Farm Equipment Market 2019 - Global Forecast to 2025: Innovation in the Field of Autonomous Tractors & Increase in Adoption of Advanced Technologies

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Feb 05, 2019, 14:45 ET

DUBLIN, Feb. 5, 2019 /PRNewswire/ --

The "Farm Equipment Market by Tractor Power Output, Drive, Combines, Baler, Sprayer, Implement, Rental, & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The farm equipment market is projected to grow at a CAGR of 4.04% during the forecast period, to reach a market size of USD 135.2 billion by 2025 from USD 102.5 billion in 2018.

Factors such as rising global population, increased mechanization owing to shortage of skilled labor and increasing labor wages, increasing government support/subsidies and other financial aid, and rising demand for improved operational efficiency are the key drivers for the farm equipment market. Alternatively, the high cost of farm equipment such as balers and sprayers and the growing presence of unorganized players are a few concerns of this market.

"Four-wheel drive is projected to grow at the highest rate in the farm tractors market during the forecast period"

Four-wheel drive is anticipated to be the fastest growing market for farm tractors during the forecast period. The growth of this segment can be attributed to the increased use of high powered farm tractors in regions such as Europe owing to considerably large farmland and changing farmers' investment capabilities. The four-wheel drive farm tractors offer better traction, power, maneuverability, and performance as compared to two-wheel drive farm tractors. Additionally, as four-wheel drive farm tractors have better pulling capacity than conventional two-wheel drive farm tractors, they are the better option for pulling larger load implements. India, China, and Russia have witnessed increased usage of four-wheel drive tractors. Initially, the four-wheel drive was offered in tractors with 100 hp to 120 hp power output.

However, some suppliers in the Asia Oceania region have now started offering a four-wheel drive option in 30-70 hp tractors. For instance, Mahindra and Mahindra launched four-wheel drive Novo tractors in 50-60 hp range that can be used for more than 40 different farming applications. Similarly, Kubota offers four-wheel drive option in smaller tractors. Leading global players such as John Deere, AGCO, and CNH Industrial offer four-wheel drive tractors worldwide. Thus, the market of four-wheel drive tractors is expected to show immense growth in coming years.

"Cereal combines is projected to lead the combines market during the forecast period"

The cereal combine is anticipated to be the largest and fastest growing market from 2018 to 2025. The demand for cereals crops such as rice, wheat, pulses, and corn has shown significant growth and is expected to grow further in coming years. For instance, the Food and Agriculture Organization (FAO) of the United Nations anticipated an increase in rice production by 1.3% to 506 million tons in the year 2017-2018. Also, according to the statistics of the United States Department of Agriculture (USDA), the global wheat crop production accounted for approximately 30% of all types of grains during 2016-2017. Increasing demand for crops at the global level has accentuated the need for combines to expedite the whole process.

Further, Asia Oceania leads the cereal combines market. Countries such as China and India have the highest demand (almost 85%-90%) in the region. Europe is estimated to be the second largest market. Due to the large sizes of farmland, large size combines are preferred in the region. Russia, Germany, and France are prominent markets for cereal combines that almost hold 70-75% of the total market share in the region. As per Russian Association of Specialized Machinery and Equipment Manufacturers publication, the Russian combines market had shown exponential growth of about 16.64% from 2015 to 2017. A similar trend is anticipated to continue that augurs well for the growth of the market in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Farm Equipment Market Trend, Forecast & Opportunity
4.2 Farm Equipment Market, By Region
4.3 Farm Equipment Market, By Equipment Type
4.4 Farm Equipment Market, By Region
4.5 Farm Tractor, By Drive Type
4.6 Combines Market, By Crop Type
4.7 Implements Market, By Function
4.8 Autonomous Tractor Market, By Power Output
4.9 Farm Equipment Rental Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Mechanization Trends Across the Globe
5.2.1.1.1 Shortage of Skilled Labor and Increasing Labor Cost
5.2.1.1.2 Rising Demand for Productivity and Operational Efficiency
5.2.1.1.3 Rising Import/Export of Cereals
5.2.1.2 Growing Institutional Credits/Increasing Ppp
5.2.2 Restraints
5.2.2.1 Fragmented Market
5.2.2.1.1 Intense Competition Among Regional Players
5.2.2.1.2 Local Implements Manufacturers vs Oems
5.2.2.2 High Cost of Agriculture Equipment
5.2.3 Opportunities
5.2.3.1 Innovation in the Field of Autonomous Tractors
5.2.3.2 Increase in Adoption of Advanced Technologies
5.2.3.2.1 Big Data
5.2.3.2.2 IoT (Internet of Things)
5.2.3.2.3 Artificial Intelligence (AI)
5.2.4 Challenges
5.2.4.1 Lack of Safety-Related Regulation in Developing Regions

