#Europe Electric Farm Tractor Market Forecast

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Europe Electric Farm Tractor Market Analysis I BIS Research

According to BIS Research, the Europe Electric Farm Tractor Market (excluding U.K.) was valued at $32.94 million in 2023 and is expected to reach $63.20 million by 2028, growing at a CAGR of 13.92% between 2023 and 2028.

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Future Market Insights (FMI), an ESOMAR-certified consulting firm, projects that the global agricultural equipment market will grow at a CAGR of 4.2% between 2023 and 2033, reaching a market volume of about US$ 171.4 Million by the end of that year.

Approximately 58% of India’s population relies mostly on agriculture for their livelihood. The Indian government has introduced a number of programmes to handle the growing food demand and encourage the use of modern farm equipment. Rastriya Krishi Vikas Yojana (RKVY), for instance, was established to offer 100% subsidy. The programme was designed to aid in the development of the agricultural industry.

ESOMAR-certified consulting firm Future Market Insights (FMI) in its latest report forecasts that the global agricultural equipment market will register a CAGR of 4.2% between 2023 and 2033, reaching a market volume of around US$ 171.4 Million by 2033 end.

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Agriculture is the primary source of livelihood for about 58% of India’s population. In order to address the rising food demand and promote use of advanced farm machinery, government of India has introduced various schemes. For instance, Rastriya Krishi Vikas Yojana (RKVY) was introduced to provide 100% subsidy. The scheme was aimed to assist the advancement of the farming sector.

The agriculture industry is under constant pressure to address the food security issue. Farmers across the world are employing various equipment to increase food production. These machines minimize the manual labor and reduce turnaround time.

Growing popularity of precision farming is augmenting the demand for modern agricultural equipment. With the integration of artificial intelligence (AI) and internet of things (IoT), the sales of agriculture equipment are soaring. Smart farming is gaining traction. Introduction of electric agricultural equipment has completely changed the market scenario. These equipment does not only minimize the emissions but also reduce costs and improve efficiency.

New trends of agricultural robotics and driverless machines are attracting large number of farmers to upgrade their equipment systems. As per FMI, the agricultural equipment market will surpass a valuation of US 65 Billion by 2021 end.

Key Takeaways from FMI’s Agricultural Equipment Market Study

Europe dominates the ground support equipment market as a result of increasing agricultural mechanization and presence of leading manufacturers. The market in the region is set to register steady growth at 4.8% CAGR between 2022 and 2032.

The U.S. is expected to register a strong CAGR during the forecast period as a result of rapid technological advancements and availability of equipment leasing.

With implementation of favorable governmental policies, China is anticipated to emerge as the leading market for agricultural equipment.

Top 5 players operating in agricultural equipment market collectively account for 44% market share.

By product type, tractors dominate the agricultural equipment market with their multipurpose nature.

Competitive Landscape

Key players operating in agricultural equipment market are investing heavily on research and development activities. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market. For instance.

In August 2021, Precision Planting, LLC a subsidiary of AGCO Corporation announced an agreement to acquire the business and assets of Headsight, Inc., a leading precision agriculture harvesting solution company. The acquisition will help the company to offer farmers a range of industry-leading precision ag technologies across the crop cycle that will help them to maximize their value and output while minimizing inputs and impact.

In 2021, XAG Co., Ltd. Launched XAG R150, a jet sprayer system to pollinate fruit trees. A specially mixed solution of pollen is poured into the R150’s liquid tank before it is sent on a predetermined route around an orchard to spray pollen.

Key Segments Covered in the Agricultural Equipment Industry Analysis

Agricultural Equipment Market by Product Type:

Tractors

Rotavators

Wheel Type

Crawler Type

Threshers & Dehuskers

Wheel Type

Crawler Type

Power Tillers

Wheel Type

Crawler Type

Power Weeder

Wheel Type

Crawler Type

Plough

Baler

Seed Drill

Agricultural Equipment Market by Category:

Tractor Pulled / Attachment

Self-Propelled

Agricultural Equipment Market by Ownership:

Individual

Rental

Agricultural Equipment Market by Region:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle East & Africa

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Europe Electric Farm Tractor Market Growth, Industry Trends, Forecast 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe electric farm tractor market size at USD 36.86 million in 2022. During the forecast period between 2023 and 2029, Europe electric farm tractor market size is to grow at a robust CAGR of 10.60% reaching a value of USD 66.84 million by 2029. Significant developments have emerged in the market for electric farm tractors in Europe in recent years. The adoption of electric farm tractors has been sparked by the increased emphasis on sustainable agricultural methods and the pressing need to minimize carbon emissions. Governments and agricultural organizations are promoting the use of electric tractors through incentives and subsidies, which is helping to expand the industry. The development of charging infrastructure and greater battery efficiency are two examples of technological developments that have significantly contributed to the market's expansion. Also, it is anticipated that the market for electric farm tractors in Europe will change as a result of the growing need for precision farming methods and the incorporation of innovative technologies like autonomous operation and data analytics in electric tractors.

Europe Electric Farm Tractor Market – Overview

The electric farm tractor is an innovative agricultural vehicle powered by electricity, designed to replace traditional diesel-powered tractors. It utilizes electric motors and advanced battery technology to provide clean and efficient operation. These tractors offer several advantages over their conventional counterparts, including reduced greenhouse gas emissions, lower operating costs, and quieter operation. They can be charged using renewable energy sources, further enhancing their environmental benefits. Electric farm tractors are equipped with the necessary capabilities to perform a wide range of farming tasks, such as plowing, tilling, planting, and harvesting. Their introduction represents a significant step towards sustainable and eco-friendly agriculture.

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Impact of COVID-19 on Europe Electric Farm Tractor Market

The COVID-19 pandemic significantly impacted the Europe electric farm tractor market, causing disruptions and hindering its growth trajectory. The stringent lockdown measures and supply chain disruptions during the pandemic severely affected manufacturing activities, leading to delays in the production and distribution of electric farm tractors across the region. The economic downturn and uncertainties surrounding the pandemic also dampened the demand for agricultural machinery, including electric farm tractors, as farmers faced financial constraints and postponed investments. Despite the long-term potential of electric farm tractors in reducing emissions and enhancing sustainability, the pandemic-induced challenges have slowed down their adoption, presenting a setback to the market's progress in Europe.

Europe Electric Farm Tractor Market – By Type

On the basis of type, Europe electric farm tractor market is segmented into Light & Medium-duty Tractor and Heavy-duty Tractor. The light & medium-duty tractor type is a larger segment, due to its broader range of applications and suitability for various agricultural tasks. These tractors are generally used for smaller farms, orchards, and vineyards, where their maneuverability and versatility are advantageous. On the other hand, heavy-duty tractors are typically employed in larger-scale farming operations and may have a narrower market share in comparison.

