(I-BusinessNews.Com, March 06, 2020 ) The planting equipment market is estimated at USD 15.82 Billion in 2017, and is projected to reach USD 21.43 Billion by 2022. The factors influencing the growth of the planting market are better and increased usage of mechanized equipment in farming over handheld equipment, reducing arable land for agriculture which leads to utilization of the available land for better yield, shortage of labor, and increased participation of corporates in the agriculture industry leading to increase in agreements for contract farming.
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The planting equipment market, by design, is segmented into automatic and mechanical. The mechanical segment accounted for a larger market share in 2016. This is due to the affordability of the equipment that are mechanical in nature, and their greater suitability in small-to-mid ranged farm land, by acreage.
The planting equipment market, by crop type, is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and others (turf and turf grasses). The cereals & grains segment accounted for the largest market share in 2016, due to increase in the area under cultivation for cereals and grains across the globe and better agricultural practices adopted by the farmers which involves the usage of seed drills in planting the seeds.
The mechanical segment accounted for the largest market share, by design, in 2016. The use of these equipment is not restricted by the topography of the farmland. Mechanical seeders or planters are also low on maintenance cost and the spare parts are easily available, which make them more affordable. The simpler design criteria also makes easier to understand the operation of the equipment.
The European region accounted for the largest market share, by region, in 2016, for the planting equipment market. The market in Europe is more wide spread among all the regions. The extensive R&D activities helped in the introduction of customized and crop-specific equipment. The distribution network of manufacturers is well-established in many countries. The government in many countries, as well as the regional bodies, have supported policies; for instance, Common Agricultural Policy (CAP) in Europe assists farmers to comply with sustainable agricultural practices by providing subsidies and financial aids to adhere to the strict regulations for agricultural products and equipment across Europe.
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The companies profiled in this report have a strong presence in the planting equipment market. The key players include Deere & Company (U.S.), AGCO Corporation (U.S.), Buhler Industries, Inc. (Canada), Kinze Manufacturing, Inc. (U.S.), Case IH Agricultural Equipment, Inc. (U.S.), Bourgault Industries Ltd. (Canada), Seed Hawk Inc. (Canada), SeedMaster Manufacturing Ltd. (Canada), Morris Industries Ltd. (Canada), Stara S/A Indústria de Implementos AgrÃÂcolas’ (Brazil), Kasco Manufacturing Co., Inc. (U.S.), and Davimac Pty. Ltd. (Australia).
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