Latin America Planting Equipment Market was worth USD 3.4 billion in 2021 and estimated to be growing at a CAGR of 5.7%, to reach USD 5.85 billion by 2026.
Plant equipment is the device which is towed at the back of a tractor. It assists in the sowing of seeds. It is connected to a tractor and the seeds are sown in along the rows. Plant equipment varies in size, with the biggest one being the 48-row John Deere DB120. The row units are placed uniformly along the equipment at intervals which differ from crop to crop.
Drivers and Restraints of Latin America Planting Equipment Market:
The major drivers for the growth of planting equipment market are the developing technology in the agricultural sector, lack of cheap and skilled labor force, and increasing population leading to high demand for cereals. However, lack of awareness among people regarding the latest farming technologies and unaffordable cost for some farmers are the factors restraining this market.
Latin America Planting Equipment Market – By Type:
Air Seeders
Latin America Planting Equipment Market – By Design:
Latin America Planting Equipment Market – By Crop Type:
Geographical Analysis:
The market has also been geographically segmented into Brazil, Mexico and Argentina. These countries are emerging economies and are showing evident potential for planting equipment market during the forecasting period.
Key Players:
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the Latin America Planting Equipment Market are Deere & Company, AGCO Corporation, Buhler Industries, Inc., Kinze Manufacturing, Inc., SeedMaster Manufacturing Ltd. and Morris Industries Ltd.
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