Agriculture equipment refers to the machinery or manufactured components that boost land output in global agro-based economies. The machinery directly encourages farmers and landowners to integrate automation technologies into their traditional farming operations. Furthermore, customers are being driven to take use of the benefits of modern technology in farming applications as a result of the growing scarcity of human labour and the high expenses associated with keeping animals on construction sites in many countries.
Germany Agricultural Equipment Market Driving Factors and Challenges
Driving Factors- The agricultural equipment market is expanding rapidly due to the rapid development and acceptance of modern technologies such as GPS, IoT, and AI. These advances are altering farming techniques, resulting in greater efficiency and output. Furthermore, the business is seeing a growing trend of agricultural mechanisation, with farmers increasingly relying on machinery to do numerous duties. This combined push for technology and mechanisation is driving up the demand for sophisticated agricultural equipment. For example, in October 2023, BigHaat launched the latest Pahalwaan sprayers under its in-house brand, House of Tapas. This addition to BigHaat's digital agri ecosystem is intended to improve the lives of farmers and the agricultural sector.
Challenges- Growth of the Rental Market
The majority of the rental market is occupied by businesses that invest in farm equipment, such as harvesters and tractors, which represent a significant financial investment. Farmers can see that the cost of the machinery they can purchase is a reflection of the high costs associated with designing, producing, and shipping this equipment. One reason for the low adoption of farm equipment in emerging economies is small-scale farmers' limited ability to make investments.
Impact of COVID-19 on Germany Agricultural Equipment Market
The COVID-19 pandemic had a disruptive effect on the world's agricultural industry and spread rapidly due to the unstable prices of key agricultural goods. Because labour-intensive agriculture countries are cutting back on operations, this has given the agricultural economy a downward momentum. But the post-pandemic widening of the supply-demand disparity in the fossil fuel sector is driving greater ethanol demand. Furthermore, a favourable atmosphere for market growth has been generated by the growing automation of the Internet of Things and the incorporation of wireless equipment types into product portfolios.
Germany Agricultural Equipment 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 Agrale S.A, AGCO Corporation, CLAAS KGaA mbH, Deere & Company, CNH Industrial N.V, Kubota Corporation, Mahindra & Mahindra Ltd, Yanmar Co.
Germany Agricultural Equipment Market Segmentation:
By Equipment Type: Based on the Equipment Type, Germany Agricultural Equipment Market is segmented as; Tractors, Planting Equipment, Tillage Equipment, Sprayer, Harvesting Equipment, Mowing Equipment, Others.
By Application Type: Based on the Application Type, Germany Agricultural Equipment Market is segmented as; Land Development and Seed Bed Preparation, Sowing and Planting, Plant Protection, Harvesting and Threshing, and Post Harvesting.
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.