Global Agriculture Equipment Market is estimated to reach $266 billion by 2024; growing at a CAGR of 5.6% from 2016 to 2024. Agriculture equipment are used to make the cultivation and production process faster and efficient. It increases land productivity and also offer quick harvesting. Major agriculture equipment such as tractors, harvesters, irrigation equipment, agriculture spraying equipment, and cultivation equipment among others have gained wide popularity globally. Rapidly growing population has increased the demand for food resulting in adoption of technologically advanced agriculture equipment to increase land productivity. Various support schemes such as, National Horticulture Mission and National Food Security Mission provided by the government and Department of Agriculture and Cooperation also drive the agriculture equipment market.
Economic stability, rise in population, and adoption of advanced farming technique are the major factors driving the global agriculture equipment market. However, lack of proper knowledge about effective agricultural equipment among farmers may act as a restraint for the market. Several schemes provided by the government in order to increase agricultural productivity would provide several growth opportunities for the market in the coming years.
The global agriculture equipment market has been segmented on the basis of product type and geography. By product type, the market is further segmented into harvesters, tractors, soil preparation & cultivation equipment, irrigation & crop processing equipment, hay and forage equipment, agriculture spraying equipment, and others.
Based on geography, the global agriculture equipment market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the agriculture equipment market are Mahindra Group, AGCO Corporation, Concern Tractor Plants, Escorts Limited, Valmont Industries Incorporated., Weifang Euroking Machinery, Deere & Company, Agrostroj Pelhrimov a.s, Same Deutz-Fahr Group, and China National Machinery Industry Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of Agriculture Equipment Market with respect to major segments such as product type, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the global Agriculture Equipment Market
- An exhaustive regional analysis of Agriculture Equipment Market from 2015 to 2024 will be included in the report
- Profile of the key players in the Agriculture Equipment Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Agriculture Equipment Market
Product Type Segments
- Soil preparation & cultivation equipment
- Irrigation & crop processing equipment
- Hay and forage equipment
- Agriculture spraying equipment
- North America
- South America
- Middle East
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