Major players in the powered agriculture equipment market are AGCO Corporation, John Deere, Mahindra & Mahindra Limited, CNH Industrial N. V. , Kubota Corporation, CLAAS Group ltd, Alamo Group Inc. , Escorts Limited, Iseki & Co.
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Powered Agriculture Equipment Global Market Report 2022" - https://www.reportlinker.com/p06323505/?utm_source=GNW
, Ltd., SDF Group, Trimble Inc, Parrot SA, Harvest Automation Inc., PrecisionHawk, and Tirth Agro Technology Private Limited.
The global powered agriculture equipment market is expected to grow from $81.31 billion in 2021 to $87.29 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The powered agriculture equipment market is expected to grow to $116.55 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%.
The powered agriculture equipment market consists of sales of powered agriculture equipment by entities (organizations, sole traders, and partnerships) used by the farmers for cultivation in farming that includes cultivation, weeding, sowing, and tillage. Powered agriculture equipment refers to the tools that farmers used in farming and agriculture.
The main types of products in the powered agriculture equipment include tractors, combine harvesters, sprayers, soil preparation and cultivation equipment, seed drill, and other product types.A tractor refers to a low-speed, high-power traction vehicle designed for use off the road.
The types of propulsions in powered agriculture equipment include battery-electric and hybrid-electric. The different power outputs of powered agriculture equipment include <30 hp, 31–70 hp, 71–130 hp, 131–250 hp, and >250 hp. The various applications of powered agriculture equipment include harvesting, sowing and planting, spraying and fertilizing, and other applications.
Asia Pacific was the largest region in the powered agriculture equipment market in 2020. The regions covered in the powered agriculture equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The powered agriculture equipment market research report is one of a series of new reports that provides powered agriculture equipment market statistics, including powered agriculture equipment industry global market size, regional shares, competitors with a powered agriculture equipment market share, detailed powered agriculture equipment market segments, market trends and opportunities, and any further data you may need to thrive in the powered agriculture equipment industry. This powered agriculture equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Increasing demand for organic food is expected to propel the growth of the powered agriculture equipment market going forward.Organic food refers to food that is certified to have grown on soil that had no prohibited substances applied for three years prior to harvest.
The rapid growth in organic food is expected to boost demand for powered agricultural equipment, as commercial farmers are investing in advanced equipment to reduce their operational expenditure and increase profits.For instance, according to the United States Department of Agriculture, a US-based federal executive department responsible for developing and executing federal laws related to farming, organic products are available in about 20,000 natural food stores and nearly 3 out of 4 conventional stores in the US.
Therefore, increasing demand for organic food is expected to boost demand for powered agriculture equipment during the forecast period.
Product innovation is a key trend gaining popularity in the powered agriculture equipment market.Many companies operating in the powered agriculture equipment market are developing new products to increase crop productivity and household incomes.
For instance, in January 2022, John Deere, a US-based manufacturer of agricultural machinery, showcased a fully autonomous tractor during a press conference at CES 2022.The self-driving tractor has a specific purpose of feeding the globe.
The autonomous tractor is equipped with six stereo cameras that allow for 360-degree obstacle detection and distance computation.
In March 2019, AGCO Corporation, a US-based agricultural machinery manufacturer partnered with Solinftec.This partnership is expected to give AGCO customers direct access to Solinftec’s portfolio of solutions including onboard computers, weather stations, soil sensors, telemetry networks, proprietary algorithms, and the real-time generation of actionable insights generating operational efficiency and agronomic efficacy.
Solinftec is a US-based developer of digital agriculture solutions operating in the powered agriculture equipment market.
The countries covered in the powered agriculture equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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