Posts
Agriculture equipment is machinery utilized in agricultural or any
farming activity. There are so many different types of this machinery, ranging
from hand operated power equipment and wheeled tools to tractor and the many
other types of farm tools that they run or tow. Various types of agriculture
equipment are utilized in both non-agricultural farming activities. They are
mostly used for transportation, harvesting, and the process of planting,
harvesting and cultivation of crops and their products.
The major equipment utilized in agricultural farming is the
tractor. Tractors are very important equipment because they are capable of
moving very heavy loads. They are also capable of operating at very low speeds,
so that they can work effectively.
Market Dynamics
Focus on increasing agricultural income is expected to propel
growth of the global agriculture
equipment market over the forecast period. For instance, according to a
joint study by Vodafone Group Plc, Accenture Plc, and Oxfam, a confederation of
19 independent charitable organizations focusing on the alleviation of global
poverty, adoption of connected agriculture could increase agricultural income
by around US$ 138 billion across 26 of Vodafone’s markets in 2020.
Emergence of Covid-19 is also expected to aid in growth of the
global agriculture equipment market. For instance, in October 2020, The Food
and Agriculture Organization of the United Nations (FAO) has called on
countries around the world to deal with the widespread effects of the global
COVID-19 pandemic through promoting climate-smart and environmentally friendly
agricultural practices. FAO also announced to organize an eLearning program in
Iran to equip experts with the requisite knowledge and skills to implement the
advanced approach of Real Water Savings (REWAS) in the agriculture sector.
Increasing demand for food is expected to offer lucrative growth opportunities
for players in the global agriculture equipment market. For instance, according
to Food and Agriculture Organization, worldwide food demand is expected to
increase by 70% by 2050. Moreover, decreasing arable land is also expected to
aid in growth of the global agriculture equipment market. For instance, according
to the study ‘Will Limited Land, Water, and Energy Control Human Population
Numbers in the Future’, published in the journal Human Ecology, the amount of
arable land available per person will decrease to 1500m² by 2050 from 4000m² in
1961.
Competitive Analysis
The major players operating in the global agriculture equipment
market include AGCO Corporation, Agrostroj Pelhrimov A.S, China National
Machinery Industry Corporation, Concern Tractor Plants, Deere & Company,
Escorts Limited, Mahindra Group, Same Deutz-Fahr Group (SDF), Valmont
Industries Incorporated, and Weifang Euroking Machinery
November 2020: The AGCO Agriculture Foundation, a foundation of AGCO
Corporation, partnered with Self Help Africa (SHA) to implement a sustainable
poultry production project that will contribute to enhanced food, skills,
income and nutrition security of smallholder farming communities in Chongwe
District of the Republic of Zambia.
No comments:
Post a Comment