Competitive Landscape

Europe Electric farm tractor market is fiercely competitive. Major companies in the market include AGCO, Case IH, New Holland Agriculture, John Deere, Kubota, Carraro, Arbos, Antonio Carraro, Deutz-Fahr, and Valtra. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Europe Electric Farm Tractor Market.

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Understanding the Growth of the Tiller Machines Market from 2022-2032

The global tiller machines market is estimated to reach a value of USD 2.467 billion in 2022 and is projected to grow at a CAGR of 6.59% during the forecast period of 2022-2032 to reach a value of USD 3.777 billion by 2032. The growth in the global tiller machines market is driven by factors such as the growing population of farmers, the expansion of the farming industry, and the advancement of mechanization in the agricultural sector.

Due to the growth in the population, the demand for food has increased significantly, which has caused the demand for agricultural output to rise significantly. Thus, farmers are adopting efficient farming practices, which include the deployment of tiller machines. Tiller machines are highly efficient in shredding and tilling the fields, thus improving the productiveness of the soil. Furthermore, the advanced technology coupled with the automation of these machines have increased its demand.

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Key Companies Profiled

Bucher Industries AG

AGCO Corporation

Kubota Corporation

Claas KGaA mbH

Sharp Garuda Farm Equipments Pvt. Ltd

CNH Industrial NV

Mahindra & Mahindra Ltd

Deere & Company

Eurometal MIO

Competitive Landscape

Key players in the tiller machines market use methods such as product releases, mergers and acquisitions, collaborations, and alliances to maintain their position in the worldwide market. Moreover, these players are concentrating on making items more lightweight, compact, and user-friendly.

Kirloskar Oil Engines Limited (KOEL) introduced a new tiller machine with K-Cool technology engines in June 2022. The self-start engines of the 12 HP and 15 HP tiller machines enable uninterrupted operation.

VST Tillers Tractors Limited (VST) launched its first cutting-edge Experience Centre in Pune, India, in June 2022. The experience center will feature tiller machines, tractors, rotary tillers, power weeders, brush cutters, rice transplanters, power reapers, hedge trimmers, and accessories, allowing consumers to get hands-on experience with VST’s advanced farm equipment.

Key Segments of Tiller Machines Industry Research

By Product Type :

Front Tine

Rear Tine

Mini-Cultivators

By Tilling Width :

9 Inches

14 Inches

15 Inches

16 to 36 Inches

By Power Capacity :

Under 25 HP

25 to 40 HP

40 to 60 HP

60 to 80 HP

By Mechanism Type :

Hydraulic

Electric

By Region :

North America

Latin America

Europe

APAC

MEA

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Queries addressed in the Tiller machines market report:

Why are the Tiller machines market players targeting region for increased product sales?

What patented technologies are the players utilizing in the global Tiller machines market?

Which regions are displaying the fastest growth in the Tiller machines market?

What are the underlying micro- macroeconomic factors affecting the global Tiller machines market?

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Drive By Wire Market Projected to reach $27.9 billion by 2027

The automotive drive by wire market is projected to reach USD 27.9 billion by 2027 from an estimated USD 20.6  billion in 2022 at a CAGR of 6.2% during the forecast period, driven by developments in the automotive drive by wire sector and growing EV sales and increasing autonomous vehicle developments. For instance, in July 2022, CNH industrial-backed Monarch tractors unveiled its first fully electric farm tractor which came equipped with Drive by Wire capabilities.

By vehicle type, the passenger car segment is estimated to be the largest market for the automotive drive by wire market owing to the largest production volume globally and growing demand and adoption for SUVs and premium and luxury cars, and Electric Vehicles. This trend is growing popular as the drive by wire systems reduce the overall weight and complexity of the system by removing mechanical systems, thereby reducing the overall maintenance cost. Factors such as improved performance, safety, and reliability, along with the reduction in manufacturing and operating costs for automotive manufacturers, are contributing to the growth of drive by wire technology in the passenger car market. Most governments in the world are strengthening emission regulations, and drive by wire system offers enhanced fuel efficiency and reduced carbon emissions. And thus, the drive by wire system has emerged as a viable alternative to conventional mechanical automotive systems that can reduce weight as well as optimize the vehicle's mechanism to reduce emissions. The drive by wire currently finds its usage in most of the mid-size, SUV, and luxury car segments. The luxury car segment includes brands like Audi, BMW, Land Rover, Mercedes-Benz, and Jaguar. These vehicles have a higher price as they are equipped with advanced safety and comfort features. The electronic systems used in luxury vehicles enhance performance and comfort. Thus, passenger cars are expected to have a significant share in the drive by wire market in the forecast period.

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Steer by wire is expected to see the fastest growth in the given forecast period. Less moving mechanical parts help reduce demand and costs for fuel. Research shows that electrohydraulic steering technology was able to reduce fuel consumption by nearly 15%, as well as improve overall fuel efficiency by 43.5%. In addition to better operating adaptation capabilities, the removal of a steering shaft entirely can reduce the risk of operator injury.

Regions like  North America and Europe are early adopters of drive by wire systems for vehicles to enhance the safety, efficiency standards, and integrity of ride. Even though the adoption of drive by wire is expected to grow in  North America and Europe, Asia Pacific is expected to have the largest market share due to increasing sales of SUVs, feature-rich cars, and EVs. However, these systems will be more concentrated in more premium vehicles, as far  as the case for IC engines. However, EVs will see a major adoption  of these systems given the need for light weighting in order to increase the overall efficiency and range of batteries of the vehicles. This is attributed to the reason that DBW systems have fewer parts compared to mechanical systems, that overall reduces the weight and simplifies the design of the system.

Asia-Pacific is estimated to be the largest-growing market due presence of major automobile manufacturers in China, India, Japan, and South Korea. The Asia Pacific market is witnessing major shifts in terms of vehicle preference. The major automobile markets i.e., India and China, are witnessing increasing preference for SUVs, EVs, and Autonomous and Luxury vehicles. This shift is expected to be due to rising incomes and living standards in these countries. Also, major manufacturers in these nations are heavily investing in developing new technologies in their respective domains as there is an overall healthy demand for such vehicles in the Asia-Pacific market.

Thus, safety standards, an increasing share of the premium and luxury cars and SUVs, coupled with the growing adoption of EVs, and thereby, the need to reduce their weight and simplify their overall system architecture is expected to drive the automotive drive by wire market globally.

Key Market Players:

The drive-by-wire market is dominated by a few global players and comprises several regional players. Some of the key manufacturers and suppliers of the drive-by-wire market are Bosch (Germany), Continental (Germany), ZF (Germany), Infineon (Germany), Nexteer (US), CTS (US), Ficosa (Spain), Kongsberg (Switzerland), Hitachi Automotive (Japan), and Curtiss-Wright (US).

