Plowing and Cultivation Machinery Market in the US 2015-2019
About Plowing and Cultivation Machinery
In the US, there is a gradual reduction in the number of farms; there were 2,204,792 farms in 2007, which reduced to 2,109,303 in 2012, a drop of 4.3%. However, as a result of the growing population in the country, there is a huge demand for food. To meet the supply with the growing food demand, farmers are focusing on improving the productivity of farms. Soil preparation is the first and the most important stage of farming. Therefore, proper plowing and cultivation of farmland is necessary for soil preparation and hence to improve productivity. There is an increase in the adoption of this machinery in the US. Plowing modifies the upper 12-25 cm of soil. Plowing turns the upper layer of the soil and helps in bringing fresh nutrients to the surface, aerate the soil, and allow the soil to hold back the moisture in a better way.Technavio’s analysts forecast the plowing and cultivation machinery market in the US to grow at a CAGR of 5.09% over the period 2014-2019.
Covered in this Report
In this report, Technavio covers the present scenario and the growth prospects of the plowing and cultivation machinery market in the US for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following products:
Technavio Announces the Publication of its Research Report – Plowing and Cultivation Machinery Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Plowing and Cultivation Machinery Market in the US: AGCO, Bucher Industries, CNH Industrial, Deere and Kubota
Other Prominent Vendors in the market are: CLAAS, Dawn Equipment, Derr Equipment, GK Machine, Mahindra & Mahindra and SAME Deutz-Fahr
Commenting on the report, an analyst from Technavio’s team said: “Advances in technology in agricultural equipment such as driverless robots that can do simple spraying tasks are boosting market growth. GPS, Real-time Kinematic, and Google Earth are used to maintain the direction of tractors and other equipment, automatically open and close nozzles for spot spraying, and even register actions such as seeding rate, fertilizer quantity, yield, moisture, and time management of all tasks. Farmers can even monitor their machines online. This process, called Smart Farming, consists of analyzing and processing all the actions of the machines on the farm to optimize the use of farm equipment. This helps reduce fuel, fertilizer, and seed waste, and reduces production costs for farmers.”
According to the report, energy prices affect the agricultural production and transportation costs directly and indirectly. Direct expenses such as fuel and electricity account for a large share of agriculture production cost. Energy prices have fallen sharply since mid-2014. Crude oil fell from over $100 per barrel to an average of less than $50 per barrel during the first three months of 2015. Even natural gas prices have fallen more than 20% and lower prices are expected to stay for a longer period of time. Decline in the agricultural production costs and an increase in returns will lead end-users to invest more in agriculture production. High returns enable farmers to invest in agricultural machinery for plowing and cultivation to increase the output.Further, the report states that decrease in farm net income would affect their decision to purchase agricultural equipment and will lead to a decrease in the demand of plowing and cultivating machinery in the future.
AGCO, Bucher Industries, CNH Industrial, Deere, Kubota, CLAAS, Dawn Equipment, Derr Equipment, GK Machine, Mahindra & Mahindra, SAME Deutz-Fahr
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