Introduction of the Egypt Farm Equipment Market Report

Farm equipment refers to machinery used in farming or other agricultural activities. There are numerous equipment types, starting from hand tools and power tools to tractors and various other kinds of farm implements. The continuous innovation in agricultural machines is changing the way that humans operate machines, such as usage of computer monitoring systems, self-steer programs, and GPS locators.

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Market Dynamic

Key Drivers and Emerging Trends

In recent years, the Egyptian agriculture sector has experienced a steady growth, which has provided a healthy pace to the growth of market. According to “Food and Agriculture Organization of the United States”, agriculture sector of Egypt contributes with more than 20-30% of the GDP, which has primarily driven the Egypt farm equipment market. Economic liberalization in the country has significantly helped the farming sector, which has led to an increase in the demand for machinery and equipment. According to “International Fund for Agricultural Development”, Egypt’s total population has increased rapidly over the last 25 years, to more than 70 million in 2019. Recent shifting trends in high-value products, such as vegetables and fruits, are rapidly displacing traditional commodities’ exports. In addition, the low farm holding structure among small farmers across Egypt has inhibited them from purchasing new machinery. It is projected that local rental companies will increase their demand for purchasing combine harvesters to lease or rent them to farmers. Thus, manufacturers and dealers of agricultural tractors will look forward to tie up with banks and financial institutions to provide farmers with cheap credit so they can procure new machinery.

Sophisticated technologies such as GPS and robotics are improving equipment efficiency to a great extent. The technology enables remote handling of the equipment, increasing the accuracy of farming. Sensors help provide precise data about the soil conditions and weather, helping farmers boost the yield. Various technological advancements in the equipment such as the introduction of ground-based sensors, autonomous tractors, and flying drones have helped the farmers produce food at a reduced cost to meet the increasing demand for food. In addition, the strong demand for different farm products across various applications such as land development, plant protection, harvesting, sowing, and planting, has surged the demand for the farm equipment in the country.

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Restraint in the Egypt Farm Equipment Market

However, the high cost of the machinery and lack of skilled professionals may hinder the market’s growth over the forecast period.

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Key Developments:

• • In 2021, Tractors and Farm Equipment Limited officially launched dynatrack series for agriculture, which is world’s first tractor versaTech technology.

 

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Key questions answered in this research report:

• • At what pace is Egypt farm equipment market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Egypt farm equipment market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of Egypt farm equipment market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
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