DUBLIN--(BUSINESS WIRE)--The "Tiller Machines - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Tiller Machines estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$2.6 Billion by 2027, growing at a CAGR of 2.7% over the analysis period 2020-2027.
Front Tine, one of the segments analyzed in the report, is projected to record a 2.3% CAGR and reach US$1.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rear Tine segment is readjusted to a revised 2.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $580.2 Million, While China is Forecast to Grow at 3.2% CAGR
The Tiller Machines market in the U.S. is estimated at US$580.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$467.6 Million by the year 2027 trailing a CAGR of 3.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.6% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Mini-Cultivators Segment to Record 3.2% CAGR
In the global Mini-Cultivators segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$377.7 Million in the year 2020 will reach a projected size of US$466 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$324.9 Million by the year 2027, while Latin America will expand at a 3.7% CAGR through the analysis period.
Select Competitors (Total 40 Featured) -
- AGCO Corporation
- Bucher Industries AG
- Claas KGaA mbH
- CNH Industrial NV
- Deere & Company
- Eurometal MIO
- Exel Industries
- Iseki & Co., Ltd.
- Kubota Corporation
- Kuhn North America Inc.
- Mahindra & Mahindra Ltd.
- SDF SpA
- Sharp Garuda Farm Equipments Pvt. Ltd.
- Tractors and Farm Equipment Limited
- YANMAR Co., Ltd.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Tiller Machines Market to Witness Steady Growth
- Growing Interest in Gardening as a Hobby Offers Improved Opportunities
- Front-Tine Tillers Dominate the Market
- Electric Tillers to Witness Fastest Growth
- Developed Regions Dominate, Developing Markets to Drive Market Gains
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Tiller Machines - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Burgeoning Population and Rise of Urban Farming Drives Demand for Tiller Machines
- World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
- Increase in Landscaping Activities Spurs Demand
- Growing Investments in Smart Farming Benefits Proliferation of Robotic Tillers
- Rise of Smart Agriculture Sets the Stage for Adoption of Robotic Tillers: Global Smart Agriculture Market Worldwide (US$ Billion) for the Years 2019 & 2024
- Emerging Role of IoT Seeks Modifications in Tiller Machine Technology
- Cordless Tillers Make Gains in Light Duty Gardening Applications
- Declining Agricultural Land Productivity Sets the Stage for Transformation in Farming
- Loss of Arable Land Exerts Immense Pressure on Yields Per Acre: Global Availability of Arable Land as a % of Total Land Area & Hectares Per Person for the Years 1990, 2000, 2018 and 2020
- Rising Farmworker Wages and Shortage of Labor to Drive the Demand for Tiller Machines
- Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
- Average Real Wage for Non-Supervisory Farm Workers (in US$/hour) in the US for the Years 2010, 2014 and 2018
- Mechanization Dictates Demand Patterns, Emerging Economies Drive Market Expansion
- Percentage of Mechanization in Agriculture in Select Countries
- Growing Trend of Renting Tillers
- Recent Innovations in the Tiller Machines Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/um58ti
