What is the Future of the Agricultural Machinery Market?
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The agricultural machinery market is going strong all around the world. While many people think of only the tractor when they think of agricultural machinery, the market also includes combine harvesters, combines and thrashers. All these machines are designed with one goal in mind – to make the lives of farmers easier by saving time, increasing production and simplifying routines.
The future of the market will be determined by the economy, population growth and the amount of arable land. Koncept Analytics’ report Global Farm Equipment report discusses the types of farm equipment as well as breaking down its analysis by region.
The industry’s market leader is Europe, followed by China and India.
In Europe, the agricultural machinery market is forecasted to reach $2.1 billion in 2020. The most popular vehicle is planting machinery. These devices allow farmers to sow seeds. Unlike other types of farm machinery, planting machines are in their infancy.
The largest markets are Germany and France, but other nations such as Romania and Belarus also are fueling growth. All throughout the continent growth is boosted by farm consolidation, a shortage of labor and high mechanization.
Mordor Intelligence’s Europe Planting Machinery Market report examines the key players in the market, the various types of planting machinery and examines each nation’s impact on the market.
China is considered to be a nation poised for great growth in the agricultural machinery market. By 2020, the market is forecasted to be worth $16 billion. Small tractor sales are expected to increase eightfold while machines that have horsepower greater than 40 also will see sales increase.
This growth is fueled by an increase in land rentals and the expansion of farm cooperatives. To learn more about sales volume in China, consult Renub Research’s China Agricultural Equipment Sales report.
In terms of volume, India is the world’s third-largest tractor market. Tractor tires also are a booming industry. Between 2009 and 2013, the tractor tire market grew 9% with front tractor tires selling in higher volume than rear tires. To learn more, visit TechSci Research’s report Tractor and Tyre Market Forecast and discover who the leaders are, what their strategies are and the market’s trends.
Finally, in the United States, the agricultural machinery market is expected to reach $1.9 billion in 2020. Growth will be boosted by planting and fertilizing machinery. Like planting machinery, these tools are in their infancy. They require great precision. Tractors also sell well in the nation.
The fertilizing machinery market does face some challenges worldwide. These come from the fertilizers themselves and the negative environmental impact they have.
We hope this information has been helpful to you. There is more useful information about the agricultural machinery market in ReportLinker’s portal. If you have any additional questions or needs, please feel free to contact us.