Agricultural Shredder Machine Market Expected to Reach $2.38 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Agricultural Shredder Machine Market," The agricultural shredder machine market size was valued at $1.58 billion in 2021, and is estimated to reach $2.38 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

Agricultural shredders are used to shred agricultural farm waste both dry and wet, so that it can be recycled into organic manure by shredding it into small pieces and decomposing it. The shredded & pulverized waste can be used as organic manure on the field to enhance the moisture content and fertility of the soil, while reducing the need for chemical fertilizers. These agricultural shredders are ideal for shredding agricultural waste, farm waste, and garden waste.

Increase in awareness about the importance of innovative farming methods in agriculture sector is one of the major factors for the growth of the agriculture shredder machine market. In addition, the use of these equipment saves time and manual labor, which increase the efficiency and productivity. Furthermore, in developing nations, the seldom usage of agrarian shredders and cutters lead to the adoption of new technologies limiting the agricultural shredder machine market growth.

Major players have adopted product launch and acquisition as a key strategy to sustain the competition and improve the product portfolio. For instance, in March 2021, Massey Ferguson introduced RB 4160P Protec combo baler. Producers may now focus on harvesting forage at optimum condition retaining its nutritional value for livestock. The Protec, combines all the features of the RB Series silage balers with an integrated bale-wrapping unit, allowing producers to harvest and ensile high-moisture forages in one simple process.

Asia-Pacific accounting for around 44% share of the global market, has dominated the global agricultural shredder machine market share in terms of revenue in 2021 owing to the rise in urbanization and growth of agriculture sector.

However, during the COVID-19 pandemic, various manufacturers in the agricultural shredder machine market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of agriculture shredder machine companies. In addition, lack of manpower and raw materials also constricted supply of equipment of agricultural shredder machine, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of agricultural shredder machine companies.

According to Sonali Singh, Lead Analyst, Construction and Manufacturing at Allied Market Research, “The agricultural sector plays a vital role in developing and underdeveloped countries, where majority population is engaged in farming activities. Thus, the economic growth of these countries is majorly dependent on the volume of crops produced, which is assisted using advanced agricultural machinery. Furthermore, governments in these nations offer incentives and loans to farmers to motivate the use of agricultural equipment, which increases the cultivation of crops. Thus, all these factors collectively are anticipated to create lucrative growth opportunities for the agriculture shredder machine market during the forecast period.”

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global agricultural shredder machine market trends and dynamics. 
• Depending on product type, the rotary cutters segment has dominated the agricultural shredder machine market, in terms of revenue in 2021 and flail mowers and shredders system is projected to grow at a significant CAGR during the forecast period.
• By automation grade, the semi-automatic segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global agricultural shredder machine market analysis are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the agricultural shredder machine industry.
• The agricultural shredder machine market forecast analysis from 2022 to 2031 is included in the report.