Global Electrified Agriculture and Forestry Equipment Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Advancements Such as Gps-Based Tracking, Telematics, Remote Sensing, and Automation Are Driving the Market

The Global Electrified Agriculture and Forestry Equipment Market is estimated to be USD 289.03 Bn in 2023 and is expected to reach USD 356.92 Bn by 2028 growing at a CAGR of 4.31%.

• Agriculture equipment includes manufactured items or machinery that increase land yield in agro-based economies worldwide. The tools immediately encourage landowners' or farmers' propensity to incorporate automation technologies into conventional farming practices. Customers have been urged to use the advantages of updated equipment in farming applications by the growing shortage of human labor and the high cost of maintaining livestock on the job site in many nations.
• Drivers, Environmental Concerns, and Regulations: Growing environmental concerns and regulations promoting sustainable agriculture drive the adoption of electrified, cleaner, and more eco-friendly equipment.
• Government Incentives: Government incentives, especially post-pandemic policies, support the rapid adoption of agricultural mechanization and electrified equipment. Initiatives such as ethanol procurement encourage demand.
• Cost Efficiency: Electrified agriculture equipment offers cost efficiency by reducing overall operational costs and improving crop yields. Efficiency gains come from the even distribution of fertilizers and nutrients.
• Restraints, Infrastructure Limitations: The insufficient charging infrastructure for electrified equipment can be a significant restraint. The availability of charging stations is crucial for widespread adoption.
• Education and Training Needs: Operating and maintaining electrified equipment requires specialized knowledge and skills. A shortage of trained personnel can hinder adoption.
• Opportunities, Rural Electrification Initiatives: Rural electrification projects can provide the necessary infrastructure for electrified agriculture equipment, fostering growth in rural areas.
• Customization and Innovation: There are opportunities for customization and innovation in electrified agriculture equipment. Tailoring solutions to specific agricultural needs can enhance adoption.
• Challenges, Limited Charging Infrastructure: The lack of a robust charging infrastructure network challenges electrified agriculture equipment users, limiting their operational flexibility.
• Specialized Knowledge and Skills: The specialized knowledge and skills required for maintaining and repairing electrified equipment can be a barrier, as it may lead to dependence on a limited pool of experts.

Market Segmentations

• The Global Electrified Agriculture and Forestry Equipment Market is segmented based on Type, Automation, Business, and Geography.
• Tractors: The electric tractors in this section are utilized for various agricultural jobs. Equipment used in agriculture and forestry for soil preparation and cultivation is referred to as 'soil preparation and cultivation.
• Electric equipment spraying insecticides, herbicides, and fertilizers falls under this category.
• Machines for hay and forage production are known as hay and forage machines.
• Equipment falling under this category must be operated manually. Semi-Automatic: these machines are only partially automated and still need human input. All of the equipment in this category is entirely automated and runs without much manual labor.
• The global market for electrified agricultural and forestry equipment by industry. Original Equipment Manufacturers (OEMs): This group comprises those supplying equipment as a component of their core product lines. Equipment and services delivered after the initial sale, such as maintenance and support, are called aftersales.
• Asia-Pacific will dominate the market for powered agricultural equipment in 2022. The powered farm equipment market analysis report also covers the Middle East, Africa, North America, South America, Western Europe, and Eastern Europe. With an emphasis on Asia-Pacific as the largest market region in 2022, this segmentation enables a thorough analysis of the electrified agriculture and forestry equipment market, considering equipment type, automation level, business models, and regional differences.

Recent Development

• H&R Agri Power acquired Kubota’s dealership located in McMinnville, Tennessee. The company’s 20th and 7th most important locations would broaden its market in this region. The newly acquired dealership would help to acquire a larger consumer base with dealership network expansion and diverse product offerings. - April 2023
• John Deere widened its tractor lineup with the newly added 5EN and 5ML Series. Tractors are highly efficient in operating narrow orchards and vineyards and would enable monitoring, managing, and maximizing performance with higher profitability from businesses. - November 2022
• AGCO Corporation, a leading global distributor and manufacturer of agriculture equipment, machinery, and precision agriculture technology, acquired JCA Industries, Inc., a leading provider of autonomous software for farm equipment and electronic systems. The acquisition would allow AGCO Corporation to utilize JCA technologies precision agriculture software in its agriculture machinery, which will improve the experience of customers of AGCO Corporation. - May 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Fisher and Company, Escorts Limited, AGCO Corporation, China National Machinery Industry Corporation, Concern Tractor Plants, Mahindra Group, Same Deutz-Fahr Group, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

• Ansoff Analysis
• The report presents a detailed Ansoff matrix analysis for the Global Electrified Agriculture and Forestry Equipment Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electrified Agriculture and Forestry Equipment Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electrified Agriculture and Forestry Equipment Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market