UK Agriculture Equipment Market Report 2023-2028: Increased Farm Mechanization Drives Sector
DUBLIN, Feb. 17, 2023 /PRNewswire/ — The “UK Agriculture Equipment Market – Industry Analysis & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The UK agricultural equipment market is growing at a CAGR of 3.59% during 2022-2029. The UK accounted for around 9% of the agricultural equipment sold in Europe in 2022. This represents that the UK market provides a significant opportunity to OEMs for agriculture equipment sales. In 2022, the tractor segment accounted for the largest market share of the overall industry by equipment type.
The agriculture equipment market in the UK experienced growth from 2014 to 2018. However, the industry witnessed a sharp decline from 2019 to 2020, and the domestic agricultural equipment industry declined due to the COVID-19 pandemic. Further, the demand for agriculture equipment is highly dependent on the annual rainfall in the country. Several original equipment manufacturers (OEMs) shifted their focus from matured markets in England to the underpenetrated states of Scotland. The UK agricultural equipment market is currently in the growth stage, and manufacturers are looking for capacity augmentation. Wales has little farm mechanization, and vendors can penetrate the market with a portfolio of small equipment suitable for hilly terrains.
Governments must adopt effective and sustainable farming practices to ensure food security and safety. Developed countries implement the concept of precision agriculture to increase productivity, while the level of agricultural mechanization is still low in developing countries. The focus on agricultural mechanization will increase the demand for agriculture equipment and the sense of accuracy in farming using technologically advanced equipment in the UK.
- The UK has over 68.9 million food consumers and is the fourth-largest food market in Europe. The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
- The agriculture equipment industry in the UK grew by 2.3% in 2022 from 2021. The increase in crop production and agricultural equipment sales was due to the favorable climate in 2022.
- The UK government plans schemes and initiatives to facilitate credit and improve agriculture-related operations, which will contribute to the growth of the UK agricultural equipment market.
Market Opportunities & Trends
- Technological Advances in Agricultural Equipment Technology
- Swath Control and Variable Rate Technology
- High Demand for Autonomous Equipment
- Shortage of Agricultural Laborers
- Use of Energy-Efficient Agri Equipment
- Use of Non-Conventional Fuels in Tractors
Market Growth Enablers
- Assistance for Farmers Through Loans & Subsidies
- Increased Agricultural Productivity & Exports
- Agricultural Exports
- Increased Farm Mechanization
- Lack of Awareness of Latest Innovations in Agricultural Equipment
- Lack of Education Among Farmers in the UK
- High Demand for Used & Rental Agri Equipment
- Fluctuations in Commodity Prices
INSIGHTS BY EQUIPMENT TYPE
The tractor segment of the UK agricultural equipment market witnessed shipments of 13,857 units in 2022. And accounts for more than 47% of the share in the equipment type segment. The demand for high-power tractors is largely driven by large-scale farmers and government institutions focusing on rental services, as there are many farmers in the country with land over 10 hectares. Large-scale farmers in the country have high purchasing power and can afford more expensive and advanced equipment. A hike in demand for tractors is predicted in 2024-2025 due to changes in emission rules coming into effect by the end of 2022. This will permit the use of old or high-emission tractors in the country after that. Farmers will, therefore, have to opt for the new advanced tractors, hence boosting the tractor segment of the UK agricultural machinery market.
The planting equipment segment of the UK agricultural equipment market is expected to grow at a CAGR of 3.59% during the forecast period. The demand for planting equipment in the nation will rise as the agricultural industry expands. The conventional sowing technique has been replaced with planting machinery. In hand sowing, it can be challenging to distribute seeds with consistency and accuracy. Equipment for planting provides consistency in less time. Planting equipment has made work simpler, easier, and much more productive. The agriculture industry has seen a substantial increase in production and efficiency because of automation. The UK agricultural equipment market for planting equipment is primarily driven by improved efficiency, simple processing, and enhanced production.
Segmentation By Equipment Type
- Tractors (Horsepower and Wheel-Drive)
- Planting Equipment (Seeder, Planter, and Transplanter)
- Tillage Equipment (Plough, Harrow, and Tiller)
- Harvesting Equipment (Combine Harvester and Self-Propelled Forages)
- Mowing Equipment (Mower and Windrower)
- Others (Loaders and Balers)
INSIGHTS BY APPLICATION TYPE
The post-harvesting segment of the UK agricultural equipment market witnessed shipments of 12,082 units in 2022 and is the largest application type segment. Farmers use the related post-harvest machinery and equipment and can transform themselves from more produce to producer-cum-processor. With the help of post-harvest technologies appropriate for cost, time, and labor savings towards enhancement of quality and marketability to their produce by value addition and by-products utilization, in addition to reducing post-harvest costs.
Key objectives of post-harvest technology are:
- Reduce damage in quantity or volume and the product’s qualitative or nutritional value.
- To increase the shelf life of the crops.
- To maintain the excellent quality of the produce (color, flavor, taste, aroma).
Segmentation By Application Type
- Land Development and Seed Bed Preparation
- Sowing and Planting
- Plant Protection
- Harvesting and Threshing
- Post Harvesting
- John Deere
- CNH Industrial
Other Prominent Vendors
- Foton Motor
- ISEKI & Co., Ltd.
- Arbos Group
KEY QUESTIONS ANSWERED
- How big is the UK agricultural equipment market?
- What is the growth rate of the UK agricultural equipment market?
- What are the expected units sold in the UK agricultural equipment market by 2028?
- Which application type holds the largest UK agricultural equipment market share?
- What are some significant trends in the UK agricultural equipment market?
- Who are the key players in the UK agricultural equipment market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
7 Premium Insights
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Equipment Type
14 Application Type
15 Competitive Landscape
16 Key Company Profiles
17 Other Prominent Vendors
18 Report Summary
19 Quantitative Summary
A selection of companies mentioned in this report includes
- John Deere
- CNH Industrial
- Foton Motor
- ISEKI & Co., Ltd.
- Arbos Group
For more information about this report visit https://www.researchandmarkets.com/r/w0wezo-agriculture?w=5
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