Agriculture Equipment Market - Rising Trends and Emerging Technology Analysis to 2024
Category: #business  By Rahul Varpe  Date: 2020-01-16
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Agriculture Equipment Market - Rising Trends and Emerging Technology Analysis to 2024

The impact of technological advancements on the growth prospects of Agriculture Equipment Market can be demonstrated with the example of drones that are being increasingly developed and deployed in North Japan for the observation of crops as well as spraying medicine and pesticides. As the younger population of Japan is moving to urban areas to pursue better paying jobs, the elderly people are being left to tend to the fields. Lacking the stamina of the youth the older generation is turning to technology to make up for the labor shortage and thus drones are being increasingly used to raise productivity as well as farmers’ income.

Digital farming is now introducing the use of robotics, data analysis and sensors in shifting the tediousness of farming processes to more automated processes, increasing agricultural yields and gradually stimulating agriculture equipment market size. This progress in agriculture equipment technology has been met with commendable ardor among farmers who are now employing more automated means of cultivation and harvesting in their farms, adding impetus to the market.

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In an era dominated by the Internet of Things, components such as autonomous farm equipment are rapidly gaining popularity. Speaking of technological advancement in agriculture, it will be prudent to mention that the notion of agriculture being an ancient practice that uses conventional means of production which stand in stark contrast with the modernized urban technologies and practices is now undergoing a robust change. Smart solutions, machine learning, and the use of UAVs and robots is ushering a new age in agriculture and in most developed parts of the world, the use of digital and smart farming is becoming the norm.

According to the U.S. Department of Agriculture, the production and consumption of local and regional food has become a veritable movement and one of the foundational pillars for policies and programs. In fact, between 2009 and 2015, the USDA has invested over $1 billion in more than 40,000 local and regional food businesses and infrastructure projects. Arguably, such significant investments have led to commendable expansion of the agriculture equipment market as well.

The rising populace and the subsequent requirement of enhanced yield for combating the demand for food is certain to push agriculture equipment market trends. According to the United Nations Department of Economic and Social Affairs, the global population is expected to reach 8.6 billion by 2030 – a sizeable number that will exert increasing pressure on global agricultural output. Even considering that fertility levels may continue to decline, the upward trend in population expansion is predicted to continue. As a result, agricultural techniques and resources will have to be more attuned to increase demand, that would prompt agriculture equipment market players to invest substantially in R&D programs that will focus on the advancement of agriculture equipment.

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Major companies operating in the agriculture equipment market include Escorts Group, Kverneland Group, CNH Industrial N.V, Iseki & Co., Ltd., Kuhn Group, Yanmar Company Limited, Deere and Company, AGCO Corp., ARGO SpA, Alamo Group Incorporated, Claas KGaA mbH, Bucher Industries AG, JCB Limited, Kubota Tractor Corp, Mahindra & Mahindra Ltd., and Tractors and Farm Equipment Ltd., among others. The companies are targeting their offerings in the regions where a high demand for agricultural activities is being witnessed. They are integrating several technologies with their products to cater to the varying demands of the agriculture machinery market.

Partial Table of Content of Agriculture Equipment Market:

Chapter 1.   Methodology and Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Definitions & forecast parameters

1.1.4.1.    Definitions

1.1.4.2.    Methodology and forecast parameters

1.2.  Data Sources

1.2.1. Secondary

1.2.2. Primary

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Chapter 2.   Executive Summary

2.1.  Agriculture equipment market 360° synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Regional trends

Chapter 3.   Agriculture Equipment Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.2.1. Agriculture industry landscape

