Covid-19 Outbreak: Agricultural & Forestry Machinery Market 2024 – Company Business Overview, Sales, Revenue And Gross Margin, Recent Development 2027

COVID-19 Lockdown Exemptions for Agricultural Machinery Shops Reduce Stress on Supply Chains

Lockdown relaxations in orange and green zones of India’s several states are bearing a positive news for companies in India’s agricultural & forestry machinery market amidst the coronavirus (COVID-19) outbreak. Since agriculture is one of the primary revenue-generating industries of India, lockdown relaxations are offering a relief to farmers that will help reduce the stress on supply chains. However, heads of agricultural organizations are instructed to ensure proper hygiene measures and social distancing norms among farm workers.

Shops of agricultural & forestry machineries and spare part & repair shops have been exempted from lockdown norms to facilitate farm produce. Such constructive measures by the Indian Government are benefitting equipment manufacturers in the agricultural & forestry machinery market. Even the tea industry is allowed to conduct plantations with a functional workforce of maximum 50 percent.

agricultural forestry machinery market infographic

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Driverless Tractors Overcome Challenges of Furrows and Eliminate Need for Drivers

There is a growing demand for low-cost innovations in the agricultural & forestry machinery market. This demand has led to innovations in driverless tractors. For instance, the driverless tractor introduced by Yogesh, a first-year engineering student in Rajasthan, India, is gaining increased recognition in India’s agricultural & forestry machinery market that eliminates the costs associated with hiring a driver. India, being one of the leading economies in Asia Pacific, is contributing toward its highest estimated revenue among all regions by the end of 2030, with a global market value reaching ~US$ 400 Bn. Hence, companies in the market for agricultural & forestry machineries should collaborate with budding engineering talents to further innovate in driverless tractors.

Driverless tractors are also being highly publicized for uniformly ploughing the fields. Even a slight acceleration or sudden brake by the driver results in furrows that are too deep or too shallow. Hence, companies in the agricultural & forestry machinery market should increase the availability of driverless tractors to overcome such challenges of tractor owners.

Small Hybrid Forest Harvesters Deliver Fuel Efficiency in Modern Forestry Applications

Hybrid forest harvesters are gaining increased popularity for their fuel efficiency. For instance, Logset Oy— a Finnish forest machine manufacturer, is gaining global recognition for its 8H GTE hybrid harvester that is improving ergonomics for operators in the agricultural & forestry machinery market. As such, companies in the market for agricultural & forestry machineries are participating in international trade events and exhibitions to gain increased visibility and acknowledgment in the global market landscape.

Small design hybrid harvester models are being increasingly talked about in the agricultural & forestry machinery market, after the wheel-based harvesters. Manufacturers in the market for agricultural & forestry machineries are increasing efforts to meet the demand for sustainable, productive, and economical solutions for the modern forestry industry. Hence, they are increasing their R&D efforts to introduce small and compact harvesters with electric motors and supercapacitors that are used for energy storage.

Sustainable Wood Production and Smart Logging Applications Gain Prominence in Europe

Forests play a crucial role in the procurement of building materials and biomass to deploy renewable energy. Hence, the European Union’s Horizon 2024 research and innovation program, announced the launch of a €3 Mn undertaking for the Forwarder2020 project to strike the right balance between commercial applications and the need to safeguard forest covers. Thus, the trend of sustainable wood production and smart logging is gaining popularity in the agricultural & forestry machinery market. Hence, companies in the market for agricultural & forestry machineries are manufacturing forwarders that help to reduce fuel consumption and lower the impact of the machine on the soil in order to deploy sustainable logging.

Reduced ground pressure under the wheels of forwarders offering high travel speeds are some of the key focus points for equipment manufacturers of the agricultural & forestry machinery market.

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Agricultural & Forestry Machinery Market: Overview

  • According to the latest market report published by Transparency Market Research on the agricultural & forestry machinery market for the period 2020–2029 (wherein 2020 to 2029 is the forecast period and 2019 is the base year), increase in mechanization in the agricultural & forestry sector across the globe is expected to drive the agricultural & forestry machinery market
  • Globally, revenue generated by the agricultural & forestry machinery market stood at US$ 209.5 Bn in 2019, which is expected to expand at a CAGR of ~6% in terms of value during the forecast period

Increasing Mechanization of Farming & Forestry Operations: A Key Driver of Agricultural & Forestry Machinery Market

  • The agricultural & forestry machinery market is driven by increasing adoption of farm machinery for mechanization of farming operations. The mechanization of farming operations results in increased production and profitability by achieving timeliness in farming operations. This in turn helps farmers in optimum utilization of costly inputs such as fertilizers, seeds, and irrigation. Farm mechanization also helps in the preservation of farm produce, which further improves profitability by reducing post-harvest losses.
  • Traditionally, forestry activities were performed manually with a large labor force. However, with increasing urbanization and industrialization and mechanization in forestry, labor force is being replaced by forestry machinery. In addition, increasing government subsidies to promote farm and forestry production has resulted in rising mechanization across the globe, thereby improving the quantity of agricultural & forestry produce.
  • Demand for food is expected to rise substantially, owing to the significant increase in global population during the forecast period. Rising food demand has encouraged the adoption of advanced farming and forestry practices to increase crop yields, which is further resulting in the demand for agricultural machinery globally.
  • Rising demand for food and forestry products, owing to the growing global population has led to innovation in agricultural & forestry practices worldwide. Machinery such as tractors and harvesters are used in plowing and harvesting, which in turn, increases productivity.
  • Machinery manufacturers such as Deere & Company are focusing on developing advanced machinery, which can be utilized to increase productivity to the highest possible value
  • Increasing awareness about the importance of technology in agriculture and forestry practices is one of the major factors driving the growth of the agricultural & forestry machinery market globally. Integration of advanced technologies such as GPS tracking and telematics system in machinery is further expected to revolutionize the agriculture & forestry industry. This is likely to drive the agricultural & forestry machinery market over the next few years.