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Electric Farm Tractor Market Analysis, Insight, Forecast 2022-2028

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Global Electric Farm Tractor Market size to grow at a CAGR of 23% during the forecast period between 2022 and 2028, reaching a value of USD 532.9 million by 2028. Major growth drivers for global electric farm tractor market are strict government regulations to reduce pollution and high fossil fuel prices. Demand for electric farm tractors is increasing due to reduced power consumption and maintenance costs, combined with the capacity to transport heavier loads. Growing environmental concerns have prompted farmers to employ emission-free and environmentally friendly farming practices. Increasing electric farm tractor sales are projected to drive the global electric farm tractor market during the forecast period. However, the increase in rental market due to latest edge technologies and higher efficiency is anticipated to hamper the market growth during the period in analysis.

Global Electric Farm Tractor Market – Overview

Electric farm tractors consist electric motor that works on batteries to generate power and have minimal mechanical parts. The global electric farm tractor market is driven by growing focus on clean and sustainable agriculture. Furthermore, the increase in precise farming enables farmers to enhance operational efficiency to bridge the gap between agricultural products availability and consumers willing to purchase. Precision farming is a combination of strategies and tools that enable farmers to optimize and raise soil quality and productivity by implementing a set of targeted effective initiatives owing to latest edge technologies. In addition, precision farming technology makes better use of resources, such as water, seeds, land, fertilizers, and agricultural equipment. As a result, both the quality and quantity of harvested crops increase.

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Global Electric Farm Tractor Market – Regional Analysis

Geographically, global electric farm tractor market is segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. The APAC region holds the highest market share in global market for electric farm tractors due to a spurring high demand for electric tractors in China and India. The agriculture sector is a critical component of India's economy. As a result, tractors are required to complete large-scale tasks. There is a considerable increase in demand for electric farm tractors in the region, which is being done to increase the field's total production.

Impact of COVID-19 on Global Electric Farm Tractor Market

COVID-19 pandemic adversely affected the supply chain for most of sectors around the world, including the electric farm tractor industry. Farmers' agricultural output was impaired by the COVID-19 pandemic, resulting in a decrease in revenue creation. As a result, farmers were unable to purchase advanced agricultural equipment. Furthermore, the imposition of a lockdown, travel restrictions, and the shutdown of industrial units has disrupted the whole supply chain, including farm equipment components procurement. As a result, new tractor production and sales fell, inhibiting worldwide electric farm tractor market growth. However, the market could grow rapidly following the easing of COVID-19-related restrictions worldwide.

Competitive Landscape

Major players operating in global electric farm tractor market include AGCO Corporation, Deere and Company, Kubota Corporation, Escorts Limited, Mahindra and Mahindra, Dongfend, SOLECTRAC, J.C. Bamford Excavators Ltd. (JCB), Alke, Cummins Inc., Fendt, Kubota Corporation, Motivo Engineering, Sonalika, Monarch Tractor, Yanmar Holdings Co., Ltd., AutoNxt Automation Pvt. Ltd., Cellestial, Ztractor, and EcoFactor. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product development.

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Autonomous And Semi-autonomous Tractors Market - Forecast(2022 - 2027)

Autonomous and Semi-autonomous Tractors Market Overview

Autonomous and Semi-autonomous Tractors market is estimated to witness $4.5 billion by 2026 with a CAGR of 26.2% during the forecast period 2021-2026. Autonomous and semi-autonomous tractors include crop yield monitoring systems that monitor the crop and field and assist the owner in managing the field based on soil properties. Semi-autonomous tractors reduce human effort by assisting the driver in certain actions, whereas autonomous tractors are completely driverless tractors that replace the driver with a variety of software and hardware components. Moreover, the rising population in developing countries such as China, India and others are increasing the demand for agricultural products thereby raising the demand for driverless farming machine to harvest the agriculture produce, irrigate and perform many other functions by using GPS systems. In 2021, CNH Industrial has announced an investment in Monarch Tractor, a U.S.-based agriculture technology company, with the goal of developing an electric tractor platform that combines a fully electric powertrain with autonomous technologies to aid in the advancement of farming operations. This kind of development set to propel the market growth. Driverless farming machines are estimated to witness substantial growth with a CAGR of 27.10% over the forecasted period 2021-2026 owing to its advanced technologies such as machine vision systems, GPS, auto-steering and others.

Report Coverage

The report: “Autonomous and Semi-autonomous Tractors market Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Autonomous and Semi-autonomous Tractors market.

By Type– Semi autonomous tractors, autonomous tractors. By Application- Seed sowing, harvesting, irrigation, Tillage and others. By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina, Colombia and others), Europe (Germany, UK, France, Spain, Italy and Others), APAC(China, Japan, South Korea, India, Australia and Others), and RoW (Middle East and Africa)

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Key Takeaways Increased demand for power steering in passenger vehicles as well as in commercial vehicle is driving the Automotive Electric Oil Pump industry demand Driverless farming machine are estimated to witness substantial growth with a CAGR of 27.10% over the forecasted period 20201-2026 owing to its advanced technologies such as machine vision systems, GPS and others Asia-Pacific regions are witnessing the fastest-growing rate in the markets Autonomous and Semi-autonomous Tractors owing to high demand of agricultural produced.

Autonomous and Semi-autonomous Tractors market Segment Analysis- By Type

The driverless farming machine are estimated to witness substantial growth with a CAGR of 27.10% over the forecasted period 20201-2026 owing to its advanced technologies such as machine vision systems, GPS to perform agriculture tasks such as tillage and others. Moreover, it determines the speed and avoids obstacles such as animals, people, or objects in the field, and as a result of these factors, the demand for Autonomous and Semi-autonomous Tractors is surging in the market. Due to rising urbanisation there has been a decrease in agricultural labour in the field and thus due to such factor, farmers are increasingly adopting agricultural mechanization (i.e., Tractors) as a substitute for manual labour with more cost-effective, easily available, and more efficient means of agricultural operation. As tractors are the primary source of power for driving agricultural machinery and hence autonomous and semi-autonomous tractors are estimated to propel in the market.

