Major players in the planting machines market are AGCO Corp., Bourgault Industries Ltd., Bucher Industries AG, CLAAS KGaA mbH, CNH Industrial NV, Deere & Co., ISEKI & Co. Ltd., Kubota Corp., Mahindra & Mahindra Ltd., and Yanmar Holdings Co. Ltd.
The global planting machines market is expected to grow from $38.97 billion in 2020 to $43.43 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $62.49 billion in 2025 at a CAGR of 9.5%.
The planting machines market consists of sales of planting machines by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing planting machines including precision planters (row crop), grain drills, broadcasters, potato planters, vegetable planters, and others.
In March 2020, Escorts Limited, a global Indian conglomerate, and automotive engineering corporation operating in Agri machinery, building & material handling, and railway equipment industries has acquired two crore equity shares of Kubota Agricultural Machinery from Kubota Corporation Japan for approximately $11.96 million (INR 90 crore). The acquisition aimed at expanding the product portfolio and geographical presence of Escorts Limited. Kubota Agricultural Machinery is a Japan-based agricultural equipment division of Kubota Corporation Japan which produces planting machines.
The planting machines market covered in this report is segmented by machinery into seed drill; planters; air seeders; others, by design into automatic; mechanical.
Major players operating in the market are focusing on introducing advanced technologies to decrease cost and boost production.The companies are introducing drones for planting seeds that addresses the labor shortage and also gives higher productivity.
For instance, in May 2020, XAG, a China-based company engaged in manufacturing agricultural drones launched a new drone for rice seeding, to relieve the shortage of labor in agriculture. Moreover, in September 2020, Dendra Systems, a manufacturer of global ecosystem restoration tools raised $10 million in Series A to restore the ecosystem by drone.
The workforce shortage in agriculture is expected to drive the planting machines market.An increase in urbanization followed by an increased high-level literacy rate has decreased the available personnel for farm work.
For instance, as per the National Bureau of Statistics China, the rural population has substantially reduced by 23% in the past two decades.According to the California Farm Bureau Survey released in May 2019, 40% of farmers in the past five years have been incompetent to obtain all the workers essential for the production of their crops.
The decrease in the rural population and the non-availability of the agriculture workforce made farmers and companies depend on advanced machines for planting the seeds and plants that further aids in the growth planting machines market.
Alternative food production methods are anticipated to hinder the planting machine market.New techniques like hydroponics, aeroponics, vertical farming, and lab-grown food have grown and are expected to grow more in the coming years as an alternative to the traditional method of agriculture.
For instance, Future Farms, a Chennai-based start-up reduced water consumption by 90% through hydroponic farms, while increasing yield by around four times. The high yield rate with less area and water, decrease in arable land, and water scarcity further propels the demand for alternative techniques which acts as a major restraint for the planting machines market’s growth.
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