As the world braces itself for the expected population growth and increase in demand for food, long term growth in the market will be driven by increasing farm production capacities, which in turn will increase demand for planting & fertilizing equipment. Other factors poised to benefit the market in the coming years include improving farm income, credit availability, and scarcity of farm labor. Urbanization represents a key factor responsible for consolidation of farms into larger farming plots, which is expected to generate demand for larger machinery. With shortages in farm labor supply, bigger equipment assumes mission critical importance in effectively managing large scale farm activities. In the coming years, developed countries are expected to witness increased demand for high capacity sprayers of over 1200 gallons.
As stated by the new market research report on Planting and Fertilizing Machinery, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 8.7% over the analysis period. There exists ample scope for expansion of land for agriculture in the developing and under-developed nations. Increase in arable land and mounting pressure on the agriculture sector to raise productivity levels to feed the expanding population represent the most important growth driver in the region. Other factors favoring growth include relatively lower levels of mechanization, use of inefficient farm equipment, and shrinkage in rural agricultural labor force with large sections of the rural population migrating to urban parts. Agriculturists are compelled to invest in machinery for planting and fertilizing and other farming jobs that were earlier carried out manually.
Key players covered in the report include AGCO Corp, Buhler Industries Inc., CNH Industrial N.V., Deere & Company, Great Plains Ag, Iseki & Co., Ltd., Kasco Manufacturing, Kubota Corp., Kverneland Group, and Kuhn Group, among others.
The research report titled “Planting and Fertilizing Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, current trends, growth drivers, new product introductions, and recent industry activity of major market players. The report provides market estimates and projections for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America).