Farm Equipment Market
PUBLISHED: 2024 ID: SMRC25437
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Farm Equipment Market

Farm Equipment Market Forecasts to 2030 - Global Analysis By Tillage Equipment (Primary Tillage Equipment, Secondary Tillage Equipment and Other Tillage Equipments), Irrigation Equipment (Valves, Filters and Other Irrigation Equipments), Planting Equipment, Hay and Forage Equipment, Harvesting Equipment, Plant Protection Equipment, Sprinkler Irrigation Equipment, Power Output, Application and By Geography

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5.0 (44 reviews)
Published: 2024 ID: SMRC25437

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Farm Equipment Market is accounted for $107.70 billion in 2023 and is expected to reach $170.70 billion by 2030 growing at a CAGR of 6.80% during the forecast period. Farm equipment refers to machinery, tools, and vehicles utilized in agricultural activities to enhance efficiency and productivity. These devices are designed to perform various tasks, such as planting, harvesting, cultivating, irrigation, and livestock management. Common examples include tractors, plows, seeders, combine harvesters, and balers. Modern farm equipment often incorporates advanced technologies like GPS, sensors, and automation to optimize operations and reduce labor requirements. The evolution of farm equipment has revolutionized farming practices, enabling farmers to accomplish tasks more effectively and sustainably. 

According to the Government of UK official handle, the UK government is offering farmers and growers in England up to $591,220 (£500,000) in funding to invest in cutting-edge robotics and technology to increase food output.

Market Dynamics: 

Driver: 

Government subsidies and support

Government subsidies and support play a pivotal role in driving the farm equipment market by providing financial assistance to farmers for purchasing machinery. These subsidies aim to alleviate the financial burden on farmers, making modern equipment more accessible and affordable. By incentivizing the adoption of advanced technology, governments promote efficiency and productivity in agriculture, which ultimately boosts yields and contributes to food security. Additionally, subsidies encourage the replacement of outdated equipment with more efficient and environmentally friendly alternatives. Such government initiatives not only benefit individual farmers but also stimulate growth in the agricultural machinery industry, driving innovation and economic development in rural areas.

Restraint:

Economic factors

Several economic factors can restrain the farm equipment market. Fluctuations in commodity prices can directly impact farmers' purchasing power, leading to delayed or reduced investments in new equipment. Interest rates and financing options also play a significant role, as higher rates can deter farmers from taking on debt to purchase expensive machinery. Macroeconomic conditions such as recessions or trade disputes can create uncertainty, prompting farmers to postpone equipment upgrades until conditions stabilize. Import tariffs and trade barriers can raise the cost of imported machinery, limiting options for farmers and increasing overall costs. 

Opportunity:

Precision agriculture technology

Precision agriculture technology presents a significant opportunity by enabling farmers to optimize their resources and increase yields. This technology integrates sensors, GPS, and data analytics to precisely manage inputs such as water, fertilizers, and pesticides, leading to enhanced efficiency and reduced waste. By leveraging real-time data and advanced algorithms, farmers can make informed decisions tailored to specific field conditions, resulting in improved crop health and productivity. Additionally, precision agriculture technology enables automated machinery and robotic systems, reducing labor costs and increasing operational efficiency.

Threat:

Shifts in farming practices

Shifts in farming practices, such as increased automation, precision agriculture, and sustainability initiatives, pose a threat to the traditional farm equipment market. As farmers adopt advanced technologies like drones, GPS-guided machinery, and AI-driven analytics, there's a decreased demand for conventional equipment. Moreover, the focus on sustainability drives the need for eco-friendly machinery, which may not align with older models. Consequently, manufacturers in the farm equipment market face challenges in adapting to these changing trends and may need to invest in research and development to stay relevant.

Covid-19 Impact: 

Initially, disruptions in supply chains led to delays in the manufacturing and delivery of agricultural machinery. Farmers faced financial uncertainties, causing them to postpone or scale back equipment purchases. However, as the pandemic progressed, there was a surge in demand for farm equipment as food production became a priority. This led to a rebound in sales, particularly for essential machinery like tractors and harvesters. Additionally, there has been a growing interest in autonomous and IoT-enabled equipment to minimize human interaction and enhance efficiency in agricultural operations. 

The pipe segment is expected to be the largest during the forecast period

The pipe segment has witnessed significant growth in recent years due to increasing mechanization in agriculture, driving the need for pipes to transport water efficiently across fields. Moreover, advancements in pipe technology, such as the development of durable materials and improved irrigation methods, have further boosted market growth. Government initiatives promoting water conservation and sustainable farming practices have encouraged farmers to invest in modern irrigation systems, fueling the demand for pipes. Furthermore, expanding agricultural activities in emerging economies and the adoption of precision farming techniques have contributed to the expansion of the pipe segment within the farm equipment market.

The combine harvester segment is expected to have the highest CAGR during the forecast period

The Combine Harvester segment has experienced significant growth due to increasing machinery abilities to perform multiple tasks like harvesting, threshing, and cleaning in a single operation. Advancements in technology have led to the development of more sophisticated and high-performance combine harvesters, attracting farmers looking to optimize their operations. The consolidation of farmland into larger holdings has fuelled demand for larger and more powerful combine harvesters capable of covering vast acreages efficiently. Furthermore, the growing adoption of precision farming techniques has spurred the integration of advanced features such as GPS-guided navigation and yield monitoring systems in combine harvesters.

Region with largest share:

The farm equipment market in North America has experienced steady growth due to technological advancements and the need for higher efficiency equipments. Factors such as government subsidies, favourable agricultural policies, and the adoption of precision farming techniques have contributed to market expansion. The region's large-scale farming operations necessitate modern and efficient machinery, further boosting market growth. Additionally, rising awareness regarding sustainable farming practices has led to the adoption of environmentally friendly equipment, driving market growth even further.

Region with highest CAGR:

The Asia-Pacific region has experienced significant growth due to population growth that have increased the demand for agricultural products, driving the need for advanced farming machinery to boost productivity. Government initiatives aimed at modernizing agricultural practices and improving food security have spurred investment in farm equipment. The advancements in technology, such as precision farming and automation, have led to increased adoption of modern farming machinery in the region. Additionally, rising disposable incomes among farmers have enabled them to invest in high-quality equipment to enhance efficiency and yields.

Key players in the market

Some of the key players in Farm Equipment market include AGCO Corporation , Alamo Group Inc, CLAAS KGaA mbH, GEA Group , ISEKI & Co. Ltd, J.C. Bamford Excavators Ltd, Krone Gruppe, Kubota Corporation, Kuhn Group S.A., Lovol Heavy Industry Co. Ltd, Mahindra & Mahindra Limited, McCormick Tractors International Ltd, SDF Group, Valmont Industries Inc and Yanmar Co. Ltd.     

Key Developments:

In January 2024, Kubota unveils concept electric tractor at CES 2024. A PROTOTYPE electric tractor set to hit the market in 2030 was revealed by Kubota North America Corporation at CES 2024. The program covers a raft of sectors, agriculture included, that look at how the next generation of equipment will integrate artificial intelligence, automation, and electrification.

In November 2023, AGCO signed an agreement to acquire digital assets from FarmFacts GmbH, a leader in Farm Management Information Software (FMIS) located in Pfarrkirchen, Germany. The acquisition increases AGCO’s FMIS offering and software development capabilities to serve farmers’ data management needs.

