As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The Asia Pacific region holds a significant share in the global market for agricultural equipment owing to the dependency of major developing countries on the agricultural sector. Countries like India and China are considered to be agrarian countries responsible for the mass production of wheat and rice, which are robustly exported to leading economies of the world. Hence, the deployment of agricultural equipment to enhance production, reduce costs, and manual labour are positively influencing the market growth in the region. Additionally, due to the depleting arable lands as a result of massive urbanisation and industrialisation, agricultural equipment is increasingly being deployed to restore land fertility, maintain pH levels of the soil, and lock nutrients in the soil. This is driving the market growth of the product. Furthermore, favourable government measures, such as ‘Make in India’, are encouraging market players to adopt cutting-edge technologies, thus generating robust growth opportunities, thereby invigorating the market growth in the region.
The healthy competition among the key players like Mahindra and Mahindra Ltd. (NSE: M&M) and XAG Co. Ltd is aiding the market growth. The latter company, XAG Co. Ltd, has recently launched a new series of smart agri tech in December 2020, introducing more in-depth digital unmanned solutions to make farming easier and more sustainable. The new products include three models of XAG Agricultural Drone and two editions of R150 Unmanned Ground Vehicle. These innovations are aimed at providing more flexible and efficient unmanned operations, and are equipped with the Super X4 Intelligent Control Systems, allowing the drone to conduct autonomous mapping, precision spraying, and intelligent broadcast on complex terrains. The technology allows users remote control via smartphones and substantially lowers manual labour, making farming much easier. Hence, such innovations by key market players are contributing to the market growth of agricultural equipment.
Market Analysis by Product, Applications, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global agricultural equipment market are Deere & Company, CNH Industrial N.V., AGCO Corporation, Mahindra & Mahindra Ltd., Kubota Corporation, and ISEKI & CO., LTD., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.