Agriculture and Farm Equipment Market: Current Applications and Tomorrow's Potentials Focusing on Key Players Like John Deere, Mahindra and Mahindra Limited, AGCO Corporation, CLAAS
According to a new research published by Polaris Market Research the worldwide Agriculture and Farm Equipment market is anticipated to reach over USD 272.1 billion by 2026. In 2017, the farm tractors segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
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CNH Industrial N.V.
Horsch Maschinen GmbH
Mahindra & Mahindra Limited.
Morris Industries Ltd.
CLAAS KGaA mbH
There has been an increasing adoption of Agriculture and Farm Equipment across the world owing to growing agricultural industry, and high-demand for food crops. The growing population, and increasing mechanization of farm operations further supports market growth. The global Agriculture and Farm Equipment market is driven by the increasing need to improve the quality of crops produced, maximizing crop production, and enhanced productivity.
Other factors driving the growth of this market include growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. Integration of technologies such as automation and robotics along with support and subsidies from governments further supplement the growth of this market. However, high initial investment restricts the growth of the agriculture and farm equipment market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
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Latest types of farm machinery and equipment are used in the agriculture sector to reduce costs and to increase the quality, profitability and efficiency. These types of machinery are used for various processes such as –
• Management of remains from previous harvests
• Compost delivery and application
• Cultivation of the soil
• Pest control
• Sowing, planting
• Storage of crops
• Premarketing processing
• Water conservation
• Pollution control
Various product types of agriculture and farm equipment include planting and fertilizing equipment, farm tractors, irrigation equipment, haying equipment, harvesting equipment, plowing equipment, and others. In 2017, farm tractors accounted for the largest share in the global market. Farm tractors form an important part of farm operations such as pulling or pushing agricultural machinery, plowing, tilling, disking, harrowing, and planting among others.
The well-known companies profiled in the report include Agrocenter Ltd., CNH Industrial N.V., Amazone Ltd., Horsch Maschinen GmbH, John Deere, Kubota Corporation, Mahindra & Mahindra Limited., Morris Industries Ltd., AGCO Corporation, Agromaster, CLAAS KGaA mbH, and Escorts Group among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Reasons driving the growth in Global Agriculture and Farm Equipment Market
• Increasing demand for food harvests
• Rising demand from developing economies
• High-tech technical advancements
• Necessity to produce superior quality of crops
• Decreasing accessibility of resources/labour
• Increasing labour charges
About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping the
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