Exactitude Consultancy Press Release: Global process equipment market
Population growth, rising food consumption, and the need for more agricultural production are all driving factors of process equipment market.
One of the many reasons propelling the market for process equipment is the demand for efficient and inexpensive agricultural operations. Population growth, rising food consumption, and the need for more agricultural production are all significant market factors. The application of cutting-edge technology, such as automation, smart farming, and precision agriculture, which boost production and minimise labour costs, further stimulates the business. Another market-moving element is government initiatives and subsidies to promote modernisation and the use of cutting-edge equipment in agriculture. The industry is also stimulated by the growing demand for agricultural practises that are environmentally friendly and need the use of equipment with less adverse environmental impact.
Explore 188 market data Tables spread through nearly 125 Pages and in-depth analysis on “Process Equipment Market by Type (Cleaners, Dryers, Coaters, Separators, Polishers, Others), Crop (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others) And Region, Global Trends and Forecast from 2022 to 2029” with Table of Contents
High cost of sophisticated equipment is hindering the growth of the process equipment market.
The market for process equipment is constrained by factors like the high cost of sophisticated equipment, farmers’ restricted access to financing, and a shortage of experienced labour to run and maintain the equipment. The adoption of some equipment types may also be hampered by environmental and legal issues. It will be essential to address these constraints if the market is to expand and thrive, especially in developing nations and for small-scale producers.
Implementation of cutting-edge technologies like automation, smart farming, and precision agriculture are creating more opportunities for process equipment market.
The market for process equipment offers a number of opportunities for expansion and improvement. One of the major prospects is the growing need for effective and sustainable agriculture practices, which is being driven by the expanding global population and increasing food consumption. The industry is also given chances by the implementation of cutting-edge technologies like automation, smart farming, and precision agriculture. Government programs and subsidies to encourage modernization and the use of cutting-edge machinery in agriculture may also contribute to the market’s expansion. Opportunities for the industry also arise from the advent of the Internet of Things (IoT), big data analytics, and artificial intelligence (AI) in agriculture.
Production and supply chain of process equipment market has disrupted due to COVID-19.
Some processes in agriculture and supply networks are being disrupted by COVID-19. The supply chain has been disrupted as a result of the transportation constraints, and several industrial facilities have had to temporarily close. According to media sources, the shutdown’s closure of lodging facilities, dining establishments, confectionery shops, and tea rooms has already had an impact on milk sales. India’s economic impact will most likely be significantly worse for two reasons. The economy was already slowing down before to COVID-19, which exacerbated pre-existing issues with unemployment, low income, rural suffering, starvation, and severe inequality. Second, the sizable unorganized sector is especially exposed.
The majority of the market for process equipment is made up of grains and cereals.
Grain and cereal crops constitute the majority of all crop types, and this trend is expected to continue from 2021 through 2026. The growing demand for grains and cereals including wheat, maize, corn, rice, and barley is helping the market. On the global market, the type of oilseeds and pulses will expand quickly. The global increase in production of cooking oil seeds such groundnut, sunflower, and palm seeds is helping to expand this industry. The expanding food industry in emerging nations and the demand for cooking oil both contribute to market growth.
Process equipment market is dominated by North America region and expected to grow in forecast years.
The North American area is anticipated to experience significant growth from 2022 to 2029, maintaining its position as the market leader. The United States market is predicted to grow at the fastest rate in the region. The nation’s processing equipment market is primarily driven by the widespread use of processed seeds, technological developments in agriculture, and an increase in the use of genetically modified crops. Due to multinational firms operating in the United States and the rapidly advancing technology in the agricultural and food systems, the market for process equipment for the seed sector has evolved dramatically.
The process equipment market key players include Syngenta, Bayer, KWS Group, The Dow Chemical Company, Agrosaw, Alvan Blanch Development Company, Group Cimbria, Lewis M. Carter Manufacturing, Spectrum Industries, Westrup, and others.
Key Market Segments: Process equipment market
Process Equipment Market By Type, 2020-2029, (USD Billion , Thousand Units)
Process Equipment Market By Crop, 2020-2029, (USD Billion, Thousand Units)
Process Equipment Market By Region, 2020-2029, (USD Billion, Thousand Units)
Important Countries In All Regions Are Covered.