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Agriculture Equipment

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Agriculture equipment market report categorizes the global market by product type (Tractors, Combine Harvesters, Rotavators, Power, Tillers, Seed Drill, Thresher, Power Weeder, and Others) and by geography. Report includes, global industry insights
Agriculture Equipment Market by Product Type and by Geography Global Trends and Forecast to 2025
Global agriculture equipment market have generated the revenue of US$ 103,463.9
million in 2016 up from US$ 100,321.0 million in 2016. By 2025, the agriculture
equipment market is expected to generate a revenue of US$ 136,527.1 million with a
CAGR of 3.53% in the forecast period. According to Population Reference Bureau,
the world wide total population was 7,536 million in 2017 and is projected to reach
8,563 million by 2030. Increasing population is propelling demand for food, which in
turn accelerated the demand for equipment’s in agriculture industry to reduce
production time, increase efficiency, and save cost.
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Increasing government initiatives accelerated growth of the agriculture
equipment market
Increasing population is major challenging factor for government of various
economies. Increasing population have increased the demand for food and it is
important for the government of various countries to support the agriculture industry
by providing subsidiaries schemes and availability of advance equipment’s in low
cast. For instance, in India, Department of Agriculture, Cooperation and Farmers
Welfare started Sub-Mission on Agricultural Mechanization schemes in 2014 to
provide subsidiary to farmers on machinery.
The tractor segment held the dominant position in 2017
On the basis of product type, market is segmented into Tractors, Combine
Harvesters, Rotavators, Power Tillers, Seed Drill, Thresher, Power Weeder, and
Others. The tractor segment held the dominant position in the agriculture equipment
market and is projected to retain its dominance throughout the forecast period. In
2017, the tractor segment generated the revenue of US$ 80,396.8 million and is
expected to reach US$ 105,732.9 million by 2025 with a CAGR of 3.48%. The
tractors are essential farming equipment’s used for various activities, both as
standalone equipment and with other implements. Moreover, rising mechanization
trend in agriculture is a major factor for the growth of segment in the agriculture
equipment market.
North America held the dominant position in Agriculture Equipment market in
2017
On the basis of geography, the Agriculture equipment market is segmented into
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The
North America region held the dominant position in the market in 2017 and is
projected to retain its dominance throughout the forecast period. In 2017, the North
America generated the revenue of US$ 37200.0 million and is expected to reach
US$ 48774.5 million by 2025 with a CAGR of 3.44%. The U.S. and Canada are
major economies driving the growth of agriculture equipment market in this region.
The availability of advance machines with better fuel efficiency and advanced
features have encouraged farmers to purchase the new machinery for agriculture.
Furthermore, the government support by implementing various program and scheme
is also one of the major factor for the growth of agriculture equipment market in this
region. For instance, the Canada government stared Canadian Agricultural Loans
Act program is a federal loan guarantee program, which is designed to increase the
lean availability for the development and improvement of farmers.
Key Players- Global Agriculture Equipment Market.
The major players operating in the global agriculture equipment market include
AGCO Corporation, Agrostroj Pelhrimov A.s, China National Machinery Industry
Corporation, Concern Tractor Plants, Deere & Company, Escorts Limited, Mahindra
Group, Same Deutz-Fahr Group (SDF), Valmont Industries Incorporated, and
Weifang Euroking Machinery
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apeksha motghare
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