The agricultural machinery market in Germany to grow by USD 679.51 million from 2021 to 2026 | The increasing farm mechanization is notably driving the growth of the market - Technavio
NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The agricultural machinery market in Germany is expected to increase by USD 679.51 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.59%. For Comprehensive details on - View the Sample report
Agricultural Machinery Market in Germany - Company Landscape
The agricultural machinery market in Germany is fragmented; the companies are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now
Agricultural Machinery Market in Germany- Market Dynamics
Key Driver & Challenge - One of the key factors driving growth in the agricultural machinery market in Germany is increasing farm mechanization.
The high costs of agricultural machinery will be a major challenge for the agricultural machinery market in Germany during the forecast period.
Leading Trend -
The advent of digitalization and connected technology in the Agriculture Sector is another factor supporting the agricultural machinery market share growth in Germany. Sensors and other vehicles built into robots and drones are used in many artificial intelligence applications in agriculture, such as irrigation, weeding, and spraying. These technologies avoid the excessive use of water, pesticides, and herbicides, maintain soil fertility, contribute to the efficient use of labor, increase productivity, and improve quality. AI-based technologies help improve efficiency in every sector and manage the problems faced by many businesses, including different areas of the agricultural industry, such as crop yield, irrigation, etc. The digitization of the agriculture sector will drive the growth of the market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report
Agricultural Machinery Market in Germany- Company Profiles
The agricultural machinery market in Germany report includes information on the product launches, sustainability, and prospects of leading companies including AGCO Corp., Agrale SA, CLAAS Group, CNH Industrial NV, Deere and Co., HORSCH Maschinen GmbH, Kubota Corp., Mahindra and Mahindra Ltd., SDF Spa, and Yanmar Holdings Co. Ltd.
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
Market Segmentation
The agricultural machinery market in Germany is segmentation in Germany by type (tractors, harvesting machinery, haying machinery, planting and fertilizing machinery, and others) and business (OEM and aftersales).
The agricultural machinery market size growth in Germany by the tractors segment will be significant during the forecast period. Several suppliers are also focusing on cooperation to optimize and automate agricultural production. For example, in March 2021, Yanmar entered into a principal agency agreement with Wassenberg GmbH, a small machinery and tractors company, for the sale and maintenance of the YANMAR YT and SA 22-60 HP series of small tractors in India. The move will expand Yanmar's agricultural operations in Germany, providing the company's tractors, services, and spare parts through Wassenberg as well as Yanmar's existing dealer network. Such partnerships can have a positive impact on segment growth during the forecast period.
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The agricultural machinery market size is expected to increase to USD 45.98 billion from 2021 to 2026 at a CAGR of 5.87%. Furthermore, this report extensively covers agricultural machinery market segmentation by product (tractors, harvesting machinery, parts, and attachments, planting and fertilizing machinery, plowing and cultivating machinery, and haying machinery) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The government subsidies to promote the agricultural sector is notably driving the agricultural machinery market growth.
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Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Bussiness
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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SOURCE Technavio
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