Farm Mechanization is the process in which agricultural machinery is used for farming purposes. The use of machinery in farming increases farm productivity while reducing the manual labor required. The machinery available in the current market includes harvesters, tractors, levelers and several farm implements. Large scale production is highly beneficial with the use of farming machinery rather than small scale farming.
By reducing labor requirements, efficient use of resources such as fertilizers, chemicals, water and seeds and by increasing the crop yield, usage of machinery results in increased profits. The usage of machinery in the post-harvest process is very useful. By using primary processing technology, wastage of agricultural produce is minimized. Further development of low-cost post-harvest technologies and scientific storage are trending in the farm mechanization market.
Latin America Farm Mechanization Market Drivers:
The economic benefits associated with the usage of machinery in farming, technological innovations, and the production of low-cost machinery are the major factors driving the market. The introduction of machinery which uses alternative fuels and government investments in encouraging farmers to use farming machinery by giving incentives are also propelling the market growth. However, the high initial cost of the machinery is hindering the market growth.
By Product:
Tractors hold the largest market share in the product segment. It is due to the evolved tractor technologies and due to the presence of several companies in the market which provides them. Harvesters also contribute significantly to the farm mechanization market due to the reduced wastage of agricultural produce using these compared to manual harvesting. Tillers and land levelers are increasing in market size due to the high market penetration.
The Market is Geographically divided into:
Latin America:
Argentina leads the farm mechanization market in Latin America. It is due to the investments of private organizations to expand their market.
Key Players:
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