their production by value addition and reducing post-harvest costs.
KEY QUESTIONS ANSWERED:
- How big is the Germany agricultural equipment market?
- What is the growth rate of the Germany agricultural equipment market?
- What are the expected units sold in the German agricultural equipment market by 2028?
- Which application type holds the largest Germany agricultural equipment market share?
- What are some significant trends in the Germany agricultural equipment market?
- Who are the key players in the German agricultural equipment market?
Industry Overview
- Value Chain Analysis
- Distribution Channels For Farm Equipment
- Financing Options For Acquiring Farm Machinery
- Swot Analysis Of Germany Agricultural Equipment Industry
- Government Support To Farmers
- Increasing Adoption Of Precision Farming
- Agricultural Land-Holding Structures
- Technological Advances
Market Opportunities & Trends
- Technological Advances In Agricultural Equipment Technology
- Swath Control And Variable Rate Technology
- High Demand For Autonomous Equipment
- Use Of Energy-Efficient Agri Equipment
- High Local Production Capacities In Germany
Market Growth Enablers
- Assistance To Farmers Through Loans & Subsidies
- Increased Agricultural Productivity & Exports
- Increased Farm Mechanization
- Shortage Of Agricultural Laborers
Market Restraints
- Lack Of Awareness Of Latest Innovations In Agricultural Equipment
- High Demand For Used & Rental Agri Equipment
- Climate Change Adversely Impacts Agricultural Activities
Key Company Profiles
- John Deere
- CNH Industrial
- AGCO
- Kubota
Other Prominent Vendors
- SDF
- CLAAS
- Grimme
- Fliegl Agro-Center GmbH
- KUHN Group
- LEMKEN GmbH & Co. KG
- APV GmbH
- NEXAT GmbH
- KIOTI
- Sonalika
- Yanmar
For more information about this report visit https://www.researchandmarkets.com/r/3w1cwl
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