Italy Agriculture and Farm Machinery Market Share, Trends, Revenue, Scope, Challenges, Key Manufacturers and Growth Opportunities Till 2033


Italy Agriculture and Farm Machinery Market Share, Trends, Revenue, Scope, Challenges, Key Manufacturers and Growth Opportunities Till 2033: SPER Market Research

 Category : Agriculture

 Published: Dec-2023
 Author: SPER Analyst

Italy Agricultural Machinery Market is projected to be worth USD XX billion by 2033 and is anticipated to surge at a CAGR of 5.51%.

The term "agricultural machinery" describes the mechanical equipment or vehicles used in farming and other agricultural pursuits. A wide variety of agricultural machinery equipment is available, including power and manual tools like tractors, harvesters, hay and forage machines, and many other readily operated farm equipment types.

Italy Agricultural Machinery Market Driving Factors and Challenges
Italy's agricultural machinery business is generally centred on exports, mainly servicing the US and the EU, while domestic usage of agricultural machinery is far less common than exports. The market is expanding due to various factors, such as the increasing need for farm mechanisation and the rapid advancements in technology. Due to farmers' revenues not keeping up with rising production costs, such as labour prices, the region is witnessing an increase in demand for agricultural mechanisation. In agriculture, there is a serious worker shortage. Because of this scarcity of agricultural labour, salary rates are rising, allowing local farmers to purchase tractors and other farm equipment. As a result, it is expected that this aspect will propel the agricultural machinery market's rise in the region. 

Farmers in the region are looking for tractors with certain features that will satisfy their demands for productive farming. In order to satisfy consumer demand, numerous domestic and international manufacturers of agricultural machinery are creating new, highly modern tractors that can handle a range of farming applications. For instance, Kubota debuted several new items in 2017, such as the 170 horsepower M7-1 tractor series, which is meant for Italian midsize farms. The M7-1 boasts a variety of luxurious amenities, including emission technology, an integrated touch screen terminal, and a variable gearbox (CVT).

However, the market faces challenges such as a decline in the count of operational farms and a substantial decrease in agricultural income. The growth impediments also include a lack of awareness among small-scale farmers regarding the merits of adopting agricultural technology. Additionally, the escalating cost of agricultural equipment poses a significant hurdle, particularly in emerging economies. This obstacle is attributed to the financial strain imposed on farmers seeking to invest in modern farming technologies. Overcoming these challenges is essential for sustained market growth, requiring targeted efforts to address issues related to farm viability, awareness, and affordability of advanced agricultural solutions.

Impact of COVID-19 on Italy Agricultural Machinery Market
The Covid-19 epidemic has had a detrimental impact on the agricultural equipment business due to the suspension of multiple manufacturing facilities. Due to this, there was a shortage of raw materials needed to manufacture this agricultural equipment, which caused production to be delayed. The global lockdowns also negatively impacted the market players' financial results.

Italy Agricultural Machinery Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; AGCO Corporation, CLAAS KGaA mbH, CNH Industrial NV, Deere & Company, Kubota Corporation, Kuhn Group, Same Deutz-Fahr, Yanmar Co. Ltd, Others.

Italy Agricultural Machinery Market Segmentation:

By Type: Based on the Type, Italy Agricultural Machinery Market is segmented as; Equipments (Harrows, Ploughs, Rotovators and Cultivators, Seed and Fertilizer Drills, Other Equipments), Harvesting Machinery (Combine Harvesters, Forage Harvesters, Other Harvesting Machinery), Haying and Forage Machinery (Balers, Mowers and Conditioners, Other Haying and Forage Machinery), Irrigation Machinery (Sprinkler Irrigation, Drip Irrigation, Other), Tractors (Less than 40 HP, 40 HP to 99 HP, Greater than 100 HP).

By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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