The Global Farm Mechanization Market was worth USD xx billion in 2016 and is projected to grow at a CAGR of xx%, to reach USD xx billion by 2021. Farm Mechanization is the process in which agricultural machinery is used for farming purposes. The use of machinery in farming increases farm productivity while reducing the manual labor required. The machinery available in the current market includes harvesters, tractors, levelers and several farm implements. Large scale production is highly beneficial with the use of farming machinery rather than small scale farming.
By reducing labor requirements, efficient use of resources such as fertilizers, chemicals, water and seeds and by increasing the crop yield, usage of machinery results in increased profits. Usage of machinery in post-harvest process is very useful. By using primary processing technology, wastage of agricultural produce is minimized. Further development of low cost post-harvest technologies and scientific storage are trending in farm mechanization market.
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The economic benefits associated with the usage of machinery in farming, technological innovations and production of low cost machinery are the major factors driving the market. Introduction of machinery which uses alternate fuels and government investments in encouraging farmers to use farming machinery by giving incentives are also propelling the market growth. However, high initial cost of the machinery is hindering the market growth.
The Farm Mechanization market is categorized by product and region. Based on the product, the market is categorized into Combine Harvester, Tractor, Rice Transplanter, Power Tiller and Land leveler. Tractors hold the largest market share in the product segment. It is due to the evolved tractor technologies and due to the presence of several companies in the market which provide them. Harvesters also contribute significantly to the farm mechanization market due to the reduced wastage of agricultural produce using these compared to manual harvesting. Tillers and land levelers are increasing in market size due to the high market penetration.
On the basis of region, the global Farm Mechanization market is categorized into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America leads the farm mechanization market. It is due to the high adoption of large scale farming in this region and farming machinery was introduced long back in this region. Asia Pacific is the fastest growing market segment due to the presence of large agricultural area and the need to increase the yields due to the large population.
Some of the major players in Farm Mechanization market are John Deere, CNH Global, AGCO, Alamo Group, Kubota, International Harvester, TAFE, CLAAS and Mitsubishi.
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Some Point from Table of Content:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
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