Dublin, Oct. 01, 2020 (GLOBE NEWSWIRE) -- The "Global Farm Equipment Market by Tractor Power Output (&lessThan;30, 31-70, 71-130, 131-250, >250HP), Drive (2WD, 4WD) & Autonomous, Combines, Baler, Sprayer, implement (Plowing & Cultivating, Sowing & Planting, Harvesting & Threshing), Rental and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global farm equipment market is projected to reach USD 113 billion by 2025 from an estimated USD 92.2 billion in 2020 at a CAGR of 4.2% during the forecast period.
The primary reason for growing farm equipment market is the government efforts to popularize mechanized farming methods. Subsidized loans, credit finance, loan waivers is strongly driving sales of farm equipment. Also, growing popularity of rental services is also expected to attract farmers to adopt modern farming methods.
Four-wheel drive tractor is expected to remain the fastest market in farm tractor rental market
Four-wheel drive is expected to be the fastest growing market in the farm tractor rental market in the forecast period. The growing demand for efficient pulling power is driving the rental demand for four-wheel drive tractors. The availability of low powered tractors with four-wheel drive is expected to be a major factor for the growing demand of rental services in countries with small farmlands such as Asia Oceania. Europe and North America already have more matured rental market than Asia Oceania and RoW. Also, expansion of various key domestic and global players in the rental business by launching their rental services is expected to create awareness about renting tractors among farmers.
Although the COVID-19 has disrupted the whole supply chain, the agricultural industry seemed to have been impacted the least amongst all the off-highway equipment industry (Construction & Mining, Agriculture Equipment). This is primarily owing to the steps taken by the government to consider agricultural activities under essential services. The agricultural industry faced four major challenges amidst COVID-19 - limited supply of farm equipment parts, drop in the first half of new tractor sales, the shutdown of production facilities, and a decline in working capital. Despite the impact of COVID-19 on the farm equipment market, the market is expected to revive by the 2020-year end.
Sowing & Planting is expected to remain the fastest market by implement function
Sowing & Planting is expected to be the fastest growing market in the implement function market. Mechanized sowing & planting have several advantages as compared to manual sowing. In mechanized sowing, fewer seeds are required, germination is rapid and uniform, and sometimes fertilizers and manures can be applied with title deeds. Thus, the adoption of mechanized farming can reduce the overall costs of farmers, and thereby encourage farmers to invest in sowing & planting implements. Thu, farmers are shifting toward sowing and planting implements to overcome the losses and achieve maximum production.
Asia Oceania is expected to register the largest growth during the forecast period.
The Asia Oceania is expected to be the largest market for farm equipment market in the coming years. The growing population of the region is driving farmers to adopt mechanized farming methods for increased farm produce in less time. Efforts by government mainly in the form of loan waivers/monetary aid, training sessions about modern farming methods is fueling farm equipment popularity significantly. Increasing new product launches designed as per the market needs with reasonable prices is also expected to be a driving factor for the market. Thus, Asia Oceania is expected to hold the largest potential for farm equipment among all other regions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Farm Equipment Market Trends, Forecasts & Opportunities
4.2 Farm Equipment Rental Market, by Equipment Type
4.3 Farm Equipment Market, by Equipment Type
4.4 Farm Tractor Market, by Region
4.5 Farm Tractor Market, by Drive Type
4.6 Farm Tractor Market, by Power Output
4.7 Implements Market, by Function
4.8 Autonomous Tractor Market, by Power Output
4.9 Farm Tractor Rental Market, by Drive Type
4.10 Farm Tractor Rental Market, by Power Output
5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Global Healthcare & Economy - Recovery from COVID-19 Impact & Health Assessment
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Government Support with Farm Loan Waivers/Credit Finance
5.4.1.2 OEM/Sales Incentives to Support Dealer Service and Rental Operations
5.4.1.3 Contract Farming
5.4.1.4 Increase in Farm Mechanization
5.4.2 Restraints
5.4.2.1 Growth of the Rental Market
5.4.2.2 High Cost of Equipment in Emerging Economies
5.4.3 Opportunities
5.4.3.1 Precision Agriculture
5.4.3.2 Increasing R&D and Adoption of Electric Tractors
5.4.4 Challenges
5.4.4.1 Rapidly Changing Emission Norms and Mandates
5.5 Farm Equipment Market: Scenario Analysis
5.5.1 Most Likely/Realistic Scenario
5.5.2 High COVID-19 Impact Scenario
5.5.3 Low COVID-19 Impact Scenario
5.6 Revenue Shift Driving Market Growth
5.7 Average Selling Price Trend of Tractors
5.8 Supply Chain Analysis
5.9 Ecosystem/Market Map
5.10 Case Study Analysis
6 Farm Tractor Market, by Power Output
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 &lessThan;30 HP
6.2.1 Small Farm Size in Several Countries is Expected to Drive the &lessThan;30 HP Tractor Market
6.3 31-70 HP
6.3.1 Government Subsidies and Loan Waivers is Expected to Drive the 31-70 HP Tractor Market
