Planting Equipment Market

SKU: DMAG3551 | Last Updated On: Oct 18 2022 | Available Formats

>Planting Equipment Market Expected to reach a high CAGR 6.3% By 2029:

Planting Equipment Market is segmented By Type (Air Seeders, Seed Drills, Planters, Others), By Design (Mechanical, Automatic), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Planting Equipment Market is forecasted to reach at a CAGR of 6.3% during the forecast period (2022-2029).

Planting Equipment Market - Strategic Insights

Metrics

Details

Market CAGR

6.3%

Segments Covered

By Type, By Design, By Crop Type, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Planting equipment is farm equipment that is used in agricultural fields to sow seeds. By using planting equipment, the seeds are planted in unique rows. Manual labor is minimized by planting machines. In agricultural applications, it is used for the seeding process. Planting equipment has replaced the conventional way of planting seeds. The demand for planting equipment is expected to be driven by the growth of automation and ease of use. Moreover, planting equipment allows us to effectively perform farming work within a short time. Growth in the farming industry is expected to improve the demand for planting equipment.

Market Dynamics

Growing emphasis on farm mechanization

A variety of measures to boost farming techniques and products are being introduced by various government and non-government bodies across the globe. Governments provide farmers with subsidies for the purchase of agricultural machinery and equipment, including equipment for planting. In addition, also in small household farms, they encourage the use of advanced technology and mechanized machinery. They provide farm loans and funds to help young farmers launch their own farm businesses. The raising focus on farm mechanization would also contribute to an expansion of the global planting equipment.

In addition, the introduction of advanced technology into planting equipment has provided the industry with growth opportunities. Sophisticated technologies such as GPS and robotics increase the performance of equipment to a significant extent. The technology allows the machinery to be controlled remotely, increasing the precision of farming. Sensors help to provide reliable information on soil conditions and weather conditions, allowing farmers to improve yields. IoT's incorporation with machinery is revolutionizing the agricultural industry. Remote devices that can be operated via wireless devices and smartphones minimize travel time and associated costs. For example, Wipro announced the IoT deployment for JCB India Ltd. in January 2018. JCB's Livelink Telematics system has connected more than 10,000 Indian customers with construction machinery and equipment.

However, the decrease in the availability of agricultural land, the high cost of planting equipment and the growth of the market for second-hand machines could hinder the growth of the planting equipment industry over the forecast period.

Market Segmentation:

Seed drills are predicted to hold prominent share in the global market of planting equipment

The global planting equipment market has been segmented by type into air seeders, seed drills, planters, and others. The seed drills segment is expected to hold the highest market share in the year 2020. The increased area under zero tillage is expected to boost the growth of seed drills as they are ideal equipment to use in zero tillage conditions. The equipment leaves minimal impact on the soil while saving time on using multiple types of equipment for seeding and fertilizing. Developing markets are also warming up to the zero-tillage practice. For example, the period between the harvesting of the rice crop and the sowing of the wheat crop is very short in the major wheat-growing belts of Northern India, so farmers have limited time to till the soil. Farmers, thereby resort to the burning of the stubble of the rice crop, creating huge environmental issues related to air pollution. In order to address time and agronomic problems, organizations and companies are gradually collaborating with farmers to introduce zero tillage in wheat. With increasing awareness about the environmental impact of stubble burning, farmers are expected to adopt seed drills over the forecast period.

Geographical Penetration:

Asia Pacific is the largest market for planting equipment with a share of nearly XX% in 2020

By geography, Asia Pacific is expected to dominate the global planting equipment market. Demand for agricultural products is driven by an exponential population growth in the Asia Pacific region, coupled with the presence of fast-growing economies in the region. The region's agricultural sector is implementing equipment to raise production, increase product quality and improve transparency in the supply chain. In 2019, regional industry shipments of agricultural equipment exceeded 3 million units. The growth of the market is expected to be driven by supportive government initiatives and product awareness among farmers. The Indian Government, for instance, revised the Sub-mission on Agricultural Mechanization (SMAM) in the 2016-17 twelfth five-year plan. Custom Hiring Centers (CHC), Village Level Farm Machinery Bank (VLFMB), and High-Tech Hubs (HTH) are planned to be set up at Village Level, according to the scheme. The simple availability of farm implements and equipment would be encouraged by this.

Competitive Landscape

The global planting equipment market is fragmented with presence of several players across various regions. Some of the key players of the market are AGCO Corporation, Deere & Company, Kinze Manufacturing Inc and Mahindra & Mahindra Ltd among other. They key players are focusing on strategies such as acquisitions, agreements, product launches and geographical expansions. For instance, Mahindra & Mahindra Ltd has signed an agreement with Dewulf Group for manufacture and marketing of potato plating equipment in India. In January 2020, Kinze Manufacturing Inc. announced the launch of new 05 Series. The 05 Series planters are claimed to comprise several improvements to upsurge the wear life of many components and reducing the overall cost of ownership of the planter. In November 2019, CNH Industrial entered into two industry agreements with DKE Agrirouter and DataConnect to provide mixed fleet connectivity to agriculture equipment customers.

COVID-19 Impact:

Decrease in sales of key players due to supply chain disruption

The spread of COVID-19 across the globe has contributed to supply chain disturbances across agricultural ecosystems, including the demand for planting equipment. The production of hardware equipment has been hampered and has impacted businesses throughout the value chain of agriculture. In the realistic scenario, it has been assumed that all 4 quarters of the financial year 2020 will see negative growth. Some recovery is expected by the first quarter of 2021, and the market might start picking momentum by the end of 2021. In this scenario, it has been assumed that COVID-19 will have a minimum impact from the first quarter of 2021. Major agricultural OEMs such as John Deere, AGCO, and CNH have reduced their sales guidance for the first half of FY 2020 by 10 to 20%, mainly due to disruptions in the supply chain. Most of the manufacturing facilities of these companies are operating below their standard capacity, which is expected to impact their sales negatively in the short- to medium-term. AGCO has stated that the net sales for the second quarter were approximately $2.0 billion, a decrease of approximately 17.2% compared to the second quarter of 2019. Net sales for the first six months of 2020 were approximately $3.9 billion, a decrease of approximately 10.9% compared to the same period in 2019.

FAQ

What is the Planting Equipment Market growth?

The market is growing at a High CAGR 6.3%

What is Planting Equipment Market size in 2022?

The Planting Equipment Market size was valued at USD YY million in 2022.

Who are the key players in Planting Equipment Market?

AGCO Corporation, Deere & Company, Kinze Manufacturing Inc and Mahindra & Mahindra Ltd.

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