Precision Planting Market

Market Leadership - Precision Planting Market

The precision planting market is estimated to be worth USD 3.6 billion in 2020 and projected to reach USD 4.6 billion by 2025, at a CAGR of 5.1%. The high demand for agricultural products due to population growth; increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques are the major factors fueling the growth of the precision planting market. Several governments are providing subsidiaries and promoting the benefits of using precision planting to increase awareness regarding the benefits of this technology.

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Deere & Company (John Deere) is one of the leading players in the precision planting market and accounts for more than 40% of the global sales of high-speed precision planters. The company has a renowned brand equity and a well-established distribution network, which makes it a leading player in the precision planting market. Deere & Company has adopted acquisitions and product launches & developments as its key business strategies to grow in the precision planting market. For example, in September 2018, John Deere acquired PLA (Argentina) to provide innovative, cost-effective equipment, technologies, and services to its customers. The company has also been launching a slew of new products in recent years. The latest addition to its product portfolio was ExactRate, launched in February 2020, which is a factory-installed option that precisely monitors and controls the application of liquid fertilizer during planting.

John Deere continues to operate in the face of COVID-19 with lower than the normal workforce. The ongoing COVID-19 pandemic is expected to have a negative impact on its precision planting business and related agriculture equipment business in the coming next few quarters. The company’s production was suspended in some regions such as Asia, Europe, and South America, which has led to supply chain disruption and a decline in demand. It is expected to have a short-term impact on the company’s revenue. In 2020, the company has reported a year-on-year decline in Q2 (Fy20-21) earning of sales and net income by 18% and 41%, respectively.

AGCO is one of the leading players in the precision planting market. The company focuses on acquisitions, product launches, and partnerships for its growth. The company’s robust R&D capabilities and portfolio of innovative products is its main strength. For instance, in 2020, AGCO introduced the new Fendt Momentum planter for North American row crop producers. In 2018, the company introduced the White Planters9500VER and 9700VER precision planting-ready toolbars. Likewise, in September 2017, it acquired Precision Planting LLC to expand its portfolio of precision planting technology offerings globally.

The company has its presence in heavily COVID-19-impacted countries, such as China, Germany, Brazil, the US, France, UK, Sweden, and Italy. The company took pro-active steps to address the crisis by adopting supply chain risk management & strategic sourcing strategies. The company can focus on autonomous and connected precision planters for small to medium-sized farms. Connected and digital agriculture is expected to offer tremendous growth opportunities in the years to come.

CNH Industrial is a leader in the global precision planting market. The company operates in precision planting market through Case IH, and New Holland Agriculture brands. The company has adopted product launches and acquisitions as key growth strategies. For instance, in December 2019, it acquired AgDNA, a leader in farm management information systems (FMIS). In February 2020, the company introduced new enhancements for the lineup of Precision Air 5 series air carts. Case IH announced the launch of the Quadtrac CVX and new Puma models at the LAMMA 2018. CNH Industrial can extend its offerings to include tillage, seeding, and hay & forage solutions under various brands, including Kongskilde, Överum, Howard, and JF.

The company has strong presence in Europe, but due to COVID-19, it had to suspend its production in Italy and other European countries. The company faced short-term disruptions in its supply chain, which further resulted in low operation efficiency. The various other brands under CNH Industrial underwent losses due to a decline in demand for agriculture equipment during the coronavirus outbreak.

Kinze Manufacturing is one of the leading players in the precision planting market. The company offers innovative precision planting products, such as planters for row-crop production, grain auger carts, and high-speed tillage equipment. The company is strategically expanding its product portfolio. It is focusing on product launches and agreements. In January 2020, the company introduced the 4705 Planter, which is the planter enhancement for the 2021 Season. In February 2020, the company signed an agreement with Surefire Ag Systems to allow SureFire install its liquid fertilizer planter solutions on Kinze planters. The company could use its strong product portfolio, brand image, and distribution channels to strengthen its presence in emerging markets of APAC, Latin America, and the Rest of the World (RoW) and reap benefits through new revenue channels.

Kinze Manufacturing faces tough competition from well-established players like John Deere and Precision Planting, LLP (Part of AGCO). The company has captured approximately 10 to 15% share in the global precision planting market. The company can focus on the development of small precision planters to gain an advantage over its competitors.

Related Reports:

Precision Planting Market by Offering (Hardware, Software, Services), System Type (High-Speed Precision Planting Systems, Precision Air Seeders, Drones), Farms Size, Drive Type (Electric, Hydraulic), Application, and Geography - Global Forecast to 2025

Mr. Aashish Mehra
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Precision Planting Market Size,  Share & Growth Report
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