Agricultural equipment refers to machinery, tools, and implements used in farming and agricultural activities, such as land preparation and planting, cultivation, harvesting, and post-harvest processing. Farming equipment is critical in modern agriculture because it improves efficiency, productivity, and sustainability while using less labour and resources. Farmers worldwide employ agricultural equipment extensively to improve efficiency, minimise labour, and increase production in modern farming operations.
Turkey Agricultural Machinery Market Driving Factors and Challenges
Driving Factors- Increasing food consumption is expected to drive growth in the Agriculture Machinery Market over the forecast period. Food demand is rapidly increasing over the world. This is attributable to increasing population and disposable money. Increased food demand has prompted farmers to embrace contemporary farming practices in order to raise crop yields, hence increasing demand for agricultural equipment. Growing mechanisation of farming operations is likely to propel Agriculture Machinery Market growth during the forecast period. Many farmers are using new machinery into their farming operations. Farming operations are mechanised, which results in greater productivity and profitability by meeting schedules. Farm mechanisation also helps to preserve farm produce, which increases profitability and cost-effectiveness by lowering post-harvest losses. These techniques reduce waste, extend shelf life, and result in value addition and higher cash transfers to farmers from various consumer groups.
Challenges-
Market expansion is restricted by the high cost of agricultural machinery.
The market expansion for agricultural machinery is severely hampered by the high price of this equipment. The purchase price, ongoing maintenance costs, and farmers' total financial burden are all included in this cost element. The restricted financial resources of small and medium-sized farmers make it particularly difficult for them to invest in cutting-edge, contemporary technology. Farmers are further burdened with increased expenses due to the ever-evolving nature of agricultural technology, which demands frequent modifications. High machinery capital costs limit access to cutting-edge solutions that could improve sustainability and productivity, which exacerbates the digital divide.
Impact of COVID-19 on Turkey Agricultural Machinery Market
The Covid-19 epidemic has had a substantial influence on a number of businesses, including agriculture. This section looks at how the pandemic has influenced the agricultural machinery market, including supply chain interruptions, changes in customer behaviour, and the adoption of new technologies. It also looks at the market's resilience, recovery methods, and potential post-pandemic consequences.
Turkey Agricultural Machinery Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Erkunt Traktr Sanayii AS, CNH Industrial NV, Tumosan Tractors Europe, Uzel Corporation, Hattat Holding AS, AGCO Corporation, Turk Tractor and Agricultural Machinery Corporation, Deere & Company.
Turkey Agricultural Machinery Market Segmentation:
By Type: Based on the Type, Turkey Agricultural Machinery Market is segmented as; Tractors, Plowing and Cultivating Machinery, Planting Machinery, Irrigation Machinery, Harvesting Machinery, Haying and Forage Machinery, Other Types.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.