Stratistics MRC¿¡ µû¸£¸é, ¼¼°è ³ó¾÷±â°è ½ÃÀåÀº 2023³â 1,077¾ï ´Þ·¯ ±Ô¸ðÀ̸ç, ¿¹Ãø ±â°£ µ¿¾È 6.80%ÀÇ CAGR·Î ¼ºÀåÇÏ¿© 2030³â¿¡´Â 1,707¾ï ´Þ·¯¿¡ ´ÞÇÒ °ÍÀ¸·Î ¿¹»óµË´Ï´Ù.
³ó¾÷±â°è´Â È¿À²¼º°ú »ý»ê¼ºÀ» ³ôÀ̱â À§ÇØ ³ó¾÷ Ȱµ¿¿¡ »ç¿ëµÇ´Â ±â°è, µµ±¸ ¹× Â÷·®À» ¸»ÇÕ´Ï´Ù. ÀÌ·¯ÇÑ Àåºñ´Â ½É±â, ¼öÈ®, °æÀÛ, °ü°³, °¡Ãà °ü¸® µî ´Ù¾çÇÑ ÀÛ¾÷À» ¼öÇàÇϵµ·Ï ¼³°èµÇ¾ú½À´Ï´Ù. ÀϹÝÀûÀÎ ¿¹·Î´Â Æ®·¢ÅÍ, Àï±â, ÆÄÁ¾±â, ÄÞ¹ÙÀÎ, º£ÀÏ·¯ µîÀÌ ÀÖ½À´Ï´Ù. Çö´ëÀÇ ³ó¾÷±â°è´Â GPS, ¼¾¼, ÀÚµ¿È µî ÷´Ü ±â¼úÀ» ÅëÇÕÇÏ¿© ÀÛ¾÷À» ÃÖÀûÈÇÏ°í ³ëµ¿·ÂÀ» Àý°¨ÇÏ´Â °æ¿ì°¡ ¸¹½À´Ï´Ù. ³ó¾÷±â°èÀÇ ÁøÈ´Â ³ó¹ý¿¡ Çõ¸íÀ» °¡Á®¿Ô°í, ³óºÎµéÀÌ º¸´Ù È¿À²ÀûÀ̰í Áö¼Ó°¡´ÉÇÑ ÀÛ¾÷À» ´Þ¼ºÇÒ ¼ö ÀÖ°Ô µÇ¾ú½À´Ï´Ù.
¿µ±¹ Á¤ºÎ´Â ¿µ±¹ ³óºÎµé°ú »ý»êÀڵ鿡°Ô ½Ä·® Áõ»êÀ» À§ÇØ ÃÖ÷´Ü ·Îº¿ °øÇÐ ¹× ±â¼ú¿¡ ÅõÀÚÇÒ ¼ö ÀÖµµ·Ï ÃÖ´ë 591,220´Þ·¯(500¸¸ ÆÄ¿îµå)ÀÇ ÀÚ±ÝÀ» Áö¿øÇÑ´Ù°í ¿µ±¹ Á¤ºÎÀÇ °ø½Ä ¹ßÇ¥¿¡ µû¸£¸é, ¿µ±¹ Á¤ºÎ´Â ¿µ±¹ ³óºÎµé°ú »ý»êÀڵ鿡°Ô ÃÖ´ë 591,220´Þ·¯(500¸¸ ÆÄ¿îµå)ÀÇ ÀÚ±ÝÀ» Áö¿øÇÕ´Ï´Ù.
