Increasing Need for Cost-Effective Farming and Rising Demand for Better Quality and Advanced Farming Equipment Powered Agriculture Market
Powered agriculture is a necessary component of contemporary agriculture. It increases productivity while lowering labour costs and human drudgery. Powering also aids in increasing the efficiency of other inputs, enhancing the safety and comfort of agricultural workers, and boosting the quality and value of the produce. Efficient machinery increases production and productivity while also allowing farmers to grow a second crop or multiple crops, making agriculture more appealing and a way of life by making it commercial rather than subsistence. Increased output will necessitate the use of more agricultural inputs as well as crop protection from various pressures.
This will necessitate more engineering inputs, including the creation and introduction of high-capacity, precise, dependable, and energy-efficient equipment. To increase agricultural production and productivity, particular efforts in farm mechanization are required for small farmers who own less than 1 hectare of land. The share of marginal, tiny, and semi-medium operational holdings is anticipated to rise under the current environment of land fragmentation and resulting ongoing decline of average size of operational holdings. Individual ownership of agricultural machinery is uneconomical and operationally unviable with such a small holding. Hiring centres of agricultural machineries,’ run by cooperative societies, self-help groups, and private/rural entrepreneurs, are the best option for ensuring simple access to farm machinery and improving farm output for the benefit of small and marginal farmers.
One of the key causes driving global food production development is rising population, which boosts the use of powered agriculture equipment. Because of the availability of extremely innovative and modern items, powered farm equipment is replacing traditional ways. Other variables, such as labour shortages, ease of financing, government programmes such as financing schemes, subsidies, and cheap import levies, rising rural household income levels, and the growth of contract farming, enable farmers to profit from training, technology, and simple financing. These are some key factors expected to drive revenue growth of the global powered farm equipment market. Initially, a large capital investment is necessary, which may prevent small farmers from purchasing agricultural equipment. This could hamper market growth to a certain extent in low- and middle-income countries.
