COVID-19 Lockdown Exemptions for Agricultural Machinery Shops Reduce Stress on Supply Chains
Lockdown relaxations in orange and green zones of India’s several states are bearing a positive news for companies in India’s agricultural & forestry machinery market amidst the coronavirus (COVID-19) outbreak. Since agriculture is one of the primary revenue-generating industries of India, lockdown relaxations are offering a relief to farmers that will help reduce the stress on supply chains. However, heads of agricultural organizations are instructed to ensure proper hygiene measures and social distancing norms among farm workers.
Shops of agricultural & forestry machineries and spare part & repair shops have been exempted from lockdown norms to facilitate farm produce. Such constructive measures by the Indian Government are benefitting equipment manufacturers in the agricultural & forestry machinery market. Even the tea industry is allowed to conduct plantations with a functional workforce of maximum 50 percent.
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Driverless Tractors Overcome Challenges of Furrows and Eliminate Need for Drivers
There is a growing demand for low-cost innovations in the agricultural & forestry machinery market. This demand has led to innovations in driverless tractors. For instance, the driverless tractor introduced by Yogesh, a first-year engineering student in Rajasthan, India, is gaining increased recognition in India’s agricultural & forestry machinery market that eliminates the costs associated with hiring a driver. India, being one of the leading economies in Asia Pacific, is contributing toward its highest estimated revenue among all regions by the end of 2030, with a global market value reaching ~US$ 400 Bn. Hence, companies in the market for agricultural & forestry machineries should collaborate with budding engineering talents to further innovate in driverless tractors.
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Driverless tractors are also being highly publicized for uniformly ploughing the fields. Even a slight acceleration or sudden brake by the driver results in furrows that are too deep or too shallow. Hence, companies in the agricultural & forestry machinery market should increase the availability of driverless tractors to overcome such challenges of tractor owners.
Small Hybrid Forest Harvesters Deliver Fuel Efficiency in Modern Forestry Applications
Hybrid forest harvesters are gaining increased popularity for their fuel efficiency. For instance, Logset Oy— a Finnish forest machine manufacturer, is gaining global recognition for its 8H GTE hybrid harvester that is improving ergonomics for operators in the agricultural & forestry machinery market. As such, companies in the market for agricultural & forestry machineries are participating in international trade events and exhibitions to gain increased visibility and acknowledgment in the global market landscape.
Small design hybrid harvester models are being increasingly talked about in the agricultural & forestry machinery market, after the wheel-based harvesters. Manufacturers in the market for agricultural & forestry machineries are increasing efforts to meet the demand for sustainable, productive, and economical solutions for the modern forestry industry. Hence, they are increasing their R&D efforts to introduce small and compact harvesters with electric motors and supercapacitors that are used for energy storage.
Sustainable Wood Production and Smart Logging Applications Gain Prominence in Europe
Forests play a crucial role in the procurement of building materials and biomass to deploy renewable energy. Hence, the European Union’s Horizon 2020 research and innovation program, announced the launch of a €3 Mn undertaking for the Forwarder2020 project to strike the right balance between commercial applications and the need to safeguard forest covers. Thus, the trend of sustainable wood production and smart logging is gaining popularity in the agricultural & forestry machinery market. Hence, companies in the market for agricultural & forestry machineries are manufacturing forwarders that help to reduce fuel consumption and lower the impact of the machine on the soil in order to deploy sustainable logging.
Reduced ground pressure under the wheels of forwarders offering high travel speeds are some of the key focus points for equipment manufacturers of the agricultural & forestry machinery market.
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Analysts’ Viewpoint
The Association of Equipment Manufacturers (AEM), North America, is urging the government to streamline existing manufacturing programs amidst the COVID-19 crisis. Driverless tractors are being associated with work and cost cuts for farm owners.
The agricultural & forestry machinery market is estimated to progress at a CAGR of ~6% during the forecast period. However, the need for sustainable, productive, and economical machinery solutions are not being met in all countries of the market. Hence, companies should indulge in development programs such as innovate in hybrid harvesters that offer fuel and ergonomic efficiency. Several workers have associated themselves with forestry development projects to buy forwarders that are comfortable and reliable in operation.
Agricultural & Forestry Machinery Market – Scope of the Report
A new study on the global agricultural & forestry machinery market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global agricultural & forestry machinery market across the globe. TMR’s study offers valuable information about the global agricultural & forestry machinery market to illustrate how the market would grow during the forecast period 2020–2029.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global agricultural & forestry machinery market during the forecast period.
An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global agricultural & forestry machinery market. This can help readers understand principal factors to foresee growth in the global agricultural & forestry machinery market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global agricultural & forestry machinery market, which is expected to guide market players in making apt decisions in the future.
The study discusses the underlying trends and impact of various factors that drive the global agricultural & forestry machinery market, along with their influence on the evolution of the market.
The study also offers Porter’s Five Force analysis, value chain analysis, price trend analysis, and SWOT analysis of the global agricultural & forestry machinery market in order to highlight the crucial growth tactics and opportunities for market players.
Key Questions Answered in This Report on Agricultural & Forestry Machinery Market
- How much revenue will the agricultural & forestry machinery market generate by the end of the forecast period?
- What type of agricultural & forestry machinery is likely to gain the maximum market share by 2029?
- What regions currently contribute the maximum share to the overall agricultural & forestry machinery market?
- What are the indicators expected to drive the global agricultural & forestry machinery market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global agricultural & forestry machinery market to expand their geographical presence?
- What are the major advancements witnessed in the global agricultural & forestry machinery market?
This report answers these questions and more about the global agricultural & forestry machinery market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Agricultural & Forestry Machinery market – Research Methodology
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global agricultural & forestry machinery market and arrive at conclusions on the future growth prospects of the market. The research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global agricultural & forestry machinery market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the agricultural & forestry machinery market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from agricultural & forestry machinery market industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global agricultural & forestry machinery market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global agricultural & forestry machinery market more reliable and accurate.