Tractor Implements Market, 2023 by Phase (Tillage, Irrigation and Crop Protection, Sowing and Planting, Harvesting and Threshing), Drive (2-Wheel and 4-Wheel Drive), Power (Powered and Unpowered)
DUBLIN, Dec 3, 2018 /PRNewswire/ --
The "Tractor Implements Market by Phase (Tillage, Irrigation and Crop Protection, Sowing and Planting, Harvesting and Threshing), Drive (2-Wheel and 4-Wheel Drive), Power (Powered and Unpowered), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The tractor implements market is projected to reach USD 76.1 billion by 2023, from USD 57.3 billion in 2018, at a CAGR of 5.84%
The growing population is one of the major factors contributing to the increased demand for food. This, in turn, has led to an increase in the area harvested for important food crops such as rice, soybean, barley, and wheat, especially in the developing regions. For instance, according to the FAO, the production of corn is projected to increase by nearly 600% to reach 1.2 billion MT by 2027.
A majority of this production is expected to arise from countries such as China and Brazil. Increase in the harvested area would further lead to increased use of agricultural equipment. Thus, the demand for agricultural equipment is projected to grow, especially in developing countries in the next decade.
Farm mechanization reduces the drudgery associated with traditional farming methods and contributes to increased land productivity, enhances the timely preparation of land, and reduces the cost of production. Tractors are one of the major agriculture equipment used globally. Different types of implements are attached to tractors during various phases of farming, which efficiently reduces the production cost and time. Thus, the demand for tractor-mount equipment has been increasing, globally.
Additionally, governments in various countries have been promoting agricultural mechanization for sustainable production by offering subsidies, tax exemptions, and investments. For instance, Sub-Mission on Agricultural Mechanization (SMAM) was started by the government of India during the period 2014-15 to promote agricultural mechanization in which training, testing, and demonstration of agricultural machinery, and procurement subsidy was given to farmers. According to the Ministry of Agriculture and Rural Affairs of China, USD 20.7 billion of subsidies were offered to promote the purchase of agricultural machinery such as tractors and implements.
Manufacturers are also heavily investing in R&D activities across all regions, to develop more efficient machinery, which would further augment the growth of the tractor implements market. Powered tractor implements are more efficient as compared to unpowered ones due to which their demand is projected to be higher in the coming years.
Powered tractor implements are majorly used in developed regions such as North America and Europe. In developing regions, due to low farm income and low awareness of farm mechanization, the demand for unpowered tractor implements is high. However, it is projected that with increased government efforts, the demand for powered equipment would increase gradually during the forecast period.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Periodization Considered
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Tractor Implements Market
4.2 Tractor Implements Market, By Phase
4.3 Asia Pacific: Tractor Implements Market, By Key Phase & Country
4.4 Tractor Implements Market, By Power & Region
4.5 Tractor Implements Market, By Drive & Region
4.6 Tractor Implements Market Share, By Key Country
5 Market Overview
5.1 Introduction
5.2 Macroindicators
5.2.1 Urbanization and Declining Agricultural Employment
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Effective Way to Reduce Post-Harvest On-Field Losses
5.3.1.2 High Labor Cost Due to Urbanization
5.3.1.3 High Requirement of Implements During the Land Development Phase
5.3.2 Restraints
5.3.2.1 High Equipment Cost Due to Technology Integration
5.3.2.1.1 Growth in the Market for Used Equipment
5.3.3 Opportunities
