The Global Market for Plowing and Cultivating Machinery is Forecast to Reach US$10.8 Billion by 2020

Focus On Farm Productivity & Yields Per Acre Drives Adoption of Plowing & Cultivating Machinery, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Plowing and Cultivating Machinery market. The global market for Plowing and Cultivating Machinery is forecast to reach US$10.8 billion by 2020, driven by the surging need to feed a growing population and the ensuing focus on farm productivity and yields per acre.

Plowing and cultivating represents the foremost procedure in growing crops. Plowing is an agricultural technique of preparing the top layer of soil for planting by loosening it with the help of an implement. Demand for plowing and cultivation machinery is primarily driven by mechanization of farm practices, which in turn is guided by the economic principle that use of automated tools in lieu of manual labor results in cost and higher yield benefits. Against the backdrop of population growth and the ensuing pressure on food security, the emphasis on farm productivity and yield per acre is growing stronger. This thereby renders mechanization of farm activities a necessity. Also, falling agricultural commodity prices are exerting pressure on farmers to run cost effective and competitive operations. Dearth of agricultural labor, increasing per capita income in rural areas, government subsidies, and introduction of innovative technologies represent other major factors driving adoption of plowing, cultivating and other agricultural machinery in developing countries. Another key factor driving growth in the market is the rising biofuel demand and the resulting focus on stepping up production of energy crops as feedstock for growing biodiesel production.

Technology innovations guiding growth in the market include the development of diverse types of plows and cultivators compatible with multiple soil types and diverse weather conditions. For developed regions, demand exists for equipment that can meet the needs of large farm lands. Sustainability is another factor which is influencing the product design of plowing and cultivation machinery. There is great pressure on the agricultural sector to adopt cultivating practices that help reduce land and soil degradation. Use of big farming equipment to plow deeper and cover more farmland in less time to produce more yield tend to result in soil compaction. Farm equipment manufacturers are therefore focusing on the development of sustainable machinery such as new advanced plows that minimize the risk of soil erosion. Growing in popularity are technologies, such as, vertical tillage that help prevent soil degradation, and preserve land fertility. Despite the opportunities for growth, the market will face challenges in the form of fluctuating crop yields, unpredictable climatic conditions and excessive use of chemicals, all of which will aggravate the instability of farmlands.   

As stated by the new market research report on Plowing and Cultivating Machinery, Asia-Pacific represents the largest market worldwide. Backed by the presence of China and India, the region also ranks as the fastest growing market with a projected CAGR of 8.3% over the analysis period.  The U.S. and Europe represent other important markets with growth supported by the demand for larger, more technologically intensive machinery suited for large, consolidated farmlands.

Key players covered in the report include AGCO Corporation, Bush Hog Inc., CNH Industrial N.V., Deere & Company (John Deere), Horsch Maschinen GmbH, Iseki & Co. Ltd., Kuhn Group, Kverneland Group, LEMKEN Gmbh & Co. KG, and Miedema Landbouwwerktuigenfabriek BV, among others.

The research report titled “Plowing and Cultivating Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, and other strategic industry activities of market participants.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, and Rest of Asia-Pacific), The Middle East & Africa, and Latin America (Brazil, and Rest of Latin America).

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