Á¤ºÎ º¸Á¶±Ý ¹× Áö¿ø
Á¤ºÎ º¸Á¶±Ý°ú Áö¿øÀº ³óºÎµéÀÌ ³ó¾÷±â°è¸¦ ±¸¸ÅÇÒ ¶§ ÀÚ±Ý Áö¿øÀ» Á¦°øÇÔÀ¸·Î½á ³ó¾÷±â°è ½ÃÀåÀ» °ßÀÎÇÏ´Â µ¥ ¸Å¿ì Áß¿äÇÑ ¿ªÇÒÀ» Çϰí ÀÖ½À´Ï´Ù. ÀÌ·¯ÇÑ º¸Á¶±ÝÀº ³ó°¡ÀÇ °æÁ¦Àû ºÎ´ãÀ» ÁÙÀ̰í Çö´ë½Ä Àåºñ¸¦ º¸´Ù Ä£¼÷Çϰí Àú·ÅÇÏ°Ô »ç¿ëÇÒ ¼ö ÀÖµµ·Ï ÇÏ´Â °ÍÀ» ¸ñÇ¥·Î ÇÕ´Ï´Ù. Á¤ºÎ´Â ÷´Ü ±â¼ú µµÀÔ¿¡ ´ëÇÑ Àμ¾Æ¼ºê¸¦ Á¦°øÇÔÀ¸·Î½á ³ó¾÷ÀÇ È¿À²¼º°ú »ý»ê¼ºÀ» ³ôÀ̰í, ±Ã±ØÀûÀ¸·Î ¼öÈ®·®À» Áõ°¡½ÃÄÑ ½Ä·® ¾Èº¸¿¡ ±â¿©ÇÕ´Ï´Ù. ¶ÇÇÑ, º¸Á¶±ÝÀ» ÅëÇØ ³ëÈÄÈµÈ Àåºñ¸¦ º¸´Ù È¿À²ÀûÀ̰í ģȯ°æÀûÀÎ ´ëüǰÀ¸·Î ±³Ã¼ÇÒ ¼ö ÀÖµµ·Ï Àå·ÁÇÕ´Ï´Ù. ÀÌ·¯ÇÑ Á¤ºÎÀÇ ³ë·ÂÀº °³º° ³ó°¡¿¡ ÇýÅÃÀ» ÁÙ »Ó¸¸ ¾Æ´Ï¶ó ³ó¾÷±â°è »ê¾÷ÀÇ ¼ºÀåÀ» ÃËÁøÇÏ°í ³óÃÌ Áö¿ªÀÇ ±â¼ú Çõ½Å°ú °æÁ¦ ¹ßÀüÀ» ÃËÁøÇÕ´Ï´Ù.
°æÁ¦Àû ¿äÀÎ
¿©·¯ °¡Áö °æÁ¦Àû ¿äÀÎÀÌ ³ó¾÷±â°è ½ÃÀåÀ» ¾ïÁ¦ÇÒ ¼ö ÀÖ½À´Ï´Ù. 1Â÷ ³ó»ê¹° °¡°ÝÀÇ º¯µ¿Àº ³ó°¡ÀÇ ±¸¸Å·Â¿¡ Á÷Á¢ÀûÀÎ ¿µÇâÀ» ¹ÌÃÄ ½Å±Ô ±â°è¿¡ ´ëÇÑ ÅõÀÚ¸¦ Áö¿¬½ÃŰ°Å³ª °¨¼Ò½Ãų ¼ö ÀÖ½À´Ï´Ù. ¶ÇÇÑ ÀÌÀÚÀ²°ú ÀÚ±Ý Á¶´Þ ¹æ¹ýµµ Áß¿äÇÑ ¿ªÇÒÀ» Çϸç, ÀÌÀÚÀ²ÀÌ ³ô¾ÆÁö¸é ³óºÎµéÀº °í°¡ÀÇ ±â°è¸¦ ±¸ÀÔÇϱâ À§ÇØ ºúÀ» ³»´Â °ÍÀ» ÁÖÀúÇÏ°Ô µË´Ï´Ù. °æ±â ħü¿Í ¹«¿ª ºÐÀï°ú °°Àº °Å½Ã °æÁ¦ »óȲÀº ºÒÈ®½Ç¼ºÀ» °¡Á®¿À°í, ³óºÎµéÀº »óȲÀÌ ¾ÈÁ¤µÉ ¶§±îÁö ±â°è ¾÷±×·¹À̵带 ¹Ì·ç°Ô µË´Ï´Ù. ¼öÀÔ °ü¼¼¿Í ¹«¿ª À庮Àº ¼öÀÔ ±â°è ºñ¿ëÀ» ³ô¿© ³ó°¡ÀÇ ¼±ÅñÇÀ» Á¼È÷°í Àüü ºñ¿ëÀ» »ó½Â½Ãų ¼ö ÀÖ½À´Ï´Ù.
