The Global Agricultural Implement Market Report by The Business Research Company covers agricultural implement market drivers and restraints, agricultural implement market size, major players, and the impact of COVID-19 on the agricultural implement market.
The agricultural implement market consists of sales of farm machinery and equipment, and lawn and garden tractor and home lawn and garden equipment by entities (organizations, sole traders or partnerships) that produce agricultural implements, including combines, cotton ginning machinery, fertilizing machinery (farm-type), haying machines, milking machines, planting machines (farm -type) poultry brooders, feeders and waterers, power lawnmowers, snowblower and throwers (residential-type) tractors and attachments (lawn and garden-type and farm-type).
Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period. The global agricultural implement market is expected to grow from $217.34 billion in 2020 to $237.52 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $320.39 billion in 2025 at a CAGR of 8%.
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Some agricultural implement market trends include driverless tractors and robots. They use GPS and sensors and can be controlled using a tablet or a smart phone. These technologies are known to considerably increase farm output and decrease labor costs. For instance, according to a report by Goldman Sachs, automated tractors can raise farmer revenue by more than 10% and reduce farm labor costs. Companies offering driverless tractor and robot technologies include CNH Industrial, Deere, and AGCO have already started developing such technology.
Global agricultural implement market segments include:
1) By Type: Farm Machinery And Equipment, Lawn And Garden Tractor And Home Lawn And Garden Equipment.
2) By Operation: Autonomous, Semi-autonomous, Manual.
3) By Application: Land Development and Seed Bed Preparation, Sowing and Planting, Weed Cultivation, Plant Protection, Harvesting and Threshing, Post-Harvest and Agro Processing.
4) By Capacity: Small, Medium, Large.
Subsegments Covered: Cotton Ginning Machinery, Feed Processing Equipment, Fertilizing Machinery, Haying Machines, Milking Machines, Planting Machines, Plows, Poultry Brooders, Feeders, And Waterers, Combines (i.e., Harvester-Threshers), Other Farm Machinery And Equipment, Push Lawn Mowers, Riding Mowers, Other Lawn And Garden Tractor And Home Lawn And Garden Equipment Manufacturing.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global agricultural implement market, accounting for 32% of the total market.
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The Agricultural Implement Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides agricultural implement market overviews, analyzes and forecasts market size, share, agricultural implement market players, agricultural implement market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The agricultural implement identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Agricultural Implement Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: John Deere, CNH, AGCO, CLAAS, Kubota
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Agricultural Implement Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Agricultural Implement Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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