Agricultural Equipment
Market Size and Growth Rate:
The
Global Agricultural Equipment
Market size was valued at USD 144.10 billion in 2014 and it is
expected to reach USD XX.XX Million by the end of 2022, with increasing at a
CAGR of 8.7% during the forecast period 2015-2022.
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Equipment Market @ https://www.researchcosmos.com/reports/agricultural-equipment-market/604449368
Agricultural Equipment
Market Overview:
Agricultural
equipment market is greatly moving forward with huge benefits during the
forecast period. Agriculture equipments operate in the farm which reduces the
human power and also yields effective production. There many types of equipment
for farming from hand tools to power tools to tractor that can operate both in
organic andinorganic farming.The source for power engines is diesel and petrol.
Mostly diesel is used in the machines as it islow cost comparatively. Tractors
play crucial role in the farming to push/pull implements and also other works. Agriculture
equipment completely made the tasks simple and also completing the task in very
less time than expected. Aerial spraying is also making efforts to produce good
harvest for the farmers.
Agricultural Equipment
Market Growth Drivers and Restraints:
The
rapid increasing population and growing demand for food supply is a key driving
factor for the growth of the market. The huge support from the government in
investments on the agriculture due to growth in the economy is propelling the
demand of this market.
However,
the restrictions from law in preventing legal rights from using some equipment
are hampering the growth of the market. Also, the cost for installation of
these equipments is bit expensive which cannot be affordable by poor people is
remained as a challenging factor for the market developers.
Emergence
of software techniques in monitoring the farm through computer and also launch
of GPS locators are leveraging the growth opportunities of the market. Also,
the reduced labor cost and change in economic strategies are prompting the
growth of the market in coming years.
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Agricultural Equipment
Market Geographical Segmentation:
Geographically,
the agriculture equipment market is bifurcated into Asia pacific, North
America, Europe, Middle East and Africa. Asia Pacific is the one ruling the
highest shares of the market. The growing population and rise in the support
from the government are largely boosted up the demand of the market in this
region. Following Asia pacific, North America is leading the shares of the
market with the increased capital income and by launching innovative machines
with latest technology. Europe is also accounted to have prominent shares in
the market by increasing utilization of advanced equipments to yield better
crop production. Middle East and Africa is inclined to have fastest growth rate
in the near future.
Key players of the Agricultural
Equipment Market:
The key
players involved in the agriculture equipment market are John Deere, AGCO,
Mahindra & Mahindra, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota.
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