Global Powered Agriculture Equipment Market 2018-2023: Focus on Equipment & Next Generation Agriculture Equipment -

The "Global Powered Agriculture Equipment Market: Focus on Equipment (Tractors, Combine Harvesters, Sprayers, and Planters) and Next Generation Agriculture Equipment - Analysis and Forecast 2018-2023" report has been added to's offering.

Global Powered Agriculture Equipment Market Anticipated to Reach $151.19 Billion by 2023

Farm productivity across the globe has been significantly increasing since the last decade. With the exponential growth of the world population, subsequent rise in global demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical.

The increase in urban population in developing countries with the enhancement of quality of living due to high income levels and the demand for fresh crop produce and animal protein are the major factors boosting the demand for crop production.

Limited availability of natural resources, such as fresh water and arable land, along with declining yield trends in several staple crops, have prompted growers and companies in the farming sector to introduce innovative agriculture equipment in order to enhance farm profitability.

The farming industry has witnessed numerous revolutions over decades starting from the domestication of livestock and crops to the organized use of crop rotation with the help of new farming techniques. This was followed by the large-scale usage of fertilizers and pesticides and systematic breeding called the green revolution. Finally, with the introduction of Information and communication technologies (ICT) in farming since the last decade, the farming industry has been witnessing another revolutionary phase.

Over the last decade, the agriculture equipment market has witnessed a steady growth in terms of technological advancement and cost reduction. Moreover, the rapid development of contract farming services and corporate partnerships has led to the increased demand for powered agriculture equipment across the globe.

Another looming concern over the farming industry is the changing structure of agricultural workforce. Numerous countries across the world are witnessing an increase in average age of farmers. According to 2012 Census of Agriculture, the average age of a farmer in the U.S. was 58, which has increased by 8 years, since 1982. According to the Labor Force Survey of 2016, 59.2% of the working population were 40-64 years old in the European Union countries.

Alarmingly, the average age of farmers in Japan was found to be 65.8 in 2013, as per the Tokyo Foundation for Policy Research. Agricultural labor in most of the countries has declined as well. As per World Bank, the East Asia and Pacific region has witnessed a decline from 51% in 1991 to 21% in 2017, whereas Latin America and the Caribbean Countries witnessed a shift from 25% in 1991 to 14% in 2017.

Subsequently, change in structure of agricultural workforce has made farm labor expensive across the world over time. This change in the global aging demographic has eventually triggered the adoption of powered agriculture equipment.

The powered agriculture equipment market is projected to grow from $XX billion in 2017 to $151.19 billion by 2023, at a CAGR of XX% from 2018 to 2023. High growth in the market is expected to be driven by the increasing need for increasing agriculture production and reducing the requirement of manual labor. Moreover, the global powered agriculture equipment market has been strongly motivated by the substantial support of the government in terms of investments, favorable initiatives, and trade policies.

The powered agriculture equipment market encompasses a wide array of solutions such as tractors, combines, planters, sprayers, and other equipment such as tilling equipment, haymaking equipment and balers. Farm tractors accounted for the largest share in the market, followed by a combine harvester, planters and sprayers. Farmers across the globe are increasingly adopting powered agriculture equipment to improve the yield, soil fertility, operational efficiency, and profitability.

The demand for next-generation powered agriculture equipment is growing due to the increasing applications in the farming industry. Farmers across the world are using auto-guided tractors to reduce multiple trips for farm monitoring, hence reducing crop damage, and fuel consumption.

Some of the major next-generation agriculture equipment penetrating the market are drones, harvesting robots, and driverless tractors. These equipment are witnessing gradual adoption by the farmers especially in the U.S., Australia and Germany. Some other emerging agriculture equipment is robotic sprayers and weeding robots.

The trends of the powered agriculture equipment market vary across different geographical regions. The powered agriculture equipment market holds a prominent share in various countries of the Americas, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). In 2017, Asia-Pacific was at the forefront of the global powered agriculture equipment market, with huge market concentration in China and India.

Competitive Landscape

The competitive landscape for the powered agriculture market demonstrates an inclination toward companies adopting strategies such as product launch and development. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio.

Deere and Co., CNH Industrial, AGCO Corporation, CLAAS Group, Kinze Manufacturing Inc., ISEKI Group, Mahindra & Mahindra, and Escorts Group, among others, are the prominent players in the powered agriculture equipment market.

The market is highly fragmented with the presence of a huge number of small-sized to medium-sized companies that compete with each other and the large enterprises.

