From Rustic to High-Tech: Modern Agriculture and Farm Machinery Revolutionizing Agricultureby John Warner Market Research
Even though agriculture and farming is viewed by many to be a picture of bucolic life, modern and advanced technology has made both these activities big business. The introduction of specialized, high-tech agriculture and farm machinery has revolutionized agricultural production in recent years, making harvesting processes easier and faster. Analysts at Transparency Market Research state that the global agriculture and farm machinery market is likely to expand at a healthy growth rate of 8.70% from 2015 to 2022. The market was pegged at a value of US$144.1 bn in 2014, which is estimated to rise to US$281.6 bn in 2022.
Mechanization Playing Massive Role in Driving Agriculture and Farm Machinery Market
Farm and agriculture equipment include a wide range of machinery and tools used to perform a number of processes that improve and increase output and enhance the quality of crops. In the recent past, mechanization of agriculture has tremendously changed the face of traditional agricultural practices, resulting in requirement of fewer laborers, saving time in various farm operations, enhancing the capacity of farmland, and efficiently utilizing inputs. Mechanization of agriculture and farm practices has received a tremendous boost from the government in the form of subsidies to farmers. This has greatly driven the global agriculture and farm machinery market.
Other factors that have contributed towards the development of the agriculture and farm machinery market include rise in global population, growing demand for food, and rising awareness about the importance of technology in maximizing agricultural output.
One of the main challenges, however, that the agriculture and farm machinery market faces is rapid urbanization mainly in developing countries. This has resulted in the decrease in farmland and total arable land. This not only restricts the overall growth of the agriculture industry but also limits the development of the global agriculture and farm machinery market.
Modern Japanese Machinery to Help Improve Agricultural Production in Vietnam
In December last year, Yanmar Corporation, a Japan-based agriculture and farm machinery maker joined hands with Vietnam’s Yanmar Agriculture Research Institute to boost the implementation of technology in the latter’s agriculture and farming sector. In an event organized by one of Vietnam’s top agricultural research universities, experts gathered to discuss the utilization and implementation of integrated technology in order to improve agricultural production and enhance the lives of farmers in the entire Southeast Asia region. Yanmar Corporation will be contributing by pushing research in a number of fields including agricultural machinery engineering.
The most prominent players contributing towards the growth of the global agriculture and farm machinery market include CNH Global NV, Yamabiko Corporation, Deere and Company, Mahindra & Mahindra Limited, CLAAS KGaA mbH, Alamo Group, Inc., AGCO Corporation, Same Deutz-Fahr, J.C. Bamford Excavators Limited, and Iseki & Co. Ltd.
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