The equipment of agriculture is that equipment which progressively utilized in farming or several other agricultural activities. The farmers essentially demand numerous agricultural varieties of equipment for introducing an effective product in a broad quantity with the proficient proficiency and at an economical cost. Therefore, the agriculture equipment industry plays an essential role around the world by performing as a growth promoter in the GDP contribution.
In addition, the European agriculture equipment market was effectively witnessed at an extremely maturity stage though the farming segment within Europe has never stopped functioning towards the innovation for the agriculture equipment and every cycle brings in the fresh technological advancements. The positive growth in the existence of both international as well as domestic players coupled with the fresh government initiatives has generated a positive impact on the market. The European agriculture market perceived deterioration in 2016 in terms of revenue but progressively recovered during the reviewed duration of 2017-2018. There has been a movement towards the systematization in the market as up-to-date farm machines are now well-appointed with advanced technologies that aid in streamlining the farming activities. In addition to that, the government’s sustenance in the variety of subsidies has further reinvigorated the growth of the agriculture industry within the European economy.
However, the Brazil Agricultural Equipment Market plays an essential role in the entire economy of Brazil by performing as a growth catalyst in GDP involvement. After going through a recession during the period of 2014-2016, the market is presently in a recovery stage with a positive growth rate observed during the duration of 2017-2018. Domestic demand is predominantly being met through local manufacturing with almost all foremost international OEMs having plants within the region. The main functions in the market are consummate by three types of entities, those domestic manufacturers, importers and distributors/dealers. Business strategies such as new product launches, healthier after-sales care &accumulative use of precision farming technology have been implemented by the foremost players to explore the market existence in the country.
Based on the region, the southern region of Brazil has the maximum market share in terms of sales volume, the Midwest followed thoroughly by the Mideast. The southern regions, particularly the cerrado economy has ideal situations for agricultural production and the greatest level of mechanization, explaining the great market share in the south. The mainstream competing parameters for the individuals comprise extensiveness of distribution and dealership network, price of the products offered, after the sales services offered, product portfolio, years of launch, quality of the product, marketing & promotions and digitalization brought in the equipment. The great penetration of precision farming in the equipment has been a foremost parameter to influence the competition in the market.
Whereas, the South Africa Agriculture Equipment Market is predicted to increase due to the advent of the precision farming techniques and the multifunctional machinery, inflowing of the several equipment financing corporate supportive government regulation and with the establishment of agriculture robots. Therefore, it is anticipated that the market of agricultural equipment will augment more effectively in the coming year over the near future.
Related Reports by Ken Research:-
Europe Agriculture Equipment Market Outlook to 2023 – By Type (Tractors, Harvesting Equipment, Soil Preparation and Cultivation Equipment, Haymaking Equipment, Crop Protection Equipment, Transport and Handling Equipments and Other Agricultural Equipment); and By Major Countries (Germany, France, Italy, UK, Poland, Spain, and Others)
Ankur Gupta, Head Marketing & Communications