Growth of Agricultural Machinery Market Attributed to Thriving Demand for 4WD Tractors in Agriculture Industry

According to a recent business publication by IndustryARC the global agricultural machinery market size was around $170 billion - $175 billion in 2018, and its value is projected to grow at a CAGR of less than 6% during the forecast period 2019-2025. This information is presented in a new market research report from IndustryARC, titled: “Agricultural Machinery Market: By automation (Fully-automatic, semi-automatic, manual); By Type of material ( Structured steel, alloyed steel , cast materials, light alloy, wearing materials, structured material, aluminum, iron, glass, others); By Type (Tractor, soil cultivation, planting, irrigation, fertilization, harvesting, hay making, loader, agriculture robots, others); By Geography - Forecast (2019 - 2025).” 

Agricultural machinery is a machinery which is predominantly used in both organic and inorganic farming. Farm implements, hand tools, power tools, haying and forage equipment, irrigation machinery and tractors are majorly used equipment in the agriculture industry. Modern mechanized agriculture deals with starting from small hand held implements to complex harvesters. Agricultural threshing machine reduces the time taken by a farmer in threshing grains and need of labor to produce cleaner agricultural products. Small and lighter machinery are widely used in agriculture fields to reduce the soil erosion and also to improve the soil compactness. 

Irrigation application holds a major share in the agricultural machinery market and is estimated to grow at a healthy CAGR of nearly 10% over the forecast period 2019-2025. Advancements in smart irrigation machinery coupled with the on-farm sensor technologies, satellite vegetation imagery, and weather forecasting offers massive sources of big data for farmers to augment the use of inadequate water resources in developing crop yields with improved profits. On the basis of geographical analysis provided in the IndustryARC market research report, APAC region held a major share of around 40% - 45% among other regions of the agricultural machinery market for the year 2018. Increasing government regulations and government assistance programs to modernize the agriculture process are rising the demand for agricultural machineries in Asian Countries such as Indonesia, China, India, and Japan. Established footprints of major agriculture machinery manufacturers in this region are retaining APAC to be the dominating region through to 2025.

Some of the major companies identified in the report that are currently holding majority shares in the global agricultural machinery market are AGCO, John Deere, CLAAS, Massey Ferguson, Argo Group, Mahindra and Mahindra, Hunter Industries, Toro Corp., Jain Irrigation, Bucher Industries, CNH Industrial, Kvernerland Group, SDF Group, Kubota, Lindsay Corp.

India Farm Equipment Market: By Type (Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Others); By Phase (Land Development, Sowing, Planting, Cultivation, Harvesting, Threshing, Others); By State - Forecast(2018 - 2023)

Farm Equipment Market: By Type (Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Hay and Forage Equipment, Crop processing Equipment, Seeding Equipment, Grain Handling Equipment, Cutters and Shredders, Sprayers ); By Phase (Land Development, Sowing, Planting, Cultivation, Harvesting, Threshing, Others); By Application (Agri Equipment, Construction Equipment, Chemical Applications, Financing Equipment, Material Handling Equipment, Snow Removal Equipment, Property Maintainance Equipment); By Geography - Forecast (2019-2025)