COVID-19 IMPACT SURVEY MAY 2020
The global Tiller Machine market is projected to reach US$2.5 billion by 2025, driven by the robust outlook for floriculture and environmental horticulture; and lucrative opportunities in the agricultural sector. The growing consumer emphasis on leading healthy, active, outdoor lifestyles is creating new opportunities in gardening. A growing number of homeowners are investing in DIY gardening projects. The trend towards outdoor/backyard living with furnished patio, dining area, barbeque kitchens, activity areas like swimming pool, lounge area is creating increased need to maintain gardens and outdoor landscapes. Also, the growing focus on organic foods is resulting in a growing number of consumers developing their own organic vegetable gardens in their backyards. Given that garden spaces increase home value, there is growing interest in planting different types of shrubs, trees, and herbaceous plants in residential yards. In addition, municipalities are stepping up their investments in environmental horticulture to create public gardens and ornamental horticulture to rehabilitate degraded sites. In the hospitality sector, strong emphasis is laid on gardenscapes given the commercial benefits of having gardens. All of these factors are benefiting demand for smaller petrol powered tillers.
In the agricultural sector, opportunities are dictated by growing world population; the rising pressure on food production, productivity and yields; and growing importance of mechanized agricultural technologies against the backdrop of spiraling labor costs and labor shortages.
Benefits offered by mechanization, in this regard, include increase in per man productivity; increased production in the form of higher yield of land per unit of area; lower cost of labor and a parallel reduction in cost of production and food prices; aids in better use of land; helps preserve soil fertility and reduce risk of soil erosion; helps farmers shift from subsistence farming to commercial agriculture; reduces dependence on labor and decouples the industry from labor shortage risks; and higher farm income. While electric tillers are growing in popularity for gardening and landscaping activities, diesel tillers are witnessing strong demand in small agricultural farmlands. The United States and Europe represent large markets worldwide with a combined share of 49.6%. China ranks as the fastest growing market with a 3.8% CAGR over the analysis period as the countrys expanding base of wealthy population look for peace in green spaces amidst the hectic bustle of urban life. Increase in the number of luxurious villas and homes with winding garden walkways lined with trees, magnolia, chamomile and begonias, bode well for the sales of garden tillers and cultivators. The countrys progress made in sustainable farming is evident in the profitability of small farmlands. Agricultural projects involving new concepts of sustainability, integrated farming, mechanization and farm management practices implemented by the Chinese government have successfully reached almost 22 million farmers across 40 million hectares of land. The scenario bodes well for powered agricultural/farm tillers in the country.