Agricultural or farm machineries are mechanical equipment used in farming of agricultural land. Agricultural machinery typically covers various tools used in the process of land development, soil tillage, sowing & planting/transplanting, weeding, plant protection, irrigation, harvesting & threshing and post- harvest & agro processing. Based on product types, global agricultural market is classified into tractor, combine harvester, thrasher, rotavator, reaper, driller, planter, tiller, leveller, transplanter, sprayer and weeder & irrigation systems.
Introduction of novel technology, rise in research & development investments and increasing financial aids & subsidies by governments are propelling the industry. Some factors like rising fuel prices and insufficient funds available with farmers to replace conventional farming tools may hinder overall market growth.
Increasing demand for agriculture products due to rising population is exerting pressure on agriculture sector globally. Many developing countries are now adopting foreign direct investments (FDIs) to support the development of agriculture and allied industries. FDI coupled with government support for mechanization of agriculture sector is expected to further augment the demand of agricultural machinery in the coming years.
Presently, the industry is witnessing increased adoption of platform designs that enable sharing of product technologies and architecture across multiple segments. Adoption of these designs has benefitted original equipment manufacturers (OEMs) by simplification of supplier & component management and faster time to market. In addition, agriculture machinery manufacturers are adopting precision farming techniques, which can help in reducing cost and increase yield. Emerging precision farming techniques used by the manufacturers include smart/intelligent production technologies like in- vehicle global positioning system (GPS), variable-rate technology (VRT), etc. VRT-enabled farming equipment helps farmers to attain balance between agriculture input and yield costs by varying fertilizers or seeds quantity while farming.
In addition, preference for agricultural equipment running on sustainable fuels such as biofuels is increasing due to rising global environmental concerns.
ASDReport.com has a good collection of reports on agricultural machinery market. The reports offer market insights on various topics and products related to agriculture machinery like, mowers, garden & farm/agricultural tractor, agricultural robot, forestry equipment, utility tractor, strew baler, bale hugger, and much more.