The horse drawn farming equipment sector is poised for notable growth, with an anticipated Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. As of the current year, 2023, the market for horse-drawn farming equipment is estimated to be valued at approximately US$ 4.48 billion. The industry is on a promising trajectory, with expectations that its market worth will ascend to US$ 7.66 billion by the year 2033.
The horse-drawn farming equipment industry, historically characterized by the utilization of horses or equines to power farm machinery such as ploughs, harrows, and threshing machines, has witnessed a transition over time. This method of farming, prevalent in the 18th and 19th centuries, has since undergone substantial transformation, yielding ground to the widespread adoption of tractors and mechanized equipment in modern agriculture.
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Horse drawn farming was popular in the early days of agriculture, however, tractors and other automated equipment had already entirely overtaken it. Yet there are still areas of the world where farm machinery is pulled by horses. This is apparent, especially in places where access to mechanized equipment is constrained or where riding horses is customary.
Horse-drawn agricultural machinery is typically employed in poor nations for small-scale, organic, and ecological farming. As people are becoming more conscious of the ecological and social advantages of sustainable farming, there is a growing demand for food that has been grown organically. Horse-drawn equipment deployment reduces greenhouse gas emissions as horses don’t need gasoline. So, compared to tractors, this method of farming produces less carbon output.
Despite being a small sector, it has recently experienced growth as more individuals have begun to choose sustainable and conventional agricultural methods. Thus, there is less reliance on fossil fuels. Owing to horses’ capacity to till the soil without compacting it, it can also enhance soil quality and reduce land degradation.
The horse drawn farming equipment market is dominated by North America. Among small-scale farmers who are committed to preserving conventional practices and machinery, there remains a growing market for horse-drawn farming equipment.
Key Takeaways:
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 9%through 2033.
- The United States dominated the market in 2022 holding a 30.1%share of the global market.
- In 2022, Japan held a 7%market share globally.
- With a CAGR of 5%over the forecast period, India is predicted to develop rapidly in the market.
- The market in China is expected to proliferate, registering a CAGR of 4%over the forecast period.
- Germany accounted for 7%of the global market in 2022.
Key Players:
- Alberta
- Capodanno Villa Mazzucchelli
- Innoquest, Inc.
- Aaron Martin
- Attelmat
- Avril Industrie
- B W Macknair & Son
- B Z Machinery
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Recent Developments:
- To make room for more equipment, I&J Manufacturing expanded the plant in 2021. I&J Manufacturing currently manufactures accessories for tractors in addition to horse-drawn equipment, serving the United States.
- To this day, Pioneer Equipment Inc. continues to be a leader in equipment invention. Following the establishment of Ackerman’s Equipment & Rental in 2018 and the procurement of Mt. Hope Elevator in 2020, the company witnessed a series of reforms. It is now able to serve the wider population in more capacities than it did with only Pioneer Equipment offerings.
Key Segments:
By Type:
- Sweep
- Mower
- Vegetable Digger
By Sales Channel:
- Direct Sales
- Retail Sales
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
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