Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Western and Central Europe Agricultural Machinery Market Report: By Type - Latest Trends, Growth Drivers and Growth Forecast Through 2030" report has been added to ResearchAndMarkets.com's offering.
Driven by the extensive government support for farm mechanization, the Western European agricultural machinery market will grow from an estimated $37,189.4 million in 2021 to $51,758.7 million by 2030, at a 3.4% CAGR between 2021 and 2030.
Similarly, the Central European agricultural machinery market size will increase to $18,853.4 million from an estimated $12,489.2 million, at a 4.3% CAGR.
Because of the rapid urbanization, which is resulting in a reduction in arable land, governments are taking initiatives to help farmers get more from the land they own.
For instance, in France, the government offers $10 billion (EUR 9 billion) to the agrarian community to help them purchase equipment and advanced software that can automate many of the manual agricultural tasks.
Another key reason behind the swift automation of the farming sector is the shortage of laborers, which is resulting in higher wages. For instance, in May 2020, there was a shortage of 200,000; 80,000; and 250,000 farm workers in May 2020 in France, Spain, and Italy, respectively.
The Western and Central European agricultural machinery market is dominated by Germany and the Netherlands, respectively. The revenue in the German market comes from both domestic and international customers since the country is a major exporter of agricultural machines. Similarly, even though agriculture contributes merely around 2% of the Dutch GDP, it is responsible for more than 15% of the country's exports.
The key players in the Western and Central European agricultural machinery market are CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, AGCO Corporation, Kubota Corporation, Argo Tractors Spa, Lely Industries N.V., KUHN Group, Yanmar Co. Ltd., and SDF S.p.A. Apart from key food crops, they are introducing enhanced equipment for the producers of cash crops as well, such as grapes.
Key Findings of Western and Central Europe Agricultural Machinery Market Report
Tractors are the most widely sold among all pieces of equipment in the Western and Central European agricultural machinery market because they allow farmers to plow and pull heavy machinery across large tracts of land.
Therefore, with over 180 million hectares of arable land, Europe displays a vast potential for the usage of tractors in the coming years.
After the pandemic hurt the farming community in 2020, the demand for agricultural machinery picked up in 2021, and it is set to follow a similar trend in the coming years.
This is ascribed to the resurgence of the GDP and the funds granted for digital transformation under the EU's Recovery and Resilience Facility (RRF) initiative.
All this is ultimately being done to feed the growing population in EU countries, which has increased from 356 million in 1990 to 447 million in 2020, as per the World Bank.
Therefore, companies offering farming machinery are launching more-advanced tractors, equipment with battery propulsion, and machines with internet connectivity, to accelerate farm mechanization.
CNH Industrial N.V.
Claas Kgaa Mbh
Deere & Company
Argo Tractors Spa
Lely Industries N.V.
Yanmar Co. Ltd.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Definition of Market Segments
4.1 Definition of Market Segments
4.1.1 by Type
220.127.116.11.1 Compact Utility
18.104.22.168.3 Row Crop
22.214.171.124 Ploughing and Cultivating
126.96.36.199.3 Cultivator and Tiller
188.8.131.52.1 Seed Drill
184.108.40.206 Harvesting Machinery
220.127.116.11.1 Combine Harvester-Thresher
18.104.22.168.2 Forage Harvester
22.214.171.124 Haying and Forage
126.96.36.199 Irrigation Machinery
Chapter 5. Industry Outlook
5.1 Market Dynamics
188.8.131.52 Increasing Adoption of Precision Farming
184.108.40.206 High Farm Mechanization Rates
220.127.116.11 Rising Preference for Agricultural Machinery
18.104.22.168 Rising Cost of Farm Labor
22.214.171.124 Rise in Technological Advancement
5.1.3 Impact Analysis of Drivers on Market Forecast
126.96.36.199 Increasing Demand for Used and Rental Tractors
188.8.131.52 Fluctuating Commodity Prices
5.1.5 Impact Analysis of Restraints on Market Forecast
5.2 Impact of Covid-19
5.3 Porter's Five Forces Analysis
Chapter 6. Business Model of OEMs
6.2 Business Models
6.2.1 Automating Agriculture
184.108.40.206 Automated Vehicles/Tractors
220.127.116.11 Mobile and Web Applications
6.2.2 Precision Farming
Chapter 7. Aftermarket Industry
7.2 Trends Observed in Aftermarket
7.2.1 High Prices of Parts
7.2.2 Electrification Needs Fewer Replacement Parts
7.3 Trade Channels for Wear Parts
7.4 End-Market Price for Equipment's in Agricultural Aftermarket
7.5 Oems Strategy for Increasing Aftermarket Share
7.6 Disruptive After Sales Business Models
Chapter 8. Western Europe Market Size and Forecast
8.1.1 Agricultural Machinery Market Volume, by Type (2015-2030)
8.1.2 Agricultural Machinery Market Revenue, by Type (2015-2030)
8.2 Tractors Market
8.2.1 Market Volume, by Type (2015-2030)
8.2.2 Market Revenue, by Type (2015-2030)
8.3 Ploughing and Cultivating Machineries Market
8.4 Planting Machineries Market
8.5 Harvesting Machineries Market
8.6 by Country
Chapter 9. Central Europe Market Size and Forecast
9.1.1 Agricultural Machinery Market Volume, by Type (2015-2030)
9.1.2 Agricultural Machinery Market Revenue, by Type (2015-2030)
9.2 Tractors Market
9.2.1 Market Volume, by Type (2015-2030)
9.2.2 Market Revenue, by Type (2015-2030)
9.3 Ploughing and Cultivating Machineries Market
9.4 Planting Machineries Market
9.5 Harvesting Machineries Market
For more information about this report visit https://www.researchandmarkets.com/r/3gg301
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