Á¤¹Ð ³ó¾÷ ±â¼ú
Á¤¹Ð ³ó¾÷ ±â¼úÀº ³óºÎµéÀÌ ÀÚ¿øÀ» ÃÖÀûÈÇÏ°í ¼öÈ®·®À» ´Ã¸± ¼ö ÀÖ°ÔÇÔÀ¸·Î½á Å« ±âȸ¸¦ Á¦°øÇÕ´Ï´Ù. ÀÌ ±â¼úÀº ¼¾¼, GPS, µ¥ÀÌÅÍ ºÐ¼®À» ÅëÇÕÇÏ¿© ¹°, ºñ·á, ³ó¾à°ú °°Àº ÅõÀÔ¹°À» Á¤È®ÇÏ°Ô °ü¸®ÇÏ¿© È¿À²¼ºÀ» ³ôÀÌ°í ³¶ºñ¸¦ ÁÙÀÏ ¼ö ÀÖ½À´Ï´Ù. ½Ç½Ã°£ µ¥ÀÌÅÍ¿Í °í±Þ ¾Ë°í¸®ÁòÀ» Ȱ¿ëÇÏ¸é ³óºÎµéÀº ƯÁ¤ ÇöÀå Á¶°Ç¿¡ ¸Â´Â Á¤º¸¿¡ ÀÔ°¢ÇÑ ÀÇ»ç°áÁ¤À» ³»¸± ¼ö ÀÖ¾î ÀÛ¹°ÀÇ °Ç°¼º°ú »ý»ê¼ºÀ» Çâ»ó½Ãų ¼ö ÀÖ½À´Ï´Ù. ¶ÇÇÑ, Á¤¹Ð ³ó¾÷ ±â¼úÀº ÀÚµ¿ÈµÈ ±â°è¿Í ·Îº¿ ½Ã½ºÅÛÀ» ÅëÇØ ÀΰǺñ¸¦ Àý°¨Çϰí ÀÛ¾÷ È¿À²À» Çâ»ó½Ãų ¼ö ÀÖ½À´Ï´Ù.
³ó¹ýÀÇ Àüȯ
ÀÚµ¿È, Á¤¹Ð ³ó¾÷, Áö¼Ó°¡´É¼º Ãß±¸ µî ³ó¾÷ °üÇàÀÇ º¯È´Â ÀüÅëÀûÀÎ ³ó¾÷±â°è ½ÃÀå¿¡ À§ÇùÀÌ µÇ°í ÀÖ½À´Ï´Ù. ³óºÎµéÀÌ µå·Ð, GPS À¯µµ ±â°è, AI ±â¹Ý ºÐ¼®°ú °°Àº ÷´Ü ±â¼úÀ» äÅÃÇÔ¿¡ µû¶ó ±âÁ¸ Àåºñ¿¡ ´ëÇÑ ¼ö¿ä°¡ °¨¼ÒÇϰí ÀÖ½À´Ï´Ù. ¶ÇÇÑ, Áö¼Ó°¡´É¼º¿¡ ´ëÇÑ °ü½ÉÀÌ ³ô¾ÆÁö¸é¼ ģȯ°æ ±â°è¿¡ ´ëÇÑ ¿ä±¸°¡ Áõ°¡Çϰí ÀÖÀ¸¸ç, ÀÌ´Â ±âÁ¸ ¸ðµ¨°ú ÀÏÄ¡ÇÏÁö ¾ÊÀ» ¼ö ÀÖ½À´Ï´Ù. °á°úÀûÀ¸·Î ³ó¾÷±â°è ½ÃÀåÀÇ Á¦Á¶¾÷üµéÀº ÀÌ·¯ÇÑ Æ®·»µå º¯È¿¡ ÀûÀÀÇØ¾ß ÇÏ´Â °úÁ¦¿¡ Á÷¸éÇÏ°Ô µÇ°í, °ü·Ã¼ºÀ» À¯ÁöÇϱâ À§ÇØ ¿¬±¸°³¹ß¿¡ ÅõÀÚÇØ¾ß ÇÒ ¼öµµ ÀÖ½À´Ï´Ù.
