Global Ploughing and Cultivating Machinery Market - 2023-2030

Overview

Global Ploughing and Cultivating Machinery Market reached US$ 4695.76 million in 2022 and is expected to reach US$ 8128.71 million by 2030, growing with a CAGR of 7.1% during the forecast period 2023-2030.

Tractor Ploughing is the most common and green farming practice. Plough is the most required agricultural tool when it considers the start of Agriculture. In addition, The total land area of the world is 13,003 million acres. The FAO classifies 4,889 million ha as an "agricultural area." The Plough is one of the oldest farming tools with a notable revolution. It orientated from primitive equipment to superior machinery.

Plough is used to boom the best amount of yield as Ploughing has a ton of benefits to Tractor Ploughing. Manufacturers evolved clever technology inside the ploughing system with a view to growing the call for framers related to ploughing to powerful farm exercise that cuts, granulates, inverts the soil, and creates furrows, ridges, and moist soil. In addition, an increase in agricultural output in tandem with the populace allows them to in all likelihood act as an element for the Ploughing and Cultivating Machinery market within the forecast period of 2023- 2030.

Dynamics

The Scarcity of Low-Cost Labour Contributes to Increased Farm Mechanization Adoption

The scarcity of hard labour is encouraging farmers, particularly large-scale farmers, to invest in farm mechanisation. Anticipation of a shortage of hard work, particularly professional labour, may also drive a stronger call for farm mechanisation, which may result in higher global demand for agricultural machinery, including ploughing and cultivation machinery.

According to the NITI Aayog report, in India, the industry and services sectors, which account for more than 80% of the gross value added, employ 54.4% of the workforce, while agriculture, which accounted for 18.29% of GVA in 2019-20, employs 45.6% of the workforce. This disparity in sectoral percentages of profits and employment is reflected in the growing gap between employee earnings in the agriculture and non-agriculture sectors.

Increasing The Number of Product Development From The Manufacturers

The growing number of product developments from the manufacturer is in most cases driven by the Ploughing and Cultivating Machinery market. Companies operating within the marketplace are focused on extending their product range by launching new products.

Companies within the marketplace are trying to appeal to extra customers by using introducing new machines with superior capabilities and providing ploughing and cultivating machines with patented features. They are also conscious of imparting decreased-capability ploughing and cultivation machines to meet the wishes of small farm proprietors. For instance, in January 2022, John Deere ploughs farming ahead with a first-ever robotic tractor. Thus, the introduction of the latest models will assist in booming sales, which will undoubtedly affect the increase of the worldwide ploughing and cultivation equipment marketplace through the forecast duration.

Technological Advancement in Plowing And Cultivating Machinery

Modern farms and agricultural operations are hugely distinct from the ones of a few a long time in the past, owing to technological advancements inclusive of sensors, devices, machines, and facts technology. Since antiquity, man has used the plow to the ground for successive operations and to interrupt up the soil.

Driverless plows and self-weeding tools for vegetable plots are the latest innovations ready to help farmers balance labor shortages, climate change, and environmental protection while feeding the world's growing population. For instance, on January 7, 2022, John Deere, a venerable American farm equipment manufacturer, and Naio, a French agricultural robot start-up, debuted their modern-day innovations at the Consumer Electronics Show. John Deere combined its popular 8R tractor, a plow, GPS, and 360-degree cameras to create machinery that a farmer can control with a smartphone. These advanced devices, precision agriculture, and robotic systems enable organizations to be more profitable, efficient, safe, and environmentally friendly.

Increasing the Government Support Towards the Agricultural Industry

Governments in many countries are providing financial and technical assistance to farmers to help them adopt modern agricultural practices. This includes providing subsidies for the purchase of agricultural machinery, which is helping to boost the demand for plowing and cultivating machinery. For instance, on July 6, 2022, the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food Canada, announced over $1 million in funding for SomaDetect Inc. and Vivid Machines Inc. through the AgriScience Programme to help producers improve farm management and their bottom line.

Furthermore, In India, On February 2021, The Government as a policy is promoting 'Make in India' products and encouraging domestic manufacturers for manufacturing agricultural machinery and types of equipment through Research & Development support, skill development, simplification of rules and procedures for testing of machines and equipment, which will drive the Ploughing and Cultivating Machinery market growth.

High-Cost Price Along With Low Commodity Prices

The cost of ploughing and cultivating equipment can be high which is associated with equipment cost and manufacturing and processing value. According to the Tractor Junction, The Price of a tractor Plough variety starts from Rs. 28500 to 3.05 Lakh.

In addition, Iowa State University estimated the average repair cost of the ploughs for 8 years is around 12, 400 USD with the intention to bog KUHN SASn the market growth. Moreover, the Volatility of commodity cost turns into the most important and principal undertaking for affecting market growth.