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Autonomous and Semi-autonomous Tractors market Segment Analysis - By Application

Harvesting segment is estimated to witness substantial growth with a CAGR of 27.1% over the forecasted period owing to rise in demand to cover more acres of land in less time which was not possible without these customised tractors which enable the user to attain faster and more cost efficient harvesting. Kubota, Escorts, CNH Industrial, John Deere are the major market players providing advanced autonomous tractors and boosting the demand. For instance John Deere in 2021 has introduced its new 9R Series tractor range and offers a full activation package for maximum automation which includes Turn Automation, Section Control, Variable Rate Control, Passive Implement Guidance, In-Field Data Sharing, Machine Sync and also new Auto Path row guidance. Autonomous and Semi-autonomous Tractors increase the productivity in the field through effective harvesting process, and also improve safety, and reduce costs for many agricultural operations, due to such factors there has been an increase in adoption of these tractors for harvesting.

Autonomous and Semi-autonomous Tractors market Segment Analysis – By Geography

North America held largest share 32.1% in 2020 owing to its high rate of adoption of advanced technology and the presence of large tractor manufacturers that are investing in the development of autonomous tractors. Availability of large fields, limited labour availability, and massive grasslands in North America regions and high per capita income are major factors driving the autonomous and semi-autonomous tractors market. The companies such as Kubota, John Deere, Escorts located in these regions are increasingly launching new autonomous tractors, dominating the market with faster innovations and product launches. In 2021 John Deere has acquired U.S. autonomous tractor start up Bear Flag Robotics for $250m to make its agricultural equipment autonomous. Asia-Pacific regions are witnessing the fastest-growing rate in the markets Autonomous and Semi-autonomous Tractors owing to high demand of agricultural produced. Asia Pacific, is expected to expand its adoption for semi-autonomous tractors at a rapid pace in countries such as China and India, owing to their lower cost as compared to the fully driverless tractors.

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Autonomous and Semi-autonomous Tractors market Drivers

Rising technological advancement

The increased technological advancement in self-driving technology for vehicles with object detection capabilities using radar, multi-camera systems, and LiDAR technology, among other things, is projected to increase the adoption of automated tractors. Farmers are adopting technologies such as autonomous tractors that can be productive in light of the current challenge, as technologically assisted agriculture requires skilled labourers who are in short supply. This scenario is one of the primary factors driving the market forward. Moreover, automation in tractor has become a strong trend, hastening the expansion of precision farming operations. Farmers now have access to cutting-edge technologies in autonomous as well as semi-autonomous tractors as GPS, sensors, laser diodes, and other for automating their work, which is propelling the market for autonomous and semi-autonomous tractors. In 2021 John Deere has redesigned its most popular 2430C Nutrient Applicator to provide greater precision and control of nutrient placement at high operating speeds. This new 2430C Nutrient Applicator is a rugged, highly productive tool for service providers and farmers to accurately apply anhydrous ammonia across more acres more quickly while minimizing outgassing, thus these advancements is estimated to propel the market demand.

High Productivity and accuracy

Autonomous tractors make use of cutting-edge technology, such as overlapping and redundant sensor arrays. These can aid in the detection of any irregularities in the field during operation and are critical to overall farm productivity. Lidar enables the user to determine ranges by targeting an object with a laser and measuring the time for the reflected light to return to the receiver through this the user can attain to it productivity by targeting the area. Moreover, Labour shortages, safety issues, and climate change are one of the major obstacles for obtaining productivity thus farmers are increasing the adoption of driverless tractors to future-proof the agricultural business. Thus, such factors are driving the Autonomous and Semi-autonomous Tractors industry.

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Autonomous and Semi-autonomous Tractors market Challenges

High cost and lack of awareness

Lack of knowledge and technology integration in the developing countries is likely to hinder the development of the Autonomous and Semi-autonomous Tractors market. As the end users of these automated tractors are mostly farmers and sometimes, they find it difficult to keep up with the latest trends and technologies that directly affect the adoption of such advanced tractors. Moreover, high cost of investments in such advanced autonomous tractors is also hindering the Autonomous and Semi-autonomous Tractors market size.

Autonomous and Semi-autonomous Tractors Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solar Cell Fabric market. Automotive Electric Oil Pump industry top 10 companies – Mahindra and Mahindra, Kubota, Dutch Power Company, John Deere, Escorts, CNH Industrial, Komatsu, Raven Industries, Sonalika International, Massey Ferguson.

Acquisitions/Technology Launches

In 2020, Kubota announced a collaboration with the US chipmaker Nvidia to develop highly sophisticated self-driving farm tractors capable of making complete autonomous tractors. The collaboration aims to boost the autonomous tractor in the market In 2019, Massey Ferguson introduced its stunning new concept tractor, the MF NEXT. It is a concept that embodies Massey Ferguson's DNA and vision of making tractor technology accessible, easy-to-use, and affordable.

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Electric Farm Tractor Market - Size, Share, Growth, by 2027

Electric farm tractors are tractors that use an electric motor to obtain drive as opposed to the conventional internal combustion engine. Electric farm tractors use a series of batteries to generate power and have fewer mechanical parts.

Rise in awareness about clean and sustainable farming is boosting the growth of the Electric Farm Tractor Market. Rise in fuel cost and active government measures to promote clean technologies are driving the demand for electric farm tractors. Majority of farms globally are subsistence farms and are owned by small farmers; the small farmers are adopting small electric farm tractors for low power demand applications. Furthermore, the trend of consolidation of small farms and their acquisition by commercial farm owners is boosting the need for tractors and is further expected to boost the sale of electric farm tractors. The electric motors have double the torque and as a result are capable of pulling heavier loads. The 60-HP tractor can conduct the work of the 120 Hp diesel tractor. Electric tractors are cost-effective and thus lower the operational cost of agriculture, maximizing the yield. Moreover, the added advantage of low-emission and low maintenance charges of electric farm tractors as opposed to conventional tractors is a major advantage of the electric farm tractor market.

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The electric farm tractor market can be classified according to power type, drive type, and region. By power type, the electric farm tractor market is classified into low & medium duty farm tractor and heavy duty electric farm tractor. The low & medium duty farm tractors hold major market share as electric powertrains are still used for low power application tractors. Advancement in electric vehicle technologies is anticipated to boost the development of high power tractors during the forecast period.

By drive type, the electric farm tractor market is segmented into hybrid/ plug-in hybrid electric farm tractor and electric farm tractor. Hybrid farm tractors hold a large market share. The tractors can be charged by water wheel, windmill, or solar panels. Hybrid tractors have thus gained market dominance due to the infrastructure. The electric farm tractor segment is poised to witness major expansion with incentives from governments to boost the sales of electric farm tractors.

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By region, the electric farm tractor market is broadly classified across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Electric farm tractors are recording high sales in North America. Asia Pacific is a key region for farm tractors and has highest number of tractors. Asia Pacific thus holds a large potential for expansion as the demand shifts from conventional internal combustion engine powered tractors to electric tractors.