Tillage Equipments Covered:
• Primary Tillage Equipment  
• Secondary Tillage Equipment  
• Other Tillage Equipments  

Irrigation Equipments Covered:
• Valves   
• Filters   
• Pipes   
• Pumps   
• Emitters   
• Other Irrigation Equipments   

Planting Equipments Covered:
• Transplanters  
• Air Seeders  
• Seed Drills  
• Planters  
• Broadcast Seeders  
• Box Drill Seeders  
• Other Planting Equipments   

Hay and Forage Equipments Covered:
• Forage Blowers   
• Balers   
• Mowers   
• Other Hay and Forage Equipments   

Harvesting Equipments Covered:
• Combine Harvester  
• Threshers  
• Sheller  
• Other Harvesting Equipments   

Plant Protection Equipments Covered:
• Airblast Sprayers   
• Motorized Sprayers   
• Boom Sprayers   
• Hand Operated Sprayers   
• Aerial Sprayer   
• Other Plant Protection Equipments   

Sprinkler Irrigation Equipments Covered:
• Center Pivot   
• Travelling Guns   
• Solid Set   
• Lateral Move   
• Side Roll   
• Other Sprinkler Irrigation Equipments   

Power Outputs Covered:
• <30 HP 
• 31–70 HP 
• 71–130 HP 
• 131–250 HP 
• >250 HP 

Applications Covered:
• Land Development   
• Harvesting and Threshing   
• Cultivation   
• Sowing and Planting   
• Post Harvesting   
• Other Applications   

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary         
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology        
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach       
 2.5 Research Sources        
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions       
          
3 Market Trend Analysis         
 3.1 Introduction        
 3.2 Drivers        
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats        
 3.6 Application Analysis        
 3.7 Emerging Markets        
 3.8 Impact of Covid-19        
          
4 Porters Five Force Analysis         

 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry        
          
5 Global Farm Equipment Market, By Tillage Equipment         
 5.1 Introduction        
 5.2 Primary Tillage Equipment        
  5.2.1 Disc Plough       
  5.2.2 Disc Tiller Plough       
  5.2.3 Sub Soil Plough       
  5.2.4 Rotary Tillers       
  5.2.5 Moldboard Plough       
  5.2.6 Other Primary Tillage Equipments       
 5.3 Secondary Tillage Equipment        
  5.3.1 Weeders       
  5.3.2 Pulverizers       
  5.3.3 Cultivators       
  5.3.4 Harrow       
   5.3.4.1 Off set Disc Harrow      
   5.3.4.2 Disc Harrow      
  5.3.5 Other Secondary Tillage Equipments       
 5.4 Other Tillage Equipments        
          
6 Global Farm Equipment Market, By Irrigation Equipment         
 6.1 Introduction        
 6.2 Valves        
 6.3 Filters        
 6.4 Pipes        
 6.5 Pumps        
 6.6 Emitters        
 6.7 Other Irrigation Equipments        
          
7 Global Farm Equipment Market, By Planting Equipment         

 7.1 Introduction        
 7.2 Transplanters        
 7.3 Air Seeders        
 7.4 Seed Drills        
 7.5 Planters        
  7.5.1 Hill Drop Planter       
  7.5.2 Check-Row Planter       
  7.5.3 Regular Drill Planter       
 7.6 Broadcast Seeders        
 7.7 Box Drill Seeders        
 7.8 Other Planting Equipments        
          
8 Global Farm Equipment Market, By Hay and Forage Equipment         
 8.1 Introduction        
 8.2 Forage Blowers        
 8.3 Balers        
 8.4 Mowers        
 8.5 Other Hay and Forage Equipments        
          
9 Global Farm Equipment Market, By Harvesting Equipment         
 9.1 Introduction        
 9.2 Combine Harvester        
  9.2.1 PTO Powered       
  9.2.2 Tractor Pulled       
  9.2.3 Self-Propelled       
  9.2.4 Other Combine Harvesters       
 9.3 Threshers        
  9.3.1 Pedal Operated Paddy Thresher       
  9.3.2 Axial-Flow Paddy Thresher       
  9.3.3 Multi-Crop Thresher       
 9.4 Sheller        
  9.4.1 Spike Tooth Type       
  9.4.2 Axial Flow Type       
  9.4.3 Other Shellers       
 9.5 Other Harvesting Equipments        
          
