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(MoneyNewsWire.Net, June 06, 2018 ) 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 is segmented on the basis of type, design, crop type, and region. On the basis of type, the market is segmented into air seeders, seed drills, planters, and others (transplanters, broadcast seeders, and box drill seeders), among which the seed drills segment accounted for the largest market share in 2016. Seed drills are inexpensive and low in maintenance as compared to other types of seeders and planters. They are also compatible to small and medium sized farm land by acreage owing to which they are preferred.
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.
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The European region accounted for the largest market share followed by the North American region in 2016. This is due to better adoption of mechanized farming as compared to other regions, access to better research and development facilities, and favorable foreign direct investment (FDI) policies in agriculture.
The major restraining factors are less availability of bigger farm lands in the countries for large-scale fresh produce. The major restraining factor is less availability of consolidated agricultural lands for growing crops, which are required for contract farming; this restricts the usage of air seeders which generally requires large agricultural lands for planting of seeds.
The key players profiled in the planting equipment market are 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 Agrícolas’ (Brazil), Kasco Manufacturing Co., Inc. (U.S.), and Davimac Pty. Ltd. (Australia)
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