Global In-furrow Equipment Market Size is estimated to be valued at over US$ 800 Million in 2022– and is expected to register a CAGR of above 6.0% between 2021 and 2030. In-furrow equipment market is expected to surpass 1,000 Mn by end of 2026, primarily due to factors such as inclusion of innovative and advanced technologies in the planting and sowing segment, and support from governments in developing countries, in the form of subsidies, low rates, etc., for adopting farm mechanization.
In-furrow equipment Competition Landscape
In 2022, the top nine in-furrow equipment manufacturers are John Deere Company, AGCO Corporation, Buhler Industries, Inc., Kinze Manufacturing Inc., Case IH Agricultural Equipment Inc., Bourgault Industries Ltd., Seed Hawk Inc., SeedMaster Manufacturing Inc., and Morris Industries Ltd. These players are currently focusing on new product launches and partnerships.
Companies are focusing on developing and designing equipment that are economical and multi-utility products considering large prevalence of marginal holdings worldwide. Key players focus on introducing new products through launches in order to broaden their solution offerings and cater to wider set of audiences and their requirements.
- In August 2021, AGCO Corporation announced the launch of its Massey Ferguson VE Series Planters. The VE Series is available in a variety of row-unit and spacing combinations, including six, eight, 12, 16, 23, 24 and 36 rows and spacings of 15, 20, 22, 30, 36, 38 and 40 inches.
Key Trends and Factors Driving In-furrow equipment System Market
- IoT & AI Enabled Equipment: AI are being used in order to develop machines or systems that can act and respond as humans do. Algorithms that are programmed based on historical and real-time data can aid smart or precision farming on field. Several farming processes can be enabled with AI that can improve accuracy and productivity.
In-furrow equipment Market Analysis, By Segments
- On the basis of opener type, global in-furrow equipment market is segmented into single shoot opener, double shoot opener, others. double shoot opener segment is estimated to register highest growth rate during the forecast period.
- By crop, the global in-furrow equipment market is segmented into corn, wheat, soybean, sorghum, other cereal and grain types, oilseeds and pulses, fruits and vegetables, and other crop type. Corn segment accounted for the largest revenue share in 2022.
In-furrow equipment Market Analysis, By Region
North America dominated the global In-furrow equipment market, with an estimated revenue share of above 45% in 2022. The region is expected to lose market share to Asia Pacific and Western Europe. While North America dominated the global share, Asia Pacific is expected to register fastest CAGR of above 9% during the forecast period. The region will generate over 2 X higher revenue opportunity between 2021 and 2030.
In Asia Pacific, China will continue to dominate the In-furrow equipment market share during the forecast period. China In-furrow equipment market is estimated to be valued at over US$ 50 Million in 2022.
In Western Europe, physical In-furrow equipment dominated the total sales. Majority of the sales was witnessed in Germany.
Leading In-furrow equipment Players in the Market
Some of the key companies covered in the report are:
- John Deere Company
- AGCO Corporation
- Buhler Industries, Inc.
- Kinze Manufacturing Inc.
- Case IH Agricultural Equipment Inc.
- Bourgault Industries Ltd.
- Seed Hawk Inc.
- SeedMaster Manufacturing Inc.
- Morris Industries Ltd.
What Will You Discover in the Report?
- An in-depth analysis of the In-furrow equipment market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the In-furrow equipment market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the In-furrow equipment market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the In-furrow equipment industry during the forecast period
- Who are the In-furrow equipment industry leaders and what are the key initiatives taken by them for long term growth.
Analyst access with Bekryl Market Analysts
Purchasing of In-furrow equipment market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.