6.4 71-130 HP
6.4.1 Tractors with 71-130 HP are Suitable for Large Farmlands
6.5 131-250 HP
6.5.1 Europe is the Leading Market for 131-250 HP Tractors
6.6 >250 HP
6.6.1 >250 HP Tractors are Essential in Organized Farming Activities
7 Farm Tractor Market, by Drive Type
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Two-Wheel Drive
7.2.1 Two-Wheel Drive Tractors are Suitable for Sowing, Pasture Topping, and Fertilizer Spreading
7.3 Four-Wheel Drive
7.3.1 Increasing Launches of Low-Powered Four-Wheel Drive Tractors is Expected to Drive this Market
8 Farm Equipment Market, by Equipment Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Cereal Combines
8.2.1 Increasing Farm Mechanization is Expected to Drive Demand for Combines for Cereal Crops
8.3 Non-Cereal Combines
8.3.1 Improved Silage Quality Drive the Demand for Forage Harvesters
8.4 Balers
8.4.1 Minimized Wastage and Increased Productivity are Drive Balers Market
8.5 Sprayers
8.5.1 Large-Scale Production Drive the Demand for Fertilizers and Thereby Sprayers
9 Implements Market, by Function
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Plowing & Cultivating
9.2.1 Plowing & Cultivating Implements Increase Porosity of Soil and Enhance Water Absorbing Capacity
9.3 Sowing & Planting
9.3.1 Adoption of Sowing & Planting Implements Reduces Overall Costs Incurred by Farmers
9.4 Plant Protection & Fertilizing
9.4.1 Increasing Crop Production with Minimal Damage and Enhanced Food Quality Will Propel the Market for Plant Protection & Fertilizing Implements
9.5 Harvesting & Threshing
9.5.1 The Demand for Tractor-Mounted Harvesting and Threshing Implements are Expected to Witness Potential Growth Especially in Emerging Countries
9.6 Other Implements
9.6.1 Specific Farming Applications Drive the Demand for Other Implements
10 Farm Equipment Rental Market, by Equipment Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Tractors
10.2.1 Increasing Collaborations Between OEMs and Application Companies is Expected to Drive Market
10.3 Combines
10.3.1 Demand for Higher Productivity is Expected to Drive Combines Rental Market
10.4 Others
10.4.1 High Cost of Equipment is Expected to Drive Farmers to Rent Other Equipment
11 Farm Tractor Rental Market, by Power Output
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 &lessThan;30 HP
11.2.1 Demand for Utility/Compact Tractors is Expected to Drive&lessThan;30 HP Rental Market
11.3 31-70 HP
11.3.1 Tractors with 31-70 HP are Moderately Powered and are Easy to Use
11.4 71-130 HP
11.4.1 The Americas is the Largest Rental Market for Farm Tractor with 71-130 HP
11.5 131-250 HP
11.5.1 Demand for 131-250 HP Tractors is High in Europe to Perform Large-Scale Agricultural Operations
11.6 >250 HP
11.6.1 Increasing Demand for Commercial Farming is Expected to Drive >250 HP Market
12 Farm Tractor Rental Market, by Drive Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Two-Wheel Drive
12.2.1 Increased Demand for Rental Services in Emerging Countries is Expected to Drive the 2WD Rental Market
12.3 Four-Wheel Drive
12.3.1 Growing Demand for High-Powered Tractors is Expected to Drive this Market
13 Autonomous Tractor Market, by Power Output
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions
13.1.3 Industry Insights
13.2 &lessThan;30 HP
13.2.1 Smaller Farm Sizes is Expected to Drive the Demand in Asia-Oceania
13.3 31-100 HP
13.3.1 Increasing Demand for Commercial Farming with Large Farm Sizes is Expected to Drive the 31-100 HP Market
13.4 >100 HP
13.4.1 Increasing Popularity of Commercial Farming is Expected to Drive >100 HP Market
14 Farm Tractor Market, by Region
14.1 Introduction
14.2 Asia Oceania
14.3 Europe
14.4 North America
14.5 Row
15 Analyst's Recommendations
15.1 Asia Oceania is a Potential Market for Farm Equipment
15.2 Companies Should Increase Focus on Four-Wheel Drive Tractors
15.3 Growth of Autonomous Tractors in the Coming Years
15.4 Conclusion
16 Competitive Landscape
16.1 Overview
16.2 Market Evaluation Framework
16.3 Market Share Analysis
16.4 Revenue Analysis of Top Five Players
16.5 Key Market Developments
16.6 Competitive Scenario
16.6.1 New Product Development
16.6.2 Expansions
16.6.3 Acquisitions
16.6.4 Investment/Agreements
16.7 Right to Win
17 Company Evaluation Matrix and Competitive Profiles
17.1 Introduction
17.1.1 Star
17.1.2 Emerging Leader
17.1.3 Pervasive
17.1.4 Participant
17.2 Competitive Leadership Mapping: Farm Equipment Manufacturers
17.3 Competitive Benchmarking
17.4 Competitive Leadership Mapping: Farm Equipment Manufacturers
17.4.1 Competitive Benchmarking
17.4.1.1 Company-Wise Product Offering Analysis
17.4.1.2 Company-Wise Business Strategy Analysis
17.5 Company Profiles
17.5.1 John Deere
17.5.2 CNH Industrial
17.5.3 Mahindra & Mahindra
17.5.4 Agco Corporation
17.5.5 Kubota Corporation
17.5.6 Claas KGaA
17.5.7 Iseki & Co.
17.5.8 JCB
17.5.9 SDF Group
17.5.10 Yanmar
17.6 Additional Companies
17.6.1 Asia Oceania
17.6.1.1 Escorts Ltd.
17.6.1.2 Tractors and Farm Equipment Limited
17.6.1.3 Sonalika Group
17.6.1.4 Tong Yang Moolsan (TYM)
17.6.1.5 Daedong Industrial Company Ltd.
17.6.2 Europe
17.6.2.1 Exel Industries
17.6.2.2 Bucher Industries
17.6.2.3 Zetor Tractors
17.6.2.4 Argo Tractors S.p.A.
17.6.2.5 Agrostroj Pelhrimov A.S.
17.6.2.6 Concern Tractor Plants
17.6.2.7 Amazone H. Dreyer GmbH & Co. KG
17.6.3 North America
17.6.3.1 Alamo Group
17.6.3.2 Buhler Industries
17.6.3.3 Autonomous Tractor Corporation
18 Appendix
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