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The ploughing and cultivating machinery market size is forecast to increase by USD 4.78 billion, at a CAGR of 6.59% between 2023 and 2028. The Ploughing and Cultivating Machinery Market is experiencing significant growth due to several key factors. Firstly, there is a growing trend of government support for agricultural practices worldwide, which is driving the demand for advanced farming equipment. Secondly, population growth and the resulting high demand for food products necessitate increased agricultural productivity, making farm mechanization an essential investment for farmers. This emphasis on farm mechanization is further fueled by advancements in technology, which offer more efficient and cost-effective solutions for ploughing and cultivating. Overall, these factors are expected to continue driving the growth of the Ploughing and Cultivating Machinery Market in the coming years.
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Human civilization has been shaped by agricultural practices like plowing and the continuous evolution of inventions such as tillage equipment. These innovations have significantly increased yield and efficiency in crop cultivation while influencing land use patterns worldwide. Emphasis on sustainable farming practices has led to the development of variable-width plowing systems and advanced field operations aimed at optimizing crop production. Technological advancements like disc harrows, rotary tillers, and precision depth control systems enhance soil management and weed control, while promoting the integration of crop residues for improved soil health. Innovations such as automated steering systems and GPS technology further enhance efficiency by reducing soil compaction and minimizing weed competition.
Key Market Driver
The growing government support for agricultural practices globally is notably driving market. To promote agricultural practices, various government and non-government bodies around the world are introducing several initiatives aimed at improving productivity. The European Union is offering funding and support to young farmers aged 40 years or below (at the time of applying) to start a farming business. The funding is up to 5 years after the start of farming operations and also gives young farmers a priority status when it comes to direct payment entitlements from the national/regional reserve. Such initiatives encourage the purchase and deployment of ploughing and cultivating machinery by farmers in the region.
Moreover, farmers can use this loan amount to purchase farmland and agricultural equipment such as ploughing and cultivating machinery and improve their agricultural output. Such initiatives by the governments of various countries to improve farm mechanization will support the global market during the forecast period.
Significant Market Trend
The increasing number of product launches is the primary trend in the market. companies operating in the market are focused on extending their product range by launching new products. The introduction of new products in the market helps the companies to increase the sales of machines and thus increase their market share.
Moreover, companies in the market are trying to attract more consumers by introducing new machines with advanced features and offering machines with patented features. They also focus on providing lower-capacity machines to meet the needs of small farm owners. Thus, the introduction of new models will help increase sales, which will positively affect the global market during the forecast period.
Major Challenge
The high cost of machinery is the major challenge impeding market. The use of ploughing and cultivating machines in agricultural fields has been very limited. Since such equipment is used only during sowing, the investment made to acquire it is usually quite large. In addition, air drills are used exclusively on large compacted fields, which limits their use.
However, the high cost of ploughing and cultivating machines and their limited use make the purchase of such equipment a challenge for small and medium-sized farmers with limited financial resources. A large number of farmers work in rural areas of developing countries and have limited budgets for new agricultural equipment. Due to their limited use, ploughing and cultivating machines can be considered less important than other agricultural machines used for different purposes throughout the year. This is expected to curb the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CLAAS KGaA mbH - The company offers ploughing and cultivating machinery that is used for delivering optimal seed placement and even emergence across a wide range of field conditions. The company operates in a single operating segment which manufactures agricultural equipment.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the ploughing and cultivation parts segment will be significant during the forecast period. With increased mechanization and incorporation of independent functions into farming operations, the need for fully automatic ploughing and cultivating machines has increased. The expansion of partial autonomy of ploughing and cultivation machines forced manufacturers to bring new products to the market. The growth of the market is anticipated to boost the demand for sustainable agriculture and efficient management of natural resources in the coming years.
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The ploughing and cultivation parts segment was valued at USD 3.37 billion in 2018. Major competitors in the industry, including JBT Corporation and Textron GSE, rely more on the distribution channel to improve supply chain efficiency. To market their goods and services, these companies look for local distributors and retailers. Due to this, the demand for automatic ploughing and cultivation machines will increase during the forecast period.
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APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China, India, Japan, and Australia are the major markets for ploughing and cultivating machinery in APAC. The presence of government initiatives that support sustainable agricultural practices drives the market in APAC. The Government of India and several international organizations strategize to improve soil health, water management and irrigation, seed varieties and hybrids, integrated pest management, credit financing, and farm mechanization. The governments of several other countries also provide subsidies to farmers to purchase different types of farm and agricultural equipment, including ploughing and cultivating machinery. Such initiatives will drive the growth of the market in APAC during the forecast period
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
1. India - Agricultural Machinery Market by Product and Application - Forecast and Analysis
2. Agricultural Machinery Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, India, Indonesia, Brazil - Size and Forecast
3. US Agricultural Machinery Market by Application and Type - Forecast and Analysis
The evolution of agriculture through mechanization has revolutionized soil preparation and contributed significantly to food security amidst a rising global population. Beginning with the industrial revolution and the invention of the steel plow, advancements in engineering led to the development of tractor-mounted plows equipped with hydraulic systems and precision guidance technology. Technological innovations like remote sensing capabilities and precision agriculture, supported by data analytics and machine learning algorithms, optimize seedbed preparation and enhance crop yields while minimizing environmental impact. Practices such as using reversible plows for managing soil clods and creating optimal seedbeds aid in efficient planting and increased crop output. The integration of sustainability principles promotes the conservation of natural resources in farming, ensuring progress in agriculture aligns with the goal of feeding a growing global population. The global market value of plowing and cultivating machinery underscores their critical role in modern agriculture's ability to meet the challenges of the 21st century.
Industry Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.59% |
Market growth 2024-2028 |
USD 4.78 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.18 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key countries |
US, China, India, Indonesia, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGCO Corp., Alamo Group Inc., BEDNAR FMT sro, Bucher Industries AG, CLAAS KGaA mBH, CNH Industrial NV, Deere and Co., Dewulf, Great Plains Manufacturing Inc., Gregoire Besson SAS, HORSCH Maschinen GmbH, Kubota Corp., Landoll Co. LLC, LEMKEN GmbH and Co. KG, Mahindra and Mahindra Ltd., Mfg. Co. Inc., Opico, Sonalika International Tractors Ltd., Titan Machinery Inc., and Yanmar Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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