Plows Global Market Report 2024

The plows market size has grown strongly in recent years. It will grow from $0.99 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion in the historical period can be linked to the growth of agriculture and its mechanization, the increase in population and subsequent demand for food, a transition toward commercial farming practices, government support, and agricultural policies, as well as the influence of weather patterns and seasonal variations.

The plows market size is expected to see strong growth in the next few years. It will grow to $1.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated expansion in the forecast period can be ascribed to the increasing adoption of precision agriculture practices, the rise of sustainable and conservation farming methods, the growing mechanization of farming in emerging markets, an emphasis on soil health and improved crop yields, and the adaptation to climate change. Notable trends expected in the forecast period include advancements in materials, the implementation of remote monitoring and control systems, enhanced connectivity, the utilization of precision snow removal technology, and the adoption of subscription-based models.

The anticipated increase in population, driving the demand for agricultural products, has played a significant role in the growth of the plows market. As per the United Nations Organization, the global population is projected to reach 9.7 billion by 2050, up from 7.7 billion in 2020. This population growth is expected to lead to higher food consumption, thereby boosting the demand for the agriculture sector and agricultural products such as plows. Over the next 30 years, the projected population growth is foreseen as a key factor contributing to the growth of the plows market during the forecast period.

The expansion of farm sizes is poised to drive the plow market in the foreseeable future. A farm, characterized as an area of land and its buildings primarily used for food production and management, experiences the use of plows to turn and break up soil in preparation for planting. For example, according to the United States Department of Agriculture in February 2022, the average farm size in the USA increased to 445 acres in 2021, marking a slight rise from 444 acres in 2020. Consequently, the growing sizes of farms are a substantial driver for the plow market.

Fluctuations in raw material prices for manufacturing agricultural equipment, including plows, are expected to impose limitations on the growth of the plows market. The variability in raw material costs is influenced by factors such as cost-push and demand-pull. Steel, a crucial raw material for manufacturing agricultural tools such as plows, is subject to price fluctuations based on the availability of iron ore and coking coal. The COVID-19 pandemic has caused disruptions in the supply chain, leading to an iron ore shortage. In response, many steel companies in India increased prices for the third time since the start of the pandemic. This fluctuation in raw material prices for equipment manufacturing can impact the selling price of plows, posing a negative impact on the plows market.

Prominent companies in the plow market are introducing innovative plows, such as the Servo T 6000, designed for hitching up to 500hp tractors. The Servo T 6000 is an advanced plough featuring a redesigned main beam section and a new Nova stone protection system for optimized reliability. Pottinger, an Austria-based agricultural machinery manufacturer, launched the Servo T 6000 in November 2021. It offers variants with furrows ranging from six to nine, incorporating hydraulic stone protection with an adjustable triggering pressure of up to 2,200kg. The design ensures continuous ploughing, provides choices in point-to-point spacing and underframe clearance, and offers an optional active traction control system for enhanced weight transfer from the plough to the tractor. This plough is specifically designed for hitching to tractors with up to 500hp.

Major companies in the plow market are also introducing autonomous farming systems such as the Combined Powers to address the shortage of skilled labor in agriculture. The Combined Powers is a concept vehicle designed to autonomously perform various farming operations, including plowing, cultivating, and sowing. In August 2023, Apex.AI collaborated with Bernard KRONE Holding SE & Co. KG and Lemken GmbH to introduce commercial-ready autonomous farming systems under their Combined Powers concept vehicle. This groundbreaking autonomous farming system is capable of executing tasks such as plowing, cultivating, and sowing independently. The companies are transitioning this vehicle from its initial design to full production using Apex.AI's software tools, namely Apex.Grace and Apex.Ida.

In February 2022, Agrisolutions, a US-based farm equipment manufacturer, successfully acquired Chicago Fastener Manufacturing (CFM) for an undisclosed amount. This strategic acquisition is poised to enhance Agrisolution's market positioning in the U.S. Chicago Fastener Manufacturing (CFM) is a US-based manufacturer specializing in cold-headed metal fasteners.


Major companies operating in the plows market report are CNH Industrial India Pvt. Ltd., AGCO Corporation, Deere & Company, BEDNAR FMT s.r.o., UNIVERSAL TRUCK EQUIPMENT INC., ISEKI & CO. LTD., KUHN SAS, Douglas Dynamics LLC, BOSS Snowplow, Amazonen-Werke G. Dreyer Maschinenfabrik GmbH, Woods Equipment Company, Western Products LLC, Meyer Products LLC, Fisher Engineering, Kongskilde Industries A/S, Monashee Manufacturing Corp., PJB Industries Inc., Bomet Sp. z o.o. Sp.K, Agrimir, Baldan Machinery, AGRO-MASZ Agriculture sp. z o.o., Aratri EMMEGIEMME Srl, Ünlü Ziraat Aletleri A.S, FALC S.p.A., BLIZZARD Snow Plow, Ebling Manufacturing Inc., Sno-Gate, KAGE Manufacturing LLC, Falls Legal LLC, Kubota Corporation, Mahindra & Mahindra Ltd. The Asia-Pacific was the largest region in the plows market in 2023. North America was the second largest region in the global plows market share. The regions covered in the plows market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types of plows include reversible plows, disc plows, ridge plows, chisel plows, and moldboard plows. A chisel plow is specifically a soil tillage device pulled by a tractor or animal, serving to break up and stir soil at a depth of a foot or more beneath the surface without inverting it. Plowing technologies encompass both classic and modern approaches, while applications extend to use on large farms as well as private farms.

The plows market research report is one of a series of new reports that provides plows market statistics, including plows industry global market size, regional shares, competitors with a plows market share, detailed plows market segments, market trends, and opportunities, and any further data you may need to thrive in the plows industry. This plows market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the plows market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The plow market consists of sales of single-furrow plows, double-furrow plows, and multiple-furrow plows. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.