Overview and Scope
Plow refers to equipment, which allows removing horizontal clods from the soil. The clods then rolled over and were destroyed to bring the soil back to its original phase, helping the passage of organic substances, and providing space and nutrients to the new crop.
Sizing and Forecast
The plows market size has grown strongly in recent years. It will grow from $0.99 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to agricultural expansion and mechanization, population growth and food demand, shift towards commercial farming, government support and agricultural policies, weather and seasonal variability.
The plows market size is expected to see strong growth in the next few years. It will grow to $1.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to growing precision agriculture practices, sustainable and conservation farming, growing farm mechanization in emerging markets, focus on soil health and crop yields, climate change adaptation. Major trends in the forecast period include advanced materials, remote monitoring and control, increased connectivity, precision snow removal technology, subscription-based models.
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Segmentation & Regional Insights
The plows market covered in this report is segmented –
1) By Product Type: Reversible Plow, Disc Plow, Ridge Plow, Chisel Plow, Moldboard Plow
2) By Technology: Classic Plows, Modern Plows
3) By Application: Large Farm, Private Farm
The Asia-Pacific was the largest region in the plows market in 2023. North America was the second largest region in the global plows market share. The regions covered in the plows market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expected rise in population that drives demand for agricultural products contributed to the growth of the plows market. According to the United Nations Organization, the worldwide population is expected to reach 9.7 billion by 2050 from 7.7 billion in 2020. With the population growth, consumption of foods will increase and boost the demand for the agriculture sector and agricultural products such as plows. The population growth in the next 30 years is expected to drive the growth of the plows market during the forecast period.
Key Industry Players
Major companies operating in the plows market report are CNH Industrial India Pvt. Ltd., AGCO Corporation, Deere & Company, BEDNAR FMT s.r.o., UNIVERSAL TRUCK EQUIPMENT INC., ISEKI & CO. LTD., KUHN SAS, Douglas Dynamics LLC, BOSS Snowplow, Amazonen-Werke G. Dreyer Maschinenfabrik GmbH, Woods Equipment Company, Western Products LLC, Meyer Products LLC, Fisher Engineering, Kongskilde Industries A/S, Monashee Manufacturing Corp., PJB Industries Inc., Bomet Sp. z o.o. Sp.K, Agrimir, Baldan Machinery, AGRO-MASZ Agriculture sp. z o.o., Aratri EMMEGIEMME Srl, Ünlü Ziraat Aletleri A.S, FALC S.p.A., BLIZZARD Snow Plow, Ebling Manufacturing Inc., Sno-Gate, KAGE Manufacturing LLC, Falls Legal LLC, Kubota Corporation, Mahindra & Mahindra Ltd.
The plows market report table of contents includes:
1. Executive Summary
2. Plows Market Characteristics
3. Plows Market Trends And Strategies
4. Plows Market – Macro Economic Scenario
5. Global Plows Market Size and Growth
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32. Global Plows Market Competitive Benchmarking
33. Global Plows Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plows Market
35. Plows Market Future Outlook and Potential Analysis
36. Appendix
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