Key players operating in the global electric farm tractor market for are John Deere, Alke, Motivo Engineering, Simai, AGCO GmbH, and Mitsubishi Fuso.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Tractor Implements Market To Be Driven By The Rising Demand In The Industrial Sector In The Forecast Period Of  2022-2028

The global Tractor Implements Market size is expected to reach USD 95.24 Billion in 2028 and register a revenue CAGR of 4.8% over the forecast period, according to the latest report by Reports and Data. Rising demand for new and mechanized farming methods, availability of limited farm labor in certain countries, and subsidies offered by governments, especially in developing countries, for promoting use of advanced farm equipment are key factors driving market revenue growth. Various types of equipment can be used with tractors for different applications in agriculture such as harrow, cultivator, trailer, rotavator, rear blades, and others. Rotavators are tractor implements used for tillage. These are modern agricultural machinery used to break, churn, and aerate the soil to increase the amount of oxygen in it. Rotavators have rear blades attached to motors that break the ground when these blades rotate. In addition, tractor implements are used to split soil into fine particles during cultivation. Cultivator is used for sowing seeds before beginning the cropping process. Moreover, the plough is a tractor implement that is used to prevent weeds from breaking soil particles deep into the ground.

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Some Key Highlights From the Report

Irrigation and crop protection segment accounted for the largest revenue share in 2020. Increasing availability of exclusive machinery for harvesting, sowing, and cultivation in agricultural lands is driving demand for improved agricultural techniques for irrigation. Additionally, increasing pesticide application in farms is driving revenue growth of this segment.

Powered segment is expected to register a faster revenue growth rate over the forecast period. Powered tractor implements involve the use of mechanical and electrical energy for use. There is a high use of powered tractor implements for performing various agricultural tasks, as these implements are useful for improving processing efficiency and mechanizing activities of agricultural production process.

4-wheel drive segment is expected to register a rapid revenue growth rate over the forecast period. 4-wheel-drive has more power and productivity, compared to other drives. This type of equipment is the most preferred choice for slopes and undulating terrain, especially for wetland puddling applications. 4-wheel drive tractors allow multiple implements to be attached to perform various functions simultaneously.

Market in North America accounted for significantly large revenue share in 2020 due to rapid adoption of advanced technologies and increasing demand for irrigation and crop protection practices in the agriculture sector. Additioanlly, growing investments by various major players in the development of tractor implements is a key factor boosting revenue growth of the market in North America.

Major companies profiled in the market report are CLAAS, Kubota Corporation, Mahindra & Mahindra, Tractors and Farm Equipment Limited, JCB, CNH Industrial N.V., SDF Group, Actuant Corporation, Alamo Group,, and Kuhn Group.

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For the purpose of this report, Reports and Data has segmented the global tractor implements market based on phase type, power type, drive, and region:

Phase Type Outlook (Revenue, USD Billion; 2018-2028)

Tillage

Irrigation & Crop Protection

Sowing & Planting

Harvesting & Threshing

Others

Power Type Outlook (Revenue, USD Billion; 2018-2028)

Powered

Unpowered

Drive Outlook (Revenue, USD Billion; 2018-2028)

2-wheel Drive

4-wheel Drive

Regional Outlook (Revenue, USD Billion; 2018-2028)

U.S.

Canada

Mexico

Germany

UK

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

China

India

Japan

South Korea

Rest of APAC

Brazil

Rest of LATAM

Saudi Arabia

UAE

South Africa

Israel

Rest of MEA

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[industryforecastnews]

Agricultural Tractors Market Demand 4,968 Thousand Units By 2030 | Grand View Research, Inc.

The global agricultural tractors market demand is expected to reach 4,968 thousand units by 2030, expanding at a CAGR of 6.8% during the forecast period, according to a study conducted by Grand View Research, Inc. Increase in farmers’ income, lower bank interest rates, and soaring farm yields are expected to drive the market growth over the forecast period. In addition, increased demand for mini-compact tractors is likely to drive market growth over the forecast period. Also, the integration of sophisticated technology, such as Light Detection and Ranging (LiDAR) and Global Positioning System (GPS), and telematics coupled with the rising popularity of compact tractors are presumed to drive the market growth over the next few years. Increasing demand for medium horsepower (40 to 100 HP) tractors is likely to grow over the next few quarters of 2022. 

It is attributed to greater convenience for farmers to operate in compact spaces and provide a better operational experience on different terrain. However, Original Equipment Manufacturers (OEMs) are witnessing supply chain disruptions, which may hamper the market growth. In addition, semiconductor shortages are likely to have production delays. Thus, new agricultural tractor sales are likely to see delayed delivery schedule, thereby hindering the market growth. The international commodity prices of base metals directly influence this market. A rise in raw materials costs of steel, aluminum, and others is likely to increase the price of agricultural tractors, which will eventually impact the market demand. The trend is expected to continue till Q4/2022. As a result, OEMs are expected to increase product prices by 22% in 2022. Such challenges may hinder the demand over the forecast period. 

Agricultural Tractors Market Growth & Trends 

·         The surge in demand for 2WD tractors and the rising popularity of autonomous tractors are likely to drive the market over the forecast period

·         China, India, and countries of Eastern Europe are likely to have strong demand for less than 40 HP engine tractors over the forecast period

·         This is due to lower credit interest rates and policies undertaken by the respective government to protect farmers’ income

·         The 2WD and 4WD segments are expected to register 7% and 4% growth rates in 2022 and 6% and 3% in 2023 respectively

·         The slowdown is attributed to worldwide tractor microchip shortages, which cause supply chain delays leading to low inventory stocks of equipment and parts

·         Key vendors in the market continue to witness labor shortages, leading to production delays. However, OEMs advancement in electric tractors with autonomous features is expected to be a new revenue stream to increase their market profitability over the next few years

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[sjsuraj]

Agricultural Equipment Market High State Of Affairs, SWOT Analysis, Business Summary and Forecast 2032

As per a recent survey by FMI, the global agricultural equipment market is expected to total US$ 65 Bn in 2021. In response to surging demand for advanced and automated technologies in the agricultural sector, the market is anticipated to register steady demand.

As per FMI, the global agricultural equipment market will expand at 4.8% CAGR between 2021and 2031 in comparison to 2.8% CAGR registered from 2016 to 2020.

The advent of novel electrical technologies has rapidly transitioned traditional farming methodologies to modern agricultural machinery over the past few years. As this equipment minimizes manual labor, increases production, and reduces turnaround time, they are extensively being adopted by framers.

Further, favorable initiatives undertaken by governments of several countries are mechanizing the agricultural sector to address the increasing demand for food. For instance, according to the India Brand Equity Foundation (IBEF), the Indian Government has announced to allocate more than US$ 551 million under an initiative named Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-22. Such initiatives are estimated to create high revenue-generation opportunities for the market players.

