Planting Equipment Market size is set to grow by USD 6.61 billion from 2024-2028, Growing government support for agricultural practices globally to boost the market growth, Technavio

NEW YORK, June 4, 2024 /PRNewswire/ -- The global planting equipment market size is estimated to grow by USD 6.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.19% during the forecast period.

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Key Market Trends Fueling Growth

Vendors in the global planting equipment market are broadening their offerings and expanding geographically through acquisitions and partnerships. For example, AGCO Corporation acquired 85% of Trimble Inc. for USD2 billion in September 2023, and Plant and Equipment bought Global Equipment Trading in UAE in January 2024. These deals enhance vendors' product lines, provide competitive advantages, and expand customer bases, leading to market growth during the forecast period. 

The Planting Equipment market is experiencing significant growth due to the increasing demand for agricultural productivity. Farming equipment such as planters and cultivators are in high demand. Advanced technology in planting equipment like precision farming and automation are trending. These technologies increase efficiency and reduce the need for manual labor.

Additionally, the use of conventional and modern planting methods like no-till and minimum tillage is gaining popularity. The market is also driven by the need for sustainable farming practices and the availability of government subsidies for farmers investing in new planting equipment. Overall, the Planting Equipment market is expected to continue its growth trajectory in the coming years. 

Market Challenges

• The global planting equipment market faces challenges due to the decreasing availability of arable land. Industrialization, urbanization, and energy demand have led to soil degradation, causing three million hectares of land to become unusable annually. This reduction in agricultural land negatively impacts production and limits the use of planting equipment, potentially hindering market growth.
• The planting equipment market faces several challenges in the current technological landscape. One major challenge is the need for automation and precision in farming. Farmers require advanced technology to plant seeds at the correct depth and spacing. Another challenge is the high cost of purchasing and maintaining these advanced machines. Additionally, the market is highly competitive, with numerous players offering similar products.
• Furthermore, the market is subject to various environmental factors, such as soil conditions and weather, which can impact the performance and efficiency of the equipment. Lastly, the market is also influenced by government regulations and policies, which can impact the pricing and availability of planting equipment.

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Segment Overview 

1. Type 
• 1.1 Mechanical
• 1.2 Automatic
2. Product 
• 2.1 Seed drills
• 2.2 Planters
• 2.3 Air seeders
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Mechanical- The planting equipment market is experiencing significant growth due to increasing farmer investments, encouraged by government interest schemes. Contract farming and mechanization of agriculture are key drivers, along with rising farmer incomes and favorable climatic conditions. Advanced agricultural robotics, such as autonomous tractors and drones, offer cost-effective food production and expand opportunities for the mechanical segment. Government loan concessions support market growth across all income categories.

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Research Analysis

The Planting Equipment Market encompasses a wide range of modern farm machinery designed for various planting techniques in the agriculture industry. This market includes advanced seed drillers, seed metres, fluted rollers, and furrow openers, which facilitate efficient and precise sowing and planting in designated rows. The use of cutting-edge planting tools has revolutionized farming tasks, reducing the reliance on physical labour and traditional ways such as hand sowing.

Machining centres play a crucial role in the manufacturing process of these planting machines, ensuring their high-quality and durability. The seeds are carefully placed during the seeding process, ensuring optimal growth in the field. The farming industry continues to benefit from these advancements in planting equipment, streamlining operations and increasing productivity.

Market Research Overview

The Planting Equipment Market encompasses a range of machinery and tools utilized in the process of planting crops. These include seed drills, planters, transplanters, and other related equipment. The market is driven by various factors such as increasing agricultural productivity, technological advancements, and government initiatives to promote mechanized farming.

The market is segmented based on equipment type, application, and region. Seed drills and planters are the most commonly used planting equipment. Technological innovations in precision farming and automation are expected to drive the growth of the market. The market is also witnessing a trend towards the adoption of sustainable and eco-friendly planting equipment. Overall, the Planting Equipment Market is poised for significant growth in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Mechanical
• Automatic
• Product
• Seed Drills
• Planters
• Air Seeders
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio