Soil Aerators Market worth 33.01 Billion USD by 2023
by Mit K. SEOThe
soil
aerators market is estimated to be valued at USD 24.03
Billion in 2018 and is projected to reach USD 33.01 Billion by 2023, at a CAGR
of 6.6%. The market is driven by the global increase in mechanization in
farming, shrinking arable land, growth in net farming income, and rapid
increase in commercial and residential space, leading to the growing demand for
landscaping.
Some
of the Prominent Key Players are:
- Deere & Company (US)
- Alamo (US)
- AGCO Corporation (US)
- CNH Industrial (UK)
- Mahindra & Mahindra (India)
- Bucher Industry (Switzerland)
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The
soil aerators market, by equipment, is estimated to be dominated by the
secondary tillage. The demand for this segment comes primarily from the
agricultural industry. There are various kinds of secondary tillage equipment,
namely, harrows, cultivators, and rollers & pulverizers, which are used to
decompact soil efficiently in a lesser time. Government initiatives in the
agricultural industry in order to achieve accurate yield to feed the increasing
population is the most influential driver for the largest market share of this
segment in the soil aerators market.
The
soil aerators market, by application, is projected to be dominated by the
agriculture segment during the forecast period. The dominance of agriculture in
soil aerators is attributable to the increase in large-scale holdings of
farmers in most developed countries and an increasing trend of farm
mechanization in developing countries. The rapid increase in population growth
and increasing demand for food, with shrinking arable land, are expected to
drive the soil aerators market growth.
The
mounted segment is estimated to dominate the mode of operation segment for soil
aerators in 2018 and is also projected to be the fastest-growing from 2018 to
2023. Low turnaround time, higher accuracy, availability of large land holdings
for cultivation, specifically in North America and Europe are the factors
driving the market for the mounted mode of operation.
The
Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023.
Major growth drivers of the region include the adoption of smart, mechanized
aerators owing to technological advancements in countries such as India, China,
and Japan. In addition, factors such as an increase in footfall, overgrazing by
livestock, the pressure exerted by heavy equipment, climatic conditions, strong
government support through subsidies, and increased productivity requirements
also drive the soil aerators market in the region.
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Created on Feb 5th 2021 08:13. Viewed 189 times.