Ãʱ⿡´Â °ø±Þ¸ÁÀÇ È¥¶õÀ¸·Î ÀÎÇØ ³ó¾÷±â°è »ý»ê°ú ³³Ç°ÀÌ Áö¿¬µÇ¾ú½À´Ï´Ù. ³óºÎµéÀº °æÁ¦Àû ºÒ¾È¿¡ Á÷¸éÇÏ¿© ±â°è ±¸¸Å¸¦ ¿¬±âÇϰųª ±Ô¸ð¸¦ Ãà¼ÒÇß½À´Ï´Ù. ±×·¯³ª ÆÒµ¥¹ÍÀÌ ÁøÇàµÇ¸é¼ ½Ä·® »ý»êÀÌ ¿ì¼±¼øÀ§°¡ µÇ¸é¼ ³ó¾÷±â°è¿¡ ´ëÇÑ ¼ö¿ä°¡ ±ÞÁõÇß½À´Ï´Ù. ƯÈ÷ Æ®·¢ÅÍ¿Í ¼öÈ®±â¿Í °°Àº Çʼö ±â°è·ùÀÇ ÆÇ¸Å°¡ ȸº¹µÇ¾ú½À´Ï´Ù. ¶ÇÇÑ, ³ó¾÷ ÀÛ¾÷¿¡¼ Àΰ£ÀÇ °³ÀÔÀ» ÃÖ¼ÒÈÇϰí È¿À²¼ºÀ» ³ôÀ̱â À§ÇØ ÀÚÀ² ¹× IoT Áö¿ø Àåºñ¿¡ ´ëÇÑ °ü½ÉÀÌ Áõ°¡Çϰí ÀÖ½À´Ï´Ù.
ÆÄÀÌÇÁ ºÐ¾ß´Â ¿¹Ãø ±â°£ µ¿¾È °¡Àå Å« ºÐ¾ß°¡ µÉ °ÍÀ¸·Î ¿¹»ó
ÆÄÀÌÇÁ ºÐ¾ß´Â ³ó¾÷ÀÇ ±â°èȰ¡ ÁøÇàµÇ¸é¼ ¹ç Àüü¿¡ ¹°À» È¿À²ÀûÀ¸·Î ¿î¹ÝÇÒ ¼ö ÀÖ´Â ÆÄÀÌÇÁÀÇ Çʿ伺ÀÌ Áõ°¡ÇÔ¿¡ µû¶ó ÃÖ±Ù ¸î ³â µ¿¾È Å« ¼ºÀå¼¼¸¦ º¸À̰í ÀÖ½À´Ï´Ù. ¶ÇÇÑ ³»±¸¼ºÀÌ ¶Ù¾î³ ¼ÒÀçÀÇ °³¹ß, °ü°³ ¹æ¹ýÀÇ °³¼± µî ÆÄÀÌÇÁ ±â¼úÀÇ ¹ßÀüÀº ½ÃÀå ¼ºÀåÀ» ´õ¿í ÃËÁøÇϰí ÀÖ½À´Ï´Ù. ¹° º¸Á¸°ú Áö¼Ó°¡´ÉÇÑ ³ó¹ýÀ» Àå·ÁÇÏ´Â Á¤ºÎÀÇ ³ë·ÂÀº ³óºÎµéÀÌ Çö´ë½Ä °ü°³ ½Ã½ºÅÛ¿¡ ÅõÀÚÇϵµ·Ï Àå·ÁÇÏ¿© ÆÄÀÌÇÁ¿¡ ´ëÇÑ ¼ö¿ä¸¦ ÃËÁøÇϰí ÀÖ½À´Ï´Ù. ¶ÇÇÑ, ½ÅÈï±¹ÀÇ ³ó¾÷ Ȱµ¿ È®´ë¿Í Á¤¹Ð ³ó¾÷ ±â¼úÀÇ Ã¤ÅÃÀº ³ó¾÷±â°è ½ÃÀåÀÇ ÆÄÀÌÇÁ ºÐ¾ß È®´ë¿¡ ±â¿©Çϰí ÀÖ½À´Ï´Ù.