3.2.1.1.    North America

3.2.1.2.    Europe

3.2.1.3.    Asia Pacific

3.2.1.4.    Latin America

3.2.1.5.    MEA

3.2.2. Industrial machinery industry landscape

3.2.2.1.    North America

3.2.2.2.    Europe

3.2.2.3.    Asia Pacific

3.2.2.4.    Latin America

3.2.2.5.    MEA

3.2.3. Food & beverage industry landscape

3.2.3.1.    North America

3.2.3.2.    Europe

3.2.3.3.    Asia Pacific

3.2.3.4.    Latin America

3.2.3.5.    MEA

3.3.  Industry ecosystem analysis

3.3.1. Raw material suppliers

3.3.2. Component suppliers

3.3.3. Manufacturers

3.3.4. System integrators

3.3.5. Distribution channel analysis

3.3.6. Buyer landscape

3.3.6.1.    By machine type

3.3.6.2.    By customers

3.3.7. Vendor matrix

3.3.7.1.    List of key manufacturers/suppliers

3.3.7.2.    List of key/potential customers

3.4.  Technology & innovation landscape

3.4.1. Impact of IoT and digitization

3.4.2. Industry 4.0

3.4.3. Robotics & automation

3.4.4. Telematics & GPS technology

3.4.5. Autonomous tractors

3.4.5.1.    Autopilot technology

3.4.5.2.    Swath control

3.4.5.3.    Variable Rate Technology (VRT)

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    North America & Europe

3.6.1.1.1.    Increasing labor costs

3.6.1.1.2.    Integration of robotic systems and GPS

3.6.1.1.3.    Growing demand for high-capacity machinery

3.6.1.1.4.    Increasing demand for self-propelled machines

3.6.1.2.    APAC & LATAM

3.6.1.2.1.    Focus on productivity to maximize ROI from agriculture

3.6.1.2.2.    Emergence of contract farming and dedicated sourcing with corporate partnership

3.6.1.2.3.    Increased focus on mechanization in agriculture

3.6.1.2.4.    Improved availability of credit

3.6.1.3.    MEA

3.6.1.3.1.    Growing trend of drip irrigation techniques

3.6.1.3.2.    Increasing sustainable agricultural practices

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Higher prices of agricultural machinery

3.6.2.2.    Volatility of commodity prices

3.6.2.3.    Need for high capital investment for setting up plants in developing markets

3.6.2.4.    Fluctuating raw material prices

3.7.  Growth potential analysis

3.8.  Price trend analysis, by region, 2017

3.8.1. Farm tractors

3.8.1.1.    North America

3.8.1.2.    Europe

3.8.1.3.    Asia Pacific

3.8.1.4.    Latin America

3.8.1.5.    MEA

3.8.2. Harvesting machinery

3.8.2.1.    North America

3.8.2.2.    Europe

3.8.2.3.    Asia Pacific

3.8.2.4.    Latin America

3.8.2.5.    MEA

3.8.3. Plowing & cultivation machinery

3.8.3.1.    North America

3.8.3.2.    Europe

3.8.3.3.    Asia Pacific

3.8.3.4.    Latin America

3.8.3.5.    MEA

3.8.4. Planting & fertilizing machinery

3.8.4.1.    North America

3.8.4.2.    Europe

3.8.4.3.    Asia Pacific

3.8.4.4.    Latin America

3.8.4.5.    MEA

3.8.5. Haying machinery

3.8.5.1.    North America

3.8.5.2.    Europe

3.8.5.3.    Asia Pacific

3.8.5.4.    Latin America

3.8.5.5.    MEA

3.8.6. Others

3.8.6.1.    North America

3.8.6.2.    Europe

3.8.6.3.    Asia Pacific

3.8.6.4.    Latin America

3.8.6.5.    MEA

3.9.  Porter's analysis

3.9.1. Supplier power

3.9.2. Buyer power

3.9.3. Threat of new entrants

3.9.4. Threat of substitutes

3.9.5. Internal rivalry

3.10.      Company market share analysis, 2017

3.10.1.  Competitive landscape

3.10.2.  Strategic dashboard

3.10.2.1.     New product development

3.10.2.2.     Mergers, acquisitions, and strategic partnerships

3.11.      PESTEL analysis

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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