The Business Research Company’s Farm Machinery And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 18, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
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The integration of Internet of Things (IoT) applications in farm equipment is expected to drive the global agriculture equipment market. The world's population will surpass 9 billion people by 2050. Farmers need access to better instruments and practices that will help them to deliver more agricultural products in less time. Farmers need to adopt new and modern technologies to produce food for the ever-expanding population. For instance, the utilization of a smart greenhouse which operates with the help of IoT enables to monitor and control climate without human intervention. The IoT sensors in the smart greenhouse provide information on the light levels, pressure, humidity, and temperature and also control the actuators automatically to open a window, turn on lights, control a heater, turn on a mister, or turn on a fan. In this way, IoT helps increases production with reduced labor and drives the agricultural machinery market.
The global farm machinery and equipment market is expected to grow from $183.85 billion in 2020 to $201.83 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The farm equipment market size is expected to reach $276.85 billion in 2025 at a CAGR of 8.2%.
The major players in the global agricultural machinery industry are AGCO Coporation, CLAAS KGaA mbH, CNH Industrial N.V., Escorts Group, ISEKI & Co. Ltd., John Deere (Deere & Company), Kubota Corporation, Mahindra & Mahindra Limited, Same Deutz-Fahr Group S.p.A. (SDF), Valmont Industries Inc., China National Machinery Industry Corporation, Amazone Ltd., APV-Technischne Produkte GmbH, Bellota, Horsch Maschinen GmbH, J.C. Bamford Excavators Ltd., Klever, Kongskilde, Krukowiak Pvt. Ltd., Kuhn Group S.A., Kverneland A.S., Lemken, Mascar S.p.A., Maschio Gaspardo S.P.A, MaterMacc S.p.A., Morris Industries Ltd, Rostselmash, Morris Industries Ltd, Rostselmash.
Farm Machinery And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides farm machinery and equipment market overview, forecast farm machinery and equipment market size and growth for the whole market, farm machinery and equipment market segments, and geographies, farm machinery and equipment market trends, farm machinery and equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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