LONDON--(BUSINESS WIRE)--Technavio projects the global vertical tillage machines market to post a CAGR of close to 10% during the forecast period. The growing focus on industrial mechanization is a key driver, which is expected to impact market growth through 2018-2022. The growing focus on industrial mechanization is essential for efficient utilization of farm resources. Many governmental organizations are offering support for farm mechanization which will lead to the growth of the market.
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In this report, Technavio highlights the introduction of new vertical tillage machines as one of the key emerging trends to drive the global vertical tillage machines market:
Introduction of new vertical tillage machines
Vendors are trying to establish a competitive edge by developing new vertical tillage machines to improve various aspects of the machines such as speed, offer flexibility to soil conditions, and adjustability of blades. For instance, in June 2017, Deere and Company introduced the VT17 Series Vertical Tillage Tool. This tool is available in 4 models and has multiple blade options. The machine helps operators to till at high speeds while minimizing soil erosion and reducing soil compaction.
According to a senior analyst at Technavio for agricultural equipment research, “The need for mechanization is increasing in farms for various operations such as seedbed formation and residue management. Vertical tillage machines can be used as an effective solution for such tasks.”
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Market segmentation and analysis through 2022
This market research report segments the global vertical tillage machines market by product (adjustable and non-adjustable) and key regions (the Americas, APAC, and EMEA).
The adjustable segment dominated the market accounting for more than 66% of the market in 2017. The market share of this segment is expected to increase further over the forecast period.
In 2017, the global vertical tillage machines market was led by the Americas which accounted for over 36% share followed by APAC and EMEA respectively. APAC is expected to witness the maximum increase in its market share over the forecast period, while the Americas will see a decrease in its market share.
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