Global Tiller Machines Market to Reach $3.1 Billion by 2026

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Jun 02, 2021, 11:45 ET

SAN FRANCISCO, June 2, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Tiller Machines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Engagements: 1530
Companies: 40 - Players covered include AGCO Corporation; Bucher Industries AG; Claas KGaA mbH; CNH Industrial NV; Deere & Company; Eurometal MIO; Exel Industries; Iseki & Co., Ltd.; Kubota Corporation; Kuhn North America Inc.; Mahindra & Mahindra Ltd.; SDF SpA; Sharp Garuda Farm Equipments Pvt. Ltd.; Tractors and Farm Equipment Limited; YANMAR Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Front Tine, Rear Tine, Mini-Cultivators); Tilling Width (9 Inches, 14 Inches, 15 Inches, 16 to 36 Inches); Power Capacity (Under 25 HP, 25 to 40 HP, 40 to 60 HP, 60 to 80 HP); Mechanism Type (Hydraulic, Electric)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Tiller Machines Market to Reach $3.1 Billion by 2026

Tiller machine is a commonly used agriculture and gardening equipment, finding use in soil cultivation and tillage. Demand for tiller machines is driven by the rising popularity of outdoor activities, such as preparing flower beds and for preparing vegetable gardens for planting. Growing importance of gardening as a recreational activity or hobby, zeal to develop gardens in homes, as well as the desire to enhance aesthetics through beautiful and properly maintained lawns and gardens continue to support the purchase of tillers. Rise in housing construction projects and remodeling further boosts growth prospects for tiller machines. Soaring demand for farm-produced commodities from growing global population and subsequently mounting pressure to augment farming operations and efficiency is placing spotlight on agricultural machinery, including tiller machines.

Amid the COVID-19 crisis, the global market for Tiller Machines estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 3.5% over the analysis period. Front Tine, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$1.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rear Tine segment is readjusted to a revised 3.4% CAGR for the next 7-year period. This segment currently accounts for a 34.7% share of the global Tiller Machines market. Front Tine tillers are light-duty machines with tines or blades located at the front of the machine, are usually larger and more robust than cultivators. Offering an affordable, all-purpose option, Front Tine tillers can be maneuvered conveniently and flexibly in small and medium farms as well as gardens. Rear Tine tillers represent the most powerful option in the tiller machine domain. Rear Tine tillers are usually designed with large wheels with tines placed on the back of the machine. The tillers are used on tough soil.

The U.S. Market is Estimated at $701.5 Million in 2021, While China is Forecast to Reach $608.1 Million by 2026
The Tiller Machines market in the U.S. is estimated at US$701.5 Million in the year 2021. The country currently accounts for a 27% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$608.1 Million in the year 2026 trailing a CAGR of 5.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR while Rest of European market (as defined in the study) will reach US$514.6 Million by the end of the analysis period. Being the frontrunners in the uptake of agricultural machinery, developed regions have driven growth in tiller machines market over the years. Increasing emphasis on gardening, rising number of landscaping establishments, and growing number of existing single family homes and new private residential units are expected to drive the tillers market in the US and other developed regions. Demand in the emerging markets is expected to be driven by rapid development in construction (both residential and non-residential) sector and increasing income levels. Urbanization is largely responsible for the mushrooming of green spaces, public parks and eco-friendly zones in developing nations. In addition, rising disposable income level and the growing influence of Western culture is expected to drive the trend towards gardening in developing countries, fueling the demand for outdoor power equipment and power tools.

Mini-Cultivators Segment to Reach $679.1 Million by 2026
A mini-cultivator represents a smaller version of a front tine tiller, and are meant for small gardens of less than 20 square feet. They are lighter and easier to move. Mini-cultivators are used for soil blending. In the global Mini-Cultivators segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$434.8 Million in the year 2020 will reach a projected size of US$521.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$86.8 Million by the year 2026, while Latin America will expand at a 2.9% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.