The new agricultural mowers market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Agricultural Mowers Market 2021-2025 (Graphic: Business Wire).
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the agricultural mowers market.
"One of the primary growth drivers for this market is the rising need to boost hay making performance in fields," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the agricultural mowers market size to grow by USD 425.00 million during the period 2021-2025.
Agricultural Mowers Market Segment Highlights for 2020
The agricultural mowers market is expected to post a year-over-year growth rate of 4.51%.
Based on the product, the disc segment saw maximum growth in 2020. The versatility and durability offered by agricultural disc mowers are likely to drive the growth of the market.
The growth of the market segment will be significant during the forecast period.
33% of the growth will originate from the North America region.
Technological advances for better cultivation practices is one of the prime factors that will facilitate the agricultural mowers market growth in North America over the forecast period.
The US is one of the key markets for agricultural mowers in North America. Market growth in this region will be slower than the growth of the market in APAC.
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The agricultural mowers market size is expected to accelerate at a CAGR of about 5% during the forecast period.
The agricultural mowers market is segmented by product (Disc, Sickle bar, Drum, and Flail) and geography (North America, Europe, APAC, South America, and MEA).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including AGCO Corp., Buhler Industries Inc., CLAAS Group, CNH Industrial NV, Deere & Co., Kubota Corp., KUHN SAS, Maschinenfabrik Bernard Krone GmbH & Co. KG, STIGA Spa, and Vermeer Corp.
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