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Powered Agriculture Equipment Market Analysis, Industry Report and Forecast 2020-2025

Author: Bis Rsrch
by Bis Rsrch
Posted: Oct 09, 2020
agriculture equipmen

The global powered agricultural industry has witnessed a massive transformation owing to the increasing demand for efficient powered agriculture equipment. Rising world population and the subsequent rise in global food demand, along with the shrinkage of agricultural workforce, have resulted in growing concerns to enhance farm yield and increase the demand for farm mechanization across the world. With the rapid implementation of powered agriculture equipment, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises. The advent of innovative equipment has resulted in reduced energy consumption and overall cost-effective operations owing to their more precise and resource-efficient approach. As a result, the powered agriculture equipment industry is anticipated to progress due to the ever-growing affinity for more convenient and smart farming solutions than the traditional methods.

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Moreover, the powered agriculture equipment industry is playing a critical role as a bridge in the food value chain, providing necessary equipment and maintenance support. But, during the COVID-19 outbreak, many manufacturing plants were not 100% operative; hence the industry has reworked on strategy, innovation, and technologies, such as globalization to localization, rental business, after-sales support using augmented reality (AR), and smart manufacturing.

The market research study offers a wide perspective of the different types of powered agriculture equipment and analyzes its impact on the agriculture sector by providing critical insights during the COVID-19 outbreak on industry and direction of future industry expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

Agricultural efficiency across the globe has been significantly increasing since the last two decades. With the exponential growth of the global population, the subsequent increase in global food demand, shrinking agriculture lands, and depletion of limited natural resources, the need to improve agricultural yield has become critical. The rise in the urban population in developing countries, with the improvement of quality of living due to high-income levels and the demand for fresh farm produce and animal protein, is bolstering the demand for crop production. Finite presence of natural resources, such as arable land and fresh water, along with falling farm yield trends in many crop categories, have encouraged the growers and agricultural companies to introduce innovative and advanced agriculture equipment to boost farm profitability.

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The farming industry has witnessed numerous revolutions over decades, starting from the domestication of livestock and crops to the organized use of crop rotation with the introduction of advanced farming technologies. To address the rising demand for food from the limited agricultural land and labor available, technology providers are introducing innovative solutions in the farming arena. Over the last decade, the powered agriculture equipment market has witnessed a steady growth in terms of technological advancements and cost reduction. Moreover, the rapid growth of the practice of contract farming services and corporate partnerships have led to the increased demand for powered agriculture equipment across the globe.

About the Author

Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

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Author: Bis Rsrch

Bis Rsrch

Member since: Mar 04, 2020
Published articles: 32

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