The global planting equipment market is experiencing significant growth and is expected to grow considerably in the next few years. The agriculture industry is witnessing a rise due to a rising population across the globe. To make the agriculture industry efficient and highly productive, many machines are used, and one of them is planting equipment. There are many options of planting equipment to choose from and they are basically categorized on the basis of how they sow seeds. Some of its types are air seeders, seed drills, and planters. In addition, some of the planting equipment also incorporates automation to various degrees. Furthermore, not all pieces of planting equipment are self-propelled, so they must be towed and operated by other agricultural vehicles, such as tractors. Growing demand in the agriculture industry is driving demand in the planting equipment market. Major players in the planting equipment industry adopt advanced technologies to increase the efficiency and planting capacity of their products to sustain the competition in the planting equipment market.
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Market Scope and Structure Analysis
Description
Planting equipment is especially designed for sowing seeds such as grains, cereals, oil-seeds, and vegetable seeds into the crop field. A planter stores seeds in a box on top of the machine. The seeds fall through the bottom of the box and into a seed plate. Hence, the plate rotates so that the seeds fall out one-by-one on to the ground, and hence, performs the task of sowing seeds.
COVID-19 Impact Analysis
- The COVID-19 pandemic ceased the production of various products in the planting equipment industry, which is attributed to the global lockdown. This has hampered the growth of planting equipment market in the years and a similar trend is expected to be seen in the first half of 2022.
- The major demand for planting equipment was previously noticed from giant developed and developing countries, including the U.S., Germany, Italy, UK, India and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for planting equipment.
- Further, the long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Planting equipment manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary few players also adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
- Planting equipment manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
For instance, around 40% of the global population calls agribusiness their core occupation, and to increase the productivity of their crops, farmers use many machineries, such as planting equipment, to make their agriculture productive, thus boosting the demand for the planting equipment market. The global population is expected to increase to 9.5 billion in 2050 from 7.8 billion in 2021. This trend is anticipated to increase the demand for agricultural products, thereby increasing the demand for planting equipment. Moreover, improvement in economic conditions of farmers in developing nations is also boosting the growth in the planting equipment market. However, the dearth of skilled labor for efficient operation of planting equipment is one of the restraining factors hindering the growth of the planting equipment market. Contrarily, technological developments in plant equipment products such as adoption of remote operation, use of the internet of things (IoT) and artificial intelligence (AI) boost the efficiency of the equipment as well as result in lowering the cost of equipment and the number of accidents caused due to mishandling of this equipment. This is anticipated to create lucrative opportunities for the growth of the planting equipment market during the forecast period.
Market Trends
- New products that contain improved capabilities are launched by leading market players. They take the necessary steps to improve the overall functionality of the products. For instance, in February 2020, Deere & Company, a world leader in agriculture equipment and machinery, launched the ‘1745 MaxEmerge 5 Planter’ for corn and soybean farmers. The product launch has enhanced the product offerings of the company to sustain the competition in the planting equipment market.
- Similarly, competitors in the planting equipment market adopted cooperation as their key developmental strategy to expand their geographical foothold. For instance, in April 2019, Mazergroup Ltd. and Morris Industries Ltd. announced a new distribution agreement between themselves. As part of this agreement, Morris Industries has agreed to supply Mazergroup with all products in order to complement Mazergroup’s current product offerings.
- In addition, Canada-based SeedMaster expanded its sales channels in Alberta, Canada, using the Alberta AG Center in April 2021. With this move, Alberta AG will complement its existing products with SeedMaster's new products, and SeedMaster will expand its market.
Key Benefits of the Report
- This study presents the analytical depiction of the planting equipment industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the planting equipment market share.
- The current market is quantitatively analyzed to highlight the planting equipment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed planting equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Planting Equipment Market Report Highlights
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