Farm Equipment - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Farm Equipment market is accounted for $179.25 billion in 2017 and is expected to reach $321.32 billion by 2026 growing at a CAGR of 6.7% during the forecast period. Population growth has escalated the demand for food and growing mechanization trend in agriculture industry are some of the key factors fueling the market growth. However, factors such as increasing subsidies provided by government to purchase farm equipment and support farming practices for improved quality crops inhibit the market growth. One of the major opportunities in the market is rising implementation of technology-driven agriculture equipment.
Farm equipment are mechanical devices such as tractors and several attached implements, which are intended to be utilized in diverse farming operations in order to save time and labor. It is also known as Agricultural Equipment which involves all machineries which assist in the production of crops and agricultural livestock. These are easy to use and aid in diverse agricultural operation such as cultivation, spraying of fertilizers, insecticide, pesticides, herbicides, harvesting of crop and livestock farming. The agricultural sector is changing its practices from traditional farming to modern farming and this equipment are essential tools that enhance yield and improve the maintenance of soil and have easy approach in farming.
Based on the type, Trailers and Trucks segment usage in agriculture has been increasing rapidly because it varies greatly in size, power, and configuration. Farmers prefer these kinds of vehicles to easy their work while harvesting the crops on shifting the grains obtained from the one place to another mainly on budget. Gooseneck mounts are often used for agricultural and industrial trailers. Tractors are most commonly used in agriculture and provide the power and traction to mechanize agricultural tasks, especially tillage.
By Geography, Asia Pacific is expected to hold largest market share due to increasing demand for quality food grains, fruits and vegetables. Major players have been focusing on high growth markets such as India and China, to reap the benefits from increasing mechanization.
Some of the key players in Farm equipment market are AGCO Corporation, CLAAS Group, CNH Industrial N.V., John Deere & Co., Kubota Corporation., SAME Deutz-Fahr Group S.p.A., Kuhn Group S.A., Kverneland A.S., Mascar S.p.A., MaterMacc S.p.A., Alamo Group Inc., Argo S. p. A, Amazone H. Dreyer GmbH & Co. KG, Bucher Industries, Daedong Industrial Company Ltd., Escorts Group, Mahindra & Mahindra Limited, Eicher Tractors, SAS motors Limited (Angad Tractors) and PreetTractors.
• Harvesting and Threshing
• Land Development
• Post Harvesting
• Sowing and Planting
• Other Phases
• Trailers and Trucks
• Tillage Equipment
• Planting Equipment
• Irrigation Equipment
• Harvesting Equipment
• Hay and Forage Equipment
• Crop Processing Equipment
• Plant Protection Equipment
• Sprinkler Irrigation Equipment
• Other Types
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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