The COVID-19 pandemic is anticipated to impact the global agricultural and forestry machinery market in an obstructive way. The tractors and harvester application segment is anticipated to rise with a healthier CAGR in the forecast period. The agricultural and forestry end-user type dominated the market in terms of revenue generation. The European region is anticipated to have lucrative growth in the forecast period.
Many industries are experiencing tough situations due to COVID-19 outbreak. The COVID-19 outbreak has an obstructive impact on the global agricultural and forestry machinery market. There has been slowdown in the forest management activities owing to the shortage of workforce due to pandemic. Forest based industry is anticipated to have immediate consequences to the forest and agriculture owners due to the decline in the wood products such as wood runoff and disruption in the supply chain.
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However, the market is anticipated to regain its importance after he end of the pandemic stress due to the rise in the utilization of wood pellets and pulp for sanitary purposes. For instance, according to Bhopal forest department it is anticipated that people living in greener areas are less infected to infections including COVId-19. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the global agricultural and forestry machinery market.
Our report includes:
• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact
according to a new report published by research dive, the global agricultural and forestry machinery market is projected to rise with a healthy cagr by contributing remarkable revenue in the predicted period.
The global agricultural and forestry machinery market is segmented on the basis of the application, end-user, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis, and competitive players of the market. As per our analysts, growing demand for wood and wood products after the end of the pandemic stress is anticipated to drive the demand of the market. However, a high initial investment that has forced integration of smart machinery and equipments is the primary concern among harvesters. This factor is foreseen to hamper the market growth in the forecast period.
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• The Tractors and Harvester Application Sub-Segment is expected to rise with a healthier CAGR in the Forecast Period
Based on the application, the global market is segmented into agricultural and forestry. The agricultural equipment segment is further sub-segmented into combine & forges harvester, field sprayers, milking & poultry machines, tractors, soil cultivating equipments, haymaking machines, and others. Among these, tractors and harvester sub-segment is anticipated to rise with a healthier CAGR in the predicted period. Tractors are used widely in the agricultural segment owing to the recent development such as driverless automation benefit. In addition, forestry machines are further divided into harvesters, swing machine, bunchers, loaders, and others. Among forestry machines, hybrid harvester is anticipated to dominate the market in terms of revenue generation due to fuel efficiency of the machine.
• The Agricultural and Forestry End-User is anticipated Dominate the market in terms of revenue generation
Based on the end-use, the global agricultural and machinery market is divided into agricultural and forestry end-user. Rising agricultural policy, utilization of modern cultivation methods, government initiatives, and rising demand of timber has enhanced the demand of the agricultural and forestry machinery market in the forecast period.
• Regional Outlook and Major Market Players
The global market is studied across various regions such as North America, Europe, Asia-Pacific, and LAMEA. Among these, the Europe region is predicted to dominate the market in terms and revenue and continue its dominance until the end of the forecast period. Europe region is actively involved in the development of agricultural and forestry due to the rising financial support from the government and set up of Common Agricultural Policy (CAP) to help local people by offering finance for enhancing their production.
There are several players in the global market but major key-players of global agricultural and forestry machinery market are AGCO Group, The Mahindra Group, AGROSTROJ Pelhrimov, Kubota Corp., Same Deutz-Fahr, Hubei Machinery and Equipment, Boneng Transmission, Bucher Industries AG, John Deere, Weifang Euroking Machinery, and others.
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