Agriculture Equipment Market Share Overview:
Agriculture equipment market share refers to the proportion of total market sales or revenue held by each company within the agriculture equipment industry. It is a critical metric used to assess the competitive landscape and market dominance of key players such as John Deere, AGCO Corporation, and CNH Industrial. Factors influencing market share include product quality, brand reputation, distribution network, pricing strategy, and customer satisfaction. Companies strive to increase their market share through strategic initiatives such as product differentiation, mergers and acquisitions, and expansion into new markets.
The Agriculture Equipment Market Share is evolving with a growing demand for modern farming machinery to improve productivity. Factors driving this market include government initiatives, increased mechanization, and the adoption of precision farming technologies. Key equipment includes tractors, plows, and irrigation systems, with major players like John Deere, Massey Ferguson, and New Holland providing durable solutions suited to local conditions and crop types.
Data from these machines, sensors and devices have the potential of transforming agriculture by assisting farmers in their day-to-day operations. Moreover, falling overall costs of this equipment, with an even sharper drop in the cost of sensors and cloud computing, escalates market growth. The market is expected to perceive brisk growth in the years to come.
Agriculture Equipment Market Share Segments
The report is segmented into product type, function, sales channel, and regions. The product type segment is sub-segmented into tractor, harvester, cultivation & soil separation equipment, and others. Among these, the tractor segment accounts for the largest segment due to the growing demand for autonomous tractors and low-weight tractors for various cash-rich plants such as grapes and strawberries.
The segment is estimated to grow further at a substantial rate during the forecast period. The function segment is sub-segmented into harvesting, planting & fertilizing, haying, plowing & cultivation, and others. Among these, the plowing & cultivation segment holds the largest segment due to the growing need to enhance productivity by improving soil fertility and maintaining soil nutrients.
The Agriculture Equipment Market Share is characterized by technological advancements and the adoption of precision farming techniques. Key drivers include the demand for high-efficiency machinery, government subsidies, and the need to enhance crop productivity. Major players include John Deere, AGCO Corporation, and CNH Industrial, offering advanced tractors, harvesters, and irrigation systems.
The sales channel segment is sub-segmented into OEM and aftermarket. Of these, the aftermarket segment accounts for the largest market share due to the increasing number of agricultural equipment aftermarket centers in emerging countries such as China, India, Brazil, and Argentina, with a large agricultural base.
The region is projected to register a phenomenal growth rate over the forecast period. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Agriculture Equipment Market Share Regional Analysis
The Asia Pacific region dominates the Agriculture Equipment Market Share . The market growth attributes to the rising food demand due to increasing population and growing exports in China and India.
Moreover, increased government support and incentives on farming equipment, farming loans, and lack of farm laborers contribute to the Agriculture Equipment Market Share growth in this region. The emergence of contract farming in India and growing sales of tractors boost the region’s Agriculture Equipment Market Share size.
North America holds the second significant share in the Agriculture Equipment Market Share . Factors such as high disposable income and vast investments in agriculture projects positively impact the regional market growth. Additionally, investments in farming technologies in the US and Canada boost the region’s Agriculture Equipment Market Share size.
Europe too holds a considerable share in the Agriculture Equipment Market. The market is largely driven by regulatory laws implemented to increase crop yields. Furthermore, green zone projects in countries like the UK and France create substantial market demand. Favorable incentives to purchase various agriculture vehicles and equipment foster the growth of the regional market significantly.
Agriculture Equipment Market Share Competitive Analysis
The Agriculture Equipment Market Share appears to be fiercely competitive and fragmented, with many well-established players having a global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Major Players
Players leading the Agriculture Equipment Market Share include JC Bamford Excavators Limited (UK), AGCO Corp. (US), Deere & Company (US), Kubota Corporation (Japan), CNH Industrial NV (UK), Daedong Industrial Co., Ltd (US), CLAAS KGaA mbH (Germany), Iseki & Co., Ltd (Japan), Escorts Limited (India), and Mahindra & Mahindra Limited (India), among others.
Industry/ Innovation/ Related News
April 22, 2021 – Hoosier Ag Today (HAT - the US), a leading media organization exclusively dedicated to covering Indiana agriculture, announced that it is increasingly collaborating with several Indiana state agencies on farm equipment safety videos.
To keep motorists and farmers safe this planting season, several state agencies have partnered together to encourage Hoosiers to be alert, slow down, and share the road with farm equipment. The collaboration would enable HAT to produce public service announcements urging motorists to be aware of farm equipment on the road.
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