Agriculture is undoubtedly one of the ground-breaking revolutions in the history of the world. With the passage of time, and improvement in applied technology, machineries have become an indispensable part of agriculture and forestry. A large variety of equipments like bed-tillers, harrows, cultivators, sprayers, rotators, de-stoners, drillers, tractors etc. are extensively used in agriculture, while forestry equipments include chain-saws, harvesters, trailers, winches, chippers, and skidder cranes. These machineries and equipments help to increase work efficiency and precision.
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The market for agriculture and forestry machinery has recently seen high growth, and the same trend is expected to follow in the next five years. The Asia-Pacific region showed unparalleled growth, accounting for more than double the demand from the rest of the world. China is expected to outgrow the USA in terms of equipment production and export. Brazil and India are also expected to sustain their phenomenal increase in demand as well as production. The EU has also sustained slow growth, mainly due to the demand from Germany, France, and Italy. Russia also witnessed a strong growth in tractor sales. Asia and Eastern-Europe are expected to drive the growth in the demand for agriculture and forestry equipment.
One of the primary drivers for this market is the rapidly expanding population in Asian countries, driving the need for increased agriculture output. With the governments pressing for mechanized agriculture, it is natural for this market to grow and technology is another driver for this market. Better products developed for increased operational efficiency in the agricultural land or the forests drive its sales. Forest cover is reduced to accommodate people in ever expanding cities. Also, there is a huge demand for timber-woods and forest biomass in the EU and the USA, which drives the growth in the demand for forestry machineries.
One of the major restraints of this industry is the lack of information about products among farmers. Agriculture is the mainstay of the rural population, who often in developing countries lack the knowledge about the efficiencies of agricultural machineries. The initial capital requirement also acts as a deterrent in some cases. However, this trend is changing quickly due to government interventions and awareness programs.
Some of the main manufacturers of agriculture equipments include AGCO Group, Mahindra Group, Kuhn Group, Kubota Corp, Same Deutz-Fahr Group, among others. Forestry machinery manufacturers include Hubei Machinery and Equipment, Weifang Euroking Machinery, Boneng Transmission Co., AGROSTROJ Pelhrimov a.s, and John Deere, among many others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
· North America
· Asia Pacific
· Rest of the World
This report provides comprehensive analysis of
· Market growth drivers
· Factors limiting market growth
· Current market trends
· Market structure
· Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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