10 Global Farm Equipment Market, By Plant Protection Equipment         
 10.1 Introduction        
 10.2 Airblast Sprayers        
 10.3 Motorized Sprayers        
 10.4 Boom Sprayers        
 10.5 Hand Operated Sprayers        
 10.6 Aerial Sprayer        
 10.7 Other Plant Protection Equipments        
          
11 Global Farm Equipment Market, By Sprinkler Irrigation Equipment         
 11.1 Introduction        
 11.2 Center Pivot        
 11.3 Travelling Guns        
 11.4 Solid Set        
 11.5 Lateral Move        
 11.6 Side Roll        
 11.7 Other Sprinkler Irrigation Equipments        
          
12 Global Farm Equipment Market, By Power Output         
 12.1 Introduction        
 12.2 <30 HP        
 12.3 31–70 HP        
 12.4 71–130 HP        
 12.5 131–250 HP        
 12.6 >250 HP        
          
13 Global Farm Equipment Market, By Application         
 13.1 Introduction        
 13.2 Land Development        
 13.3 Harvesting and Threshing        
 13.4 Cultivation        
 13.5 Sowing and Planting        
 13.6 Post Harvesting        
 13.7 Other Applications        
          
14 Global Farm Equipment Market, By Geography         
 14.1 Introduction        
 14.2 North America        
  14.2.1 US       
  14.2.2 Canada       
  14.2.3 Mexico       
 14.3 Europe        
  14.3.1 Germany       
  14.3.2 UK       
  14.3.3 Italy       
  14.3.4 France       
  14.3.5 Spain       
  14.3.6 Rest of Europe       
 14.4 Asia Pacific        
  14.4.1 Japan       
  14.4.2 China       
  14.4.3 India       
  14.4.4 Australia       
  14.4.5 New Zealand       
  14.4.6 South Korea       
  14.4.7 Rest of Asia Pacific       
 14.5 South America        
  14.5.1 Argentina       
  14.5.2 Brazil       
  14.5.3 Chile       
  14.5.4 Rest of South America       
 14.6 Middle East & Africa        
  14.6.1 Saudi Arabia       
  14.6.2 UAE       
  14.6.3 Qatar       
  14.6.4 South Africa       
  14.6.5 Rest of Middle East & Africa       
          
15 Key Developments         
 15.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 15.2 Acquisitions & Mergers        
 15.3 New Product Launch        
 15.4 Expansions        
 15.5 Other Key Strategies        
          
16 Company Profiling         
 16.1 AGCO Corporation        
 16.2 Alamo Group Inc        
 16.3 CLAAS KGaA mbH        
 16.4 GEA Group        
 16.5 ISEKI & Co. Ltd        
 16.6 J.C. Bamford Excavators Ltd        
 16.7 Krone Gruppe        
 16.8 Kubota Corporation        
 16.9 Kuhn Group S.A.        
 16.10 Lovol Heavy Industry Co. Ltd        
 16.11 Mahindra & Mahindra Limited        
 16.12 McCormick Tractors International Ltd        
 16.13 SDF Group        
 16.14 Valmont Industries Inc        
 16.15 Yanmar Co. Ltd        
          
