Western and Central Europe Agricultural Machinery Market, Exclusive Report by P&S Intelligence
NEW YORK, March 16, 2022 /PRNewswire/ — Driven by the extensive government support for farm mechanization, the Western European agricultural machinery market will grow from an estimated $37,189.4 million in 2021 to $51,758.7 million by 2030, at a 3.4% CAGR between 2021 and 2030. Similarly, the Central European agricultural machinery market size will increase to $18,853.4 million from an estimated $12,489.2 million, at a 4.3% CAGR. According to the market research report published by P&S Intelligence. Because of the rapid urbanization, which is resulting in a reduction in arable land, governments are taking initiatives to help farmers get more from the land they own.
For instance, in France, the government offers $10 billion (EUR 9 billion) to the agrarian community to help them purchase equipment and advanced software that can automate many of the manual agricultural tasks. Another key reason behind the swift automation of the farming sector is the shortage of laborers, which is resulting in higher wages. For instance, in May 2020, there was a shortage of 200,000; 80,000; and 250,000 farm workers in May 2020 in France, Spain, and Italy, respectively.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/western-central-europe-agricultural-machinery-market/report-sample
Key Findings of Western and Central Europe Agricultural Machinery Market Report
- Tractors are the most widely sold among all pieces of equipment in the Western and Central European agricultural machinery market because they allow farmers to plow and pull heavy machinery across large tracts of land.
- Therefore, with over 180 million hectares of arable land, Europe displays a vast potential for the usage of tractors in the coming years.
- After the pandemic hurt the farming community in 2020, the demand for agricultural machinery picked up in 2021, and it is set to follow a similar trend in the coming years.
- This is ascribed to the resurgence of the GDP and the funds granted for digital transformation under the EU’s Recovery and Resilience Facility (RRF) initiative.
- All this is ultimately being done to feed the growing population in EU countries, which has increased from 356 million in 1990 to 447 million in 2020, as per the World Bank.
- Therefore, companies offering farming machinery are launching more-advanced tractors, equipment with battery propulsion, and machines with internet connectivity, to accelerate farm mechanization.
The Western and Central European agricultural machinery market is dominated by Germany and the Netherlands, respectively. The revenue in the German market comes from both domestic and international customers since the country is a major exporter of agricultural machines. Similarly, even though agriculture contributes merely around 2% of the Dutch GDP, it is responsible for more than 15% of the country’s exports.
Browse detailed report on Western and Central Europe Agricultural Machinery Market Growth and Business Opportunities 2022 to 2030
The key players in the Western and Central European agricultural machinery market are CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, AGCO Corporation, Kubota Corporation, Argo Tractors Spa, Lely Industries N.V., KUHN Group, Yanmar Co. Ltd., and SDF S.p.A. Apart from key food crops, they are introducing enhanced equipment for the producers of cash crops as well, such as grapes.
- Western Europe
- Central Europe
- Czech Republic
- Belgium & Luxembourg
Browse More Reports
Global Agricultural Drones Market – North America was the largest agricultural drones market in 2018. This is ascribed to the declining skilled agricultural labors and the rising need to increase agricultural output in the region. To overcome the shortage of labors, farmers are increasingly deploying agricultural drones, which help in reducing operation costs and improving crop productivity.
Global Construction Equipment Market – Geographically, the APAC construction equipment market will generate the highest revenue in the foreseeable future. As construction projects are the backbone of economic development, a boom in the construction sector is a key contributor to the market growth in the region.
Global Agricultural Ventilation Fans Market – Globally, the Asia-Pacific region is expected to register the fastest growth in the agricultural ventilation fans market throughout the forecast period. This will be on account of the soaring per capita income, rising need for transgenic crops, and burgeoning food demand, owing to the booming population, in the region.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Email: [email protected]
Follow Us: LinkedIn Twitter
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.