Agriculture Equipment Market Size and Growth Rate:
Agricultural
Equipment Market size was valued USD 144.10 billion in 2014, 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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Agriculture Equipment Market Overview:
The agricultural and farming teams consist of
a wide range of machines and tools that help to carry out various processes
that improve the quality and quantity of production. The introduction of the
machinery has changed enormously and has had the advantages of saving time,
reducing labor costs and using adequate contributions to achieve the desired
results.
Agriculture Equipment Market Growth Drivers and Restraints:
It is expected that demand for agricultural
equipment will grow considerably during the forecast period. This strong growth
can be attributed to the automatic conversion of agricultural activities in
animals or in manual operations. The world population grows enormously. The
population is expected to be more prosperous and urbanized to enjoy a better
diet and standard of living. As demand for food increases, demand for
agricultural products will increase, which will increase demand for
agricultural equipment, such as tractors. Many government agencies carry out
initiatives to educate farmers on the benefits of using equipment for
agriculture.
Factors such as government initiatives,
urbanization speeds and time-saving real estate make the concentration of farmers
in the mechanization and improvement of their investment. Training programs
directed at the government for engineers, farmers and machine users are another
important factor that is expected to boost the demand for tractors during the
forecast period. In addition, it is expected that the increase in the use of
cost savings strategies for the design of agricultural machinery will provide
great growth opportunities. With the increase of public subsidies, it is
expected that the number of suppliers will increase and that they will offer
growth opportunities for the expansion of the market.
Geographical
Analysis of Agriculture Equipment
Market:
North America, Europe, Asia Pacific and LAMEA
are the significant regions of the global agricultural equipment market. In
2015, the Asia-Pacific region generated the highest revenues of the market. It
is likely that North America and Europe will see a slow growth during the
forecast period due to the high rates of mechanization existing in the
agricultural industry. In the Asia-Pacific region, it is expected that India
and China show high growth rates. The low rate of mechanization in the
agricultural sector will create opportunities for the adoption of mechanized
agricultural practices in the region, which will lead to rapid growth of the
market.
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Key Players of Agriculture
Equipment Market:
The main companies in the market of
agricultural machinery are CNH Global NV, Deere and Company, CLAAS KGaA mbH,
AGCO Corporation, JC Bamford Excavators Limited (JCB), Alamo Group, Inc., Iseki
& Co., Ltd., Same Deutz-Fahr, Mahindra & Mahindra Limited and Yamabiko
Corporation.
Agriculture Equipment Market Segmentation:
By Product:
·
Tractors
·
Harvesters
By
Application:
·
Harvesting & Threshing
·
Sowing & Planting
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and Africa
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