Among product type verticals, tractor is projected to remain the most preferred farming machine in the segment. The growth in the segment is attributed to the multipurpose nature of tractors such as preparing fields, plowing, harvesting, and others.

“Manufacturers are emphasizing on launching novel automated farming equipment with integrated advanced technologies such as internet of things (IoT), telematics, and artificial intelligence (AI) to capitalize on the trend of smart farming,” says the FMI analyst.

Key Takeaways from the Agricultural Equipment Market Study

Growing focus on mechanization in agricultural sector to counter labor scarcity in the U.S. is expected to drive the North America market at a CAGR of 3.9% over the assessment period.

Europe agricultural equipment market is forecast to rise at a 4.4% CAGR through 2031, with the U.K. and Germany leading the growth owing to the easy availability of agricultural equipment on rentals.

India is projected to emerge as one of the most lucrative markets in Asia Pacific, favored by the increasing number of favorable governmental policies in the country.

South Korea and Japan are estimated to collectively account for nearly 11% of global revenue share in 2021, supported by presence of leading manufacturers such as Kubota Corporation and Dae Heung Engine Co., Ltd.

In terms of category, self-propelled equipment is anticipated to dominate the segment, on the back of lesser cost, low risk of accident, and faster performance than tractor-pulled equipment.

Key Drivers

Increasing government initiatives for farm mechanization to address the demand for food in developing countries such as India, China, and Japan is driving the sales of agricultural equipment.

Introduction of novel farming machinery with global positioning system (GPS) and growing availability of agricultural equipment on lease and rentals is driving the growth in the market.

Key Restraints

High cost of agricultural equipment such as tractors and rotavators is hampering the growth of the market.

Growing demand for construction and declining area of arable land across countries such as the U.S., Japan, China, Kuwait, and others is hindering the sales of agricultural equipment.

Competitive Landscape

As per FMI, top 5 manufacturers in the global market are Deere & Company, AGCO Corp, CNH Industrial N.V., Kubota Corporation, and CLAAS KGaA GmbH. These players are expected to account for nearly 44% of the overall sales in 2021.

Key manufacturers are focusing on developing and launching advanced quality products. They are aiming at adopting various organic and inorganic expansion strategies such as mergers and acquisitions, partnerships, collaborations, and advanced product development to gain a competitive edge in the market. For instance,

In August 2021, Deere and Company, an American manufacturer of agricultural machinery, announced acquiring an agricultural technology startup based in Silicon Valley, Bear Flag Robotics, for US$ 250 million. The acquisition will assist the company to create smarter machines with advanced technology

In 2021, XAG Co., Ltd., a leading agri-tech company, announced launching a new a jet sprayer system to pollinate fruit trees, XAG R150. Its sprays a specially mixed solution of pollen which is sent on a predetermined route around orchards.

Some of the key players operating in the market profiled by FMI are:

Bucher Industries AG

AGCO Corp

Deere & Company

EXEL Industries

CLAAS KGaA mbH

ISEKI & CO. LTD.

CNH Industrial N.V.

Krone UK Group

Kubota Corporation

LEMKEN GmbH & Co. KG

Mahindra & Mahindra Ltd.

Mitsubishi Mahindra Agricultural Machinery Co. Ltd

SDF S.p.A.

Tractor and Farm Equipment Limited (TAFE)

More Valuable Insights on Agricultural Equipment Market

FMI, in its new report, offers an unbiased analysis of the global agricultural equipment market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in agricultural equipment market with detailed segmentation:

By Product type:

Tractors

Rotavators

Wheel Type

Crawler Type

Threshers & Dehuskers

Wheel Type

Crawler Type

Power Tillers

Wheel Type

Crawler Type

Power Weeder

Wheel Type

Crawler Type

Plough

Baler

Seed Drill

By Category:

Tractor Pulled / Attachment

Self-Propelled

By Ownership:

Individual

Rental

By Regions:

North America

Latin America

Europe

East Asia

South Asia & Pacific

Middle east & Africa

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[research-blogs]

Industrial Coatings Market Key Trends Analysis and Strategic Analysis Forecast 2027

The global industrial coatings market size is expected to reach USD 101.9 billion by 2027, expanding at a CAGR of 3.0% over the forecast period, according to a new study by Grand View Research, Inc. Increasing product demand from the general industry, automotive and refinish, oil and gas, marine, mining, power generation, electronics and aerospace industry is expected to propel market growth.

Industrial coatings are widely used in general industrial applications such as in heat exchangers, steel structure, containers, concrete, furniture, appliances, and material handling equipment to protect them from heat and humidity. It also helps to protect equipment against corrosion, abrasion, and chemical attack, and thereby improves product efficiency.

Growing economies such as Brazil, China, and India are expected to provide new opportunities for the market on account of rapid industrialization. The presence of a large number of manufacturers is also projected to fuel the demand for industrial coatings for general industrial applications. However, the outbreak of COVID-19 in China and other countries, including India, Australia, Thailand, and Japan, has resulted in lockdown of major cities and caused a sharp slowdown in manufacturing industries, which is expected to hinder market growth in the coming years.

Based on product, the alkyd segment is anticipated to witness substantial growth rate over the forecast period. Alkyd coatings are used in an industrial environment majorly for metal coatings. They have good gloss, color retention, and corrosion resistance properties. In addition, they increase the durability of metal, which find application in the glazing of various structures such as bridges, towers, oil and gas plants, automotive parts, and marine vessels.

Alkyd coatings segment is expected to witness a volume-based CAGR of 2.6% over the forecast period. Rising product demand is attributed to its expanding application scope in construction, automotive, and oil and gas industries. The presence of low VOC is also expected to drive the segment in matured countries of Europe along with U.S. and Canada.

The powder based segment is projected to witness considerable growth during the forecast period. It is more durable and eco-friendly as compared to its counterparts. Powder based coatings have negligible VOC content due to the absence of solvents and thus, they comply more efficiently and economically with the Environmental Protection (EP) regulations. They are widely used in agricultural equipment, automotive, machine components, mechanical parts, building facades, and electrical fixtures to prevent corrosion and provide a thicker blazing. Increasing demand for farming equipment such as tractors in Brazil, India, and China is expected to drive the segment.

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Industrial Coatings Market Report Highlights

· Asia-Pacific dominated the market during the forecast period from 2020 to 2027 and is projected to witness a revenue-based CAGR of 3.4%

· The acrylic segment is anticipated to witness highest revenue-based CAGR owing to its rising demand in various end-use industries

· Various strategic initiatives were recorded over the past few years in order to boost the growth of the market. For instance, in July 2019, Axalta Coating Systems, LLC showcased its new technology Amarium Pre-Catalyzed Lacquers for use in wood blazings. The new technology is employed for various applications including wooden furniture, cabinets, and other interior wood surfaces and protects the surface from ultra-violet radiation.

