Various Government Plans Enable the Global Agriculture Equipment Market to Reach Around USD 150 in 2021: Ken Research
Increasing Awareness Regarding Equipment Benefits and Favorable Government Policies Collectively Strengthening Global Agriculture Equipment Market; collectively helping the market to cross USD 250 Bn mark by 2027, says a report by Ken Research.
1. How technology may address challenges in agriculture? Increasing awareness of machinery benefits amongst farmers boosts the global farming machinery industry.
Technological Incorporation in Agriculture: Click to know more
Agriculture causes about 20% of human-caused greenhouse gas emissions and uses up to almost 90% of the world’s freshwater. Around 40% of food grown goes unfed. China loses roughly 35 million tons of grain before retail each year, or about 5% of the 700 Mn tons of grain produced in 2021. Human ingenuity, scientific breakthroughs and technological advances have given the world an unprecedented array of tools to transform the food system and mitigate its impact on nature and climate. Five of every six farms in the world are smaller than two hectares (the size of about three soccer fields) and collectively they produce a third of the world’s food. Whereas China, smallholder farmers account for as high as 80% of food production.
As a primary sector that employs millions of people directly and throughout the supply chain, agriculture has lagged behind many other sectors in digitalization and application of digital technology. Fortunately, however, it is not too late to buckle up, but the sector needs more investment, more new ideas and more involvement.
2. International Governmental Initiatives for AI in Agriculture; Giving Boosts to the Technological Incorporation in the Farming Worldwide.
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A rising number of international organizations, governments, non-governmental organizations, and non-profits are focusing on data-driven agriculture programmes. Their efforts include teaching, facilities, grants, and financing, as well as open data and data gathering infrastructures. Data gathering infrastructures are critical since they serve as the foundation for substantial AI advances in agriculture. Examples include FAO, GARDIAN, CIMMYT, USDA, and GODAN.
3. Global Food Demand has been Rising; Ultimately, Shifting the Farming Machinery Market at an advantageous Situation.
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Agricultural practices are and will be shifting toward an efficient data driven industry for an obvious reason; the global food demand is increasing drastically. The world population by 2050 is expected to be almost 10 bn, and the world food demand is expected to increase by around 55%-95% between 2005 and 2050. Crop yield around the world is estimated to be affected adversely by climate change. The demand for more food is to be addressed by adopting technologies in Agri-business that improve efficiency in sustainable and climate friendly manners. Wide spread adoption of precision agriculture is the most effective approach to improve yield and save on costs with minimal environmental footprints. This current transformation opens up doors for farmers and growers to adopt AI and data driven practices for an obvious reason, expected to gain momentum in the near future.
Major Players
- AGCO Corporation
- FlieglAgro-Center GmbH
- Agromaster
- Amazone Inc.
- APV GmbH
- Bellota Agrisolutions
- CLAAS KGaAmbH
- CNH Industrial N.V.
- Deere & Company
- Escorts Limited
- HORSCH Maschinen GmbH
- ISEKI & Co., Ltd.
- J C Bamford Excavators Ltd
- Quivogne CEE GmbH (Kiwon RUS LLC)
- Rostselmash
- KRUKOWIAK
- KUBOTA Corporation
- KUHN SAS
- LEMKEN GmbH & Co. KG
- Mahindra & Mahindra Ltd.
- MascarSpA
- MaschioGaspardo S.p.A
- MaterMacc S.p.A
- Morris Equipment Ltd
- SDF S.p.A.
- Tractors and Farm Equipment Limited (TAFE)
- Väderstad AB
- Valmont Industries, Inc
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Farm Machinery Providers
- Agriculture Equipment Distributors
- Agriculture Equipment Manufacturers
- Government Bodies & Regulating Authorities
- Existing Farm Services providers
- New Market Entrants
- Investors
Time Period Captured in the Report
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027
For More Insights On Market Intelligence, Refer To The Link Below: –
Global Agriculture Equipment Market
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