Latest News:- Planting Equipment Market: Mechanical is expected to lead the Type segment during 2024-2028

Planting Equipment Market to grow at a CAGR of 7.19% during 2024-2028

The Planting Equipment Market is expected to grow at a CAGR of 7.19% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6619.6 million. Vendors in the global planting equipment market are strategically expanding their businesses through mergers and acquisitions (M&A), aiming to broaden their product offerings, geographic reach, and customer base. Notably, in September 2023, AGCO Corporation acquired an 85% stake in Trimble Inc. for USD2 billion to enhance its product line. Similarly, in January 2024, Plant and Equipment acquired Global Equipment Trading in the UAE to expand their construction equipment product offerings. These strategic moves not only provide competitive advantages but also help increase market shares, allowing vendors to cater to a larger customer base, thereby accelerating the growth of the global planting equipment market during the forecast period. 

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The Mechanical subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Mechanical subsegment will lead the Type segment during 2024 and 2028 The planting equipment market is experiencing significant growth, driven by various factors. Government initiatives, such as attractive interest schemes for farmers investing in agricultural implements, have contributed to this expansion. Additionally, the emergence of contract farming has boosted market growth. Key growth drivers during the forecast period include the increasing mechanization of agriculture, rising farmers' incomes, and favorable climatic conditions for food production. Government support through loan concessions for all income categories further promotes market growth. Technologically advanced agricultural robotics, including autonomous tractors and flying drones, are increasing growth opportunities for the mechanical segment of the market, enabling farmers to produce food efficiently and cost-effectively to meet the growing demand.

Here are the various ways based on which the market is segmented: 

• Type
  • Mechanical
  • Automatic
• Product
  • Seed drills
  • Planters
  • Air seeders
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing government support for agricultural practices globally

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Planting Equipment Market plays a significant role in the farming industry, revolutionizing the sowing and planting process from traditional hand sowing to modern farm machinery. The conventional sowing technique, which involves human tool changes and physical labor, has been largely replaced by advanced seed drillers and sowing machinery. These machines, including machining centres, furrow openers, fluted rollers, and seed metres, have streamlined farming tasks and increased efficiency. The agricultural industry has benefited greatly from these cutting-edge planting tools, enabling designated rows and precise seed placement in the field of crops. The Planting Equipment Market continues to evolve, providing farmers with innovative solutions to optimize their planting techniques and improve their yields. Agricultural services have become increasingly important in the implementation and maintenance of these modern planting systems. Overall, the Planting Equipment Market is a crucial component of the agriculture industry, enabling farmers to efficiently and effectively plant their seeds and cultivate their crops.

Market Research Overview

The global agricultural and farm machinery market encompasses businesses engaged in the manufacturing of agricultural and farm machinery, as well as related components. This sector comprises a range of equipment such as agricultural tractors, haying machinery, harvesting machinery, planting machinery, livestock machinery, spraying machinery, tillage machinery, and irrigation systems. According to Technavio's market analysis, the size of the agricultural and farm machinery market is determined by the revenues generated by the manufacturers of these diverse machinery types. Market expansion will be fueled by an escalating number of new product launches from industry players, aiming to broaden their product offerings.

The Planting Equipment Market is experiencing significant growth, fueled by the growing government support for agricultural practices globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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