Planting Machines Global Market Report 2023
Major players in the planting machines market are AGCO Corp, Bourgault Industries Ltd, Bucher Industries AG, CLAAS KGaA mbH, CNH Industrial NV, Deere & Co, ISEKI & Co. Ltd, Kubota Corp., Mahindra & Mahindra Ltd, and Yanmar Holdings Co.
New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Planting Machines Global Market Report 2023" - https://www.reportlinker.com/p06282477/?utm_source=GNW
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The global planting machines market will grow from $47.28 billion in 2022 to $51.12 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The planting machines market is expected to grow to $68.82 billion in 2027 at a CAGR of 7.7%.
Planting machines market consists of sales of precision planters (row crop), grain drills, broadcasters, potato planters, vegetable planters, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Planting machines refer to any type of machinery, equipment and apparatus used for industrial activity.
The Asia Pacific was the largest region in the planting machines market in 2022.North America was the second largest region in the planting machines market.
The regions covered in the planting machines report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of planting machines are planting machinery and fertilizing machinery.Planting machinery refers to an apparatus, equipment, machinery, pipelines, or telecommunication tower fixed to earth by foundation or structural support that are used for making outward supply and includes foundation and structural supports.
The machinery used is seed drills, planters, air seeders, and other machinery. The designs are automatic and mechanical.
The workforce shortage in agriculture is expected to drive the planting machines market.An increase in urbanization followed by an increased high-level literacy rate has decreased the available personnel for farm work.
For instance, as per the National Bureau of Statistics China, the rural population has substantially reduced by 23% in the past two decades.In July according to 2021 Farm Journal Labor Survey, as opposed to 30% in 2020, nearly two-thirds (66%) of respondents stated they had "some" or "a lot of difficulty" finding appropriate employees.
According to the 2021 Farm Journal Labor Survey, it is more difficult to fill positions for most farm employers (87%), compared to ag retailers (91%).
Alternative food production methods are anticipated to hinder the planting machine market.New techniques like hydroponics, aeroponics, vertical farming, and lab-grown food have grown and are expected to grow more in the coming years as an alternative to the traditional method of agriculture.
For instance, Future Farms, a Chennai-based start-up reduced water consumption by 90% through hydroponic farms, while increasing yield by around four times. The high yield rate with less area and water, decrease in arable land, and water scarcity further propels the demand for alternative techniques which acts as a major restraint for the planting machines market’s growth.
Major players operating in the market are focusing on introducing advanced technologies to decrease cost and boost production.The companies are introducing drones for planting seeds that address the labor shortage and also give higher productivity.
For instance, in May 2020, XAG, a China-based company engaged in manufacturing agricultural drones launched a new drone for rice seeding, to relieve the shortage of labor in agriculture. Moreover, in September 2020, Dendra Systems, a manufacturer of global ecosystem restoration tools raised $10 million in Series A to restore the ecosystem by drone.
In March 2020, Escorts Limited, a global Indian conglomerate, and automotive engineering corporation operating in Agri machinery, building & material handling, and railway equipment industries has acquired two crore equity shares of Kubota Agricultural Machinery from Kubota Corporation Japan for approximately $11.96 million (INR 90 crore). The acquisition aimed at expanding the product portfolio and geographical presence of Escorts Limited. Kubota Agricultural Machinery is a Japan-based agricultural equipment division of Kubota Corporation Japan that produces planting machines.
The countries covered in the planting machines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The planting machines market research report is one of a series of new reports that provides planting machines market statistics, including planting machines industry global market size, regional shares, competitors with a planting machines market share, detailed planting machines market segments, market trends and opportunities, and any further data you may need to thrive in the planting machines industry. This planting machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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