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The ploughing and cultivating machinery market size is forecast to increase by USD 4,669.57 million, at a CAGR of 6.8% between 2022 and 2027.
The growth of the market depends on several factors, including growing government support for agricultural practices globally, population growth and high demand for food products, and growing emphasis on farm mechanization. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing government support for agricultural practices globally is notably driving the market, although factors such as the high cost of ploughing and cultivating machinery may impede the market. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
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.
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.
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.
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 3,194.56 million in 2017 and continue to grow by 2021. 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 39% 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 report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and growth opportunities from 2017 to 2027.
In the realm of agricultural technology, ploughing and cultivating machinery play a pivotal role in soil preparation and farming efficiency. These essential tillage implements, including cultivators and ploughing equipment, are integral components of modern farm machinery. Designed for soil cultivation and seedbed preparation, these agricultural implements are tractor attachments that aid in field cultivation.
The continuous advancements in agricultural machinery underscore the significance of soil management and optimal soil tillage practices. Farmers leverage a variety of farming tools and agricultural implements to enhance soil preparation, emphasizing the importance of effective cultivation methods. As the agricultural industry evolves, the adoption of innovative ploughing and cultivating machinery reflects the commitment to sustainable and efficient farming practices, contributing to the overall progress of the farming sector.
Ploughing And Cultivating Machinery Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.8% |
Market growth 2023-2027 |
USD 4,669.57 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.31 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
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, CNH Industrial NV, Deere and Co., Dewulf, Great Plains Manufacturing Inc., Gregoire Besson SAS, HORSCH Maschinen GmbH, Kubota Corp., Landoll Co. LLC, LEMKEN GmbH & Co. KG, Mahindra & Mahindra Ltd., Mfg. Co. Inc., Sonalika International Tractors Ltd., Titan Machinery, Yanmar Holdings Co. Ltd., CLAAS KGaA mbH, and Opico |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our 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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