A large population directly or indirectly depends on agriculture. It affects the food security and the economic growth of India. With the help of Precision Farming, the agriculture process can easily monitor or observe crop growth based on collected information (soil condition and weather information) from a crop field.
The Deep-processing of agriculture products is an essential step in advancing agricultural industrialization. With the development of social-economic, urban residents are used to fasting rhythm. The follow-up processed goods of agriculture products are growing demand, such as washed vegetables, cutting products, convenience foods. In those products, there are multiple scales of products which are cored of cutting processing technology or based on their application. Thus, researching the cutting processing technology of the original planting products and their equipment is the foundation of the deep-processing of agriculture products. It is highly significant to industrialize the agriculture equipment industry for various agricultural products.
Increasing demand for food products
There is no doubt that the significant factors maintaining human existence and sustaining life on earth are food and water. While agriculture produces the vast majority of food, it faces many challenges, such as climate change, water shortages, labor shortages. It is due to the aging urbanized population, and increased societal concern about issues such as animal welfare, food safety, and environmental impact. These are the major driving factor for the global farming equipment.
Global Farming Equipment Market Segmentation
By Product Type
Based on product type, the global Farming Equipment the market is segmented into Agriculture tractors, Harvesters, Soil preparation & cultivation equipment, Irrigation & crop processing equipment, Agriculture spraying equipment, hay & forage equipment, and Other Agriculture Equipment. Humans depend on agriculture and water for survival, so optimal, profitable, and sustainable use of our land and water resources is critical. At the same time, urbanization, developments of the industry, and overrun of fertilizer and pesticides also bring the heavy river pollution. So to produce foods efficiently, different agricultural equipment is required, these factors are expected to propel the market growth.
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Based on the region, the global Farming Equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Strong economic growth in developing nations like China, India, and Middle Eastern countries is predicted to drive the farm machinery industry during the forecast period. The Asia Pacific is expected to emerge as the largest market and observe the fastest growth over the projected period. Regional development can be ascribed to the enormous population and massive demand for food products along with the broad area of agricultural land. Nevertheless, the mechanization of various agricultural processes is emerging progressively in the Asia Pacific region, which is estimated to propel the demand for agricultural machinery over the forecast period.
The major players in the global farming equipment are Deere & Company, AGCO Corporation, CNH Industrial N.V., Agro Tractors S.p.A., SDF Group, The Toro Company, Kubota Corporation, CLAAS KGaA mbH, Mahindra & Mahindra Ltd. and Escorts Ltd., and other prominent players.
Ø March 2020: FPT Industrial, the global powertrain brand of CNH Industrial N.V. announced that it had acquired Potenza Technology, a company specialized in the design and development of electric and hybrid powertrain systems. This acquisition represents another step in FPT Industrial’s path towards electrification, one of the pillars of its multi-power strategy.
Ø February 2019: John Deere introduces a new 1745 Planter with narrow-transport capability. New planter is compatible with older tractors, ideal for small fields, no-till, and transport on narrow roads.
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