London, 2 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the plowing and cultivation machinery market in the US 2015-2019, which is expected to grow at a CAGR of 5.09% during the period of 2014-2019.
Increasing demand for food products in the US region drives the potential for growth in this market. Additionally, the development of technologically advanced products that can spur efficiency and also promote environmentally friendly, sustainable plowing techniques increase the demand for plowing and cultivation machinery in the US. The shift in consumer preference toward environmentally friendly solutions has forced many manufacturers to innovate products that prevent soil degradation and reduce the amount of work needed for tillage.
“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,” says Faisal Ghaus, Vice President of Technavio.
“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 to reduce fuel, fertilizer, and seed waste, and reduces production costs for farmers.”
Key Market Drivers:
- Energy Price Reduction.
- Replacement Demand.
- Rise in Population.
- Easy Government Loans.
Key Market Trends:
- Integration of Robotic Systems and GPS in Agricultural Machines.
- Introduction of Diesel-electric Motors in Agricultural Machines.
- Increase in M&A and Investments.
- Shift toward Sustainable Agriculture.
Key Market Vendors:
- Allis-Gleaner Corp. (AGCO)
- Bucher Industries AG
- CNH Industrial Capital LLC
- Deere and Company
- Kubota Tractor Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
