LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global plow market and the market is poised to grow by USD 405.96 million during 2020-2024 at a CAGR of over 5% during the forecast period. Request Free Sample Pages
Read the 136-page research report with TOC on "Plow Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by Type (Classic plows and Modern plows), and Segment Forecasts, 2020-2024."
The market is driven by the availability of varied types of plows. In addition, the growing awareness about the benefits of modern plowing machines is anticipated to further boost the growth of the plow market.
There are different variants of plows available in the market such as rotary plows, sub soiler, chisel plow, and disc plow to cater to specific applications on farmland. For instance, sub-soiler plows are used to achieve tillage deeper than moldboard plowing depth, while, disc hollow plows are used before plowing the land to reduce clogging. Thus, the availability of different types of plows is expected to drive market growth during the forecast period.
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Major Five Plow Market Companies:
AGCO Corp. is headquartered in the US and operates the business under various segments such as Tractors, Replacement parts, Grain storage and protein production systems, Combines, Application equipment, and Other machinery. The company offers plows such as DISC HARROWS, FALLOW TILLAGE, and CHISEL PLOWS.
Brohawk Group is headquartered in India and offers products through the following business units: Agricultural Machinery Parts, Agricultural Machinery, Tractor and Trailer Parts, and Ball Mount. The company offers Disc Plough with 2, 3, and 4 bottoms versions.
CNH Industrial NV
CNH Industrial NV is headquartered in the UK and operates under various business segments, namely CNH Industrial NV, Construction Equipment, Commercial Vehicles, and Powertrain. The company offers plows such as SEMI-MOUNTED VARIABLE WIDTH REVERSIBLE PLOUGHS and FULLY-MOUNTED REVERSIBLE PLOUGHS.
Deere & Co.
Deere & Co. is headquartered in the US and offers products through the following business segments: Agriculture and turf, Construction and forestry, Financial services, and Other revenues. The company offers plows such as John Deere Rotary Tiller and GreenSystem Cultivator.
ISEKI & Co. Ltd.
ISEKI & Co. Ltd. is headquartered in Japan and offers products through the following business segments: Tractors, Zero-Turn Mower, Front Mower, Riding Mower, Tiller, Rice Transplanter, and Combine Harvester. The company offers plows such as KCR700 and SA600.
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Plow Type Outlook (Revenue, USD Million, 2020-2024)
- Classic plows
- Modern plows
Plow Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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