Soil Aerators Market Worth 33.01 Billion USD by 2023
PUNE, India, April 3, 2018 /PRNewswire/ --
The report "Soil Aerators Market by Equipment Type (Secondary Tillage, Primary Tillage, Weeding, Soil Aerating), Application (Agriculture, Non-Agriculture), Mechanism (Mechanical, Pneumatic), Mode of Operation (Mounted, Trailed), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to be valued at USD 24.03 Billion in 2018 and is projected to reach USD 33.01 Billion by 2023, at a CAGR of 6.6%. The market is driven by the global increase in mechanization in farming, shrinking arable land, growth in net farming income, and rapid increase in commercial and residential space, leading to the growing demand for landscaping.
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Browse 73 market data Tables and 40 Figures spread through 143 Pages and in-depth TOC on "Soil Aerators Market"
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Secondary tillage is estimated to be the largest in 2018
The soil aerators market, by equipment, is estimated to be dominated by the secondary tillage. The demand for this segment comes primarily from the agricultural industry. There are various kinds of secondary tillage equipment, namely, harrows, cultivators, and rollers & pulverizers, which are used to decompact soil efficiently in a lesser time. Government initiatives in the agricultural industry in order to achieve accurate yield to feed the increasing population is the most influential driver for the largest market share of this segment in the soil aerators market.
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Agriculture segment set to dominate the market by 2023
The soil aerators market, by application, is projected to be dominated by the agriculture segment during the forecast period. The dominance of agriculture in soil aerators is attributable to the increase in large-scale holdings of farmers in most developed countries and an increasing trend of farm mechanization in developing countries. The rapid increase in population growth and increasing demand for food, with shrinking arable land, are expected to drive the Soil Aerators Market growth.
Mounted segment is projected to be the fastest-growing during the forecast period
The mounted segment is estimated to dominate the mode of operation segment for soil aerators in 2018 and is also projected to be the fastest-growing from 2018 to 2023. Low turnaround time, higher accuracy, availability of large land holdings for cultivation, specifically in North America and Europe are the factors driving the market for the mounted mode of operation.
Asia Pacific is projected to be the fastest-growing market during the forecast period
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. Major growth drivers of the region include the adoption of smart, mechanized aerators owing to technological advancements in countries such as India, China, and Japan. In addition, factors such as an increase in footfall, overgrazing by livestock, the pressure exerted by heavy equipment, climatic conditions, strong government support through subsidies, and increased productivity requirements also drive the Soil Aerators Market in the region.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading service companies such as Deere & Company (US), Mahindra and Mahindra (India), Bucher Industries (Switzerland), CNH Industrial (UK), ALAMO (US), and AGCO Corporation (US).
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