The soil aerators market is estimated to be valued at USD 24.03 billion in 2018 and is projected to reach USD 33.01 billion by 2023, at a CAGR of 6.6% during the forecast period. The market is driven by increase in net farm income due to mechanization, shrinking arable land, and rapid increase in commercial & residential space, leading to the growing demand for landscaping.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. Major growth drivers of the region include the adoption of smart, mechanized aerators owing to technological advancements in countries such as India, China, and Japan. In addition, factors such as an increase in footfall, overgrazing by livestock, the pressure exerted by heavy equipment, climatic conditions, strong government support through subsidies, and increased productivity requirements also drive the soil aerators market in the region.
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This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading service companies such as Deere & Company (US), Mahindra and Mahindra (India), Bucher Industries (Switzerland), CNH Industrial (UK), ALAMO (US), and AGCO Corporation (US).
The global market, based on equipment, has been segmented into secondary tillage, primary tillage, weeding, and soil aerating. The market for soil aerating is projected to grow at the highest CAGR between 2018 and 2023. The manufacturing of trailed and mounted equipment has witnessed tremendous growth in the last two decades owing to its increased usage by farmers, facilitated by the ease in application. The market for soil aerators used in agriculture is rapidly growing owing to government initiatives, extensive R&D activities in agricultural as well as non-agricultural industries, and a rise in the demand for food from countries with diminishing farming lands.
The soil aerators market, by application, has been segmented into agriculture and non-agriculture. The market, by application, was dominated by the agriculture segment in 2018. The dominance of agriculture in soil aerators is attributable to the increase in large-scale holdings of farmers in most developed countries and an increasing trend of farm mechanization in developing countries. The emerging trends in agricultural technology include a variety of multifunctional equipment, which are aligned with sensors, and are automated/hydraulic; these equipment focused by agricultural machinery manufacturers led the farmers to increase their crop yield to meet the rising demand for food products, worldwide.
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