Farm Machinery And Equipment Market Growth Is Being Shaped By Technological Advancements
June 23, 2022
The Business Research Company’s Farm Machinery And Equipment Market 2022 - Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, June 23, 2022 /EINPresswire.com/ -- Technological advances in agricultural equipment will drive the market for farm machinery and equipment going forward. Developments in new sensor technologies and growing access to the latest information technologies are contributing to development in agricultural machinery across the globe. New farm machinery and equipment are using features, such as global positioning system (GPS), measuring sensors, and digital monitoring systems to assist farming activities and increase productivity. They also have the potential to deliver a more sustainable and productive output based on on-field data. Many of the new developments in agricultural equipment are focused on reducing human interaction and increasing productivity of the farm. According to the farm machinery and equipment market forecast, technological advances will positively impact the market in the forecast period.
Increasing adoption of new techniques and technologies in the farming sector has given a boost to use and thus sales of autonomous farm equipment. According to the farm machinery and equipment market analysis, equipment requiring less human labor frees up workforce for more manual tasks and addresses pressures with labor shortages and also improves efficiency and productivity. For example, sensors situated in different parts of equipment are linked to a central command and control station, allowing a single operator to simultaneously manage at any one time multiple manned or unmanned farm machines. In June 2020, Sberbank and Cognitive Technologies Group’s joint venture company, Cognitive Pilot, introduced a pilot project to install the Cognitive Agro Pilot software and hardware in 242 combine harvesters used by Rusagro Group LLC.
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The global farm machinery and equipment market size is expected to grow from $207.80 billion in 2020 to $291.40 billion in 2025 at a rate of 7.0%. The global farm machinery and equipment market share is then expected to grow at a CAGR of 5.6% from 2025 and reach $381.90 billion in 2030.
Major players covered in the global farm machinery and equipment industry are Deere & Company, CNH Industrial N.V., AGCO Corporation, Kubota Corporation, CLAAS KGaA mbH.
TBRC’s farm machinery and equipment market report is segmented by type into tractors, harvester, livestock equipment, chisel plow, field sprayer and spreader, roller, others, by application into spraying, water supply and conservation, cultivation, harvesting, seeding, weeding, livestock farming, others, by capacity into small, medium, large, by operation into manual, semi-autonomous, autonomous.
Farm Machinery And Equipment Market 2022 – By Type (Tractors, Harvester, Livestock Equipment, Chisel Plow, Field Sprayer And Spreader, Roller, Others), By Application (Spraying, Water Supply And Conservation, Cultivation, Harvesting, Seeding, Weeding, Livestock Farming, Others), By Capacity (Small, Medium, Large), By Operation (Manual, Semi-Autonomous, Autonomous), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides a farm machinery and equipment market overview, forecast farm machinery and equipment market size and growth for the whole market, farm machinery and equipment market segments, geographies, farm machinery and equipment market trends, farm machinery and equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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