Tractors dominated the France Agriculture Equipment Industry due to farmer’s preference for its versatile nature: Ken Research

The Agriculture Equipment Market in France saw a severe drop in the first half of 2020 but the market started to gain traction again in the second half of the year.

France Agriculture Equipment Market Overview: The France Agriculture Equipment Market is currently at the growth stage and the market is highly consolidated with top six players having majority of the market shares. The France Agriculture Equipment Market expanded as a result of the country's increasing urbanization, rising standard of living and rising labor costs. France has one-third of all agricultural land in Europe. According to Crop Trust (France), nearly 93% of the farms, are middle-range and large-scale projects. Companies operating in the French Agricultural Equipment Market are concentrating on growing their market shares, primarily through acquisitions and R&D investments, as well as supply chain optimization.

Tractors dominated the France Agriculture Equipment Market: Nearly 30% of the French market for Agriculture Equipment was occupied by tractors. Tractors are versatile pieces of machinery that can operate with a variety of implements, including harrows, ploughs, and sprayers. One of the key factors driving the tractor industry is the growing use of high-tech equipment in agricultural tasks like plowing the field, etc. The lack of available farm laborers, the ease of access to loans and funds, the moderate penetration, and the shortening replacement cycles are all positive indicators of the demand for tractors and agricultural equipment.

Impact of Covid-19 on France Agriculture Equipment Market: The COVID-19 pandemic presented the French Agriculture Equipment Industry with a number of production facility-related challenges, and rapidly shifting customer demand and behavior compelled the industrial players to discover fresh approaches for the growth of their companies. Tractor registrations in France dropped in the first half of 2020 compared to the same period in 2019. The decline for landscaping tractors was slightly less. Tractor registrations in 2020 were roughly ordinary compared to the previous ten years. In France Agriculture Equipment Market, agricultural tractors saw a major decline in 2020. However, the nation's sales in the second half were robust. Thus, by the end of the year, French tractor sales had practically climbed in terms of units.

Analysts at Ken Research in their latest publication “France Agriculture Equipment Market Outlook to 2027F– By Tractor (Less than 50 HP, 50 to 79 HP, 80 to 99 HP, 100 to 120 HP and Above 120 HP), By Harvesting Machinery (Combine Harvesters, Forage Harvesters and Other Harvesting Machinery), By Plowing and Cultivating Machinery (Plows, Harrows, Cultivators and Tillers and Other Plowing and Cultivating Machinery)” observed that France Agriculture Equipment Market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly owing to introduction of smart farming techniques such as precision farming and digital farming. The Agriculture Equipment Market in France is expected to grow at a CAGR of ~% over the forecasted period 2022P-2027F.

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Key Segments Covered in the report

France Agricultural Equipment Market

By Tractor