Press release
Agriculture Equipment Market - Growing Trade Among Emerging Economies Opening New Opportunities
According to the report published by Allied Market Research, the global agriculture equipment market is expected to garner $243.5 billion by 2022, growing at a CAGR of 5.9% from 2016 to 2022. The report provides an extensive analysis of key investment pockets, changing market trends, market size & projections, and competitive landscape.
North America and Europe are likely to exhibit relatively slow growth in the future, owing to huge mechanization in the agriculture industry in the region.
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Based on the product, the agricultural tractors segment held nearly one-third of the total market share of the global agriculture equipment market in 2015, and is expected to maintain its dominant position throughout the forecast period. However, the harvesters segment is expected to grow at the highest CAGR of 6.9% from 2015 to 2022.
Key findings of Agriculture Equipment Market:
o The global agriculture equipment market is expected to exhibit a notable growth during the forecast period owing to the rising demand for food and increasing mechanization in agriculture.
o In the year 2015, tractors accounted for around 34% share in the overall agriculture equipment market revenue.
o The harvester segment is expected to be the fastest growing segment during the forecast period.
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Tractors are indispensable farm equipment, used for various activities, both as a standalone equipment and also with other implements. Harvesters is the second largest product category in terms of revenue generation. The market for harvesters is anticipated to grow with the highest CAGR of 6.9% during the forecast period.
Top Leading Key Players:
Leading market players analyzed in the research include Deere & Company, AGCO Corporation, Mahindra Group, Concern Tractor Plants, Agrostroj Pelhrimov A.s, China National Machinery Industry Corporation, Escorts Limited, Weifang Euroking Machinery, Valmont Industries Incorporated, and Same Deutz-Fahr Group (SDF).
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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