Agricultural Shredder Machine Market to Garner $2.38 Bn, Globally, by 2031 at 4.2% CAGR: Allied Market Research
Rise in awareness of innovative farming methods and increased efficiency to greater levels of automatic shredders have boosted the growth of the global agricultural shredder machine market.
PORTLAND, Ore., Aug. 4, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Agricultural Shredder Machine Market by Product Type (Flail Mowers and Shredders, Rotary Cutters, Grooming Mowers), by Automation Grade (Automatic, Semi-Automatic), by Business Type (Original Equipment Manufacturer (OEM), Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global agricultural shredder machine industry generated $1.58 billion in 2021, and is projected to reach $2.38 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Drivers, restraints, and opportunities
Rise in awareness of innovative farming methods and increased efficiency to greater levels of automatic shredders have boosted the growth of the global agricultural shredder machine market. In addition, the development of arable land fueled the market growth. However, increase in cost of raw materials and unavailability of skilled labor required to manufacturer such equipment hinder the market growth. On the contrary, increased adoption of machinery which ensures high productivity gains would open new opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic halted the production of several products in agricultural shredder machine market due to strict lockdown regulations imposed by the government.
- However, the governments of several countries focused on vaccination drives, which led to reopening of agricultural shredder machine companies at their full potential.
The rotary cutters segment dominated the market
By product type, the rotary cutters segment held the lion's share in 2021, accounting for nearly three-fifths of the global agricultural shredder machine market, and is projected to continue its leading position throughout the forecast period. The segment is projected to portray the highest CAGR of 4.7% during the forecast period, due to advancement in technology related agricultural activities around the world. The report includes analysis of the flail mowers and shredders and grooming mowers segments.
The automatic segment to register the highest CAGR through 2031
By automation grade, the automatic segment is anticipated is estimated to register the highest CAGR of 4.6% from 2022 to 2031. The automatic shredder integrates GPS navigation, sensors, machine learning, and artificial intelligence to offer more precise and accurate operations, with minimum wastage of crops. However, the semi-automatic segment held the lion's share in 2021, contributing to more than two-thirds of the global agricultural shredder machine market. The introduction of semi-automatic shredder meets the gap by providing precision technologies to obtain high productivity without high investments.
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The original equipment manufacturer (OEM) segment dominated the market
By business type, the original equipment manufacturer (OEM) segment held the largest share in 2021, accounting for nearly four-fifths of the global agricultural shredder machine market, is estimated to continue its dominance throughout the forecast period. In addition, the segment is expected to showcase the highest CAGR of 4.4% from 2022 to 2031. This is attributed to rise in adoption of technology to increase the efficiency. The report includes an analysis of the aftermarket segment.
Asia-Pacific held the lion's share
By region, the global agricultural shredder machine market across Asia-Pacific held the largest share in 2021, accounting for more than two-fifths of the market. Furthermore, the market across Asia-Pacific is anticipated to register the highest CAGR of 5.2% during the forecast period, due to rise in investment, increase in agriculture activities, and investments by the government. The report analyzes the market across several regions including North America, LAMEA, and Europe.
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Key market players
- AGCO Corporation Bamford Excavators Limited
- Deere & Company
- Bobcat Company
- Kubota Corporation
- Daedong Industrial Co., Ltd
- Iseki & Co., Ltd.
- Changzhou Dongfeng Agricultural Machinery Group Co., Ltd
- Mahindra & Mahindra Limited
- Brown Manufacturing Corporation
- Bertolini
- Landoll Company, LLC
- BEFCO, Inc
- Alamo Group
- Woods Equipment Co., Inc.
- BERI UDYOG PRIVATE LIMITED
- Diamond Mowers, LLC.
The report analyzes these key players of the market. These companies have adopted several strategies such as partnerships, expansion, collaborations, new product launches, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.
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