LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global planting equipment market and the market is poised to grow by USD 4.28 billion during 2020-2024 at a CAGR of over 6% during the forecast period. Request Free Sample Pages
Read the 144-page research report with TOC on "Planting Equipment Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by Product (Seed drills, Planters, and Air seeders), and Segment Forecasts, 2020-2024".
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The growing emphasis on farm mechanization along with funding for the rising deployment of equipment and technologies for precision farming is anticipated to boost the growth of the market.
Various government and non-government bodies around the globe are introducing several initiatives to improve agricultural practices and productivity. Governments are providing subsidies to farmers to purchase agricultural machinery and equipment, including planting equipment. In addition, they are promoting the use of advanced technologies and mechanized equipment even in small household farms. They are offering agricultural loans and funds to support young farmers to start their own farm businesses. Thus, the growing emphasis on farm mechanization is expected to drive market growth during the forecast period.
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Major Five Planting Equipment Market Companies:
AGCO Corp.
AGCO Corp. is headquartered in the US and operates the business under various segments such as Tractors, Replacement parts, Grain storage and protein production systems, Combines, Application equipment, and Other machinery. The company offers a range of planters such as 9500VER Series Flex-Frame Planters and 9200VE Series Planters.
Bourgault Industries Ltd.
Bourgault Industries Ltd. is headquartered in Canada and offers products through the following business units: Air seeders, Air drills, Tillage, MRB and MRS fertilizer applicators, Harrows and packers, Fertilizer application systems, and Grain carts. The company offers a range of products such as 6000 Series Air Seeders and 7000 Series Air Seeders.
Bucher Industries AG
Bucher Industries AG is headquartered in Switzerland and operates under various business segments, namely Bucher Industries AG, Bucher Municipal, Bucher Hydraulics, Bucher Emhart Glass, and Bucher Specials. The company offers a range of seed drills such as 9400 Series and 5200 Series.
CLAAS KGaA mbH
CLAAS KGaA mbH is headquartered in Germany and offers products through the following business segments: Combines, Forage harvesters, Telehandlers, Balers, Forage harvesting machinery, and Transplanter. The company offers a range of transplanters such as PADDY PANTHER 14 and PADDY PANTHER 26.
CNH Industrial NV
CNH Industrial NV is headquartered in the Netherlands and UK and offers products through the following business segments: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company offers a range of air hoe drills such as New Holland P2000 series air drills.
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Planting Equipment Product Outlook (Revenue, USD Million, 2020-2024)
- Seed drills
- Planters
- Air seeders
Planting Equipment Regional Outlook (Revenue, USD Million, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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