º¹ÇÕ ¼öÈ®±â ºÐ¾ß´Â ¿¹Ãø ±â°£ µ¿¾È °¡Àå ³ôÀº CAGRÀ» ±â·ÏÇÒ °ÍÀ¸·Î ¿¹»ó
ÄÞ¹ÙÀÎ ¼öÈ®±â ºÎ¹®Àº ¼öÈ®, Å»°î, û¼Ò µî ¿©·¯ ÀÛ¾÷À» ÇÑ ¹ø¿¡ ó¸®ÇÒ ¼ö ÀÖ´Â ±â°èÀÇ ´É·Â Çâ»óÀ¸·Î ÀÎÇØ Å©°Ô ¼ºÀåÇϰí ÀÖ½À´Ï´Ù. ±â¼úÀÇ ¹ßÀüÀ¸·Î ´õ¿í Á¤±³ÇÏ°í °í¼º´ÉÀÇ ÄÞ¹ÙÀÎ ¼öÈ®±â°¡ °³¹ßµÇ¾î ÀÛ¾÷À» ÃÖÀûÈÇϰíÀÚ ÇÏ´Â ³óºÎµéÀ» ¸Å·á½Ã۰í ÀÖ½À´Ï´Ù. ³óÁö°¡ ´ë±Ô¸ð ³óÁö·Î ÅëÇÕµÇ¸é¼ ³ÐÀº ¸éÀûÀ» È¿À²ÀûÀ¸·Î ´Ù·ê ¼ö ÀÖ´Â ´õ Å©°í °·ÂÇÑ ÄÞ¹ÙÀο¡ ´ëÇÑ ¼ö¿ä°¡ Áõ°¡Çϰí ÀÖ½À´Ï´Ù. ¶ÇÇÑ, Á¤¹Ð ³ó¾÷ ±â¼úÀÇ Ã¤ÅÃÀÌ È®´ëµÇ¸é¼ GPS À¯µµ ³»ºñ°ÔÀÌ¼Ç ¹× ¼öÈ®·® ¸ð´ÏÅ͸µ ½Ã½ºÅÛ°ú °°Àº ÷´Ü ±â´ÉÀ» ÄÞ¹ÙÀο¡ ÅëÇÕÇÏ´Â Ãß¼¼¿¡ ¹ÚÂ÷¸¦ °¡Çϰí ÀÖ½À´Ï´Ù.
ºÏ¹Ì ³ó¾÷±â°è ½ÃÀåÀº ±â¼ú ¹ßÀü°ú °íÈ¿À² ³ó¾÷±â°è¿¡ ´ëÇÑ ¼ö¿ä·Î ÀÎÇØ ²ÙÁØÈ÷ ¼ºÀåÇϰí ÀÖ½À´Ï´Ù. Á¤ºÎ º¸Á¶±Ý, À¯¸®ÇÑ ³ó¾÷ Á¤Ã¥, Á¤¹Ð ³ó¾÷ ±â¼ú äÅà µîÀÇ ¿äÀÎÀÌ ½ÃÀå È®´ë¿¡ ±â¿©Çϰí ÀÖ½À´Ï´Ù. ÀÌ Áö¿ªÀÇ ´ë±Ô¸ð ³ó¾÷Àº Çö´ëÀûÀ̰í È¿À²ÀûÀÎ ±â°è¸¦ ÇÊ¿ä·Î Çϰí ÀÖÀ¸¸ç, ÀÌ´Â ½ÃÀå ¼ºÀåÀ» ´õ¿í ÃËÁøÇϰí ÀÖ½À´Ï´Ù. ¶ÇÇÑ, Áö¼Ó°¡´ÉÇÑ ³ó¾÷¿¡ ´ëÇÑ ÀνÄÀÌ ³ô¾ÆÁö¸é¼ ȯ°æ Ä£ÈÀûÀÎ ÀåºñÀÇ Ã¤ÅÃÀ¸·Î À̾îÁ® ½ÃÀå ¼ºÀåÀ» ´õ¿í ÃËÁøÇϰí ÀÖ½À´Ï´Ù.
