세계의 경운기 및 경작기 시장(2022-2029년)
Global Plowing and Cultivating Machinery Market - 2022-2029
세계의 경운기 및 경작기 시장은 예측기간(2022-2029년)에 CAGR 3.56%로 성장할 것으로 예측됩니다.
Plowing and cultivating machinery helps to increase the production of crops and makes agriculture operations easy. Plowing is an important soil management practice used to create a straight, grained, structural sowing layer. Plowing is a simple farm practice that cuts, granulates, and inverts the soil, creating furrows and ridges. Cultivation is the act of preparing the land and growing crops on it or growing a particular crop. Plowing and cultivating machineries such as plows, harrows, cultivators, tillers, and others help reduce labor costs and make agriculture operations easy and time-consuming. Increasing demand for food worldwide is expected to drive the growth of the plowing and cultivating machinery market. Growing farm mechanization operations are expected to boost the plowing and cultivating machinery market in the forecast period.
The global plowing and cultivating machinery market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 3.56% during the forecast period (2022-2029).
Market Dynamics: Rising growth in the agriculture sector drives the market growth of plowing and cultivating machineries
The market growth is driven by the rising growth in the agriculture sector in developing countries. For instance, according to the World Bank Organization, the agriculture sector has witnessed two to four times more effective growth in raising incomes among the poorest than other sectors. Agriculture contributes one-third of the global gross domestic product (GDP). Farm mechanization of agriculture, including the technological advancement and introduction of high-performance cultivators and tillers, has increased the demand for plowing and cultivating machinery. Plowing and cultivating machinery are used for farm mechanization and automation of farming activities. It plays an important role in increasing agricultural output and efficient utility.
Moreover increasing demand for food is increasing across the globe due to the rapid increase in population. Global demand for agricultural machinery has increased due to farmers adopting contemporary techniques to maximize crop yields. Therefore, during the projected period, these factors are anticipated to fuel the expansion of the worldwide agriculture and farm machinery market. Additionally, a lot of farmers all around the world are implementing cutting-edge machinery for farming activities. By establishing deadlines in farming operations, mechanization of farming operations increases production and profitability. Farm mechanization also contributes to increased profitability and cost-effectiveness by lowering labor costs.
Market Segmentation: The cultivators and tillers segment accounted for the highest share of the global plowing and cultivating machinery market
The cultivators and tillers segment contributes to the significant market share due to the increased use of cultivators and tillers for increasing the agricultural crop yield by three to eight times. It enhances productivity and profitability for the farmers. Cultivators and tillers are either self-propelled or drawn as an attachment behind either a two-wheel tractor or a four-wheel tractor. Cultivators are rigidly fixed and powered via couplings to the tractors' transmission behind two-wheel tractors. On the other hand, the cultivators are attached via a three-point hitch and driven by a power take-off (PTO). Tillers are more powerful than cultivators and have larger, heavy-duty tines that work the soil.
Moreover, harrow segment contributed significant market share in plowing and cultivating machinery market. Harrowing intensifies the agitation of the soil, which is already primed by ploughing, in preparation for agricultural operations. To facilitate the rooting and growth of new plants, these attachments disperse crop and weed leftovers, break up soil clumps, and level the soil's surface. After applying fertilizer and manure, harrows can be used to assist break up clumps and spread the fertilizer more evenly. The process of preparing the soil generally involves the employment of several distinct kinds of harrows for various tasks. Harrows can be pulled behind tractors depending on their size and complexity. Although more sophisticated harrows need a tractor, they frequently combine the advantages of several different harrow kinds into one.
Geographical Penetration: North America is the dominating region during the forecast period
North American region held the largest market share in the plowing and cultivating machinery market due to increased consumer demand for new agricultural innovations and equipment. The United States and Canada held the largest market share due to the increased consumer disposable income. Some major key players in the region, such as Kubota, Claas, AGCO, ISEKI, Sampo Rosenlew, SAME DEUTZ-FAHR, Yanmar, Pickett Equipment, Versatile, Rostselmash, Preet Agro, Tractors and Farm Equipment (TAFE), LOVOL, Zoomlion, Kuhn Group, Lemken GmbH launched new plowing and cultivating machinery in the market. Growing mechanization of farming operations in the United States and Canada helps to boost the market growth. Increasing government initiatives to promote innovations in the plowing and cultivating machinery drives market growth. Moreover, farmers in the region face labor shortage which is one of the reasons that farmers are moving towards plowing and cultivating machinery.
Moreover, during the forecast period, the Asia-Pacific region has the high demand for agricultural machinery, primarily from India and China. In the APAC region, China controls terms of production and sale of farming equipment, whereas India, Japan, and Australia are projected to donate a significant share in the global plowing and cultivating machinery market in the future years.
There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Deere & Company, AGCO Corporation, Kubota Corp, The Toro Company, Titan Machinery, Landoll, HORSCH, Bush Hog, Inc., CNH Industrial N.V., and LEMKEN Gmbh & Co. K.G., among others. Some major key players launched new products to increase their product sales. For instance, in May 2022, Deere & Company invented one of the first steel plows used to till the American Midwest prairies. Deere and Company supply 53% of agricultural equipment in the U.S. and Canada. Also, in January 2022, John Deere launched a fully autonomous tractor in the market. The New 8R tractor uses six pairs of cameras and advanced artificial intelligence to navigate its environment. They can follow a defined route through GPS but can't avoid obstacles. It is used in agricultural plowing and cultivating operations. Some key players follow merger and acquisition strategies to expand their business. For instance, in May 2022, AGCO, a worldwide manufacturer and distributor of agricultural machinery and precision ag technology, acquired JCA Industries. JCA, based in Winnipeg, Canada, Manitoba, specializes in the design of electronic systems and software development to control agricultural equipment. Original equipment manufacturers use JCA's path planning, sensor fusion, and remote-control software products.
COVID-19 Impact: Negative impact on the global plowing and cultivating machinery market
The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Major industries suffered from intense disruptions, such as restrictions on the supply chain and the shutdown of warehouse plants. Also, the restrictions on the production and service of industries such as agriculture led to a decline in the demand for plowing and cultivating machinery, which negatively impacted the market and led to the loss of revenue for the market. Moreover, the restrictions imposed by governments and increased prices due to that are affecting geographical expansion, business collaboration and partnership opportunities for the manufacturers of plowing and cultivating machinery. Thus, these factors have hindered the growth of the market.
The global plowing and cultivating machinery market report would provide an access to approximately 53 market data tables, 44 figures and 170 pages
Scope and Methodology