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Agriculture And Farm Equipment Or Machinery Market Outlook 2023: Expected Market Growth Rate, Major Driver And Segments | Deere & Company, AGCO Corporation, Mahindra & Mahindra Ltd., Kubota Corporation, CNH Industrial N.V
Agriculture And Farm Equipment Or Machinery Global Market Report
The Business Research Company's Agriculture And Farm Equipment Or Machinery Global Market Report 2023 identifies the rapidly growing population is driving the growth of the agriculture and farm equipment/machinery market going forward. Population growth refers to the increase in the number of people at a particular place during a given period. The mechanization of farms increases their productivity. The rising population will cause an increase in the demand for food, therefore to meet this increased food demand and feed the growing population increasing the mechanization of agriculture will become crucial thereby driving the agriculture and farm equipment/machinery market.
The global agriculture and farm equipment/machinery market size is expected to grow from $164.48 billion in 2022 to $172.88 billion in 2023 at a compound annual growth rate (CAGR) of 5.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The agriculture and farm equipment/machinery market size is expected to grow to $216.16 billion in 2027 at a CAGR of 5.74%.
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Major players in the agriculture and farm equipment/machinery market are Deere & Company, AGCO Corporation, Mahindra & Mahindra Ltd., Kubota Corporation, CNH Industrial N.V., Escorts Agri Machinery, AGROSTROJ Pelhrimov a.s., China National Machinery Industry Corporation, JCB, SDF Group, Agromaster, Iseki & Co. Ltd., Exel Industries, CLAAS and Bucher Industries AG.
A key trend in the Agriculture And Farm Equipment Or Machinery market includes the Technological advancement is a key trend in the Technological advancement is a key trend gaining popularity in the agriculture and farm equipment/machinery market. Major players operating in the market are developing advanced technologies such as the launch of the Unnati drone spray service for farmers that utilize drone technology and artificial intelligence (AI) for agriculture.
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The Agriculture And Farm Equipment Or Machinery market is segmented -
1) By Product Type: Tractors, Rotavators, Threshers And Dehuskers, Power Tillers, Power Weeder, Plough, Baler, Seed Drill
2) By Ownership: Individual, Rental
3) By Application: Land Development And Seed Bed Preparation, Sowing And Planting, Plant Protection, Harvesting And Threshing, Post-Harvest And Agro-Processing
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Agriculture And Farm Equipment Or Machinery market.
The Business Research Company's "Global Agriculture And Farm Equipment Or Machinery Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Agriculture And Farm Equipment Or Machinery Market Include:
1. Executive Summary
2. Agriculture And Farm Equipment Or Machinery Market Characteristics
3. Agriculture And Farm Equipment Or Machinery Market Trends And Strategies
4. Agriculture And Farm Equipment Or Machinery Market - Macro Economic Scenario
5. Agriculture And Farm Equipment Or Machinery Market Size And Growth
……
27. Agriculture And Farm Equipment Or Machinery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Agriculture And Farm Equipment Or Machinery Market
29. Agriculture And Farm Equipment Or Machinery Market Future Outlook and Potential Analysis
30. Appendix
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