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[factmrblog]

A Comprehensive Overview of the Tiller Machines Market – 2022-2032

The global tiller machines market is estimated to reach a value of USD 2.467 billion in 2022 and is projected to grow at a CAGR of 6.59% during the forecast period of 2022-2032 to reach a value of USD 3.777 billion by 2032. The growth in the global tiller machines market is driven by factors such as the growing population of farmers, the expansion of the farming industry, and the advancement of mechanization in the agricultural sector.

Due to the growth in the population, the demand for food has increased significantly, which has caused the demand for agricultural output to rise significantly. Thus, farmers are adopting efficient farming practices, which include the deployment of tiller machines. Tiller machines are highly efficient in shredding and tilling the fields, thus improving the productiveness of the soil. Furthermore, the advanced technology coupled with the automation of these machines have increased its demand.

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Key Companies Profiled

Bucher Industries AG

AGCO Corporation

Kubota Corporation

Claas KGaA mbH

Sharp Garuda Farm Equipments Pvt. Ltd

CNH Industrial NV

Mahindra & Mahindra Ltd

Deere & Company

Eurometal MIO

Competitive Landscape

Key players in the tiller machines market use methods such as product releases, mergers and acquisitions, collaborations, and alliances to maintain their position in the worldwide market. Moreover, these players are concentrating on making items more lightweight, compact, and user-friendly.

Kirloskar Oil Engines Limited (KOEL) introduced a new tiller machine with K-Cool technology engines in June 2022. The self-start engines of the 12 HP and 15 HP tiller machines enable uninterrupted operation.

VST Tillers Tractors Limited (VST) launched its first cutting-edge Experience Centre in Pune, India, in June 2022. The experience center will feature tiller machines, tractors, rotary tillers, power weeders, brush cutters, rice transplanters, power reapers, hedge trimmers, and accessories, allowing consumers to get hands-on experience with VST’s advanced farm equipment.

Key Segments of Tiller Machines Industry Research

By Product Type :

Front Tine

Rear Tine

Mini-Cultivators

By Tilling Width :

9 Inches

14 Inches

15 Inches

16 to 36 Inches

By Power Capacity :

Under 25 HP

25 to 40 HP

40 to 60 HP

60 to 80 HP

By Mechanism Type :

Hydraulic

Electric

By Region :

North America

Latin America

Europe

APAC

MEA

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Queries addressed in the Tiller machines market report:

Why are the Tiller machines market players targeting region for increased product sales?

What patented technologies are the players utilizing in the global Tiller machines market?

Which regions are displaying the fastest growth in the Tiller machines market?

What are the underlying micro- macroeconomic factors affecting the global Tiller machines market?

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[weepingengineerpuppy]

Agricultural Machinery Market Forecast to 2027

Market Analysis

The agriculture machinery market will touch USD 135 billion at a 4.8% CAGR between 2019- 2025, reveals the Market Research Future (MRFR) report. Agriculture equipment, simply put, is the machinery that is utilized by farmers at different stages of agriculture like agro-processing, harvesting, and planting. It has replaced traditional tools.

Several factors are adding to the global agriculture equipment market. Some of these factors, according to the MRFR report, include the emergence of contract farming, rise in agricultural production targets, rapid increase in population, adoption of modern technologies by farmers to increase farm yield, and support from the government to develop farming activities like the provision of subsidies to acquire seeds, agriculture equipment, and fertilizers.

On the contrary, the high cost of agricultural machinery, volatility in raw material prices, lack of awareness regarding the benefits of using such agriculture equipment, and need for high capital investment to set up plants may deter the global agriculture equipment market growth over the forecast period.

COVID-19 Analysis

During the COVID-19 crisis, the agriculture equipment market is playing a crucial role by serving as a bridge in the food value chain, offering necessary equipment and maintenance support. Owing to the crisis, there has been a supply chain disruption, and companies are laying emphasis on new strategies to produce and consume locally.

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Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global agriculture equipment market based on sales channel, function, and product type.

By product type, the agriculture equipment market is segmented into soil separation equipment, harvester, tractor, and others. Of these, the tractor segment will lead the market over the forecast period for the increasing need for low-weight and autonomous tractors for different cash-rich plants like strawberries and grapes.

By function, the agriculture equipment market is segmented into plowing & cultivation, haying, planting and fertilizing, harvesting, and others. Of these, the plowing and cultivation segment will dominate the market over the forecast period for the growing need to improve the level of soil fertility, enhance productivity, and maintain the nutrients.  

By sales channel, the agriculture equipment market is segmented into aftermarket and OEM. Of these, the aftermarket segment will spearhead the market over the forecast period for a large agriculture base and the growing number of agriculture equipment aftermarket centers in Argentina, Brazil, India, and China.  

Regional Analysis

By region, the global agriculture equipment market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. Increasing population in India and China that led to the growing demand for food, growing export of cereals, growing government support, rising incentives on farming equipment, the emergence of contract farming in India, lack of farm labor, and rising sale of tractors are adding to the global agriculture equipment market growth in the region.

The agriculture equipment market in Europe is predicted to have the second-largest share over the forecast period. Improved productivity through mechanization and labor shortage is adding to the global agriculture equipment market growth in the region.

The agriculture equipment market in North America is predicted to have healthy growth over the forecast period. The growing demand for tractors in Canada and the US and the growing wine industry is adding to the global agriculture equipment market growth in the region.

The agriculture equipment market in the RoW is predicted to have sound growth over the forecast period.  

Key Players

The top market players profiled in the agriculture equipment market report include Escorts Limited (India), Mahindra & Mahindra Limited (India), CLAAS KGaA mbH (Germany), Iseki & Co., Ltd (Japan), Daedong Industrial Co., Ltd (US), Kubota Corporation (Japan), CNH Industrial NV (UK), Deere & Company (US), JC Bamford Excavators Limited (UK), and AGCO Corp. (US).

Industry Updates

January 2021- Escorts Limited is the only and first company in India to receive a CMVR certificate for the electric tractor.

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[hauntedsheepwhispers]

The Global Tire Materials Market is projected to reach USD 112.34 billion by 2028, growing at a CAGR of 4.5% during the forecast period.

Tires in automotive generally perform functions like transmitting traction and braking forces to the road surface, supporting the vehicle load, changing and maintaining the direction of travel and absorbing road shocks. To ensure these functions are being adequately met, the use of appropriate materials which will give satisfactory properties is necessary.

.

Key Factors Impacting the Growth of Tire Materials Market:

·         Growth in the automotive industry.

·         Improvement in rubber chemistry and tier design.

·         Rising demand from developing countries.

