The global powered agriculture market was valued at $57.39 billion in 2021, which is expected to grow with a CAGR of 5.02% and reach $73.32 billion by 2026

Impact of COVID-19 As the COVID-19 pandemic forces countries to close their borders, the agricultural sectors are facing major challenges. Even in regions and countries that are unlikely to face food crisis, such as those in North America and Europe, there is also a lack of labor as new challenges keep unskilled workers out.

New York, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Powered Agriculture Equipment Market: Focus on Equipment, Application, and Country Analysis - Analysis and Forecast, 2019-2026" - https://www.reportlinker.com/p06219257/?utm_source=GNW


Also, COVID-19 travel restrictions across countries have led to an immediate shortage of seasonal farm labor due to the COVID-19 pandemic. This has had a heavy impact, especially in the ongoing harvest season and the upcoming planting season across the world.

Market Segmentation

Powered Agriculture Equipment by Equipment Type

The powered agriculture equipment comprises a wide range of solutions such as tractors, sprayers, planters, combines, and other equipment such as balers and tilling equipment.Farm tractors account for the largest share in the market, followed by combine harvesters, planters, and sprayers, in that order in 2021.

The adoption of powered agriculture equipment is increasing among farmers to improve yield, operational efficiency, soil fertility, and profitability.

Powered Agriculture Equipment by Region

In 2021, Asia-Pacific and Japan led the global powered agriculture equipment market, with a large market concentration in India.Trends such as high population growth, increasing disposable incomes, and booming urbanization in the Asia-Pacific and Japan region have resulted in a robust evolution in the consumption patterns amongst the population of the region.

Hence, farmers of the region are focusing on increasing crop yield and having an all-year-round supply of agricultural produce to meet the escalating demand.

Key Market Players and Competition Synopsis

Some of the key players operating in the market Kubota Corporation, AGCO Corporation, Deere & Company, CLAAS Group, CNH Industrial N.V., ISEKI & CO. Ltd., Robert Bosch GmbH, Mahindra & Mahindra Ltd., Trimble Inc., SDF Group, Parrot S.A., Harvest Automation, PrecisionHawk Inc., Tirth Agro Technology Private Limited, Kinze Manufacturing, Yanmar Holdings Co. Ltd., ZETOR Tractors., among others.

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (holding 50-60% of the market), mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the Powered Agriculture industry.

Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Europe
• Italy
• France
• Germany
• Spain
• Rest-of-Europe
• U.K.
• Middle East and Africa
• China
• Asia-Pacific
• Japan
• India
• South Korea
• Australia
• Rest-of-Asia-Pacific
• South America
• Brazil
• Argentina
• Rest-of-South America
Read the full report: https://www.reportlinker.com/p06219257/?utm_source=GNW

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