The use of agricultural equipment aids in obtaining a high crop yield in a relatively short period of time and with minimal effort. Furthermore, the use of automatic and semiautomatic agriculture equipment reduces the need for human labour on farms, lowering manpower costs. This increases crop production by reducing downtime and allowing for more precise operations.
The global agricultural equipment market is estimated to account for US$ 110.7 Bn in terms of by the end of 2019
Increased mechanisation of various farming activities such as ploughing, harrowing, planting, harvesting, and tilling is expected to boost demand for agriculture equipment, driving the global agriculture equipment industry's growth. The recognition of benefits as a result of the use of mechanical equipment such as tractors, harvesters, and various attachments increases farmers' reliance on agricultural equipment. Furthermore, the use of precision farming promotes sustainability in farming activities, increases profitability, and protects land resources, resulting in increased agricultural production. Various products offered by major players in the agriculture equipment industry aid farmers in various farming activities such as sowing and harvesting, which promotes the use of agriculture equipment. This has a significant impact on the global agriculture equipment market's growth.
Furthermore, the world's growing population necessitates additional food cultivation. This demand can be sustained by increasing farm cultivation efficiencies through the use of automatic and semiautomatic agriculture equipment. The use of agricultural equipment aids in the cultivation of more crops in less time and effort, increasing food production for the growing population. As a result of the increase in global population, there is a greater demand for agricultural equipment, which drives the growth of the agriculture equipment market.
Key players in the market are involved in developing smart tractors that are equipped with advanced technologies such as GPS antenna, different attachments such as thresher, hauler, and fertilizer distributors, and better hydraulic systems. Such equipment are expected to offer more efficient performance that its contemporaries. In March 2017, AGCO introduced new Visioline Roof for their Global Series tractors, launched at SIMA Paris show.
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