List of Tables          
1 Global Farm Equipment Market Outlook, By Region (2021-2030) ($MN)         
2 Global Farm Equipment Market Outlook, By Tillage Equipment (2021-2030) ($MN)         
3 Global Farm Equipment Market Outlook, By Primary Tillage Equipment (2021-2030) ($MN)         
4 Global Farm Equipment Market Outlook, By Disc Plough (2021-2030) ($MN)         
5 Global Farm Equipment Market Outlook, By Disc Tiller Plough (2021-2030) ($MN)         
6 Global Farm Equipment Market Outlook, By Sub Soil Plough (2021-2030) ($MN)         
7 Global Farm Equipment Market Outlook, By Rotary Tillers (2021-2030) ($MN)         
8 Global Farm Equipment Market Outlook, By Moldboard Plough (2021-2030) ($MN)         
9 Global Farm Equipment Market Outlook, By Other Primary Tillage Equipments (2021-2030) ($MN)         
10 Global Farm Equipment Market Outlook, By Secondary Tillage Equipment (2021-2030) ($MN)         
11 Global Farm Equipment Market Outlook, By Weeders (2021-2030) ($MN)         
12 Global Farm Equipment Market Outlook, By Pulverizers (2021-2030) ($MN)         
13 Global Farm Equipment Market Outlook, By Cultivators (2021-2030) ($MN)         
14 Global Farm Equipment Market Outlook, By Harrow (2021-2030) ($MN)         
15 Global Farm Equipment Market Outlook, By Off set Disc Harrow (2021-2030) ($MN)         
16 Global Farm Equipment Market Outlook, By Disc Harrow (2021-2030) ($MN)         
17 Global Farm Equipment Market Outlook, By Other Secondary Tillage Equipments (2021-2030) ($MN)         
18 Global Farm Equipment Market Outlook, By Other Tillage Equipments (2021-2030) ($MN)         
19 Global Farm Equipment Market Outlook, By Irrigation Equipment (2021-2030) ($MN)         
20 Global Farm Equipment Market Outlook, By Valves (2021-2030) ($MN)         
21 Global Farm Equipment Market Outlook, By Filters (2021-2030) ($MN)         
22 Global Farm Equipment Market Outlook, By Pipes (2021-2030) ($MN)         
23 Global Farm Equipment Market Outlook, By Pumps (2021-2030) ($MN)         
24 Global Farm Equipment Market Outlook, By Emitters (2021-2030) ($MN)         
25 Global Farm Equipment Market Outlook, By Other Irrigation Equipments (2021-2030) ($MN)         
26 Global Farm Equipment Market Outlook, By Planting Equipment (2021-2030) ($MN)         
27 Global Farm Equipment Market Outlook, By Transplanters (2021-2030) ($MN)         
28 Global Farm Equipment Market Outlook, By Air Seeders (2021-2030) ($MN)         
29 Global Farm Equipment Market Outlook, By Seed Drills (2021-2030) ($MN)         
30 Global Farm Equipment Market Outlook, By Planters (2021-2030) ($MN)         
31 Global Farm Equipment Market Outlook, By Hill Drop Planter (2021-2030) ($MN)         
32 Global Farm Equipment Market Outlook, By Check-Row Planter (2021-2030) ($MN)         
33 Global Farm Equipment Market Outlook, By Regular Drill Planter (2021-2030) ($MN)         
34 Global Farm Equipment Market Outlook, By Broadcast Seeders (2021-2030) ($MN)         
35 Global Farm Equipment Market Outlook, By Box Drill Seeders (2021-2030) ($MN)         
36 Global Farm Equipment Market Outlook, By Other Planting Equipments (2021-2030) ($MN)         
37 Global Farm Equipment Market Outlook, By Hay and Forage Equipment (2021-2030) ($MN)         
38 Global Farm Equipment Market Outlook, By Forage Blowers (2021-2030) ($MN)         
39 Global Farm Equipment Market Outlook, By Balers (2021-2030) ($MN)         
40 Global Farm Equipment Market Outlook, By Mowers (2021-2030) ($MN)         
41 Global Farm Equipment Market Outlook, By Other Hay and Forage Equipments (2021-2030) ($MN)         
42 Global Farm Equipment Market Outlook, By Harvesting Equipment (2021-2030) ($MN)         
43 Global Farm Equipment Market Outlook, By Combine Harvester (2021-2030) ($MN)         
