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Global Powered Agriculture Equipment Market Size, Trends, and Analysis - Forecasts To 2026 By Equipment Type (Tractor. Combine Harvesters, Planters, Sprayers, Others), By Application (Harvesting, Sowing, and Planting, Spraying and Fertilizing, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The market of powered agriculture equipment consists of an array of products such as tractors, combine harvesters, planters, sprayers among others. These types of equipment come in handy during various processes of farming like sowing seeds, spraying fertilizers, harvesting, and is a much efficient replacement to traditional methods. The rise in demand for powered agriculture equipment is contributed to increased awareness about advanced farming equipment among farmers. During the COVID-19 pandemic agriculture equipment played a major role in the self-sufficiency of various regions, companies, and countries has boosted the market growth. The growing demand for food production and rapid population growth are the major factors supporting the market growth.
By equipment type, the market is analyzed into tractors, combine harvesters, planters, and sprayers, among others. The market is dominated by the tractors segment due to their multifunctionality followed by combine harvesters, which is also known to be the most expensive agriculture equipment. They are useful in combining various activities such as reaping, threshing, collecting grains, and cleaning. Sprayers also play a useful role in agriculture as it is used to deploy Crop Protection Products (CPP).
Based on the application analysis, the market is categorized and explained into fertilizing, spraying, harvesting, and sowing & planting among others. The harvesting application occupied a major share in the market. The growing technological advancements in harvesting machines along with growing harvesting activities globally is supporting the market growth.
The Asia Pacific region generated the highest revenue globally followed by North America. The population growth and a growing need to yield more crops per area and having a year-long supply chain of crops are the factors driving the regional growth. Favorable government policies and investments in the agriculture industry positively impacting the market. The presence of prominent players such as Yamaha, Mahindra & Mahindra, Tirth Agro Technology Private, and Kubota, among others holds a significant share in the agriculture equipment market.
Robert Bosch GmbH, Abundant Robotics Inc., Robotics Plus, AeroVironment, Inc., ecoRobotix Ltd, AGCO Corporation, Tractors and Farm Equipment Ltd, CLAAS Group, Yanmar Co. Ltd, CNH Industrial N.V., Yamaha Motor Co. Ltd, Deepfield Robotics, Deere & Company, Tirth Agro Technology Private Limited, Harvest Automation Inc., Parrot SA, ISEKI & CO. Ltd., Zetor Tractors a.s, Kinze Manufacturing, Trimble Inc, Kubota Corporation, SDF Group, Mahindra & Mahindra Ltd., and PrecisionHawk Inc among others are the major competitors in the powered agriculture equipment market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Powered Agriculture Equipment Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Powered Agriculture Equipment Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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