Ploughing and cultivating machinery market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Jan. 17, 2023 /PRNewswire/ — According to Technavio, the global ploughing and cultivating machinery market size is estimated to grow by USD 4,669.57 million from 2022 to 2027. The market is expected to grow at a CAGR of 6.8% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 39% of the growth of the global market during the forecast period.

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Global ploughing and cultivating machinery market – Five forces
The global ploughing and cultivating machinery market is fragmented, and the five forces analysis covers –

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• For an interpretation of Porter’s five forces model – buy the report!

Global ploughing and cultivating machinery market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global ploughing and cultivating machinery market – Segmentation assessment

Segment overview
Technavio has segmented the market based on type (ploughing and cultivation parts, planters, transplanters and seeders, weeders and hoes, cultivation machines, and ploughs) and technology (manual, semi automatic, and automatic).

• The ploughing and cultivation parts segment will grow at a significant rate during the forecast period. With the rise in mechanization and the incorporation of independent functions into farming operations, the need for fully automatic ploughing and cultivating machines has increased. The expansion of the partial autonomy of ploughing and cultivation machines has compelled manufacturers to introduce new products to the market. The growth of the global ploughing and cultivation machinery market is predicted to increase the demand for sustainable agriculture and efficient management of natural resources in the coming years.

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Geography overview
Based on geography, the global ploughing and cultivating machinery market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global ploughing and cultivating machinery market.

• APAC is estimated to account for 39% of the growth of the global market during the forecast period. China, India, Japan, and Australia are the key countries for the ploughing and cultivating machinery market in the region. This growth is driven by government programs that support sustainable agricultural practices. For instance, the Government of India and several international organizations are implementing various strategies to improve soil health, water management, and irrigation, seed varieties and hybrids, integrated pest management, credit financing, and farm mechanization. In addition, the governments of other countries provide subsidies to farmers for different types of farm and agricultural equipment, including ploughing and cultivating machinery. Such initiatives will fuel the growth of the market in APAC during the forecast period.

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Global ploughing and cultivating machinery market – Market dynamics
Key factor driving market growth

• The growing government support for agricultural practices globally is driving market growth.

• Various government and non-government bodies are introducing initiatives aimed at improving productivity to promote agricultural practices.

• For instance, the European Union offers funding and support to young farmers looking to start a farming business.

• Farmers can use this loan amount to purchase farmland and agricultural equipment such as ploughing and cultivating machinery and improve their agricultural output.

• Such initiatives will support the growth of the global ploughing and cultivating machinery market during the forecast period.

Leading trends influencing the market 

• The increasing number of product launches is a key trend in the market.

• Vendors focus on extending their product range by launching new products, which helps them increase the sales of ploughing and cultivation machines.

• Vendors are also trying to attract consumers by introducing new machines with advanced features and are offering ploughing and cultivating machines with patented features.

• In addition, they focus on providing low-capacity ploughing and cultivation machines to meet the needs of small farm owners.

• Thus, the introduction of new models will help increase sales, which, in turn, will positively impact the growth of the global ploughing and cultivation machinery market during the forecast period.

Major challenges hindering market growth

• The high cost of ploughing and cultivating machinery is challenging market growth.

• The use of ploughing and cultivating machines in agricultural fields is limited, and the investment required is very high.

• The high cost makes the purchase of such equipment a challenge for small and medium-sized farmers.

• Moreover, due to their limited use, ploughing and cultivating machines are considered less important than other agricultural machines.

• These factors are expected to control the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this ploughing and cultivating machinery market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the ploughing and cultivating machinery market between 2023 and 2027

• Precise estimation of the size of the ploughing and cultivating machinery market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the ploughing and cultivating machinery market industry across APAC, Europe, North America, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of ploughing and cultivating machinery market vendors

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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 Type

7 Market Segmentation by Technology

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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