5.3.3.1 Increase in the Trend of Hiring Machineries
5.3.3.2 Integration of Technology and Smart Farming
5.3.3.3 Government Subsidiaries for Implements
5.3.4 Challenges
5.3.4.1 Small and Fragmented Fields in Developing Regions
5.4 Regulatory Framework
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.2 European Union
5.4.3 UK
5.4.4 Asia Pacific
5.4.4.1 India
5.4.4.2 China
5.4.4.3 Japan
5.4.5 South America
5.4.5.1 Brazil
5.5 Patent Analysis
6 Tractor Implements Market, By Phase
6.1 Introduction
6.2 Tillage Phase
6.2.1 Shift From Labor-Intensive and Animal-Driven Equipment to Increase the Adoption of Tractor-Mount Equipment for Tillage
6.3 Sowing and Planting Phase
6.3.1 Sowing Implements Would Help in Efficient Usage of Seed Inputs for Optimum Output Per HA
6.4 Irrigation and Crop Protection Phase
6.4.1 Large Industrial Crop Cultivation Area for Corn and Soybean Would Support the Demand for Agricultural Sprayers
6.5 Harvesting and Threshing Phase
6.5.1 Favorable Government Policies in Developing Countries to Increase the Demand for Various Types of Tractor Implements for This Phase
6.6 Others
7 Tractor Implements Market, By Power
7.1 Introduction
7.2 Powered
7.2.1 Powered Equipment Reduces On-Field Human Efforts
7.3 Unpowered
7.3.1 Low Efficiency of Unpowered Equipment is Projected to Hinder the Market Growth
8 Tractor Implements Market, By Drive
8.1 Introduction
8.2 2-Wheel Drive
8.2.1 Implements on 2-Wheel-Drive Tractors are Cheaper and Suitable for Small-Scale Farms in Developing Regions
8.3 4-Wheel Drive
8.3.1 High Functioning of Tractor Implements Suited for 4-Wheel-Drive Tractors is Projected to Witness Strong Growth
9 Tractor Implements Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.1.1 Availability of More Advanced Machinery With Customized Tractor Attachments in the Market
9.2.2 Canada
9.2.2.1 Increase in Harvested Crop Area Drives the Tractor Implements Market in Canada
9.2.3 Mexico
9.2.3.1 The Developing Phase of Agriculture Mechanization in Mexico Provides Huge Scope for the Tractor Implements Industry
9.3 Europe
9.3.1 Germany
9.3.1.1 Acceptance of Highly Advanced Technology Such as Combines and Harvesters Leads to Low Demand for Tractor-Based Implements
9.3.2 France
9.3.2.1 Adoption of Sustainable Agriculture and Precision Farming Could Favor the Development of Tractor Implements
9.3.3 UK
9.3.3.1 Increasing Area Under Industrial Crops Can Drive the Need for Higher Agricultural Operational Efficiency
9.3.4 Italy
9.3.4.1 Slower Decline in Cereal Crop Cultivation and Lower Export Demand for Agricultural Machinery are Expected to Create A Sluggish Market
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 India
9.4.1.1 High Implementation of Tractorization Rather Than Mechanization in India
9.4.2 China
9.4.2.1 High Investment By Key Players Drives the Chinese Tractor Implements Market
9.4.3 Japan
9.4.3.1 Decline in Agricultural Employment has Resulted in Farm Mechanization Growth in Japan
9.4.4 Rest of Asia Pacific
9.4.4.1 Low Government Contribution Results in Lack of Mechanization in Thailand's Agricultural Sector
9.5 South America
9.5.1 Brazil
9.5.1.1 Government Subsidies to Boost the Tractor Implements Market
9.5.2 Argentina
9.5.2.1 Reduction and Elimination of Export Taxes to Boost the Production in Argentina
9.5.3 Rest of South America
9.6 RoW
9.6.1 Africa
9.6.1.1 Low Agricultural Cash Income has Resulted in Low Demand for Tractor Implements in A Challenging Market Such as Africa
9.6.2 Middle East
9.6.2.1 Small Farms and Lack of Training Restrict Agricultural Mechanization in the Middle East
10 Competitive Landscape
10.1 Overview
10.2 Company Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Expansions & Investments
10.3.3 Agreements, Partnerships, and Joint Ventures
11 Company Profiles
11.1 Claas KGaA Mbh
11.2 Deere & Company
11.3 Kubota Corporation
11.4 CNH Industrial N.V.
11.5 Agco Corporation
11.6 Tractors and Farm Equipment Limited (TAFE)
11.7 SDF Group
11.8 Mahindra & Mahindra
11.9 J C Bamford Excavators Ltd. (JCB)
11.10 Actuant
11.11 Kuhn Group
11.12 Alamo Group
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