The Agricultural Machinery Market in the UK is to grow by USD 568.16 million from 2022 to 2027 | The growing popularity of agriculture machinery rentals to boost the market- Technavio

NEW YORK, Aug. 31, 2023 /PRNewswire/ -- The agricultural machinery market in UK is estimated to grow by USD 568.16 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  3.71% during the forecast period. The growing popularity of agriculture machinery rentals is a key factor driving market growth. The rapid development in characteristics of certain agricultural machinery is due to the emergence of several technologies. In the UK, machine leasing has become a cost-effective solution for farmers with limited capital as it allows farmers to use the latest high-tech machinery without significant investment. In addition, the improved efficiency, accuracy, and productivity brought about by modern equipment are some of the key benefits of machine leasing. Hence, these factors are expected to drive market growth during the forecast period. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Agricultural Machinery Market In UK - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (land development and seedbed preparation, sowing and planting, harvesting and threshing, and Others), and type (tractors, harvesting machinery, haying machinery, planting and fertilizing machinery, and Others). 

• The land development and seedbed preparation segment is estimated to witness significant growth during the forecast period. The main steps involved in landscape and seedbed preparation include preparing the soil to create an optimal environment for seed germination, root development, and plant growth. In addition, some of the applications of these machines include clearing vegetation, leveling, and preparing soil for planting. Hence, these factors are expected to drive segment growth during the forecast period.

Insights on the market contribution of various segments, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Agricultural Machinery Market In UK – Market Dynamics

Major Trend - The technological advancements in agricultural machinery is a major trend in the market. Improved equipment performance, connectivity, automation, and data integration are some of the key technological developments in the agricultural machinery market. The demand for these machines is growing among farmers due to these advanced technologies as they help increase productivity, apply accurate inputs, make data-driven decisions, and improve overall farm management. In addition, these technologies improve operational efficiency, reduce human error, and enable 24/7 operation. Hence, the increasing technological advancements are expected to drive market growth during the forecast period.

Significant Challenge

Cost and maintenance are one of the significant challenges restricting market growth. The cost of producing agricultural machinery increases as these machines become more complex and incorporate advanced technologies such as GPS, telecommunications, robotics, and data analytics. In addition, some high-quality materials are used in production that ensure durability and longevity, which adds to the cost. Costs incurred during R&D such as testing, prototyping, and screening are usually included in the price of these machines. Hence, the cost and maintenance are expected to restrict market growth during the forecast period.

Insights on Market Drivers, trends, and challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Agricultural Machinery Market In UK report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the agricultural machinery market in UK between 2023 and 2027
• Precise estimation of the size of the agricultural machinery market in UK and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the agricultural machinery market in UK 
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of the agricultural machinery market in UK companies

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio