Market's Latest

INDUSTRY DETAIL

Agriculture Equipment .

Published July, 2018
Global Agriculture Equipment Market- Size, Trends, Competitive Analysis and Forecasts (2019-2024)

Buy Report

The agriculture machinery industry is a low-volume industry, characterized by a variety of different types and models. The global agriculture equipment market is expected to exhibit strong growth from 2019 to 2024 to reach USD 155 billion by 2024. Rising farm income, growing R&D efforts to customize farm equipment and promotion of farm mechanization are expected to strengthen the demand during the forecast period. The farmers focus to increase the cropping intensity and reduce operation time is the major demand driving factor in North America and Europe. The growing access to subsidies and credits to invest in farm machinery has created opportunities for agriculture equipment’s manufacturers in Asia. This along with the strong push from policymakers for farm mechanization makes Asia-Pacific the fastest growing consumer of agriculture machinery. The growing adoption of precision farming practices has created a positive impact on the agriculture equipment market.

However, growing fragmented landholding and urbanization is the major restraining factor for the expansion of the market all over the world. The diminishing area under agriculture and decreasing population of farmers is another factor hindering the growth of the market. Equipment customized for hill agriculture and for women farmers provides the scope of expansion to the manufacturers. The agricultural machinery industry takes more time to adapt to regulations and protocols, thereby restraining the growth of the market. Smart farm machines catering to young farmers is the new avenue for manufacturers. 

By Types- Harvesters fastest growing segments

The Agriculture machinery market is divided into 11 different segments such as-Tractors, plowing & cultivating machinery, planting machinery, fertilizing machinery, harvesters, haying & foraging machinery, combines, sprayers, irrigation machinery, parts & attachments among others. Tractors account for the major share in the global market. Plowing & cultivating machinery and harvesters are forecasted to be the fastest growing segments due to rampant farm mechanization in Asia and South America. The strong demand pull from Africa in lieu of scientific agriculture practices introduced by the global agriculture conglomerates is expected to strengthen the demand for plowing & cultivating machinery and harvesters in the coming decade.

Country Analysis-Asia-Fastest expanding market

North America is the largest agriculture equipment market narrowly trailed by Europe. The regions have a matured industry structure and an established customer base for agriculture equipment market. In North America, the U.S. is the largest market. But declining farmland and number of farmers is the major concern for the manufacturers. Rising adoption of farm mechanization and precision farming makes Mexico the fastest growing market in North America. Tractors and combines are the fastest growing segments in the region.

The European agricultural machinery industry had to deal with the challenge of a declining customer base and stagnant area of farmland. As a result, the customers are becoming more dispersed and less accessible. This has extended the logistical chain in the industry thereby increasing distribution cost. Thus, manufacturers with a strong distribution network are gaining more competitive advantage over others. Thus, the changing demographic factors have brought about concentration in the European agricultural machinery industry.

Asia-Pacific is the fastest growing agrochemicals market. The push from policymakers for farm mechanization especially in China and India is the major demand driving factor in the region. Growing population, dwindling agriculture land and reduced number of farm laborers have triggered a rapid shift towards farm mechanization. Tractor segments accounts for around one third of the market share. Plowing and cultivating machinery is another major segment. Harvesters are the fastest growing segment in the region. China, India, Japan are major consumers in the market, attracting the attention of almost all the major players for their expansion. Other major Asian countries like Thailand, Philippines, Malaysia, and Indonesia are expected to grow at a steady rate during the forecast period.

Business Trends

The global agricultural machinery market is highly fragmented with a large number of medium and large companies competing for market share. The market is matured with a high degree of competition among major players. However, even small manufacturers can compete with major players especially in tractors segment, making the market more dynamic.  The manufacturers strive to stay ahead of the competition by innovations in product features, technology and maintaining competitive pricing.

The key global players in the market are focused on expansion in the Asian and South American region. Other major players are also adopting export-oriented strategies centered on the rapidly growing Asian market. Mergers and acquisitions with local players is another market entry strategy for major players. Collaborations to establish a dealer network has been a growth strategy in North American and European network. The key market players include Mahindra and Mahindra Ltd., Kubota Tractor Corp., Same Deutz-Fahr Deutschland Gmbh, Escorts Group, Deere and Company, Kverneland Group, Iseki & Co. Ltd., Kuhn Group, CNH Industrial N.V, Claas KGaA mbH, Tractors and Farm Equipment Ltd. and  AGCO Corp.

