Powered Agriculture Equipment Market Size to Grow at Highest CAGR from 2019 To 2023 - AGCO, John Deere, Mahindra & Mahindra, CNH Industrial, Kubota, CLAAS, Alamo Group, Escorts GroupMarket reports linked to the industrial automation and equipment technology industry have been offered by Market Research Future which makes reports on other industry verticals that aims to study the current market scenarios better. The market is likely to achieve revenues worth USD 99.89 billion while developing at a CAGR of 5.43% in the period of the forecast.
The surge in agricultural activities worldwide and the rising need to achieve the food requirements of the global population has amplified the demand for powered agricultural equipments. The decline in the number of laborers available for farming activities has decreased significantly and this factor has motivated the expansion of the powered agricultural equipments market. The multifunctional nature of powered agricultural equipments is projected to increase the demand favorably in the coming period.
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The incidence of productive units is projected to generate more sales or greater margins as compared to its market adversaries. The commencement of new technology is furthering the growth capability of the market. The market has the elements for displaying a better comparative or differential value. The market trends imply beneficial growth of the products that can bring in improvement to the product range and tackle the customer need better. Considerable reductions in administrative finances are bringing more developments to the market. The making of a strong value chain is additionally encouraging the development of the market. The market contestants find themselves in a promising position with the capacity to handle the pace of change.
The significant contenders in the powered agriculture equipment market globally are CNH Industrial (U.K), AGCO Corporation (U.S.), CLAAS Group (Germany), John Deere & Co. (U.S.), Mahindra & Mahindra Ltd (India), SDF S.P.A. (Italy), Escorts Group (India), Kubota Corporation (Japan), Alamo Group Inc. (U.S.), Iseki & Co. Ltd (Japan), and others.
The segmental analysis of the powered agriculture equipment is carried out on the basis of product type and region. Based on product type, the powered agriculture equipment is segmented into combine/combine harvester, tractors, soil preparation & cultivation equipment, sprayer, seed drill, and others. The regions that are covered in the purview of the powered agriculture equipment market are Asia Pacific, Europe, Asia Pacific and rest of the world.
Detailed Regional Analysis
The analysis of the regions in the powered agriculture equipment market are Asia Pacific, Europe, Asia Pacific and rest of the world. The Asia Pacific region is accountable for a majority share of the market as the region has more than 60% of the world’s population and is projected to grow in the future, owing to which the country is facing issues related to food shortage. The rising population in the region has generated the requirement for growing food production. The use of agricultural equipment and machinery has been recognized to be an efficient way to grow food productivity. Moreover, nations such as China, India, and Indonesia, are promoting agricultural production in the Asia Pacific region. In India, a huge number of people are linked with the agriculture sector. The foremost factor that is supporting the market is the number of subsidies being granted both by the central and state governments, which is motivating the farmers to acquire farm equipment. The North American region is a core producer of corn, wheat, and soybean, which necessitates the use of agricultural equipment, thus motivating the development of the market. The US is responsible for the chief share in the North American region. The European market is accredited for around 24.7% share in the agriculture equipment market globally in the year 2016. France and Germany are the foremost markets in the European region. Germany is among one of the principal exporting nations of agriculture machinery in the world and is graded first when it comes to agriculture equipment market in the Western European region. Fendt and John Deere are among the principal agriculture tractor manufacturers and suppliers in Germany.
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1 Executive Summary
2.2 Scope Of The Study
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1.1 Growth In Agriculture Sector
4.1.2 Rise In Global Population
4.1.3 Easy Credit And Subsidies Availability In Asian Markets
4.1.4 Rising Demand For Advanced Agricultural Machinery
4.2.1 Fluctuating Weather Conditions & Farming Calendars
4.2.2 Dynamic Economic Environment
4.2.3 High Cost Of Machinery
4.3.1 Improved Credit Availability
4.3.2 Government Subsidies
5 Market Factor Analysis
5.1 Porter's Five Forces Analysis
5.1.1 Threat Of New Entrants
5.1.2 Bargaining Power Of Suppliers
5.1.3 Bargaining Power Of Buyers
5.1.4 Threat Of Substitutes
5.2 Supply Chain Analysis
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