Showing posts with label International Farm Machinery Industry. Show all posts
Showing posts with label International Farm Machinery Industry. Show all posts

Thursday, July 13, 2023

Rising Farmers Income Enables the Global Agriculture Equipment Market to Reach Around USD 250 Bn by 2027: Ken Research

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Global Agriculture Equipment Market Ecosystem

The Global Equipment Market is fragmented and has high intensified competition within industry players. The top ten competitors in the market made up to one third of the total market in 2020. Major players in the market include Deere & Company, AGCO Corporation, Agro Centre ESCORTS and Mahindra are the key players in Global Agriculture Services Market. The market is largely driven by growing awareness about modernized agriculture equipment among people along with the rising income of farmers.

Global Agriculture Services Market

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1. Worldwide Growing Population Becomes the Cause to Worry about Food Security; Farm Machinery Comes with Producing More in Less Time.

Global Agriculture Services Market

World population as of 2022 is at around 8 bn, further expected to touch to 9 bn by 2030. Such rapid growth is associated with rising demand for resources such as food and water, energy, and space, as well as better sanitation, education, and better access to healthcare. To maintain balance agriculture equipment aids in the cultivation of more crops in less time and effort, resulting in an increased food supply for the growing population. Consequently, as the worldwide population grows, so does the demand for agricultural equipment, which propels the agriculture equipment market to move ahead. In addition to this Population growth is fastly accelerating, intensifying the pressure on food production. This, in turn, leads to higher food insecurity, more greenhouse gas emissions, and large-scale environmental degradation. Food production, therefore, needs to adapt to accommodate a growing population and a changing climate. Globally, the market is showing substantial traction due to the growing population and the resulting need for improved productivity to meet the food demand.

2. Farmers’ Income Has Doubled Since Last Decade Worldwide: Sets The Path For The Agriculture Equipment Market to Grow Enormously.

Global Agriculture Services Market

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According to the world bank- Global agricultural productivity and rural income have been increasing in recent years, but there are still significant disparities between regions and within countries. In many low-income countries farmers continue to face challenges such as limited access to credit technologies and markets which can impede their ability to increase their incomes and livelihoods. In addition, climate change and other environmental factors are impacting agricultural production and income, particularly for smallholder farmers who rely on rain-fed agriculture. The report suggests that climate change could reduce global agricultural income by up to 30% by 2080, with the greatest impacts expected in low-income countries.

Overall, while there have been some improvements in farmers’ incomes globally, there is still much work to be done to ensure that all farmers have the resources and support they need to thrive.

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Global Agriculture Equipment Market

Wednesday, May 10, 2023

Various Government Plans Enable the Global Agriculture Equipment Market to Reach Around USD 150 in 2021: Ken Research

Increasing Awareness Regarding Equipment Benefits and Favorable Government Policies Collectively Strengthening Global Agriculture Equipment Market; collectively helping the market to cross USD 250 Bn mark by 2027, says a report by Ken Research.

1. How technology may address challenges in agriculture? Increasing awareness of machinery benefits amongst farmers boosts the global farming machinery industry.

Global Agriculture Equipment Market Outlook

Technological Incorporation in Agriculture: Click to know more

Agriculture causes about 20% of human-caused greenhouse gas emissions and uses up to almost 90% of the world’s freshwater. Around 40% of food grown goes unfed. China loses roughly 35 million tons of grain before retail each year, or about 5% of the 700 Mn tons of grain produced in 2021. Human ingenuity, scientific breakthroughs and technological advances have given the world an unprecedented array of tools to transform the food system and mitigate its impact on nature and climate. Five of every six farms in the world are smaller than two hectares (the size of about three soccer fields) and collectively they produce a third of the world’s food. Whereas China, smallholder farmers account for as high as 80% of food production.

As a primary sector that employs millions of people directly and throughout the supply chain, agriculture has lagged behind many other sectors in digitalization and application of digital technology. Fortunately, however, it is not too late to buckle up, but the sector needs more investment, more new ideas and more involvement.

2. International Governmental Initiatives for AI in Agriculture; Giving Boosts to the Technological Incorporation in the Farming Worldwide.

Global Agriculture Equipment Market Outlook

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A rising number of international organizations, governments, non-governmental organizations, and non-profits are focusing on data-driven agriculture programmes. Their efforts include teaching, facilities, grants, and financing, as well as open data and data gathering infrastructures. Data gathering infrastructures are critical since they serve as the foundation for substantial AI advances in agriculture. Examples include FAO, GARDIAN, CIMMYT, USDA, and GODAN.

3. Global Food Demand has been Rising; Ultimately, Shifting the Farming Machinery Market at an advantageous Situation.

Global Agriculture Equipment Market Outlook

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Agricultural practices are and will be shifting toward an efficient data driven industry for an obvious reason; the global food demand is increasing drastically. The world population by 2050 is expected to be almost 10 bn, and the world food demand is expected to increase by around 55%-95% between 2005 and 2050.  Crop yield around the world is estimated to be affected adversely by climate change. The demand for more food is to be addressed by adopting technologies in Agri-business that improve efficiency in sustainable and climate friendly manners. Wide spread adoption of precision agriculture is the most effective approach to improve yield and save on costs with minimal environmental footprints. This current transformation opens up doors for farmers and growers to adopt AI and data driven practices for an obvious reason, expected to gain momentum in the near future.

Major Players

  • AGCO Corporation
  • FlieglAgro-Center GmbH
  • Agromaster
  • Amazone Inc.
  • APV GmbH
  • Bellota Agrisolutions
  • CLAAS KGaAmbH
  • CNH Industrial N.V.
  • Deere & Company
  • Escorts Limited
  • HORSCH Maschinen GmbH
  • ISEKI & Co., Ltd.
  • J C Bamford Excavators Ltd
  • Quivogne CEE GmbH (Kiwon RUS LLC)
  • Rostselmash
  • KRUKOWIAK
  • KUBOTA Corporation
  • KUHN SAS
  • LEMKEN GmbH & Co. KG
  • Mahindra & Mahindra Ltd.
  • MascarSpA
  • MaschioGaspardo S.p.A
  • MaterMacc S.p.A
  • Morris Equipment Ltd
  • SDF S.p.A.
  • Tractors and Farm Equipment Limited (TAFE)
  • Väderstad AB
  • Valmont Industries, Inc

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Farm Machinery Providers
  • Agriculture Equipment Distributors
  • Agriculture Equipment Manufacturers
  • Government Bodies & Regulating Authorities
  • Existing Farm Services providers
  • New Market Entrants
  • Investors

Time Period Captured in the Report

  • Historical Period: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Agriculture Equipment Market

Related Reports by Ken Research:-

France Agriculture Equipment Market Outlook to 2027F

Germany Agricultural Equipment Market Outlook to 2027F