Key Deliverables

  • Market trends since 2015 and five-year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on the growth potential of the market in key countries 
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

 

1. Introduction                                                                                              

          1.1 Research Methodology                                                                               

          1.2 Scope of the Study                                                                                   

          1.3 Assumptions                                                                                  

2. Summary                                                                                        

          2.1 Market Summary By Type                                                                                    

          2.2 Market Summary By Geography                                                                            

3. Industry Dynamics                                                                                      

          3.1 Drivers                                                                                 

                   3.1.1 Growing access to subsidies and credits for Farm Machinery in Asia                 

                   3.1.2 Push for agriculture mechanization from policy makers                        

                   3.1.3 Focus to increase cropping intensity                                                 

                   3.1.4 Dwindling agriculture labourers due to Urbanization                              

          3.2 Restraints                                                                             

                   3.2.1 Diminishing area under agriculture                                                    

                   3.2.2 Increased number of fragmented landholding in Asia                                     

                   3.2.2 Consolidating farmland under contract farming & co-operatives             

          3.3 Opportunities                                                                                 

                   3.3.1 Growing emphasis on Precision farming                                            

                   3.3.2 Hill Agriculture                                                                     

                   3.3.3 Gender friendly tools and Equipments                                                         

                   3.3.4 Crop Specific Package of machines                                                  

          3.4 Porter’s Five Forces Analysis                                                                       

                   3.4.1 Bargaining power of Suppliers                                                         

                   3.4.2 Bargaining power of Buyers                                                            

                   3.4.3 Degree of Competition                                                                  

                   3.4.4 Threat of Substitution                                                                    

                   3.4.5 Threat of new entrants                                                                            

          3.5 Future Trends in the Industry                                                                      

          3.6 Value Chain Analysis                                                                                  

          3.7 Industry Policies & Regulations                                                                    

          3.8 Market Innovations                                                                                   

4. Market Size and Forecast                                                                                       

          4.1 Tractors                                                                               

                   4.1.1 Utility Tractors                                                                    

                   4.1.1.2.2 Row crop tractors                                                                    

                   4.1.1.2.3 Garden & Orchard type Tractor                                                  

                   4.1.1.2.4 Orchard Tractor                                                                       

                   4.1.1.2.4 Rotary Tillers                                                                          

                   4.1.1.2.4 Others                                                                         

          4.2 Plowing and Cultivating Machinery                                                                

                   4.2.1 Ploughs                                                                    

                   4.2.2 Harrows                                                                   

                   4.2.3 Cultivators & Tillers                                                                       

                   4.2.4 Others                                                                     

          4.3 Planting Machinery                                                                                    

                   4.3.1 Seed Drill                                                                           

                   4.3.2 Planters                                                                   

                   4.3.3 Broadcast Seeders                                                                        

                   4.3.4 Transplanters                                                                     

          4.4 Fertilizing Machinery                                                                                  

                   4.4.1 Dry Fertilizer Spreaders                                                                            

                   4.4.2 Drop Spreaders                                                                  

                   4.4.3 Rotary Spreaders                                                                          

                   4.4.4 Others                                                                     

          4.5 Harvesters                                                                                     

                   4.5.1 Crop & Grain Harvestor                                                                           

                   4.5.2 Rootcrop Harvestor                                                                      

                   4.5.3 Fruits and Vegetable Harvestor                                                                 

                   4.5.4 Threshers                                                                          

                   4.5.5 Others                                                                     

          4.6 Haying and Forage Machinery                                                                      

                   4.6.1 Mowers                                                                   

                   4.6.2 Conditioners                                                                       

                   4.6.3 Tedders/inverters                                                                          

                   4.6.4 Hay rakes                                                                          

                   4.6.5 Balers                                                                      

          4.7 Combines                                                                                      

                   4.7.1 Corn Crop                                                                          

                   4.7.2 Rice Crop                                                                          

                   4.7.3 Soybean Crop                                                                    

                   4.7.4 Wheat Crop                                                                       

                   4.7.5 Other Crops                                                                       

          4.8 Sprayers                                                                              

                   4.8.1 Low Pressure Sprayers                                                                  

                             4.8.1.1 Tractor Mounted Sprayers                                                  

                             4.8.1.2 High Clearance Sprayers                                                    

                             4.8.1.3 Trailer Mounted Sprayer                                                     

                             4.8.1.4 Truck Mounted Sprayer                                                     

                   4.8.2 High Pressure Sprayers                                                                            

                             4.8.2.1 Air Carrier Sprayers                                                           

                             4.8.2.2 Hand Operated Sprayers                                                    

                             4.8.2.3 Fogger                                                                  

