1. Farmers prefer agriculture equipment primarily for harvesting and threshing activities owing to their application in the production of high-yielding grain
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The harvest season in Australia is between October and December. Harvesting of field crops is one of the most labour-intensive activities and hence is made easy with the mechanization of the process.
Regions like Western and South Australia are mostly affected by heavy rains. Use of equipment are necessary to combat the weather conditions. Increase in grain prices such as Barley and grain has necessitated the requirement for harvesting, land development and sowing.
2 Increasing internet penetration in Australia and easy product comparison feature among online websites has increased the demand for online sales channels for Agri-equipment in the country
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Online mode of sale is more preferred attributing to increasing internet adoption in the rural areas of the country. Internet penetration in Australia has increased from 86.5% in 2017 to 91% of internet users in 2021.
Online Physical-digital channels will improve the distribution process for agriculture equipment. It will also help the consumers avail easy after sales services.
Increased use of data science, automation, and communication technologies has gained prominence in the sector.
3 Government support and technological upgradations in Agricultural equipment in Australia are expected to drive the market by 2026F
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Government schemes and initiatives will facilitate credit and improve agriculture-related operations which will be a major growth driver. Agri-starter loans of up to AUD 2.9 Mn at low-interest rates have been provided to farmers in 2021.
Three core technologies shaping the future of the Agriculture Equipment Market are Electrification, Automation to Autonomy and Artificial Intelligence.
Farmers are currently preferring technological upgrades in their agricultural equipment. GPS technology will help in accurate field navigation to minimize redundant applications and enable maximum ground coverage in the shortest possible time in the rough terrain in Australia.