Agriculture Tools Market By Type (Shovel, Rakes, Wheelbarrow, Others), By Distribution Channel (In-Store, Online), By Application (Farming, Gardening): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global agriculture tools market was valued at $1,810.8 million in 2020, and is projected to reach $4,846.0 million by 2032, registering a CAGR of 8.7% from 2023 to 2032.
Agriculture tools used by farmers enhance crop productivity. They consist of tools like cultivators, harrows, and plows. The tools used in agriculture, forestry, fishing, hunting, and other related activities are referred to as agriculture tools. They comprise trimmers, machetes, edgers, and other power tools as well as hand instruments including hoes, axes, saws, sickles, and pruning shears.
Rise in urbanization results in increase in city population, which drives up demand for fresh food and drives market expansion. In addition, there is a larger need to produce more food as more people move into metropolitan areas to meet their dietary needs. Urbanization is also linked to a change in food habits. Urban dwellers typically have more varied diets with a higher proportion of dispersed process and perishable goods. Farmers must modify and diversify their crops and growing strategy in response to this change in food preferences. For instance, The World Bank projects that in 2023–2024, the world's grain stocks will increase by about 60 million tonnes. Due to this demand, more agricultural methods and techniques such as greenhouse cultivation and precision farming are being produced to promote the effective production of fruits, vegetables, and other processable items.
However, various types of alloy steel are typically used for manufacturing agriculture tools. For instance, chromium vanadium steel is an alloy tool steel with chromium (Cr) and vanadium (V), which has better strength and toughness than carbon steel, and is commonly used in hoes, axes, saws, sickles, and pruning shears other tools. As steel is a major component in agriculture tools, the price of steel governs the final cost of the tool. According to the World Steel Association, the demand for steel was expected to increase by 4.5% in 2021 and by 2.2% in 2022. Such increase in demand has the potential to boost global steel prices. Furthermore, changes in the price of energy influence the cost of steel as well as the manufacturing cost of tools. Thus, changes in raw material and energy prices have the potential to restrict the growth of the agriculture tools market.
Also, the rise in demand for efficient, versatile, and labor-saving equipment and tools in farming and agriculture sectors propels the growth of the market. These tools are designed to enhance productivity, reduce physical levels, and improve overall efficiency on the farm. In addition, power hand tools significantly reduce the need of manual labor, making them attractive to farmers facing that face labor shortage or those looking to optimize their work force. Moreover, power tools can perform tasks more quickly and efficiently than manual alternatives, allowing farmers to complete agricultural operation in shorter time frame. Hence, such benefits propelled the growth of the market.
The agriculture tools market is segmented into type, distribution channel, application, and region. By type, the market is divided into shovel, rake, wheelbarrow and other. The Rakes segment dominated the market in 2022. By distribution channel, the market is divided into instore and online. The In-Store segment dominated the market in 2022. By application, it is classified into farms and gardens. The farming segment dominated the market in 2022.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). In 2022, Asia-Pacific was the key shareholder, and anticipated to secure a leading position during the forecast period.
COMPETITION ANALYSIS
Key companies profiled in the Agriculture Tools Market report include, Deere & Company, Fiskars Group, Stanley Black & Decker, Inc., Truper, S.A. de C.V., CHILLINGTON TOOL COMPANY, Apex Tool Group, LLC., Bellota Agrisolutions, The Toro Company, Falcon Garden Tools, and DeWit tools.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the agriculture tools market analysis from 2020 to 2032 to identify the prevailing agriculture tools market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the agriculture tools market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global agriculture tools market trends, key players, market segments, application areas, and market growth strategies.
Senario Analysis & Growth Trend Comparision
Upcoming/New Entrant by Regions
New Product Development/ Product Matrix of Key Players
Strategic Recommedations
Average Selling Price Analysis / Price Point Analysis
Brands Share Analysis
Expanded list for Company Profiles
Historic market data
List of customers/consumers/raw material suppliers- value chain analysis
SWOT Analysis
Key Market SegmentsBy TypeShovel
Rakes
Wheelbarrow
Others
By Distribution ChannelIn-Store
Online
By ApplicationFarming
Gardening
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersDeere & Company
Stanley Black & Decker, Inc.
Bellota Agrisolutions
Chillington Tools
Truper, S.A. de C.V.
Fiskars Group
The Toro Company
Apex Tool Group, LLC.
Robert Bosch GmbH
Falcon Garden Tools
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