Newark, May 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 12.32 Billion planting equipment market will reach USD 25.39 Billion by 2033. Technological advancements and strategic initiatives by the private players may fuel the growth of the Planting Equipment Market. Farmers greatly benefit from technological advancements in planting and harvesting equipment, including big data, AI, and IoT technologies. Encouraged and mandated to adopt these tech-enabled farming tools like GPS-equipped tractors and telematics, they witness the advantages firsthand. The global agricultural equipment market thrives on extensive innovation, substantial financial investment, and the widespread adoption of diverse agricultural technologies.
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Planting Equipment Market Size by Type (Planters, Air Seeders, Seed Drills), Crop Type (Grains and Cereals, Pulses and Oilseeds, Vegetables and Fruits), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
Scope of Planting Equipment Market
| Report Coverage | Details |
| CAGR | 7.5% from 2024 to 2033 |
| Market Size in 2023 | USD 12.32 billion |
| Market Size by 2033 | USD 25.39 billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Type, Crop Type, Regions |
North America emerged as the largest global Planting Equipment market, accounting for 40% of the total market. Owing to well established agriculutral industry and rapidly growing technological advancements in the region. Whereas Asia Pacific exhibits the highest growth rate in the market owing to a rapidly growing global population and increasing food production in the region.
In 2023, the seed drills segment held a commanding 45% market share and is anticipated to be the fastest-growing segment
In 2023, the seed drills segment held a commanding 45% market share and is anticipated to be the fastest-growing segment. With agriculture moving towards mechanization, farmers are embracing advanced equipment like seed drills to elevate production. Seed drills facilitate precise seed planting, optimizing spacing and seed-to-soil contact, ultimately minimizing waste and maximizing crop yields. They have become essential instruments in modern farming methodologies.
Cereals and grains dominate the market, commanding a significant 41.32% market share in 2023 and projected to be the fastest-growing segment.
Cereals and grains dominate the market, commanding a significant 41.32% market share in 2023 and projected to be the fastest-growing segment. The increasing cultivation of grains and cereals worldwide is fueled by farmers adopting improved agricultural practices, such as utilizing seed drills for seed planting, contributing to expanded cultivated land areas.
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Latest Development:
• In January 2023, Deere Company unveiled two new technologies, ExactShot and an electric excavator, aimed at enhancing productivity, profitability, and sustainability for its customers.
• In November 2022, Mahindra & Mahindra inaugurated the first dedicated farm machinery plant in Pithampur. Strategically located with access to a diverse supplier base, this facility enables the manufacturing of durable, high-quality, affordable, and accessible farm machinery under the 'Made in India, for India' initiative, marketed under both Mahindra & Swaraj brands.
• In March 2021, AGCO announced a direct partnership with Solinftec to offer AGCO customers groundbreaking operational insights. This collaborative solution reduces idle time, increases revenue-generating activities, and enhances service quality for farmers.
Market Dynamics
Drivers: Rapidly growing demand for modern agricultural
As farmers embrace advanced machinery over traditional methods, the demand for agricultural planting equipment is surging. This shift promises to reduce manual labor and enhance efficiency and product quality. The integration of technology tools like seeding and harvesting equipment is pivotal in modernizing agriculture. With these innovations becoming more widespread, a significant uptick in sales of agricultural planting equipment is foreseen.
Restraints: Lack of agricultural land across the globe
The scarcity of agricultural land due to poverty, low per-person output, and increasing landlessness is leading to reduced farming areas. Changes in land cover, influenced by these factors, are erasing the typical agricultural landscape and limiting crop diversity for farmers. Additionally, insufficient time for farmland to recover between crop seasons results in minimal harvest opportunities. The planting equipment market is significantly hindered by the lack of consolidated agricultural areas, constraining operations and decreasing agricultural output.
Opportunities: Technological advancements
Farmers greatly benefit from technological advancements in planting and harvesting equipment, including big data, AI, and IoT technologies. Encouraged and mandated to adopt these tech-enabled farming tools like GPS-equipped tractors and telematics, they witness the advantages firsthand. The global agricultural equipment market thrives on extensive innovation, substantial financial investment, and the widespread adoption of diverse agricultural technologies.
Challenge: Increased price of Planting equipment in the market
Elevated equipment costs can create financial hurdles for farmers, especially smallholders and those with limited budgets. The substantial initial investment needed to acquire planting equipment may deter them from embracing contemporary agricultural methods. This obstacle can impede their capacity to modernize farming practices effectively.
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Some of the major players operating in the Planting Equipment market are:
• AGCO Corporation
• Deere & Company
• Kinze Manufacturing Inc
• Buhler Industries Inc
• Bourgault Industries Ltd
• Case IH Agricultural Equipment Inc
• SeedMaster Manufacturing Ltd
• Seed Hawk Inc
• Mahindra and Mahindra
• Apex.AI
Key Segments cover in the market:
By Type:
• Planters
• Air Seeders
• Seed Drills
By Crop Type:
• Grains and Cereals
• Pulses and Oilseeds
• Vegetables and Fruits
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About the report:
The global Planting Equipment market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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