Powered agricultural implements market

Powered agricultural implements market
Research Report By Forecast 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)

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Powered agricultural implements market Forecast To 2023
Powered agricultural implements market Forecast To 2023
Agriculture has moved away from the use of traditional equipment to mechanization. This assisted farmers in
concentrating on yield quality and less on laborious aspect of farming. Powered agricultural equipment comprises
tractors, harvesters, combines, and trucks. The global powered agricultural equipment market report by Market
Research Future (MRFR) consists of the latest trends in farming and the need for powered tools.

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Powered agricultural implements market Forecast To 2023
“Taste the market data and market information presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content
TOC & market synopsis on Internet of Powered agricultural implements market Forecast To 2023”
• The global Powered agricultural implements market is anticipated to expand at 5.43% CAGR during the forecast
period (2017-2023) owing to the massive demand for food, asserts MRFR.
• The growing worldwide populace is triggering the demand for food which in turn can spur the demand in
powered agriculture equipment. Technological advances such as internet of things (IoT) and drones are expected
to assist farmers in remotely controlling machines from afar. Investments in novel technologies coupled with new
ways of farming such as hydroponics can work favorably for the market.
• On the flip side, lack of subsidies and schemes for replacing legacy equipment with new machinery can hamper
market growth.

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Powered agricultural implements market Forecast To 2023
Global Powered agricultural implements market Segmented on the basis of
The Powered agricultural implements market is segmented by type.
By type, it is segmented into seed drill, tractors, soil preparation & cultivation equipment, sprayer,
combine/combine harvester, and others. Among these, tractors held 52.4% market share in 2016 valued at
USD 36.37 billion. It accounted for high sales owing to being used for transport of produce and commercial
purposes. Combine/combine harvester held the second-largest share in 2016 due to multifold functions of
threshing, reaping, cleaning, and accumulating grains with ease.
Soil preparation & cultivation equipment can display 5.59% CAGR during the assessment period due to use
of various tools such as rotary tiller, plows, cultivators, and others.

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Powered agricultural implements market Forecast To 2023
Global Powered agricultural implements market - Geographical Analysis
Geographically, the Powered agricultural implements market spans across regions namely, North America, Europe,
Asia Pacific, and the Middle East and Africa.
Among all the regions, Asia Pacific is predicted to account for 33.47 % share in 2016 with a market value of USD
23.3 billion. The region comprises more than 60 % of the world’s population and is estimated to increase in the
future. Use of agricultural machinery and equipment which can cater to humongous need for foods in India and
China can drive the Powered agricultural implements market growth. The region is backed by subsidies provided
by state and the central governments can work favorably for the market.
North America was the second largest region with a value pegged at USD 20.2 billion in 2016. The region is host to
countries such as the United States which contribute to annual yields. Furthermore, the country is one of the
biggest producers of soybean, corn, and maize which can induce the demand for powerful mechanized farming
equipment. Self-guiding machines are expected to be the next development in farming machinery which can used
in taking proactive and preventive measures in farming.
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Powered agricultural implements market Forecast To 2023
Global Powered agricultural implements market - Competitive Analysis
• Key market players include AGCO Corporation (U.S.), Iseki & Co. Ltd (Japan), John Deere & Co. (U.S.), Escorts
Group (India), CNH Industrial (U.K), Mahindra & Mahindra Ltd (India), Alamo Group Inc. (U.S.), SDF S.P.A. (Italy),
CLAAS Group (Germany), and Kubota Corporation (Japan).
Industry News
• Feb 2019 – John Deere, one of the biggest names in farming equipment, has launched its latest tractor, GridCON
which foregoes the use of a battery and relies on a power extension cord for running at close to 400 horsepower.
Research engineers at the company have decided to lower the vehicle weight further to enhance its efficiency.
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