Energy Efficient Agricultural Technologies Industry - Applications and Global Markets, Opportunities and Forecasts 2020

Press Release   •   Feb 16, 2016 19:38 IST

Transparency Market Research (TMR) presents a research report on the global energy efficient agricultural technologies market to comprehend the market’s progression for the 2014-2020 period. The research report provides valuable insights in the economic value of utilization of sustainable farm practices, which includes techniques and equipment.

Agriculture has always been an important element of a nation’s economy. The development of farm practices to cater to the increasing demand for food has necessitated the use of heavy machinery and equipment to complement modern agricultural techniques. Nevertheless, the downside of this is excessive utilization of energy for the functioning of modern equipment for higher agricultural output.

In present times, energy saving and prudent consumption of energy is the need of the times and applies at all levels of energy utilization. In this regard, in the agricultural sector, energy efficient programs have been developed for conserving energy at all levels. This includes technologies for sustainable energy consumption and farm management practices that complement these technologies.

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In many parts of the world, economic growth of rural areas, attainment of food and energy security, government subsidies on the purchase of energy efficient farm equipment and provision for technical guidance, and free energy auditing for farmers are the major factors driving the energy efficient agricultural technologies market. However, in Asia Pacific and Rest of the World, lack of properly laid out farm management programs and policies prohibits farmers from adopting and abiding new school of thought practices for crop production. Moreover, in these regions, agriculture is the major occupation of farmers living in rural areas, wherein the reach of government programs for newer farm practices is limited. Thus, the benefits of energy efficient agricultural technologies are observed only by a small population.

In the bid for attaining food security, governments of several countries have been offering subsidies for farmers for utilization of fossil fuels and electricity for agricultural needs. This, however, results in heavy losses to be borne by governments, necessitating sustainable development plans. Using energy efficient technologies will be beneficial in the form of reduced dependence on energy and contribution towards sustainable development. Slashed electricity bills for farmers and their contribution towards reduced carbon emissions are the direct boons of energy efficient technologies for agricultural practices. Rebates applicable on the purchase of energy efficient equipment will encourage farmers to consistently utilizing the equipment, which in turn will benefit the energy efficient technologies market.

Technology and geography are the two criteria based on which the global market for energy efficient agricultural technologies is divided. Technologies that are used for boosting the energy efficiency in the agriculture sector are aimed to be suitable for large agricultural farms, rural small businesses, and ranches.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.