Agriculture Equipment Market Forecast – Agriculture and equipment market is observing significant growth with the introduction of new technology and this result in changing the way of performing agriculture. Moreover, with the increase in the population, the agriculture and equipment sector is undergoing the more innovations in the technology. In the Asia Pacific region, the agriculture sector is rising with the extensive change in the basic technology. Development in the technology has been playing a big role in developing the agriculture industry. Moreover, the technology has turned the agriculture into a real business, whereas in the recent trends farmers have electrified process, a consumer can place an order directly on the sites of the retailers and the fresh produce will be transported from the warehouse to the consumer. According to the report analysis, ‘Agriculture Equipment Market Forecast’ suggests that the key players are going to introduce mobile apps in which a farmer can calculate the amount of grass available in the field which saves the time and money.
Establishment of technology in the sector of agriculture drive the market and saves the money of farmers as it eliminates the middleman. In the present times, every farmer uses this mobile app and uses these in the agriculture sector in its own way. Many of the farmers are using it to create fertilizers, others use it to market their products, and others use it in production. Not only has this, use of machines on farms is also done by which a farmer can cultivate no more than 2 acres of land with less labor which can cut costs. In the agriculture sector, time and production are essential elements. The modern technology for harvesting allows a small number of people to grow vast quantities of food in the shortest period of time. Though the modern harvesters and planters may do a better job than their predecessors. Besides the tractors, a variety of vehicles have been adapted for use on various aspects of farming, including trucks, airplanes, and helicopters for everything from transporting crops and making equipment mobile to aerial spraying. However, advancement in the technology is changing the procedure that humans operate the machines such as GPS locators, Computer monitoring Systems and self-steer programs allow the most advanced tractors and implements to be more precise and less wasteful in the use of fuel, fertilizers, and seed. According to the report analysis, Agriculture Equipment Market Forecast suggests that in the forecasted period, some of the agricultural machines are capable of driving themselves, using electronic sensors and GPS maps.
In research, it is observed that Asia Pacific region is dominating a huge amount of share in the market across the globe whereas Europe is also an efficient player in the industry of agriculture. The government is also playing the significant role in the agriculture sector while making so many policies for the benefit of farmers. It is expected that in the coming years so many projects are to be projected by the government of the respective regions which result in making the market more profitable. The auspicious role of technology development is expanding the activities of agriculture sector along with opportunities of increasing number of employment and also expanding agricultural operations. Whereas, the strong economic growth in developing nations such as China, India and the Middle Eastern countries is projected to further drive the agriculture technology industry.
The key industry participants include CNH Industrial N.V., Same Deutz-Fahr group S.p.A., Kubota Corporation, AGCO Corp., Mahindra & Mahindra Limited, Excavator Limited and others which are playing a significant role in this industry which makes the market highly competitive. The key players are competing on parameters such as availability of products and quality as well as technological advancements. Whereas, several leading players are investing in research and development in order to develop innovative equipment. AGCO and Mahindra & Mahindra Limited are the major players of this market and with the latest innovations they have turned the agriculture sector into the less time-consuming process and more into capital-intensive rather than the labor intensive.
A strong economic growth and population expansion are expected to impose pressure on the agriculture sectors to be more competent, thus increasing sales. Moreover, due to the increasing food demand, farmers are adopting modern agricultural technologies to increase farm yield. Therefore, the market for agriculture and equipment is expected to grow significantly with the more innovations in the market in the coming years.
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Agriculture Equipment Market Forecast
Ankur Gupta, head marketing & communications