¾Æ½Ã¾ÆÅÂÆò¾çÀº Àα¸ Áõ°¡¿¡ µû¸¥ ³ó»ê¹° ¼ö¿ä Áõ°¡·Î ÀÎÇØ ³ó»ê¹°ÀÇ »ý»ê¼ºÀ» ³ôÀ̱â À§ÇÑ Ã·´Ü ³ó¾÷±â°èÀÇ Çʿ伺ÀÌ ³ô¾ÆÁö¸é¼ °ý¸ñÇÒ ¸¸ÇÑ ¼ºÀåÀ» ÀÌ·ç°í ÀÖ½À´Ï´Ù. ³ó¾÷ °üÇàÀ» Çö´ëÈÇÏ°í ½Ä·® ¾Èº¸¸¦ Çâ»ó½ÃŰ·Á´Â Á¤ºÎÀÇ ³ë·ÂÀº ³ó¾÷ ±â°è¿¡ ´ëÇÑ ÅõÀÚ¸¦ ÃËÁøÇϰí ÀÖ½À´Ï´Ù. Á¤¹Ð ³ó¾÷°ú ÀÚµ¿È µîÀÇ ±â¼ú ¹ßÀüÀº ÀÌ Áö¿ª¿¡¼ Çö´ë½Ä ³ó¾÷±â°èÀÇ µµÀÔÀ» È®´ëÇÏ´Â µ¥ ±â¿©Çß½À´Ï´Ù. ¶ÇÇÑ, ³ó°¡ÀÇ °¡Ã³ºÐ ¼ÒµæÀÌ Áõ°¡ÇÔ¿¡ µû¶ó È¿À²¼º°ú ¼öÈ®·®À» Çâ»ó½Ã۱â À§ÇØ °íǰÁú Àåºñ¿¡ ÅõÀÚÇÒ ¼ö ÀÖ°Ô µÇ¾ú½À´Ï´Ù.
According to Stratistics MRC, the Global Farm Equipment Market is accounted for $107.70 billion in 2023 and is expected to reach $170.70 billion by 2030 growing at a CAGR of 6.80% during the forecast period. Farm equipment refers to machinery, tools, and vehicles utilized in agricultural activities to enhance efficiency and productivity. These devices are designed to perform various tasks, such as planting, harvesting, cultivating, irrigation, and livestock management. Common examples include tractors, plows, seeders, combine harvesters, and balers. Modern farm equipment often incorporates advanced technologies like GPS, sensors, and automation to optimize operations and reduce labor requirements. The evolution of farm equipment has revolutionized farming practices, enabling farmers to accomplish tasks more effectively and sustainably.
According to the Government of UK official handle, the UK government is offering farmers and growers in England up to $591,220 (£500,000) in funding to invest in cutting-edge robotics and technology to increase food output.
Government subsidies and support
Government subsidies and support play a pivotal role in driving the farm equipment market by providing financial assistance to farmers for purchasing machinery. These subsidies aim to alleviate the financial burden on farmers, making modern equipment more accessible and affordable. By incentivizing the adoption of advanced technology, governments promote efficiency and productivity in agriculture, which ultimately boosts yields and contributes to food security. Additionally, subsidies encourage the replacement of outdated equipment with more efficient and environmentally friendly alternatives. Such government initiatives not only benefit individual farmers but also stimulate growth in the agricultural machinery industry, driving innovation and economic development in rural areas.
Economic factors
Several economic factors can restrain the farm equipment market. Fluctuations in commodity prices can directly impact farmers' purchasing power, leading to delayed or reduced investments in new equipment. Interest rates and financing options also play a significant role, as higher rates can deter farmers from taking on debt to purchase expensive machinery. Macroeconomic conditions such as recessions or trade disputes can create uncertainty, prompting farmers to postpone equipment upgrades until conditions stabilize. Import tariffs and trade barriers can raise the cost of imported machinery, limiting options for farmers and increasing overall costs.
Precision agriculture technology
Precision agriculture technology presents a significant opportunity by enabling farmers to optimize their resources and increase yields. This technology integrates sensors, GPS, and data analytics to precisely manage inputs such as water, fertilizers, and pesticides, leading to enhanced efficiency and reduced waste. By leveraging real-time data and advanced algorithms, farmers can make informed decisions tailored to specific field conditions, resulting in improved crop health and productivity. Additionally, precision agriculture technology enables automated machinery and robotic systems, reducing labor costs and increasing operational efficiency.
