Global Farm Mechanization Market was estimated to be 92.2 billion US dollars in 2020 and is foreseen to reach a valuation of 113 billion US dollars by 2025 at a CAGR of 4.2% during the conjecture period.

Recent developments:

In the month of July 2020, John Deere company unveiled CP18E, CP24E and CP30E cold planners which help operators who work on street repairs leveling uneven pavement, texturing pavement and cleaning around larger milling machines.

In June 2020, Massey Ferguson has launched new MF 4700 M series which includes new models from 82hp to 100hp with the option of a completely new Dyna-2, 24 x 24 powershift transmission.

During November 2019, Mahindra & Mahindra Ltd has showcased innovative precision farming solutions powered by advanced digital technologies for the first time at Agritechnica 2019.)

Market Drivers and Restrains:

Increasing investments for the technological advancements and rising government support with activities like farm loan waivers and credit finance are some of the factors driving the growth of the global Farm Mechanization market. However, high cost of the equipment, rapidly changing emission norms and mandates are some of the major restraints that are hampering the growth of the market for Farm Mechanization.

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Report is segmented as:

The Farm Mechanization market is segmented based on power output, drive type, equipment type, and function.

By drive type, the market is segmented into two types, namely two-wheel drive and four-wheel drive.

By equipment type, the market is segmented into tractors, combines and others.

By function, the Farm Mechanization market is segmented into sowing & planting, plowing & cultivating, plant protection & fertilizing, harvesting & threshing and other functions.

Geographical Segmentation:

The global Farm Mechanization market was dominated by Asia Pacific region owing to rising demand for high powered tractors and growing horticulture industry that helps the growth of the market in this area. North America holds the second largest share of the market due to the increase in investments by the companies for the new technological developments.

Impact of COVID-19 on Farm Mechanization Market

The coronavirus pandemic has affected the global Farm Mechanization market by forcing many companies to halt manufacturing and production operations which in turn resulted huge losses for them. As per the analysis, the Farm Mechanization market is expected to increase due to the growing horticulture industry and increasing support from the government.

Key market players:

Major players of Farm Mechanization market are CNH industrial (Netherlands), AGCO (US), John Deere (US), Mahindra & Mahindra (India), CLASS (Germany), and Kuboto (Japan).

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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