Machinery, tools, and implements used in farming and agricultural operations, such as planting, cultivating, harvesting, and post-harvest processing, are referred to as agricultural equipment. Modern agriculture depends heavily on farming equipment since it increases productivity, sustainability, and efficiency while consuming fewer labour and resources. Agricultural equipment is widely used by farmers all over the world to boost productivity, reduce labour costs, and enhance efficiency in contemporary farming operations.
According to SPER Market Research, ‘Turkey Agricultural Machinery Market Size- By Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Turkey Agricultural Machinery Market is estimated to reach XX billion by 2033 with a CAGR of XX%.
Drivers:
Agricultural machinery has increased steadily in Europe and North America over the research period. Rising mechanisation in the area agriculture business, along with rising farmer income, are predicted to be important growth drivers. Furthermore, as the pressure to boost agricultural land productivity develops, it is expected to persist throughout the projection period. As a result, farmers and landowners are expected to use additional automation solutions for their equipment. While agriculture remains an important part of the region's economy, the number of persons employed in it has declined dramatically. This has resulted in a yearly labour shortage catastrophe in the agricultural industry.
Restraints:
The high cost of agricultural machinery significantly limits its market expansion. This cost element includes the purchase price, continuous maintenance costs, and the farmer's overall financial burden. Small and medium-sized farmers face unique challenges in investing in cutting-edge, modern technologies due to limited financial resources. Farmers are further burdened with higher expenses as agricultural technology evolves and requires periodic changes. High machinery capital costs prevent access to cutting-edge solutions that could improve sustainability and productivity, exacerbating the digital divide.
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The COVID-19 outbreak caused a small slump in the agricultural equipment business in 2020. Government-imposed limitations to combat the new coronavirus forced the temporary shutdown of manufacturing facilities, causing production delays. As a result, the industry saw a drop in the first half of 2020. Several companies, including AGCO Industries, Deere & Company, and Kubota Corporation, reported a decline in agricultural equipment sales in H1/2020. However, as governments liberalised their economies in H2/2020, demand for agricultural equipment recovered and surged by double digits, a trend that continued until H1/2021.
Turkey's agricultural machinery market is dominated by the Western Region because of its advanced agriculture, industrialisation, close proximity to manufacturers, higher farmer incomes, and better access to technology. These factors have made it possible for modern machinery to be widely adopted for high-value crop production and efficient farming practices. Major players in the market are Erkunt Traktr Sanayii AS, CNH Industrial NV, Tumosan Tractors Europe, Uzel Corporation, Hattat Holding AS, and Others.
Turkey Agricultural Machinery Market Segmentation:
By Type: Based on the Type, Turkey Agricultural Machinery Market is segmented as; Tractors, Plowing and Cultivating Machinery, Planting Machinery, Irrigation Machinery, Harvesting Machinery, Haying and Forage Machinery, Other Types.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
For More Information, refer to below link: –
Turkey Farm Equipment Market Forecast
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