Latest Research Report on Agriculture
Equipment Market begins with an extensive
presentation and then investigates broad into specific segments such as raw
material, application, end user, and region, policy study, value chain
structure, and upcoming trends in particular segments or regions. The report on
Agriculture Equipment prepare a case for investments in different regions based
on a practical view of their regulatory outline, manufacturing dynamics, and
availability of skills and resources in that region.
Global Agriculture
Equipment Market is expected to reach USD 243.4 billion by 2025. A mechanical machine
designed for advanced farming purpose is known as an agriculture equipment. The
agriculture equipment is useful for irrigation, planting, harvesting and so on.
There are a wide range of equipment available right from hand tools and power
tools to tractors. Agriculture equipment has several advantages such as
enhanced uniformity and quality of the process, accuracy, substitute for labor,
operation requires less time as compared to the conventional methods, and so
on. The Agriculture Equipment Market is estimated to grow at a CAGR exceeding
7% over the forecast period as the scope and its applications are rising
enormously across the globe.
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Increasing population at
faster pace, rising demand from developing countries like those that India and
China with high population base, and developing enhanced agricultural
equipment’s are documented as major factors of Insurance Analytics Market that
are estimated to enhance the growth in the years to come. However, high cost of
machinery and financial problems to replace the old machinery are the factors
that may restrain overall market growth in the coming years. Agriculture
Equipment Market is segmented based on product type, process, application, and
region.
Fertilizing & Pest
Control, Harvesting/Post-Harvest, Hay Making, Irrigation, Planting, Produce
Sorter, Loading, Tractor and Power, Soil Cultivation, and another product type
could be explored in Agriculture Equipment in the forecast period. The process
may include harvesting & threshing, land development, tillage, seed-bed
preparation, post-harvest & agro-processing, plant protection, sowing &
planting, weed inter-cultivation, and others that could be explored in
Agriculture Equipment in the forecast period. The market may be categorized
based o applications like wheat, corn, soybean, rice, and others that could be
explored in the forecast period.
Globally, Asia Pacific
accounted for the substantial market share of Agriculture Equipment and is
estimated to lead the overall market in the coming years. The reason behind the
overall market growth could be high demand for food in India and China due to
rising population, falling crop values, and rising use of enhanced technology.
In India, National Agricultural Development Program (NADP) offers subsidies
ranging from 30%–50% on the purchase of agriculture equipment like tillers,
farm tractors, threshers, sprayers, and paddy transplanters.
India with its favorable
rich natural resource base and agro-climatic surroundings has converted to the
world's biggest manufacturer across a variety of goods. Instead, Europe and
North America are also estimated to have a positive influence on the future
growth. Europe is the second largest region with significant market share.
However, North America is estimated to grow at fastest pace with the highest
CAGR in the foremost period.
The key players of
Agriculture Equipment Market are AGCO, AgriArgo, CNH, China Northern,
Challenger, Dongfeng, Double L, Farmers Equipment, Grimme, John Deere, JL Farm
Equipment, Great Plains, JCB, Kverneland, Kinze, Kubota, Menoble, Modern
Agriculture, Nonghaha, New Holland, Monosem, Oxbo, Rabe, Same Deutz-Fahr,
Shifeng, Ten Square, Top Air, YTO, Woer, and ZhongJi Southern. These players
are concentrating on inorganic growth to sustain themselves amongst fierce
competition. As companies all over the world have to believe that alliance with
a market would permit them proportional market existence and authority to
declare the leadership position.
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