Tiller Machine Sales Forecasted to Grow at 3.6% CAGR, Reaching $4.38 Billion by 2034
Tiller Machines Have Gained Widespread Prominence to Improve Seedbeds and Boost Overall Farming Efficiency: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, August 1, 2024 /EINPresswire.com/ -- Revenue from the global tiller machine market is set to reach US$ 3.07 billion in 2024 and is forecasted to rise at 3.6% CAGR through 2034, according to findings in this updated industry research report by Fact.MR.Rising use of tiller machines in agriculture and landscaping, especially for soil preparation and cultivation, is driving market growth. Tiller machines are essential in enhancing soil conditions, improving seedbeds, and increasing overall farming efficiency. Market players are dedicated to improving the quality, adaptability, and sustainability of these machines to cater to the changing needs of the agriculture and landscaping sectors.
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Technological advancements are significantly influencing the expansion of the global tiller machine market. Developments in machine designs, power sources, and environmentally friendly features are driving market growth. As these sectors adjust to evolving environmental regulations and sustainability objectives, the importance of advanced tiller machine solutions is growing. This synergy with technological advancements and dedication to supplying eco-friendly equipment are contributing to market expansion.
Key Takeaways from Market Study
The global tiller machine market is poised for significant growth, with projections estimating its value to reach US$ 4.38 billion by 2034. A substantial portion of this growth is expected to come from East Asia, where revenue from tiller machine sales is forecasted to rise at a 3.7% CAGR from 2024 to 2034. South Asia & Pacific is also set to play a pivotal role, securing a notable 27.8% share of the global market by the same year. Notably, tiller machines with a power capacity of under 25 HP are projected to dominate the market, occupying 47.9% of the total share by 2034. This segment's growth highlights a strong preference for smaller, more versatile machines among consumers.
The demand for tiller machines in China is particularly robust, with market projections reaching a value of US$ 960 million by the end of 2034. Hydraulic tiller machines are expected to be a significant driver of this demand, anticipated to hold an impressive 73.6% market share. Meanwhile, the market in India is forecasted to expand at a 4% CAGR through 2034, indicating a steady increase in the adoption of these machines. This growth trajectory across different regions underscores the rising importance of tiller machines in agriculture and related industries.
“Growing demand for tiller machines is being driven by their pivotal role in agriculture and their efficiency in handling diverse tasks. Increasing food production to meet the needs of population growth is necessitating the use of tiller machines for enhanced farming efficiency,” says a Fact.MR analyst.
Market Developments
Leading manufacturers of tiller machines are Bucher Industries AG, AGCO Corporation, Kubota Corporation, Claas KGaA mbH, and Sharp Garuda Farm Equipments Pvt. Ltd.
In 2022, VST Tillers Tractors Limited (VST) launched its Experience Centre in Pune, India, displaying state-of-the-art agricultural machinery. This engaging center offers visitors the chance to discover and interact with a diverse array of farm equipment such as tiller machines, tractors, rotary tillers, power weeders, brush cutters, rice transplanters, power reapers, hedge trimmers, and accessories.
In 2021, CLAAS KGaA mbH, based in Harsewinkel, Germany, undertook a strategic investment by purchasing a minority share in AgXeed B.V., a company located in the Netherlands. This collaboration is intended to promote the development and market introduction of autonomous farming machines.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the tiller machine market for 2019 to 2023 and forecast market statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (front tines, rear tines, mini-cultivators), tilling width (9 inches, 14 inches, 15 inches, 16 to 36 inches), power capacity (under 25 HP, 25 to 40 HP, 40 to 60 HP, 60 to 80 HP), and mechanism (hydraulic, electric), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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Agriculture Equipment Market2: The global agriculture equipment market was valued at US$ 162 billion in fiscal year 2022. Over the decade from 2022 to 2032, it is projected to grow at a compound annual growth rate (CAGR) of 4.2%, reaching an estimated value of US$ 238 billion by the end of 2032.
Agricultural Tractors Market3: Global sales of agricultural tractors are anticipated to reach a market value of US$ 63 million in 2022. The market is expected to grow at a CAGR of 6%, reaching a total value of US$ 113 million by the end of the assessment period from 2022 to 2032.
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1 https://www.factmr.com/report/1640/power-tiller-market
2 https://www.factmr.com/report/agriculture-equipment-market
3 https://www.factmr.com/report/agricultural-tractors-market
