Farm Equipment Market Observing Spectacular Growth Due to Technological Advances in the Agriculture Industry

Farm Equipment Market

Farm Equipment Market: Demand Analysis and Growth Forecast

As per the World Bank, growth in the agriculture sector is two to four times more effective in raising incomes amongst the poorest compared to the other sectors and to feed a projected 9.7 billion people by 2050. This is leading to rapid development with a lot of companies and governments investing in the Farm Machinery Market.  As per the findings of a newly published market research report by IndustryARC titled “Farm Equipment Market: By Type (Tractors, Fertilizing, Plant Protection Equipment, Harvesting Equipment, Irrigation Equipment, Hay and Forage Equipment, Crop processing Equipment, Seeding Equipment, Grain Handling Equipment, Cutters and Shredders, Sprayers ); By Phase (Land Development, Sowing, Planting, Cultivation, Harvesting, Threshing, Others); By Application (Agri Equipment, Construction Equipment, Chemical Applications, Financing Equipment, Material Handling Equipment, Snow Removal Equipment, Property Maintenance Equipment); By Geography – Forecast (2019-2025)”, the global market size was estimated to be $170 to $175 billion as of 2018, with a CAGR of approximately 6%. Equipment such as tractors, plow, and harrow is the few basic tools that are often carried out on fields for cultivating across the globe.

Farm Equipment Market: Leading Segment

APAC is leading the region in the global farm equipment market, at a share of 40% to 45% as of 2018 due to irrigation development in the region. Furthermore, the application CAGR in the farm equipment market will be nearly 10% during the forecast period of 2019-2025 as estimated by IndustryARC’s market analyst. As per India Brand Equity Foundation, in India, the Gross Value Added in the agriculture industry across the country was around INR 20,266 billion in 2017. The tractor market is also among the biggest segments in the category of farm equipment in the country, with annual sales of 600,000-700,000 units. However, there are major initiatives to elevate China’s agriculture industry. Moreover, there are an enormous number of farm equipment manufacturers in China which is aiding to the farm equipment market growth in the region

Farm Equipment Market: Market Trends

• China is a rapidly changing country with a quickly evolving farm equipment market following Agrievolution Summits strategies.
• In India, mission MITra is initiated to enable double-digit growth in the agriculture sector through scaling up developments and adopting innovations in ICT, advanced big data analytics, and biotechnology. Nowadays, farmers can rent or purchase machinery as per demand. They can leverage the tech-driven innovations such as Oxen using IoT, GPS enabled Tractors, Trringo, CropIn and many more.
• As per the Association of Equipment Manufacturers, in the next 25 years, the latest wave of technology will provide substantial improvements in farming practices. The environment will create opportunities for new players to enter the farm equipment market, and there will be shifts in positioning amongst the current players. The government has started investing in Ag Tech Investments such as biotechnology, Robotics, Mechanization, and IoT. 
• China has decided to boost mechanized farming and upgrade agriculture machinery. Now, this has significantly increased the farmer’s income and helped them to expand their domestic market. The farmers engaged in mechanized farming are being subsidized equally no matter the machinery purchased are Chinese or foreign brands. The innovation in the farm equipment market has doubled its efforts to develop complete sets of equipment and improve the quality of farming for major cash crops.

Farm Equipment Market: Competitive Landscape

Some of the key companies identified in the report that is currently holding majority global farm equipment market share are AGCO, John Deere, CLAAS, Mahindra and Mahindra, Lindsay Corp, Toro Corp, Jain Irrigation, Bucher Industries, CNH Industrial, Kvernerland Group, SDF Group, and Kubota.

View Full Table of Contents of Farm Equipment Market:

https://industryarc.com/Report/169/Global-Farm-Equipment-Market-Research-Report.html

Related Reports:

A.    Precision Farming and Tools Market
https://industryarc.com/Report/208/Precision-Farming-Market-Research-Analysis-Report.html

B.    Vertical Farming Market
https://industryarc.com/Report/15034/vertical-farming-market.html

What can you expect from the report?

The Farm Equipment Market is Prepared with the Main Agenda to Cover the following 20 points:

1. Farm Equipment Market Size by Product Categories & Application        

2. Farm Equipment Market trends & Relevant Market Data

3. Manufacturer Landscape                                                           

4. Distributor Landscape                                                                 

5. Pricing Analysis                                                                          

6. Top 10 End-user Analysis                                                      

7. Product Benchmarking                                                               

8. Product Developments                                                                

9. Mergers & Acquisition Analysis                                             

10. Patent Analysis

11. Farm Equipment Market Demand Analysis (Revenue & Volume)

12. Country-level Analysis

13. Competitor Analysis

14. Farm Equipment Market  Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Farm Equipment Market Strategic Analysis

18. Farm Equipment Market Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Farm Equipment Market Revenue and Volume Analysis

Frequently Asked Questions:

Q. Does IndustryARC publish country or application based reports in Farm Equipment market segment?

Answer: Yes, we do have a separate report as mentioned below:

    1. India Farm Equipment market
    2. South East Asia Farm Equipment market

Q. Does IndustryARC provide customized reports and charge additionally for limited customization?

Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:

1. Increase the level of data in the application or end-user industry.

2. Increase the number of countries in geography chapter.

3. Find out market shares for other smaller companies or companies which are of interest to you.

4. Company profiles can be requested based on your interest.

5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.

Any other custom requirements can be discussed with our team, drop an e-mail to [email protected]  to discuss more about our consulting services.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://industryarc.com/support.php?id=169

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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