          4.9 Irrigation Machineries                                                                                 

                   4.9.1 Sprinkler Irrigation                                                                        

                   4.9.2 Drip Irrigation                                                                     

          4.10 Parts and Attachments                                                                             

          4.11 Other Agricultural Equipment                                                                      

5. Country Market Share                                                                                           

          5.1 North America                                                                                

                   5.1.1 U.S.                                                                        

                   5.1.2 Canada                                                                    

                   5.1.3 Mexico                                                                    

                   5.1.4 Others                                                                     

          5.2 Europe                                                                                

                   5.2.1 Germany                                                                           

                   5.2.2 U.K.                                                                        

                   5.2.3 France                                                                     

                   5.2.4 Spain                                                                       

                   5.2.5 Italy                                                                        

                   5.2.6 Russia                                                                     

                   5.2.7 Others                                                                     

          5.3 Asia-Pacific                                                                                     

                   5.3.1 China                                                                      

                   5.3.2 India                                                                       

                   5.3.3 Japan                                                                      

                   5.3.4 Indonesia                                                                          

                   5.3.5 South Korea                                                                       

                   5.3.6 Australia                                                                  

                   5.3.7 Thailand                                                                   

                   5.3.8 Israel                                                                      

                   5.3.9 Others                                                                     

          5.4 South America                                                                                

                   5.4.1 Brazil                                                                       

                   5.4.2 Argentina                                                                           

                   5.4.3 Colombia                                                                           

                   5.4.4 Others                                                                     

          5.5 Africa                                                                                  

                   5.5.1 South Africa                                                                       

                   5.5.2 Egypt                                                                      

                   5.5.3 Nigeria                                                                     

                   5.5.4 Others                                                                     

6. Competitive Analysis                                                                                             

          6.1 Market Share Analysis                                                                                

          6.2 Growth Strategies of leading players                                                   

          6.3 Investment and Development Prospects                                                                                    

                   6.3.1 Investment in past five years                                                          

                   6.3.2 Investment Opportunities                                                               

          6.4 Competition Pattern                                                                                  

                   6.4.1 Concentration Ratio                                                                       

                   6.4.2 Industry Competition                                                                     

          6.5 Price Trend Analysis                                                                                   

                   6.5.1 Product Classifications and Their Prices                                             

                   6.5.2 Factors Influencing Prices                                                               

7. Company Profiles                                                                                       

          7.1 AGCO Corp.                                                                                   

          7.2 Agrifac Machinery                                                                            

          7.3 Alamo Group Incorporated                                                                         

          7.4 AMAZONEN-Werke H. Dreyer GmbH & Company KG                                        

          7.5 ARGO SpA                                                                                      

          7.6 Bucher Industries AG                                                                                 

          7.7 Changzhou Dongfeng Agricultural Machinery Group                                         

          7.8 China National Machinery Industry Corporation                                                         

          7.9 Claas KGaA mbH                                                                             

          7.10 CNH Industrial N.V                                                                                   

          7.11 Daedong Industrial Company Limited                                                

          7.12 Deere and Company                                                                                

          7.13 Escorts Limited                                                                              

          7.14 Exel Industries SA                                                                                    

          7.15 Foton Lovol International Heavy Industries Company Ltd.                              

          7.16 Iseki & Co. Ltd.                                                                             

          7.17 JCB Limited                                                                                  

          7.18 Kubota Corporation                                                                                 

          7.19 Kuhn Group                                                                                  

          7.20 Kukje Machinery Company Limited                                                   

          7.21 Kverneland Group                                                                                    

          7.22 Mahindra & Mahindra Ltd.                                                                          

          7.23 Netafim Limited                                                                             

          7.24 Same Deutz-Fahr Deutschland Gmbh                                                          

          7.25 Shandong Shifeng Group Company Limited                                         

          7.26 Tetra Laval International SA                                                                       

          7.27 Tractors and Farm Equipment Ltd.                                                             

          7.28 Valmont Industries Incorporated                                                                

          7.29 WORLD Group Company Limited                                                               

          7.30 Yamabiko Corporation                                                                             

          7.31 Yanmar Company Limited                                                                         

          7.32 ZETOR TRACTORS                                                                                   

Appendix                                                                                            

          Sources                                                                                     

          Disclaimer               

Apply

latest reports.