Westford,USA, March 21, 2023 (GLOBE NEWSWIRE) -- The Asia Pacific region is poised to continue its dominance as the primary growth center for the grain processing equipment market as it experiences an increase in sustainable agriculture practices, growing personal disposable income, and rising demand for high-quality foods. In addition, factors such as changing lifestyles, globalization, and a rapidly expanding global population are key drivers of growth in this market. Manufacturers are also increasingly incorporating advanced technologies into their grinding equipment and expanding distribution channels to meet the growing demand for processed grains. Furthermore, as consumers' tastes and preferences evolve, the need for innovative grain processing solutions will become even more pronounced.
According to the latest research by SkyQuest, the global agriculture equipment industry is expected to grow significantly in the coming years, with an estimated value of USD 245.98 billion by 2028. The report suggests that a CAGR of 7.2% will drive this growth. This projected growth is particularly encouraging for the grain processing equipment market, which is expected to see a rise in demand due to the overall growth in the agriculture equipment industry. Furthermore, with the increasing demand for processed grains globally, the market for grain processing equipment is likely to witness high growth prospects in the coming years.
Browse in-depth TOC on the "Grain Processing Equipment Market"
- Pages - 274
- Tables - 61
- Figures - 64
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Grain processing equipment refers to various machines used in the agricultural industry to process raw grains into usable products. Using these machines can improve efficiency, reduce waste, and increase the overall quality of the end product. With advances in technology and automation, these machines are becoming increasingly sophisticated and capable of handling larger volumes of grain with greater precision and accuracy.
Prominent Players in Grain Processing Equipment Market
- Forsberg Agritech (India) Pvt. Ltd.
- Monsanto Company
- Osaw Agro Industries Pvt. Ltd.
- AGCO Grain and Protein
- Lewis M. Carter Manufacturing, LLC.
- Avity Agrotech Private Limited.
- Ganesh Engineering Works
- Alvan Blanch Developments Company Limited
- PETKUS Technologies GmbH
- Lianyungang Huantai Machinery Co., Ltd.
- WESTRUP A/S
- Monsanto Company
- Golfetto Sangati S.r.l.
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Semi-Automatic Grain Processing Equipment Segment to Drive High Sales as It Provides High Efficiency and Accuracy in Grain Processing
The grain processing equipment market has witnessed a significant surge in revenue over the past year, and much of this growth can be attributed to the increasing popularity of semi-automatic grain processing equipment. In 2021, this type of equipment has contributed a substantial share of revenue to the overall market, and industry experts predict that its prospects are looking quite positive for 2022 to 2028. One of the key advantages of semi-automatic grain processing equipment is that it can significantly increase efficiency and productivity in grain processing operations while reducing labor costs.
The Asia Pacific region has continued to be a major growth driver in the grain processing equipment market, and this trend is expected to continue in the coming years. According to the regional outlook, the Asia Pacific region will likely strengthen its lead in this market from 2022 to 2028. Firstly, the increasing population in the region is driving demand for food products, which in turn is leading to the growth of the food processing industry. In addition, the Indian government's PM Kisan Samman Yojana scheme has announced a new initiative to provide a 50% to 80% subsidy on purchasing agricultural machinery. The subsidy the government provides will benefit not only the farmers but also the manufacturers of agricultural machinery.
Processing Equipment Segment to Grow Swiftly owing to Integration of New Technologies Improving Processing Quality and Reducing Energy Consumption
The grain processing equipment market has grown substantially recently, with the processing equipment segment retaining its leading position in 2021. This segment is likely to continue its dominance in the market in the coming years as well, registering a high CAGR during the forecast period from 2022 to 2028. Processing equipment plays a crucial role in the grain processing industry, as it helps clean, sort, and process grains to make them suitable for consumption or further processing. With the increasing demand for processed grains and the growing population, the demand for processing equipment is also rising.
In the grain processing equipment market, North America emerged as a highly promising force in 2021. The region has shown remarkable growth and is expected to continue in the coming years, with a high growth rate predicted from 2022 to 2028. One of the key factors driving the market growth in North America is the increasing demand for processed grains across various industries. According to a recent report by SkyQuest, the sales of tractors showed a significant increase from 581.5 thousand units to 899.4 thousand units in 2021. This growth in sales is a positive sign for the market as it suggests an increase in demand for agricultural machinery.
SkyQuest's research report presents a thorough overview of the industry, highlighting emerging trends and market patterns while assessing the crucial dynamics of the global market. The report's findings are based on extensive research and analysis from various industry sources. As a result, the report presents a wealth of information that will be valuable to stakeholders and decision-makers in the grain processing equipment market. The research report also thoroughly analyzes the regional markets, highlighting key drivers and challenges specific to each region.
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Key Developments in Grain Processing Equipment Market
- A Canadian feed company has recently made a strategic acquisition by purchasing a grain processing plant. The move is expected to provide the company with greater control over its supply chain and enhance its ability to meet the demands of its customers. The new processing plant will enable the company to process its grain and ensure a consistent supply of high-quality feed for its customers.
- ABP's Immingham facility is set to increase its grain handling capacity, signaling a significant investment in the UK's agriculture sector. The expansion project is expected to provide farmers and traders greater access to international markets, ensuring grain products' efficient and timely delivery. The project will involve installing new state-of-the-art equipment and infrastructure to enhance the facility's capabilities and efficiency.
- Sukup Manufacturing Co., a leading provider of agricultural equipment, has announced the opening of a new facility in northern Iowa. This expansion comes as a response to the increasing demand for their products and services and the need to serve their customers in the region better. The new Sheffield, Iowa facility will provide additional production capacity for the company's grain bins, dryers, and other agricultural equipment.
Key Questions Answered in Grain Processing Equipment Market Report
- What is the outlook for the global market in the coming years, and what factors are likely to shape its growth trajectory?
- What are the key technological advancements driving growth and innovation in the market, and how are they being adopted by industry players?
- What key consumer trends influence the market, and how are industry players adapting to meet changing consumer demands?
- What are the major opportunities for new market entrants, and what strategies can they use to succeed in an increasingly competitive market?
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