The Business Research Company’s Agricultural Implement Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, July 12, 2021 /EINPresswire.com/ — Farm machinery manufacturers are offering driverless tractors and robots to individual farmers and corporate farming companies. Driverless tractors and robots automate the weeding and harvesting process. They use GPS and sensors and can be controlled using a tablet or a smart phone. These technologies are known to considerably increase farm output and decrease labor costs. For instance, according to a report by Goldman Sachs, automated tractors can raise farmer revenue by more than 10% and reduce farm labor costs. Companies offering driverless tractor and robot technologies include CNH Industrial, Deere, and AGCO have already started developing such technology.
The global agricultural implement market is expected to grow from $217.34 billion in 2020 to $237.52 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $320.39 billion in 2025 at a CAGR of 8%.
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Asia Pacific is the largest region in the global agricultural implement market, accounting for 32% of the market in 2020. Western Europe is the second largest region accounting for 27% of the global market. Africa is the smallest region in the global agricultural implement market.
The major players covered in the global agricultural implement market are John Deere, CNH, AGCO, CLAAS, Kubota.
The global agricultural implement market is segmented by type into farm machinery and equipment, lawn and garden tractor and home lawn and garden equipment, by operation into autonomous, semi-autonomous, manual, by application into land development and seed bed preparation, sowing and planting, weed cultivation, plant protection, harvesting and threshing, post-harvest and agro processing, and by capacity into small, medium, large.
Subsegments covered are cotton ginning machinery, feed processing equipment, fertilizing machinery, haying machines, milking machines, planting machines, plows, poultry brooders, feeders, and waterers, combines (i.e., harvester-threshers), other farm machinery and equipment, push lawn mowers, riding mowers, other lawn and garden tractor and home lawn and garden equipment manufacturing.
Agricultural Implement Market – By Type (Farm Machinery and Equipment, Lawn And Garden Tractor And Home Lawn And Garden Equipment, Tools, Gear Boxes, Clutches And parts, Others), By Operation, By Application, By Capacity (Small, Medium, Large), And By Region, Opportunities, Trends And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides agricultural implement market overview, forecast agricultural implement market size and growth for the whole market, agricultural implement market segments, and geographies, agricultural implement market trends, agricultural implement market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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