Belgium Agriculture Machinery Market Outlook to 2027F

Belgium Agriculture Machinery Market Outlook to 2027F

The report provides a comprehensive analysis of the potential of Agriculture Machinery Industry in Belgium. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segmentations include by Agriculture Tractor Market, by Power, by Regions, by Rice Transplanters;growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Belgium Agriculture Machinery Market – which grew from approximately USD ~ Bn in 2017 to approximately USD ~ Bn in 2022P – is forecasted to grow further into USD ~ Bn opportunity by 2027F, owing to the Smart farming, Agriculture 4.0 along with strong government support.

With the growing demand for agricultural commodities and increasing number of government subsidiaries for purchasing agricultural equipment are contributing to the Belgium agriculture machinery market growth.

With the adoption of new technology, agriculture 4.0 and adoption of smart farming are fueling the growth of Belgium agriculture machinery market.

Key Trends by Market Segment:

By Product: The revenue from the tractor market in Belgium increased at a CAGR of ~% during the period 2017 – 2022P. Tractors have been segmented on the basis of power and those that range from 20 to 75 hp were most preferred in Belgium, accounting for the highest total tractor sales volume.

By Combine Harvester: The market revenue from combines harvesters increased at a CAGR of ~% during the same period. Combine harvesters of 70 hp and below accounted for the highest total sales of combined harvesters. Harvesters of 70-105 hp and above 105 hp contributed remaining share respectively to the overall sales of combine harvesters.

Competitive Landscape

In Belgium Agriculture Machinery Market there are about ~ players operating in the overall market, and top 5 players accounted ~% share in the market in terms of revenue. Some of the major players in the Belgium Agriculture Machinery Market are MTZ (Minsk Tractor Factory), New Holland, ASI, Oliver Farm Equipment Company and John Deere etc.

Future Outlook

The Belgium Agriculture Machinery Market is projected to show a significant growth, to contribute ~ Bn by 2027F with the rising awareness for the advance equipments, increasing demand for agriculture equipment rental services, use of smart farming, integration of Agriculture 4.0 along with strong government support. The growth rate of total market size is anticipated to increase over the period with surge in rising food demand along with government incentives and policies.

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