Market Trends of Italy Agricultural Machinery Industry
This section covers the major market trends shaping the Italy Agricultural Machinery Market according to our research experts:
Growing Preference for Farm Mechanization
There is a growing need for farm mechanization in the region, as farmers income has not been able to keep pace, such as to cater to the increasing cost of production, including labor wages. Their is a firm shortage of farm labor which is reflected through the total percentage of employment in agriculture falling drastically from from 3.88% in 2016 to 3.77% in 2019. Thus, shortage of farm labor is giving way to rise in wage rates, thereby allowing the farmers to adopt farm mechanization including tractors in the region This, in turn, is expected to drive the market growth for agricultural machinery in the region
Rise in Technological Advancement
Farmers in the region are looking for tractors with tailored features, which can fulfill their needs for effective farming. So, in order to meet consumer demand, many international and domestic agriculture machinery manufacturers are coming up with new technologically-advanced tractors, which can handle various farming applications. For instance, In 2017, Kubota launched several new products such as the M7-1 tractor series with 170 horsepower for Italy midsize farmland. The premium M7-1 features includes variable transmission (CVT) and integrated touch screen terminals and emission technologies.
