The global powered agriculture market size reached USD 52.87 Billion in 2021 and is expected to register a revenue CAGR of 5.1% during the forecast period, according to latest analysis by Emergen Research. Increasing need for cost-effective farming and demand for better quality farming products and equipment are some key factors expected to support market revenue growth between 2022 and 2030. In addition, increasing need to conduct real-time analysis of data will boost revenue growth of the market.
The report studies the impact of the COVID-19 pandemic on the Powered Agriculture market and its crucial segments. The supply chain disruptions and economic instability have negatively impacted the growth of the market in several key regions. The report offers an in-depth analysis of the market size, market share, and market growth and its estimation through the forecast years on the basis of the COVID-19 crisis. The report examines the recent COVID-19 crisis and its impact on the global market. The report explores the present and future impact of the pandemic and provides an insight into the post-pandemic market scenario.
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Some Key Highlights From the Report
- Software segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing need for tracking, managing, and maximizing crop yield and revenues while preserving resources.
- Remote sensing segment is expected to register a significantly robust revenue growth rate over the forecast period owing to increasing need for detection of crop pests and diseases, thereby limiting adverse environmental impact.
- Asia Pacific market is expected to account for largest revenue share due to increasing government incentives and subsidies promoting adoption of powered agriculture processes in countries in the region. In India for instance, the Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation (RKVY-RAFTAAR), is a government scheme that supports farmers to purchase powered agricultural equipment, including tractors at subsidized rates.
The report offers a complete analysis of the global Powered Agriculture market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.
Key companies profiled in the Powered Agriculture report include:
John Deere Co., CNH Industrial N.V., Kubota Corporation, AGCO Corporation, Yanmar Power Technology Co., Ltd., CLAAS Tractor SAS, Iseki Co., Ltd., SDF S.P.A., Alamo Group, Inc., and Zetor UK Ltd.
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The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented global powered agriculture market on the basis of component, technology, equipment, application, and region:
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Hardware
- Software
- Services
- Technology Outlook (Revenue, USD Billion; 2019–2030)
- Guidance Technology
- Remote Sensing
- Variable Rate
- Equipment Outlook (Revenue, USD Billion; 2019–2030)
- Agricultural Unmanned Aerial Vehicles
- Tractors (Driverless, Electric)
- Combine Harvesters
- Planters
- Sprayers
- Others
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Crop Scouting
- Field Mapping
- Variable Rate Application
- Yield Monitoring
- Weather Tracking Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Others
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type applications
Chapter 9: Current and Future Trends
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