LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global seed drills market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
The influx of new products with improved features is one of the major trends being witnessed in the global seed drills market 2018-2022. With the increase in the adoption of seed drills, vendors are constantly developing new products with enhanced features that allow farmers to increase the efficiency of the sowing process as well as increase the ratio between the area sown versus the area harvested.
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According to Technavio analysts, one of the key factors contributing to the growth of the global seed drills market is the scarcity of labor in the agricultural sector:
Global seed drills market: Scarcity of labor in the agricultural sector
Urbanization has led to the shift of labor from the agricultural sector to other labor-intensive industries. For instance, Brazil has observed a shift in its labor force from the agricultural sector to the other sectors such as healthcare, education, and retail. Similar challenges are also faced by farmers in countries such as the US. This shift of labor has led to a shortage of skilled labor.
According to a senior analyst at Technavio, “Farmers in some countries such as the US and Canada, where the shortage of labor has led to a rapid increase in the wage rate, are adopting agricultural equipment such as seed drills, thereby driving the growth of the market.”
Global seed drills market: Segmentation analysis
The global seed drills market research report provides market segmentation by product (tine seed drill and disc seed drill), by technology (mechanical seed drills and pneumatic seed drills), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the time seed drill segment held the largest market share in 2017, contributing close to 54% of the market. New product launches with advanced features will influence the fast-paced growth throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting over 41% share. It was followed by EMEA and APAC respectively. Although EMEA held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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