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[ 英語タイトル ] Agricultural Machinery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Product Code : MDAG00112360
Survey : Mordor Intelligence
Publish On : May, 2021
Category : Agriculture and Allied Activities
Report format : PDF
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[Report Description]

The Global Agriculture Machinery market is estimated to register a CAGR of 8.0% during the forecast period. With such a drastic COVID-19 impact, the agriculture machinery industry requested some flexibility for machines to be fitted with transition engines already manufactured and procured before the crisis. As global supply chains were disrupted and manufacturing industries closed down in accordance with government measures to prevent the spread of the virus, the market has slowed down during the pandemic. Tractors accounted for over 50.0% of the market share in the global agricultural machinery market in 2020. High demand for agricultural products and increasing farm mechanization rates in developing countries are driving the growth in the industry. The Asia-Pacific region is expected to grow rapidly over the forecast period, due to the increase in population in countries, particularly India and China, followed by Europe and North America. The market concentration for global agricultural machinery is consolidated with the presence of a few large players, like AGCO Corporation, Deere and Company, Iseki Co., Ltd, and CNH Industrial NV, are dominating the market.

Key Market Trends

Growing Demand for Farm Mechanisation in India

The global market for agricultural machinery is driven by the increasing rates of mechanization in developing countries. Tractors accounted for over half of the market share in the global agricultural machinery market in 2020. The main reason behind the increase in farm mechanization is the decreased percentage of agricultural labour across the globe. Farm mechanisation emerges as an important technological intervention for giving the desired productivity push to the country’s agricultural sector. Moreover, leveraging mechanisation by means of custom hiring services (CHSs) not only helps in increasing agricultural productivity but also identifying ways of increasing the and adoption of mechanised farming by a larger group of small and marginal farmers.

Asia- Pacific the Fastest Growing Region

The Asia-Pacific region is expected to grow rapidly due to the high demand for agricultural products, particularly from India and China, over the forecast period. Within Asian, China dominates in terms of production and sale of agriculture equipment, while India, Japan, and Australia, are expected to contribute a significant share in the global market in the coming years, thereby surpassing Europe as the largest market. The population in the region is rising, driving the need for mechanization of agriculture. Owing to the high demand and increasing labor costs, the tractor market in the region is estimated to register a CAGR of 6.1% during the forecast period. According to the World Bank database, the total population in the Asia-Pacific region is set to reach 4.17 billion in 2030.This further signifies that the demand for food and other agricultural products will continue to grow, thereby surging the demand for agricultural machinery to achieve optimal efficiency in production.

Competitive Landscape

The market is highly competitive, owing to the presence of few prominent players, accounting for more than half of the market. The key players in the market include Deere and Company, AGCO Corporation, CNH Industrial NV, Iseki & Co. Ltd., and Kubota Corporation. The main strategy adopted by the key players is to invest in R&D to encourage innovation and maintain a strong market base. The advent of advanced technologies, like artificial intelligence, robotics, Google Earth, and the growing number of government initiatives are driving the demand for agricultural machinery.

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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study



4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5.1 Type
5.1.1 Tractors Horsepower Less than 40 HP 40 HP to 99 HP Greater than 100 HP Type Compact Utility Tractors Utility Tractors Row Crop Tractors
5.1.2 Ploughing and Cultivating Machinery Ploughs Harrows Cultivators and Tillers Other Ploughing and Cultivating Machinery
5.1.3 Planting Machinery Seed Drills Planters Spreaders Other Planting Machinery
5.1.4 Harvesting Machinery Combine Harvesters- Threshers Forage Harvesters Other Harvesting Machinery
5.1.5 Haying and Forage Machinery Mower- Conditioners Balers Other Haying and Forage Machinery
5.1.6 Irrigation Machinery Sprinkler Irrigation Drip Irrigation Other Irrigation Machinery
5.1.7 Other Types
5.2 Geography
5.2.1 North America United States Canada Mexico Rest of North America
5.2.2 Europe Germany United Kingdom France Rest of Europe
5.2.3 Asia-Pacific China India Japan Australia Rest of Asia-Pacific
5.2.4 South America Brazil Argentina Rest of Latin America
5.2.5 Africa South Africa Rest of Africa

6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Deere & Company
6.3.2 CNH Industrial NV
6.3.3 AGCO Corporation
6.3.4 Mahindra & Mahindra Limited
6.3.5 Kubota Corporation
6.3.6 Iseki & Co. Ltd
6.3.7 Escorts Limited
6.3.8 Daedong Industrial Co. Ltd
6.3.9 JC Bamford Excavators Limited
6.3.10 Lindsay Corporation





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