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Agricultural Equipment Market is estimated to grow at a CAGR of 10.25% during the period 2017-2024, According to Research Nester

Press Release   •   Apr 18, 2018 01:18 EDT

Market Size and Forecast

Agriculture equipment market is poised to grow at a CAGR of 10.25% over the forecast period i.e.2017-2024. Some of the noticeable trends that the market would perceive include increasing demand for food owing to rising population, favorable government policies on agricultural machinery and rising adoption of precision farming.

The world population is growing at an alarming rate. The population is expected to be more affluent and urbanized, enjoying better diets and living standards. A rising need for food will spur the demand for agricultural products, which would escalate the demand for agricultural equipment such as tractors. In addition, tractor emerged as a leading product in this market. In many countries, government provide extensive support to farmers in order to purchase agricultural equipment to work more efficiently, which is expected to bolster the growth of the tractor segment in the global agricultural equipment market.

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Asia–Pacific region is expected to dominate the market during the forecast period aided by China and India the fastest growing agriculture equipment market. Growing population will increase the demand for food in these countries, which in return will further increase the demand for better harvesting machinery. Europe and North America agriculture equipment market is anticipated to show a moderate growth. With rapid technological development and growing population, agriculture equipment market is expected to increase at a double digit CAGR during the forecast period.

Market Segmentation

Our in-depth analysis segmented the agricultural equipment market in the following segments:

By Product Type

Tractor

Thrasher

Rotavator

Self-Propelled Vertical Conveyer Reaper

Zero Till Seed Drill

Multi Crop Planter

Power Tiller

Laser Land Leveler

Power Weeder

Drip Irrigation Equipment

Sprinkler Irrigation Equipment

Combine Harvester

Rice Transplanter

Power Spray

By Process

Land Development, Tillage, Seed Bed Preparation

Sowing & Planting

Weed Inter Cultivation

Plant Protection

Harvesting & Threshing

Post-Harvest & Agro Processing

By Region

Global agricultural equipment market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis

Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis

Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis

Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth drivers and challenges

The demand for agriculture equipment is expected to witness a significant growth during the forecast period. This growth can be attributed towards shifting of agriculture activity from animal to manual operations. Factors such as government initiatives, rising urbanization rate and time saving properties are shifting the focus of farmers to mechanization and improving their investment power.

There has been an increasing demand for agriculture equipment across several applications, such as land development, plant protection, harvesting, and sowing & planting, which has led to shortage of farm labor. Agriculture is a labor-intensive and time-consuming process. Labor employment has become expensive since, there is a shortage of localized labor supply across the globe owing to shift their focus on agriculture equipment.

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However, agriculture equipment helps in the cultivation but farmers are having financial issues to switch the old equipment with new machinery. This is the factor for dampening the growth of the global agriculture equipment market.

Key Players

The key players for agricultural equipment market are as follows:

AGCO Corp.

CNH Industrial N.V

Iseki & CO. Ltd

J.C Bamford Excavators limited

Kubota corporation

Mahindra and Mahindra limited

Deere & company

Same Deutz-Fahr Group S.p.A. (SDF)

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global agricultural equipment market is segmented as follows:

By Product Type Market Size & Y-O-Y Growth Analysis

By Process Market Size & Y-O-Y Growth Analysis

By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

Read More Information: https://www.researchnester.com/reports/agricultural-equipment-market-global-demand-analysis-opportunity-outlook-2024/292

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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