6 Industry Trends
6.1 Introduction
6.2 Global Crop Production
6.2.1 Asia Oceania
6.2.2 Europe
6.2.3 Americas
6.3 Porter's Five Forces Analysis
6.4 Market Trends: Indian Tractors
6.4.1 Market Share: Indian Farm Tractors
6.4.2 India: Key Industry Trends
6.4.3 Tractor Sales, By States, 2017 vs 2018
6.5 Revenue Impact

7 Farm Tractor Market, By Power Output
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 <_0 />7.2.1 China & US Dominate the <_0 hp="hp" tractor="tractor" />7.3 31-70 hp
7.3.1 Asia Oceania Lead the 31-70 hp Tractor Market
7.4 71-130 hp
7.4.1 Europe Hold the Largest Market Share for 71-130 hp Tractor
7.5 131-250 hp
7.5.1 Europe & North America are the Prominent 131-250 hp Tractor Market
7.6 >250 hp
7.6.1 >250 hp Tractors are Essential in Organised Farming Activities

8 Farm Tractor Market, By Drive Type
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Two-Wheel Drive
8.2.1 Asia Oceania is Estimated to Lead Two-Wheel Drive Tractors
8.3 Four-Wheel Drive
8.3.1 Four-Wheel Drive Tractors Mainly Find Application in Large Farm Sizes

9 Autonomous Tractor Market, By Power Output
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 <_0 />9.2.1 Cash Crops Such as Grapes, Strawberry Etc. are the Prime Application for <_0 hp="hp" autonomous="autonomous" />9.3 31-100 hp
9.3.1 North America Hold the Largest Market Share for 31-100 hp Autonomous Tractor
9.4 >100 hp
9.4.1 Agricultural Contractors Will Prefer to Use >100 hp Autonomous Tractors

10 Farm Equipment Market, By Equipment Type
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Combines
10.2.1 Combines for Cereal Crops
10.2.1.1 Asia Oceania is Estimated to Lead the Combines Market for Cereals Crop
10.2.2 Combines for Non-Cereal Crops
10.2.2.1 Forage Harvester Holds the Maximum Share in Combines Market for Non-Cereals Crop
10.3 Balers
10.3.1 North America is Estimated to Lead the Balers Market
10.4 Sprayers
10.4.1 Self-Propelled Sprayers are Used to Meet the Large-Scale Productivity Demand for Crops

11 Implement Market, By Function
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Plowing & Cultivating
11.2.1 Asia Oceania is Estimated to Lead the Plowing & Cultivating Implements Market
11.3 Sowing & Planting
11.3.1 in Order to Improve the Crop Quality, the Sowing & Planting Market is Expected to Grow at the Higher Rate
11.4 Plant Protection & Fertilizing
11.4.1 Growing Crop Production With Minimal Damage and Enhanced Food Quality Will Propel the Market for Plant Protection and Fertilizing Implements
11.5 Harvesting & Threshing
11.5.1 The Demand for Tractor-Mounted Harvesting and Threshing Implements are Expected to Witness Potential Growth Especially in Developing Countries
11.6 Others
11.6.1 Asia Oceania is the Largest Market for Other Implements

12 Farm Equipment Rental Market, By Type
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, and Americas
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Tractors
12.2.1 Tractors Leads the Farm Equipment Rental Market During the Forecast Period
12.3 Combines
12.3.1 Combines and Forage Harvester Have Significant Demand on Rental Basis in Europe
12.4 Others
12.4.1 Equipment Such as Round and Square Balers, Self-Propelled Sprayers, and Power Tillers are Preferred in Rental Market

13 Farm Tractor Market, By Region

14 Competitive Landscape

AGCO Corporation
Alamo Group
Autonomous Tractor Corporation
Bucher Industries
Buhler Industries
CNH Industrial
Claas KGaA
Escorts Ltd.
Exel Industries
International Tractors Limited
Iseki & Co.
JCB
John Deere
Kubota Corporation
Mahindra & Mahindra
SDF Group
Tong Yang Moolsan (TYM)
Tractors and Farm Equipment Limited
Yanmar
Zetor Tractors

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