Shifts in farming practices
Shifts in farming practices, such as increased automation, precision agriculture, and sustainability initiatives, pose a threat to the traditional farm equipment market. As farmers adopt advanced technologies like drones, GPS-guided machinery, and AI-driven analytics, there's a decreased demand for conventional equipment. Moreover, the focus on sustainability drives the need for eco-friendly machinery, which may not align with older models. Consequently, manufacturers in the farm equipment market face challenges in adapting to these changing trends and may need to invest in research and development to stay relevant.
Initially, disruptions in supply chains led to delays in the manufacturing and delivery of agricultural machinery. Farmers faced financial uncertainties, causing them to postpone or scale back equipment purchases. However, as the pandemic progressed, there was a surge in demand for farm equipment as food production became a priority. This led to a rebound in sales, particularly for essential machinery like tractors and harvesters. Additionally, there has been a growing interest in autonomous and IoT-enabled equipment to minimize human interaction and enhance efficiency in agricultural operations.
The pipe segment is expected to be the largest during the forecast period
The pipe segment has witnessed significant growth in recent years due to increasing mechanization in agriculture, driving the need for pipes to transport water efficiently across fields. Moreover, advancements in pipe technology, such as the development of durable materials and improved irrigation methods, have further boosted market growth. Government initiatives promoting water conservation and sustainable farming practices have encouraged farmers to invest in modern irrigation systems, fueling the demand for pipes. Furthermore, expanding agricultural activities in emerging economies and the adoption of precision farming techniques have contributed to the expansion of the pipe segment within the farm equipment market.
The combine harvester segment is expected to have the highest CAGR during the forecast period
The Combine Harvester segment has experienced significant growth due to increasing machinery abilities to perform multiple tasks like harvesting, threshing, and cleaning in a single operation. Advancements in technology have led to the development of more sophisticated and high-performance combine harvesters, attracting farmers looking to optimize their operations. The consolidation of farmland into larger holdings has fuelled demand for larger and more powerful combine harvesters capable of covering vast acreages efficiently. Furthermore, the growing adoption of precision farming techniques has spurred the integration of advanced features such as GPS-guided navigation and yield monitoring systems in combine harvesters.
The farm equipment market in North America has experienced steady growth due to technological advancements and the need for higher efficiency equipments. Factors such as government subsidies, favourable agricultural policies, and the adoption of precision farming techniques have contributed to market expansion. The region's large-scale farming operations necessitate modern and efficient machinery, further boosting market growth. Additionally, rising awareness regarding sustainable farming practices has led to the adoption of environmentally friendly equipment, driving market growth even further.
The Asia-Pacific region has experienced significant growth due to population growth that have increased the demand for agricultural products, driving the need for advanced farming machinery to boost productivity. Government initiatives aimed at modernizing agricultural practices and improving food security have spurred investment in farm equipment. The advancements in technology, such as precision farming and automation, have led to increased adoption of modern farming machinery in the region. Additionally, rising disposable incomes among farmers have enabled them to invest in high-quality equipment to enhance efficiency and yields.
Key players in the market
Some of the key players in Farm Equipment market include AGCO Corporation , Alamo Group Inc, CLAAS KGaA mbH, GEA Group , ISEKI & Co. Ltd, J.C. Bamford Excavators Ltd, Krone Gruppe, Kubota Corporation, Kuhn Group S.A., Lovol Heavy Industry Co. Ltd, Mahindra & Mahindra Limited, McCormick Tractors International Ltd, SDF Group, Valmont Industries Inc and Yanmar Co. Ltd.
In January 2024, Kubota unveils concept electric tractor at CES 2024. A PROTOTYPE electric tractor set to hit the market in 2030 was revealed by Kubota North America Corporation at CES 2024. The program covers a raft of sectors, agriculture included, that look at how the next generation of equipment will integrate artificial intelligence, automation, and electrification.
In November 2023, AGCO signed an agreement to acquire digital assets from FarmFacts GmbH, a leader in Farm Management Information Software (FMIS) located in Pfarrkirchen, Germany. The acquisition increases AGCO's FMIS offering and software development capabilities to serve farmers' data management needs.