“Increase in Agricultural Productivity coupled with a shortage of labor over the years has led to rising demand for automated machines which would feed the increasing consumer demand for Agriculture related products in the European region.”
Analysts at Ken Research in their latest the publication “Europe Agriculture Equipment Market Outlook to 2023 – By Type (Tractors, Harvesting Equipment, Soil Preparation and Cultivation Equipment, Haymaking Equipment, Crop Protection Equipment, Transport, and Handling Equipments and Other Agricultural Equipment); and By Major Countries (Germany, France, Italy, UK, Poland, Spain, and Others)” believe that focusing towards incorporating new and advanced technologies in the machines, sale of high-efficiency combine harvesters, manufacturing fuel-efficient equipment, providing after sales and financial services and focusing towards an extensive distribution network are some of the factors which are collectively going to help the market register a positive CAGR of 4.3% in terms of the sales value of agriculture equipment within Europe during the forecasted period 2019–2023.
Market Demand: Before the year 2016, the Europe Agriculture Equipment Market was growing at a positive rate of growth. During 2016, the market plunged in terms of revenue due to declining commodity prices and a rise in oil prices. Lower commodity prices led to lower farm Income which further led to lesser investment by farmers towards new equipment. European farmers had already started shifting towards Mechanization and therefore, oil prices play a vital role in determining market demand. After witnessing a decline in 2016 in terms of sales of machinery, the market is presently recovering, tracing a slow-moving growth. Major operations are conducted by three types of entities namely, domestic OEMs, international OEMs, and distributors. Major players are focusing on new product launches, higher investment as well as the increased area under precision farming, and continuous improvement in extending after sales services.
Government Support: Gradual recovery in revenue of agriculture, equipment was witnessed in Europe majorly through the support of government and associations such as CEMA i.e. Conveyor Equipment Manufacturers Association / Europe Agriculture Machinery Association in the form of subsidies and loans, stabilization of oil prices and an increase in agricultural productivity.
Market Dominance: International OEMs such as John Deere established itself as a market leader. The dominance of these players is major because of the trust and brand value attached to these players thus, making it difficult for domestic/local manufacturers to establish themselves. The major competing parameters for the entities include access of distribution and dealership network, price of the products offered, after sales services and digitalization in the equipment. The penetration of precision and digital farming has been gaining traction within the European region and is likely to drive the competition in the market in the near future. Europe agricultural equipment market is likely to experience an upward trend in terms of sales volume as well as revenue of agriculture equipment.
Country-wise Dominance: European countries which are major contributors to the sales value include Germany, the UK, France; Poland, Italy and Spain and others. These six countries collectively accounted for more than half of the total Europe agricultural equipment industry revenue during 2018.
Key Segments Covered:-
By Type of Agriculture Equipment
Tractors
>300 HP
250-300 HP
200-250 HP
180-200 HP
150-180 HP
120-150 HP
100-120 HP
80-99 HP
50-79 HP
<= 49 HP
Harvesting Equipment
Self- Propelled Forage Harvester
Root Crop Harvester
Combine Harvester
Other Harvesting Machines (Potato harvesters, Mechanical Forage Harvesters, and Grape harvesters)
Soil Preparation and Cultivation Equipment
Haymaking Equipment
Mounted or Trailed Mowers
Other Haymaking Equipment
Crop Protection Equipment
Sprayers (Mounted or Trailed)
Other Crop Protection Sprayers
Portable Sprayers (With or Without Sprayers)
Transporting and Handling Equipment
Other Agricultural Equipment (Precision agricultural equipment, electronic devices, and IT-related equipment, dairy equipment, livestock equipment, garden machinery, irrigation equipment & parts and accessories of agricultural machinery)
By Countries
Italy
Germany
UK
France
Spain
Poland
Others (Austria, Belgium, Sweden, and Romania)
Key Target Audience
Existing Agricultural Equipment Companies
New Market Entrants- Domestic OEMs
New Market Entrants- Foreign OEMs
Agricultural Equipment Financing Companies
Government Bodies
Investors & Venture Capital Firms
Agricultural Equipment Manufacturers
Agricultural Equipment Distributors
Agricultural Equipment Associations
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Companies Covered:-
John Deere
AGCO
CNH Industrial
Claas
Kubota
Kuhn
Other Players (Iseki, SLH, Mercedes Benz, Landini, Belarus, Antonio Carraro, JCB Fastrac, Rigitrac, Lindner, Shibaura, Overige, Daedon, Hurlimann, Tumosan, and Ursus)
Keywords:-
Farm Equipment Market Europe
Farm Machinery Market Europe
Tractor Wheel Type Europe
Tractor Major Type Europe
Europe Agriculture Equipment Application Soybean
Tillage Equipment Export and Import in Europe Market
Tractor Financing Market Europe
Europe Farm Equipment Market
Europe Agriculture Machinery Market
UK Agriculture Equipment Market
Major Farm Equipment Manufacturer Europe
Major Farm Equipment Distributor Europe
Major Farm Equipment Importer Europe
Agriculture Equipment Industry Europe
Agriculture Equipment Market Europe
Agriculture Equipment Industry in Europe
Europe Agriculture Equipment Industry
Europe Agriculture Equipment Market Analysis
Europe Agriculture Equipment Market Size
Europe Agriculture Equipment Market Share
Europe Agriculture Equipment Market
For More Information On The Research Report, Refer To Below Link:-
Europe Agriculture Equipment Market
Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
