Press release
Agriculture Equipment Market is Expected to Grow at a CAGR of 5.5% by 2022
Agriculture Equipment Market
Market Highlights:
Agriculture equipment is the machinery used by farmers at various stages of agriculture such as planting, harvesting and agro processing. Traditional tools are now replaced by the agricultural equipment, such as crop processing equipment, drip irrigation equipment and others. The major driver for the growth of agriculture equipment market is the emergence of the concept of contract farming and increase in agricultural production targets. The rapid increase in population is generating the demand for food and thereby seeking even better agricultural equipment. Though farmers benefit from the use of agricultural equipment, the huge cost involved in the acquisition of such agriculture equipment is restraining the growth of this market.
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Key Players of Agriculture Equipment Market:
• AGCO Corp. (U.S.)
• JC Bamford Excavators Limited (U.K.)
• Deere & Company (U.S.)
• CNH Industrial N.V. (U.K.)
• Kubota Corporation (Japan)
• Iseki & Co., Ltd. (Japan)
• Daedong Industrial Co., Ltd. (U.S.)
• Mahindra & Mahindra Limited (India)
• Escorts Limited (India)
Market Research Analysis:
The tractor is dominating the agriculture equipment market and is known as the workhorse of agriculture. Tractors can perform many functions on agricultural land and are the most versatile equipment used in farming. When tractor technologies are combined with the GPS systems, they function as highly efficient and productive equipment which assist in performing major agricultural tasks. With the major concern of water conservation, drip irrigation equipment is also expected to grow significantly.
Asia-Pacific region is expected to dominate the Agriculture equipment market with the highest CAGR. The low rate of mechanization in the agriculture sector in developing nations such as India and China is expected to reveal huge opportunities for adopting mechanized farming practices in the region. This would, in turn lead the agricultural equipment market in the Asia-pacific region. North America and Europe are forecast to witness slow growth, owing to the existence of highly mechanized agricultural practices in the region.
However the cost of materials for the manufacturers is high which can hamper the growth of the market.
Global Agriculture equipment market Share by Function (%)
Scope of the Report:
This study provides an overview of the Global Agriculture Equipment Market, tracking two market segments across four geographic regions. The report has studies of the key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Agriculture Equipment Market by its product type, function and region.
By Product type
• Tractors
• Harvesters
• Cultivation & soil separation equipment
• Others
By Function
• Harvesting
• Planting & fertilizing
• Haying
• Plowing & cultivation
By Region
• North America
• Asia Pacific
• Europe
• Rest of the World
Brief TOC:
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Agriculture equipment market, By Product Types
4.1 Tractors
4.2 Harvesters
4.3 Cultivation & soil separation equipment
4.4 Others
5 Global Agriculture equipment market, By Functions
5.1 Introduction
5.2 Harvesting
5.3 Planting & fertilizing
5.4 Haying
5.5 Plowing & cultivation
5.6 Others
Continue…
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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