The tiller machine market is projected to grow at a CAGR of 3.51% to reach US$3.015 billion by 2024, from US$2.451 billion in 2018. Increasing labor wage and continuous shortage of agricultural labor are considered as the driving factor for the growth of the market. Increasing adoption of tiller machines by small and marginal farmers is expected to boost up the demand for tiller machine globally. Technical advancement in tiller machines also widens up the market and creates ample of opportunities for manufacturers and venders. However growing demand for used tiller machines by famers is considered as the restraining factor for the growth of the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Tiller Machine value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Tiller Machine market.
Major industry players profiled as part of the report are Honda, Grillo Agrigarden Machines, Mountfield, Yanmar Co. Ltd, BCS America and Kubota Corporation among others.
The Tiller Machine market has been analyzed through following segments:
By Product Type
By Mechanism Type
Middle East and Africa