Press release
Global Agriculture Equipment Market Industry Trends, Estimation & Forecast, 2016 - 2024
Agriculture Equipment Market
Agriculture Equipment Market was valued at $171 billion in 2018 and is projected to reach $279.5 billion by 2025, growing at a CAGR of 6.5% from 2018 to 2025.
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Land development and seedbed preparation segment is anticipated to dominate the market and is forecasted to observe a growth rate of 1.8x over the forecast period, closely trailed by harvesting & threshing segment which has contributed around 17.6% market share of total agricultural equipment market in 2016 and is expected to foster over the forecast period owing to its capability of easing the crop harvesting procedure in less time. The advancement in tractors such as the introduction of multi-purpose tractors along with various applications of tractors in farming is anticipated to foster the growth of the tractor segment with the dominant market share during the forecast period.
The global agriculture equipment market was led by the Asia Pacific region, generating a revenue of $69 billion, the highest growth we Asia Pacific region having a CAGR of 8.4% over the forecast period. This is because of the increasing population in the region and boom of automated harvesting equipment in countries like India and China. The agriculture equipment market is flourishing in the region as a result of the increasing use of advanced farming equipment for more effective, reliable and time-saving production.
Competitive scenario of some of the key players of global agricultural equipment market which includes company profiling: Deere & Company, AGCO Corporation, CNH Industrial, SDF Group, Argo Tractors S.p.A., CLAAS KGaA mbH, The Toro Company, Kubota Corporation, Mahindra & Mahindra Ltd. and Escorts Ltd.
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