Agriculture Equipment Market Segmentation:
Product Segment Analysis
Tractors segment is expected to hold more than 35% agriculture equipment market share by 2035. The segment's tremendous growth rate can be augmented by the lack of human resources and the need for population growth to meet the world's nutritional requirements. Tractors are now essential for the agriculture sector to become more productive. According to the OECD in 2023, there is an expected fall in the employment landscape of Europe in the next decade of about 13%, with a huge decline for low-skilled workers. Moreover, over the coming years, advancements in automated material handling equipment should support the segment's expansion.
The agriculture equipment market value is expanding as a result of the growing acceptance of smart combine harvesters and the incorporation of smart actuators into already-existing harvesters. Farmers can better regulate harvesting applications and monitor grain flow with smart combine harvesters.
Application Segment Analysis
Land development & seedbed preparation segment in the agriculture equipment market is poised to register lucrative growth till 2035. since there are fewer agricultural laborers in the world, and this shortage causes the country's development process to require more equipment. According to a report by the OECD in 2023, in Australia, the percentage of working people on farms was reduced by 5.5%, along with a reduction of about 20% in the number of farm managers.
Regarding developed nations, labor has become much less available, which has increased the need for this equipment, which is projected to grow rapidly over the next several years. In addition, more tractors will be used to develop the land. The advantages of using tractors include higher productivity and shorter processing times for these tasks. Throughout the slated period, the segments for threshing and harvesting will likewise expand strongly.
Our in-depth analysis of the global agriculture equipment market includes the following segments:
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