·         Continuous change in raw material prices.

·         Strict government regulation regarding road safety.

 Tires are an important part of the automobile industry and thus, production and sales of vehicles directly affect the dynamics within the tire industry. Over the recent past, the automotive industry has registered significant growth and is expected to grow at the same rate over the projected period. This growth is expected to be comparatively higher in Asian countries, such as China and India, which can be attributed to better economic conditions and growing inclination of population towards comfort-traveling, and this in turn, is expected to fuel the demand for tires. In a vehicle, a tire is one of those parts that must be replaced frequently, after every 2-3 years as tires experience maximum wear and tear and therefore have a considerable demand in the aftermarket as well. 

 Key Players : Major Companies profiled in the report which are key players in the global tire materials market are Solvay SA, Lanxess AG, Exxon Mobil Corporation, JSR Corporation, Cabot Corporation, Birla Carbon, Evonik Industries AG, Bekaert, Royal Dutch Shell, Chevron Corporation, and Umicore SA.

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Initially, the research report examines the basic market overview, product definition, specification, and study objectives. The growth analysis, competitive analysis, and development prospects across different geography are described in this study in details. In addition, it offers detailed data of vendors including their profiles, sales, applications, specifications of the product, annual performance in the industry, investments, acquisitions and mergers, market size, revenue, market share, and more. Overall data will help customer better understand their rivals.

The Tire Materials research report focuses on the manufacturers’ data such as price, shipment, business distribution, revenue, gross profit, interview record, etc. Such data will help the users to know more about the key players or competitors better. Moreover, the report also focuses on the countries and regions of the globe, which presents a regional status of the market including volume and value, market size, and pricing structure. This report covers an in-depth analysis of the global Tire Materials market with statistical and qualitative data points with an emphasis on the market dynamics including the drivers, and opportunities & restraints.

Market Segmentation: By Vehicle Type (Passenger, Commercial, Electric, Defense, Construction, Farm Tractors, Others), By Type (Elastomers, Plasticizers, Chemicals, Reinforcing Fillers, Metal Reinforcements, Textile Reinforcements)

Geographically, the Tire Materials market report is categorized into various main regions, including sales, proceeds, market revenue, and development rate in the following areas –

North America (U.S., Canada,     Mexico)

Asia-Pacific (China. India,     Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific )

South America (Brazil,     Argentina, Colombia, Rest of South America)

Europe (Germany, Russia, UK,     France, Italy, Spain, The Netherlands, Rest of Europe )

Middle East and Africa (UAE,     Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)

The global Tire Materials market report covers all the significant information about market manufacturers, distributors, traders, and dealers. This data helps clients to know the product scope, market overview, and market risk, market driving force, technological advancements, market opportunities, challenges, research findings, and key competitors. The global Tire Materials market report will offer an in-depth analysis of the upstream raw material as well as downstream demand in the Tire Materials market.

Reasons to Purchase Global Tire Materials Market Report:

Recent and forecast Global Tire     Materials Market evaluation across different regions for well-developed     and emerging market players.

Several aspects of the     market are offered with the help of SWOT analysis (strengths,     opportunities, weaknesses, and threats analysis).

Dominant market providers,     their company profile, production and consumption statistics, and product     portfolio are covered.

Regions reflecting marvelous     growth and growth opportunities are described in this study.

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[ananya5400]

Agricultural Sprayers Market Projected to Garner Significant Revenues by 2025

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46851524The report "Agricultural Sprayers Market by Type (Self-propelled, Tractor-mounted, Trailed, Handheld, Aerial), Capacity, Farm Size, Crop Type, Power Source (Fuel-based, Electric & Battery-driven, Manual, Solar), and Region - Global Forecast to 2025", According to MarketsandMarkets, the global agricultural sprayers market size is estimated to be valued at USD 2.2 billion in 2020. It is projected to reach USD 3.1 billion by 2025, recording a CAGR of 6.5% during the forecast period. Agricultural sprayers have become essential for farmers or growers for spraying pesticides, herbicides, and fertilizers in the field pre- and post-harvest as per the requirement. Thus, the market for agricultural sprayers is growing due to extensive changes in farming and spraying technologies.

COVID-19 Impact on the Global Agricultural Sprayers Market

The agricultural sprayers market includes major Tier I and II manufacturers like John Deere, CNH Industrial N.V., Kubota Corporation, Mahindra & Mahindra Ltd., STIHL, AGCO Corporation, Yamaha Motor Corp., and Bucher Industries AG. These manufacturers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. COVID-19 has impacted their businesses as well. Though this pandemic situation has impacted their businesses, there is no significant impact on their agricultural sprayers' global operations and supply chain. Multiple manufacturing facilities of players are still in operation.

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Opportunities: Growth in the trend of precision and other modern farming practices

The farming industry is experiencing various technological advancements. Increasing demand for advanced technological solutions, modern technology, and agriculture has enabled farmers to engage in effective weed management practices. Increasing awareness about equipment such as sprayers among farmers is fueling the growth of the sprayers market globally. Also, modern agricultural techniques such as precision farming help growers to make more revenue from agribusinesses. Precision farming helps obtain accurate information regarding the application of irrigation water, liquid fertilizers, nutrients, herbicides, and pesticides on the field, thereby reducing the wastage of resources. Mapping software, variable rate technology (VRT), yield mapping, and other modern farming techniques help farmers increase the fertility, productivity, profitability, and sustainability of crops. If there is a shortage of fertilizers, their inappropriate and improper use will lead to underproduction and wastage.

The Asia Pacific region is projected to account for a major share in the market during the forecast period

This market is also projected to be the fastest-growing during the forecast period. Agriculture is the major occupation in the Asia Pacific region; it has a huge regional presence, including countries like China, India, Australia, Japan, and the Rest of Asia Pacific. Thus, the increasing agricultural practices, use of advanced technological farm equipment, and requirement of high-quality agricultural produce are expected to drive the agricultural sprayers market in this region.

Speak to Analyst:  https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=46851524

This report includes a study on the marketing and development strategies and the product portfolios of leading companies. It consists of profiles of leading companies, such as John Deere (US), CNH Industrial N.V. (UK), Kubota Corporation (Japan), Mahindra & Mahindra Ltd. (India), STIHL (Germany), AGCO Corporation (US), Yamaha Motor Corp. (Japan), Bucher Industries AG (Switzerland), EXEL Industries (France), AMAZONEN-Werke (Germany), BGROUP S.p.A. (Italy), Agro Chem Inc. (US), Boston Crop Sprayers Ltd. (UK), H&H Farm Machine Co. (US), Buhler Industries Inc. (Canada), AG Spray Equipment, Inc. (US), and John Rhodes AS Ltd (UK).