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Livestock Farm Equipment Market Size Is Anticipated To Reach USD 19.3 Billion By 2027 : Grand View Research Inc.

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Livestock Farm Equipment Market Size Is Anticipated To Reach USD 19.3 Billion By 2027 : Grand View Research Inc.

September 02
03:00 2020
Livestock Farm Equipment Market Size Is Anticipated To Reach USD 19.3 Billion By 2027 : Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Continued implementation of advanced technologies in the agriculture sector to augment operational efficiency is expected to drive the market over the forecast period.

Livestock Farm Equipment Market Growth & Trends

The global livestock farm equipment market size is expected to reach USD 19.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.4% over the forecast period. Aggressive investments being made by farm owners to automate dairy and poultry farms are expected to drive the market over the forecast period. Increasing spending on agricultural equipment across the globe also bodes well for market growth. Market players are expected to introduce innovative livestock farm equipment based on the latest technologies, such as IoT and artificial intelligence, thereby contributing to market growth.

Domesticated animal farming is gaining traction in line with the growing population and the changing food habits of individuals. The growing consumption of meat among individuals is particularly driving domesticated animal farming and hence the demand for the tools. At the same time, the increasing consumption of milk, which is encouraging cattle farming, and the rising consumption of eggs, which is encouraging poultry farming, also bodes well for the growth of the market over the forecast period. The demand for tools used in domesticated animal farming is growing as the owners are increasingly opting for such tools to increase the yield and augment revenues and to protect their domesticated animals from diseases by maintaining cleanliness and better hygiene.

The equipment can potentially reduce the costs associated with feeding, cleaning, and monitoring the animals. The owners opt for different equipment depending upon the type of domesticated animals they are farming. For instance, electric cages are used for poultry animals, such as hens, and ducks. Electric cages can ensure proper shelter for poultry animals while reducing the space occupied. The growing preference for electric cages for poultry farming is expected to drive the growth of the market over the forecast period. The owners are also opting for dedicated tools for feeding and monitoring their domesticated animals.

However, the high costs associated with the tools are anticipated to challenge market growth as the owners would deliberate before investing in such equipment. The costs associated with regular maintenance are also expected to restrain the market growth. The outbreak of the COVID-19 pandemic is equally expected to impede market growth in the short term as lockdowns in various parts of the world have disrupted the supply chains and have hampered the equipment production. Nevertheless, the demand for the tools is poised for stable growth in the long term as more and more farm owners opt for automation to overcome the looming workforce shortage.

Europe livestock farm equipment market size, by product type, 2016 - 2027 (USD Billion)

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Livestock Farm Equipment Market Report Highlights

  • The feed equipment segment is projected to witness significant growth over the forecast period as farm owners look for efficient means to feed the domesticated animals

  • The housing equipment is expected to account for a substantial share of the market over the forecast period as housing or shelters continue being farm owners’ essential requirement to accommodate domesticated animals

  • The poultry farm segment is expected to register the highest CAGR and control a considerable share of the market over the forecast period in line with the rising consumption of eggs and poultry meat across the globe

  • Asia Pacific held the largest market share of more than 30.0% in 2019 and is expected to continue dominating the market over the forecast period as the region is home to significant market players

  • Market incumbents are continuously improvising their product portfolio and catering to all the requirements associated with domesticated animal farming. The market is highly fragmented due to the presence of regional players.

Global livestock farm equipment market share, by end users, 2019 (%)

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Livestock Farm Equipment Market Segmentation

Grand View Research has segmented the global livestock farm equipment market based on product type, end-users, and region:

Livestock Farm Equipment Product Type Outlook (Revenue, USD Million, 2016 – 2027)

  • Milking Equipment

  • Cleaning Equipment

  • Egg Handling Equipment

  • Feed Equipment

  • Housing Equipment

  • Livestock Handling

  • Foggers, Coolers, and Heaters

  • Others

Livestock Farm Equipment End-users Outlook (Revenue, USD Million, 2016 – 2027)

  • Poultry Farm

  • Dairy Farm

  • Swine Farm

  • Others

Livestock Farm Equipment Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

List of Key Players of Livestock Farm Equipment Market

  • Pearson International LLC

  • Bob-White Systems

  • Murray Farm care Ltd. 

  • Afimilk Ltd

  • FarmTek

  • Royal Livestock Farms

  • Real Tuff Livestock Equipment

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
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Country: United States

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