44 Global Farm Equipment Market Outlook, By PTO Powered (2021-2030) ($MN)         
45 Global Farm Equipment Market Outlook, By Tractor Pulled (2021-2030) ($MN)         
46 Global Farm Equipment Market Outlook, By Self-Propelled (2021-2030) ($MN)         
47 Global Farm Equipment Market Outlook, By Other Combine Harvesters (2021-2030) ($MN)         
48 Global Farm Equipment Market Outlook, By Threshers (2021-2030) ($MN)         
49 Global Farm Equipment Market Outlook, By Pedal Operated Paddy Thresher (2021-2030) ($MN)         
50 Global Farm Equipment Market Outlook, By Axial-Flow Paddy Thresher (2021-2030) ($MN)         
51 Global Farm Equipment Market Outlook, By Multi-Crop Thresher (2021-2030) ($MN)         
52 Global Farm Equipment Market Outlook, By Sheller (2021-2030) ($MN)         
53 Global Farm Equipment Market Outlook, By Spike Tooth Type (2021-2030) ($MN)         
54 Global Farm Equipment Market Outlook, By Axial Flow Type (2021-2030) ($MN)         
55 Global Farm Equipment Market Outlook, By Other Shellers (2021-2030) ($MN)         
56 Global Farm Equipment Market Outlook, By Other Harvesting Equipments (2021-2030) ($MN)         
57 Global Farm Equipment Market Outlook, By Plant Protection Equipment (2021-2030) ($MN)         
58 Global Farm Equipment Market Outlook, By Airblast Sprayers (2021-2030) ($MN)         
59 Global Farm Equipment Market Outlook, By Motorized Sprayers (2021-2030) ($MN)         
60 Global Farm Equipment Market Outlook, By Boom Sprayers (2021-2030) ($MN)         
61 Global Farm Equipment Market Outlook, By Hand Operated Sprayers (2021-2030) ($MN)         
62 Global Farm Equipment Market Outlook, By Aerial Sprayer (2021-2030) ($MN)         
63 Global Farm Equipment Market Outlook, By Other Plant Protection Equipments (2021-2030) ($MN)         
64 Global Farm Equipment Market Outlook, By Sprinkler Irrigation Equipment (2021-2030) ($MN)         
65 Global Farm Equipment Market Outlook, By Center Pivot (2021-2030) ($MN)         
66 Global Farm Equipment Market Outlook, By Travelling Guns (2021-2030) ($MN)         
67 Global Farm Equipment Market Outlook, By Solid Set (2021-2030) ($MN)         
68 Global Farm Equipment Market Outlook, By Lateral Move (2021-2030) ($MN)         
69 Global Farm Equipment Market Outlook, By Side Roll (2021-2030) ($MN)         
70 Global Farm Equipment Market Outlook, By Other Sprinkler Irrigation Equipments (2021-2030) ($MN)         
71 Global Farm Equipment Market Outlook, By Power Output (2021-2030) ($MN)         
72 Global Farm Equipment Market Outlook, By <30 HP (2021-2030) ($MN)         
73 Global Farm Equipment Market Outlook, By 31–70 HP (2021-2030) ($MN)         
74 Global Farm Equipment Market Outlook, By 71–130 HP (2021-2030) ($MN)         
75 Global Farm Equipment Market Outlook, By 131–250 HP (2021-2030) ($MN)         
76 Global Farm Equipment Market Outlook, By >250 HP (2021-2030) ($MN)         
77 Global Farm Equipment Market Outlook, By Application (2021-2030) ($MN)         
78 Global Farm Equipment Market Outlook, By Land Development (2021-2030) ($MN)         
79 Global Farm Equipment Market Outlook, By Harvesting and Threshing (2021-2030) ($MN)         
80 Global Farm Equipment Market Outlook, By Cultivation (2021-2030) ($MN)         
81 Global Farm Equipment Market Outlook, By Sowing and Planting (2021-2030) ($MN)         
82 Global Farm Equipment Market Outlook, By Post Harvesting (2021-2030) ($MN)         
83 Global Farm Equipment Market Outlook, By Other Applications (2021-2030) ($MN)         
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.          

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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