Agriculture Equipment Market Highlights
Agriculture equipment market is expected to reach around USD 172 Billion by 2027, growing at a CAGR of 6.2% over the assessment period.
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.
Key Players
The key players of Agriculture Equipment Market are 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) and others.
Market Research Analysis
The tractor is dominating the agriculture equipment market as it 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 agricultal practices in the region.
However the cost of materials for the manufacturers is high which can hamper the growth of the market.
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Scope of the Report
This study provides an overview of the 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
- Drip irrigation equipment
- Cultivation soil separation equipment
- Spray
- Land leveler
- Others
By Function
- Harvesting
- Planting fertilizing
- Haying
- Plowing cultivation
By Region
- North America
- Asia Pacific
- Europe
- Rest of the World
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Sales Channel
Continued…
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List Of Tables
Table 1 Global Agriculture Equipment Market, By Region, 2020–2027
Table 2 North America: Agriculture Equipment Market, By Country, 2020–2027
Table 3 Europe: Agriculture Equipment Market, By Country, 2020–2027
Table 4 Asia-Pacific: Agriculture Equipment Market, By Country, 2020–2027
Table 5 RoW: Agriculture Equipment Market, By Region, 2020–2027
Table 6 Global Agriculture Equipment Market, By Product Type, By Regions, 2020–2027
Table 7 North America: Agriculture Equipment Market, By Product Type, By Country, 2020–2027
Table 8 Europe: Agriculture Equipment Market, By Product Type, By Country, 2020–2027
Continued…
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