Global Seed Drills Market 2018-2022
About Seed Drills
A seed drill is an agricultural equipment that sows an accurate quantity of seeds at an equal distance and depth in the agricultural field precisely. Seed drills that are suitable for both small and large grains have been considered in this market report.
Technavio’s analysts forecast the Global Seed Drills Market to grow at a CAGR of 3.11% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the seed drills market. To calculate the market size, the report considers the revenue generated from the sale of seed drills across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report - Global Seed Drills Market 2018-2022
Technavio recognizes the following companies as the key players in the global seed drills market: AGCO, CNH Industrial, Deere & Company, KUBOTA, and KUHN.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the increased popularity of pneumatic seed drills. The increase in the demand for mechanization in the agricultural sector has led to the development of products such as pneumatic seed drills.”
According to the report, one driver influencing this market is the increased scarcity of labor in agricultural sectors. The global seed drills market is likely to witness a rapid growth owing to the fact that a large pool of labor from the agricultural sector has shifted to other labor-intensive industries resulting in immense scarcity of labor. Countries such US and Brazil are experience acute shortage of labor which has driven the labor costs very high. This phenomenon of rapid wage increase coupled with scarcity of labor is compelling farmers to adopt agriculture equipment, such as seed drills, which is expected to boost the growth of the market.
Further, the report states that one challenge affecting this market is the increase in cost of fuel. Agricultural equipment such as seed drills require the use of fuel for operations, and the rise in fuel prices is a major challenge for the growth of the global seed drills market.
Deere & Company
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