Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Research Reports

Agricultural Equipment Market not an Outlier in COVID-19 Crisis, Market to Witness Subdued Momentum

Published : , on

Market players are seeking to introduce innovative solutions for small farms such as Rowbot to help farmers in field processes.

The global agricultural equipment market is anticipated to foresee a CAGR of 4.8% during the forecast period 2020-2030. The growth can be primarily attributed to unusually lesser arable land, holistic aid to high crop yield, as well as higher dependability of agrarian societies. However, the market demand has witnessed a slump amid the COVID-19 crisis leading to massive disruptions in the supply chains and labour shortages.

“AR will appear as the game-changer in the global market, since social distancing is becoming the new normal during the COVID-19 outbreak. Manufacturers are capitalizing AR technologies to address various issues in the agricultural sector. Furthermore, after-sales engineer can look at the problem at the site and assist the local technician consequently.” concludes the FMI analyst.

Request a report sample to gain comprehensive market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-523

Agricultural Equipment Market – Key Highlights

  • Europe remain the biggest producer and consumer in the global market, followed by North America.
  • Rental ownership is gaining traction among other categories over the forecast period.
  • The tractors category will remain lucrative among other product types due to increased adoption in small, medium and large firms.

Agricultural Equipment Market – Drivers

  • Usage of advanced cropping and harvesting methods to reduce or eliminate manual labor and turn-around time is a noteworthy aspect driving market growth.
  • Increased focus on farm productivity to capitalize on ROI is propelling agricultural equipment market growth.
  • Generous subsidies by various governments is scaling up the demand for agricultural equipment.

Agricultural Equipment Market – Restraints

  • Lack of awareness regarding the usage of agriculture equipment amid farmers can restrain the market growth.
  • Unavailability of proper resources in addition to high cost associated with the equipment negatively affect the adoption in the market.

COVID-19 Impact on the Market

The agricultural equipment market has encountered an adverse impact due to the COVID-19 outbreak. While labor shortages are obligating farmers to fall back to mechanization, dealerships of agricultural equipment are closed and credit lines are cut off. This is inducing an adverse impact on demand for tractors as majority of them are bought on credit. However, contract farming is assisting small-scale and poor farmers to alleviate the virus impact on secure supply chains and their revenue earnings.

Download Market Shares of Leading Players@https://www.futuremarketinsights.com/ask-question/rep-gb-523

Competitive Landscape

Key market players in the agricultural equipment market are Deere & Company, AGCO Corp, CLAAS KGaA mbH, Bucher Industries AG, EXEL Industries, Kubota Corporation, and CNH Industrial N.V.

Players are set to the age demographics of farmers in matured regions which is fueling structural changes in a farm set ups. Furthermore, leading players are falling back to automation of their equipment for higher profit revenue.

Get full Report Now@ https://www.futuremarketinsights.com/checkout/523

About the Study

The study offers readers a comprehensive assessment of the Agricultural Equipment market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (tractors, rotavators {wheel type and crawler type}, threshers & dehuskers {wheel type and crawler type}, power tillers {wheel type and crawler type}, power weeder{wheel type and crawler type}, plough, baler and seed drill), category (tractor pulled / attachment and self-propelled), ownership (individual and rental), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).

Explore FMI’s Coverage of the Industrial Automation Industry

Hydraulic Gear Pumps Market: Obtain detailed analysis on the hydraulic gear pumps market through FMI’s report covering competitive analysis, key regions, and segmental analysis for 2020 – 2030.

Urea Strippers Market: Get insights on the urea strippers market through FMI’s report covering detailed quantitative and qualitative analysis for projection period 2020 – 2030.

Domestic Booster Pumps Market: FMI’s exhaustive study on the global domestic booster pumps market covers the latest trends, innovations, key players, and popular strategies for the period 2020 – 2030.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post