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Agriculture Equipment Market

03-28-2022 10:40 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt Ltd

Agricultural equipment possesses a broad range of machinery and tools that are utilized in various processes of farming to enhance the output and enrich the complete crop quality. Traditional tools are now being switched with several new agricultural equipment, which mainly entails of crop processing equipment and drip irrigation equipment. Agriculture equipment's are a type of machines that assist with farming. They are the machines utilized in the countless stages of agriculture such as harvesting, planting, threshing and agro processing. Agriculture equipment are replacing traditional tools for traditional practice in land development, tillage and seed bed preparation plough and blade harrow but nowadays, the present practice comprises tractors, mould board plough and power tiller.

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Some of the perceptible trends that the market would perceive comprise increasing requirement for food owing to growing population, favourable government policies on agricultural machinery and augmenting the adoption of precision farming. The world population is augmenting at an alarming rate. The population is projected to be more affluent and urbanized, enjoying improved diets and living standards. An effective growth in need for food will spur the requirement for agricultural products, which would escalate the requirement for agricultural equipment such as tractors. In addition, tractor appeared as a leading product in the 'Agricultural Machinery Industry'.

The 'Agriculture Equipment Market' is divided into four foremost geographies such as Asia-Pacific, Europe, North America, and the rest of the world. Asia- Pacific control the largest market share among other regions owing to this region comprises high population countries like India and China which require the high production of food and cereals. Apart from, growth in government assistance and incentives on agriculture equipment, augmenting the sales of tractors, shortage of labor, and contract farming in India are growing the growth rate in this region.

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During the assessment duration, North America is also projected to develop at a substantial rate for their region comprising the growth of wine industries and growth in requirement for tractors from the US and Canada. Owing to the shortage of farm labour and the productivity is enhanced through mechanization, Europe is the other essential market for 'Agriculture Equipment Industry' trends.

The agriculture equipment benefits are obtaining a high crop yield in comparatively less time with least efforts. Apart, some equipment such as automatic and semiautomatic equipment decreases the necessity of manpower and hence the money experienced on them will be saved. Further, crop production augments by deducting the downtimes and allows highly precise functions. This augments the production of food which is helpful for the augmenting population. Some of the foremost drivers are developing the agricultural infrastructure in underdeveloped and developed regions, augmenting the production and sales of farm equipment.

The market is propelled by augmenting rates of mechanization in underdeveloped countries. The shrinking land, water resources, and labour force have augmented the requirement for farm mechanization in underdeveloped countries. Therefore, it is predicted that during the near years the market of agriculture equipment will augment more progressively over the review duration.

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Ken Research
Ankur Gupta, Head Marketing & Communications

Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

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