Press release
Agriculture and Farm Equipment Market To Surpass $272.1bn by 2026: John Deere, CNH Industrial, Kubota Corporation, Mahindra & Mahindra Limited, Morris Industries Ltd., AGCO Corporation
agriculture and farm equipment market
According to Polaris Market Research, The Global Agriculture and Farm Equipment Market was valued at USD 132.7 billion in 2017 and is projected to reach USD 272.1 Billion by 2026, growing at a CAGR of 8.8% from 2018 to 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.
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.
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Agriculture and Farm Equipment Market Top Industry Players:
• 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
• Escorts Group
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.
Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing population, and growing demand for high quality crops drives the growth of this market. Increasing cost of labor, and growing automation in agricultural practices further support market growth.
Browse report summary of Agriculture and Farm Equipment Market analysis: https://www.polarismarketresearch.com/industry-analysis/agriculture-and-farm-equipment-market
Increasing investments and subsidies in the agriculture sector by governments are expected to boost the Agriculture and Farm Equipment market growth during the forecast period in the region. Increasing need to improve food quality and productivity along with increased industrialization of farming equipment further supplements market growth.
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.
By Segments:
By Product (Planting and Fertilizing Equipment, Farm Tractors, Irrigation Equipment, Haying Equipment, Harvesting Equipment, Plowing Equipment, Others)
By Regions
• North America [U.S., Canada, Mexico]
• Europe [Germany, UK, France]
• Asia-Pacific [China, India, Japan, Rest of Asia-Pacific]
• Latin America [ Brazil, Mexico]
• Middle East and Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. 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 them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
Contact us
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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