Agricultural equipment relates to the mechanical structures and devices used in farming or various agricultural sector Agriculture equipment is essential for modern farming, enabling efficient operations and increased productivity. Advanced technologies like precision agriculture optimize resource use. Agriculture equipment improves yields, reduces labour, and promotes sustainable practices, playing a crucial role in modern agriculture. Especially with the introduction of mechanised agriculture, agricultural machinery is a crucial component of the global food supply.
According to SPER market research, ‘Europe Agriculture Equipment Market Size- By Tractor, By Harvesting, By Haymaking, By Tillage, By Seeding Planting & Fertilizing, By Irrigation & Crop Protection, By Livestock, By Dairy, By Garden Machinery – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Agriculture Equipment Market is predicted to reach USD 108.58 billion by 2033 with a CAGR of 6.29%.
Precision farming and automation is increasing productivity and efficiency. Farmer investments in contemporary machinery are encouraged by government assistance and incentives. Equipment that promotes resource efficiency and conservation is in high demand as a result of sustainable farming practises. Population expansion and rising food demand are driving up the demand for innovative machinery that will increase output. The necessity for replacement and upgrading fuels market expansion. Investment in automated equipment is prompted by rising labour costs and shortages. Specialised equipment is in high demand because of livestock production. Favourable financing choices and export possibilities also help the industry grow.
Small-scale farmers find it difficult to adopt contemporary equipment because of the high initial expenditures. Creating standardised solutions is challenging due to the region’s fragmented farming practises. Farmers with little technical experience may find it difficult to keep up with and comprehend the use of the rapidly advancing technologies. Rural regions might have few maintenance and repair options, which would reduce the efficiency of the equipment. Manufacturers must provide sustainable solutions in response to more stringent environmental restrictions. Complications are increased by trade volatility and the lack of available credit and financing choices. It might be difficult to integrate new machinery into established farming systems.
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Impact of COVID-19 on Europe Agriculture Equipment Market
The market for agriculture equipment in Europe has been considerably impacted by the COVID-19 outbreak. There have been documented supply chain disruptions, lower sales, and decreased demand. Equipment investments are down as a result of farmers’ tight budgets and changing priorities. Farming operations have also been impacted by restrictions and labour shortages. The emphasis on automation and efficiency in agriculture has, nevertheless, risen. Some relief has been provided by government assistance and stimulus programmes, and the move to internet marketplaces for equipment sales has gained prominence. Depending on the local conditions and responses to the pandemic, the precise impact varies among nations and areas.
Europe Agriculture Equipment Market Key Players:
Geographically, Germany is considered the most dominant region in the Europe agriculture equipment market. It has a strong agricultural sector with advanced farming practices and its advanced technology, superior productivity through mechanization, and labour deficiency, have led to the expansion of the agriculture equipment demand in this region. Furthermore, the projected period anticipates a surge in demand due to factors like sustainable farming practices, technological advancements, government support, and the need for increased productivity. Additionally, some of the market key players are AGCO Corporation, Argo Tractors Spa, CLAAS KGaA mbH, Deere & Company, Kubota Corporation, KUHN Group.
Europe Agriculture Equipment Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Tractor: Based on the Tractor, Europe Agriculture Equipment Market is segmented as; Agricultural tractors <= 49 hp, Agricultural tractors 50-79 hp, Agricultural tractors 80-99 hp, Agricultural tractors 100-120 hp, Agricultural tractors > 120 hp.
By Harvesting: Based on the Harvesting, Europe Agriculture Equipment Market is segmented as; Balers, Combine harvesters, Root crop harvesters, Self-propelled forage harvesters, Other harvesting machines.
By Haymaking: Based on the Haymaking, Europe Agriculture Equipment Market is segmented as; Mounted or Trailed Mowers, Other Haymaking Equipment.
By Tillage: Based on the Tillage, Europe Agriculture Equipment Market is segmented as; Harrows, Ploughs, Scarifiers and cultivators, Other tillage equipment.
By Seeding, Planting & Fertilizing: Based on the Seeding, Planting & Fertilizing, Europe Agriculture Equipment Market is segmented as; Organic fertilizers spreaders, Mineral fertilizers dispensers, Seeders, planters & Transplanters.
By Irrigation & Crop Protection: Based on the Irrigation & Crop Protection, Europe Agriculture Equipment Market is segmented as; Mechanical irrigation systems, Portable sprayer, Sprayer, Other crop protection sprayers.
By Livestock: Based on the Livestock, Europe Agriculture Equipment Market is segmented as; Animal food preparation machines, Aviculture Machines, Others breeding equipment.
By Dairy: Based on the Dairy, Europe Agriculture Equipment Market is segmented as; Milking Machines, Dairy machines and System.
By Garden Machinery: Based on the Garden Machinery, Europe Agriculture Equipment Market is segmented as; Lawn Mowers, Chainsaws, Rototillers or Rotovators, Forestry Equipment.
By Region: This research also includes data for France, Germany, Italy, Netherlands, Spain, United Kingdom, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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