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Segment Analysis

The Global Ploughing and Cultivating Machinery Market is segmented based on type, technology, industry, application, distribution channel, and region

Rising Demand For Soil Management Associated With Ploughs Harvesting

The plows Product segment holds a major share of the global ploughing and cultivating market and countries like U.S., Germany, and UK have shown the highest growth in the market. With the improvement of the agricultural industry, plough equipment has skilled strong improvements. Today, there are various ploughs equipment implements, and gear that facilitate each step of crop manufacturing. From coping with the soil to harvesting. More precisely, concerning ploughs, there are various sorts of machinery to be had in the marketplace.

In addition, the ploughs are sizeable whit the intensity of ploughing together with ploughs for very shallow ploughing: 10-20 cm, Plows for shallow ploughing: 20-30 cm, Plows for deeper soil tillage: 30 -40 cm, and Plows for undermining: more than 40 cm. In addition, the equipment is easy to use and an effective farm exercise that cuts, granulates, and inverts the soil, developing furrows and ridges.

Source: DataM Intelligence Analysis (2023)

Geographical Penetration

North America's Dominant Share of Ploughing And Cultivating Industry

North America is the largest market for agricultural machinery in the global, due to the usage of advanced farming over widespread regions, with support from new technology used in farm machinery. Some of the advanced technology utilized in ploughing and cultivating operations significantly in North America encompasses GPS-enabled systems, tremendous soil sampling, real-time tracking of soil moisture content the usage of sensors, among others. In addition, the US ploughing and cultivating equipment marketplace accounted largest market share in the North American region, despite the developing popularity of no-till farming inside the united states.

Ploughing and tillage are the number one causes of soil erosion, and accordingly, there's an increasing call for no-tillage farming a type of soil conservation farming that prepares the land for ploughing without mechanically demanding the soil. Thus, the vast no-tillage farming in the United States exercise is expected to keep returned America ploughing and cultivating equipment market growth in the course of the forecast length.

Source: DataM Intelligence Analysis (2023)

Competitive Landscape

The major global players include AGCO Corp., Sampo Rosenlew Ltd, Mahindra & Mahindra Ltd., KUBOTA Corporation, YANMAR HOLDINGS CO., LTD., Deere & Company, CLAAS KGaA mbH, Weichai Lovol Heavy Industry Co., Ltd, Iseki & Co., Ltd., and Pickett Equipment

COVID Impact

The pandemic brought about increased stress, anxiety, and isolation for many individuals. According to the Tractor Junction report, Indian farmers lost their additional income sources due to the lousy Impact of covid 19 on the agriculture industry, many small and marginal farmers had other income sources instead of farming. They might have a side business or other work from which they can earn enough amount to manage their household expenses.

Due to the outbreak of COVID-19 in 2020, the Ploughing and Cultivating Machinery market faced some challenges. However, agricultural equipment manufacturing has resulted in an increase in demand for Ploughing and Cultivating Machinery. These factors are expected to have a positive impact on the market's growth during the forecast period.

Russia- Ukraine War Impact

The ongoing conflict can create economic instability in the region. Uncertainty and disruptions in trade and commerce can impact consumer confidence and purchasing power. As a result, individuals may prioritize essential needs over non-essential purchases like Ploughing and Cultivating Machinery, leading to a potential decline in demand.

Furthermore, during times of uncertainty, consumers may shift their preferences towards more essential goods and services, diverting their discretionary spending away from cost-effective items like Ploughing and Cultivating Machinery. The change in consumer behaviour has potentially reduced demand in the market.

By Type

• Ploughing and Cultivation Parts
• Planters
• Transplanters and Seeders
• Weeders and Hoes
• Cultivation Machines
• Ploughs

By Technology

• Manual
• Semi-Autonomous
• Autonomous

By Industry

• Agriculture
• Horticulture
• Landscaping
• Others

By Application

• Soil Loosening
• Clod Size reduction
• Clod sorting
• Others

By Distribution Channel

• Company-Owned Stores
• Specialty Stores
• Hypermarket/Supermarket
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On April 2023, Amazon launched its largest plough, the semi-mounted Tyrok 400. The Tyrok 400 Onland is designed for tractors with up to 400hp and is available in seven-furrow plus one and eight-furrow plus one variant, for a total of nine-furrow operation, with shear-bolt or hydraulic leg protection.
• On March 2023, NEXAT, a European company, recently launched an all-in-one agricultural machine that automatically sows, cultivates, sprays, and harvests. NEXAT's electric generators are now powered by two independently operated 550 hp diesel engines, but the system is intended to be powered by green hydrogen fuel cells.
• On November 22, 2021, Electric Power Tiller was launched by VST Shakti Power Tiller. The 95 DI Ignito -Power Tiller is India's first electric start machine with a powerful 9 HP engine and comes in a wide range of brush cutters designed specifically to meet the needs of small and marginal farmers, who account for more than 80% of India's farming community.

Why Purchase the Report?

• To visualize the Global Ploughing and Cultivating Machinery Market segmentation based on type, technology, industry, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Ploughing and Cultivating Machinery market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Ploughing and Cultivating Machinery Market report would provide approximately 69 tables, 72 figures and 187 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies