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Agriculture Equipment Market Growth & Revenue Analysis by Regional Players: Escorts Group, Kverneland Group, AGCO Corporation, Kubota Tractor Corporation, JCB, CNH Industrial

11-29-2019 01:21 PM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights Inc.

Agriculture Equipment Market

Agriculture Equipment Market

North America Agriculture equipment market is expected to witness a high growth over the coming years owing to the rise in the adoption of automated machines for performing farming activities. Countries including the U.S. and Canada have a strong presence of players, which are engaged in developing effective machinery for enhancing the productivity of the farm processes.

Companies are offering products with enhanced quality, features and technological innovations to strengthen their customer base in the North America agriculture equipment market. Increasing urbanization in the region and high productivity demands from the farming sectors are driving the industrial growth.

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Agriculture Equipment Market is expected to exceed USD 200 billion by 2024. The integration of smart technologies and adoption of IoT technologies into several industrial sectors is growing rapidly, thereby encouraging manufacturers to provide connected solutions to their customers. These technologies provide remote monitoring and control of the several farming processes, allowing the farmers to improve the efficiency and productivity.

The increasing need for effective solutions to improve the performance, speed, and efficiency in performing farming operations is driving the agriculture equipment market growth. Precision farming techniques are developed by the players to provide such enhanced features to the farmers. These techniques include a high-precision positioning system, automated steering system, geomapping, and Variable Rate Technology (VRT).

Increasing labor costs in several countries are expected to generate a high demand for automated machinery, thereby driving the agriculture equipment market. Countries including the U.S., Canada, the UK, and Germany are experiencing a high demand for the machines owing to the lesser availability of workforce.

Agriculture Equipment Market, By Product:
1. Farm tractor
2. Harvesting machinery
3. Plowing & cultivation machinery
4. Planting & fertilizing machinery
5. Haying machinery
6. Others

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Emerging technologies including sensors, drones, and unmanned vehicles are expected to revolutionize the agriculture equipment market over the coming years. Several advantages of these smart solutions include increased production, accurate farm and field evaluation, and reduced environmental footprint.

Growing adoption of tractors for farming processes, such as plowing and harrowing, is driving the agriculture equipment market. This equipment provides several advantages in performing farming operations such as pulling heavy loads, withstanding harsh conditions, and increasing productivity and efficiency. Manufacturers are integrating effective technologies in these machines to enhance its performance and applications.

Major companies operating in the agriculture equipment market include:

1. Escorts Group
2. Kverneland Group
3. CNH Industrial N.V
4. Iseki & Co. Ltd.
5. Kuhn Group
6. Yanmar Company Limited
7. Deere and Company
8. AGCO Corp.
9. ARGO SpA
10. Alamo Group Incorporated
11. Claas KGaA mbH
12. Bucher Industries AG
13. JCB Limited
14. Kubota Tractor Corp
15. Mahindra & Mahindra Ltd.
16. Tractors and Farm Equipment Ltd.

The companies are targeting their offerings in the regions where a high demand for agricultural activities is being witnessed. They are integrating several technologies with their products to cater to the varying demands of the agriculture equipment market.

Related News: https://www.globenewswire.com/news-release/2018/08/30/1563162/0/en/Agriculture-Equipment-Market-size-to-cross-200bn-by-2024-Global-Market-Insights-Inc.html

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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