Agricultural Machinery Market Essential Insights and Investment or Market Worth $ to 2023 ()

Agricultural Machinery is machinery used in farming or other agriculture. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Agricultural Machinery Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions.

The global agricultural machinery market is projected to witness significant growth from 2016 to 2022 and is expected to be valued over USD 200 billion by 2024 on account of upcoming technologies in the industry coupled with improved economic conditions and rising farm income. These factors are expected to boost industry growth over the next seven years.

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The costs of raw materials used in the manufacturing of agricultural machinery including rubber, iron and steel have also increased drastically over the past few years. Manufacturers and vendors have serious concerns over the fluctuating prices of raw materials and are hence under pressure from the numerous competitors in the market to provide products that are not only efficient but also affordable.

The major players profiled in this report include:
Agromaster, Amazone Ltd., CNH Global N.V, Deere & Company, J.C. Bamford Excavators Limited (JCB), Bucher Industries AG, Mahindra & Mahindra Limited, Yamabiko Corporation, CLAAS KGaA mbH, Iseki & Co., Ltd, AGCO Corporation

The end users/applications and product categories analysis:
On the basis of product, this report displays the sales volume, revenue (Million USD), product price, market share and growth rate of each type, primarily split into-
Tractors
Harvesters
Planting Equipment
Irrigation & Crop Processing Equipment

On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate of Agricultural Machinery for each application, including-
Land Development & Seed Bed Preparation
Weed Cultivation
Harvesting & Threshing
Plant Protection

Applications that make use of agricultural machinery include soil cultivation, loading, irrigation, traction and power, planting, milking, hay making, fertilizing, harvesting and pest control among others. Agricultural machinery includes seeding and harvesting machinery, tractors and other hardware equipment such as mixers, windmills, wool presses and grinders among others. Farm tractors are expected to lead the product segment in this market over the next few years.

The rising demand of this market is propelled by increased investment in new agricultural machinery due to the low-interest-rate as well as a rise in research and development expenditure and economies of scale. Additionally, another major factor that is expected to fuel market growth in the rapidly increasing global population which has led to an increase in the demand for food and other similar products. Governments are also providing subsidies to farmers for investing in better equipment to efficiently meet the needs for higher productivity. Rising food demand globally is expected to have a positive impact on the market over the next seven years.

Regional Anlysis of Agriculture Machinery:

North America is expected to account for a significant market share, closely followed by Europe in the global agricultural machinery market, owing to the already existing extensively implemented mechanization systems in the region. Market segments of planting & fertilizing machinery and plowing & cultivation machinery are also expected to expand at a moderate pace.

Asia Pacific is expected to grow rapidly over the next eight years owing to the increase in population in countries such as India and China among others whose primary population depend on farming to earn their livelihood. Governments of these and other similar countries are focussing on various methods to increase food productivity to meet the needs of the growing population. In this region, the demand for harvesting machinery is most prominent.

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