Planting and Fertilizing Machinery: A Global Strategic Business Report
San Jose, CA (PRWEB) April 04, 2013
Follow us on LinkedIn – Planting and fertilizing machinery are primarily utilized for agricultural activities such as sowing of seeds, planting of seedlings and application of fertilizers. Years of technology advancements have transformed the engineering design and delivery system of seeding and fertilizing machinery. Currently, a wide variety of sophisticated planting and fertilizing machinery are available in the market suitable for use in a broad range of planting conditions, terrains and crop type. A major factor driving demand in the market is the growing adoption of mechanized farming practices worldwide. Other factors influencing growth in the market include farm income, commodity prices, product innovations, credit availability, government subsidies and scarcity of farm labor.
Farming activity during the 2007-2009 recession period was impacted, though moderately. The tough financial conditions resulted in an increase in farmer carryover debt and delinquency rates. Capital expenditure on farm machinery such as planting and fertilizing machinery was negatively impacted. In the year 2010, farming activity recovered in sync with the rise in global commodity prices. Favorable government policies also aided the recovery process. Increased commodity prices led to higher farm incomes, encouraging farmers to invest in farm equipment and machines. The long-term outlook for the global planting and fertilizing machinery market is positively guided by population growth and rising emphasis on food security and self- sufficiency, especially in developing countries. Declining production yields of cereals and oilseeds worldwide is expected to result in the expansion in land use for agricultural cultivation, thus benefiting market demand.
Rising farm consolidation in developed countries is expected to generate demand for larger machinery. Urbanization is a key factor responsible for consolidation of farms into larger farming plots. With shortages in farm labor supply, bigger equipment assumes mission critical importance in effectively managing large scale farm activities. Developed countries are expected to witness increased demand for high capacity sprayers. Sales of sprayers with capacity of over 1200 gallons are especially expected to witness robust growth. In the United States, new farms acquisitions are resulting in new demand for large size sprayers, as farmers seek to achieve operational benefits and cost advantages. Rapid technology developments like automatic boom section control and assisted steering and boom height control systems are also encouraging growth in the sprayers market.
As stated by the new market research report on Planting and Fertilizing Machinery, Asia-Pacific represents the leading market worldwide led by China and India. Low levels of agricultural mechanization and use of traditional inefficient farm equipment in these countries offer massive untapped opportunities for growth. Other factors expected to drive demand in Asia include continuous expansion in arable land encouraged by growing population and demand for food; growing pressure on farmers to improve land productivity and crop yields; and strong government intervention to develop the agricultural value chain. In the developed markets like North America and Europe, demand is forecast to stem primarily from replacements of old machinery. In addition to replacement demand, technological advances aimed at improving equipment efficiency will also spur growth.
Major players in the market include AGCO Corp, Buhler Industries Inc., CNH Global N.V., Deere & Company, Great Plains Ag, Iseki & Co., Ltd., Kasco Manufacturing, Kubota Corp., Kverneland Group, and Kuhn Group, among others.
The research report titled “Planting and Fertilizing Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market, current trends, growth drivers, new product introductions, recent industry activity, and focus on major global market players. The report provides annual sales estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Middle East & Africa, and Latin America.
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