Key players operating in this market have ramped up their product launch activities over the recent years, in order to generate public awareness about their existing and new products and technologies and to compete with the competitors' product portfolio. This has been the most widely adopted strategy by the players in this market.

For instance, in December 2017, AGCO Corporation's brand Massey Ferguson launched a new self-propelled sprayer, MF 9130 Plus. In September 2017, Escorts Group introduced a new electric & hydrostatic concept tractor to expand its portfolio of tractors for the export and domestic market.

Key Topics Covered

Executive Summary

1 Market Dynamics

1.1 Market Drivers

1.1.1 Rising Demand for Farm Mechanization

1.1.2 Cost - Effective Farming Solutions

1.1.3 Favorable Government Initiatives

1.2 Market Restraints

1.2.1 High Initial Investment

1.2.2 Lack of Infrastructure in Emerging Economies

1.3 Market Opportunities

1.3.1 Increasing Growth Opportunities in the Developing Countries

1.3.2 Advent of Artificial Intelligence and Machine Learning Solutions

1.3.3 Integration of Telematics and GPS Technology

2 Competitive Landscape

2.1 Key Market Developments and Strategies

2.1.1 New Product Launches and Developments

2.1.2 Business Expansions and Contracts

2.1.3 Partnerships, Collaborations and Joint Ventures

2.1.4 Mergers and Acquisitions

2.1.5 Others (Awards and Recognition)

2.2 Market Share Analysis

3 Industry Analysis

3.1 Impact of Precision Agriculture

3.2 Consortiums in Agricultural Equipment Market

3.3 Supply Chain Analysis

3.4 Upcoming Trends

3.4.1 Big Data Analytics

3.4.2 3D Printing

3.4.3 Advent of Specialty Tractors

3.4.4 Multi Hybrid Seed Planter

3.5 Industry Attractiveness

3.5.1 Threat of New Entrants

3.5.2 Bargaining Power of Buyers

3.5.3 Bargaining Power of Suppliers

3.5.4 Threat from Substitutes

3.5.5 Intensity of Competitive Rivalry

4 Global Next Generation Powered Agriculture Equipment Market

4.1 Assumptions for Analysis and Forecast of the Global Next Generation Powered Agriculture Equipment Market

4.2 Limitations for Analysis and Forecast of the Global Next Generation Powered Agriculture Equipment Market

4.3 Market Overview

4.4 Agricultural Unmanned Aerial Vehicles/Drones

4.4.1 Agricultural Unmanned Aerial Vehicles/Drones Market (by Value)

4.5 Harvesting & Picking Robots

4.5.1 Harvesting and Picking Robots Market (by Value)

4.6 Driverless Tractors

4.7 Others

5 Global Powered Agriculture Equipment Market, (by Type)

5.1 Assumptions for Analysis and Forecast of the Global Powered Agriculture Equipment Market

5.2 Limitations for Analysis and Forecast of the Global Powered Agriculture Equipment Market

5.3 Market Overview

5.4 Tractors

5.5 Combine Harvesters

5.6 Other Harvester

5.7 Planters

5.8 Sprayers

6 Global Powered Agriculture Equipment Market (by Region)

6.1 Asia-Pacific

6.2 The Americas

6.3 Europe

6.4 Rest-of-the-World (RoW)

7 Company Profiles

Companies in Powered Agriculture Equipment

7.1 AGCO Corporation

7.2 CLAAS Group

7.3 CNH Industrial

7.4 Deere & Company

7.5 Escorts Limited

7.6 ISEKI & Co. Ltd.

7.7 Kinze Manufacturing

7.8 Kubota Corporation

7.9 Mahindra & Mahindra (M&M)

7.10 SDF Group

7.11 The Toro Company

7.12 Tirth Agro Technology Private Limited

7.13 Tractors and Farm Equipment Ltd.

7.14 Yanmar Co. Ltd.

7.15 Zetor Tractors a.s.

Companies in Next Generation Agriculture Equipment Market

7.16 3D Robotics

7.17 Abundant Robotics Inc

7.18 AgEagle Aerial Systems, Inc.

7.19 ecoRobotix Ltd.

7.20 Harvest Croo Robotics

7.21 Iron Ox

7.22 Parrot SA

8 Report Scope and Methodology

8.1 Report Scope

8.2 Global Powered Agriculture Equipment Market Segmentation

8.3 Global Powered Agriculture Equipment Market Research Methodology

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