Farm Equipment Market Research Report
The GMI Research expects the farm equipment market to expand
at a significant rate. From a regional perspective, the Asia-Pacific is
expected to increase at a higher CAGR due to the large area of agricultural
land in various countries, such as Malaysia, China, India, Indonesia, and
Japan. The increasing horticulture sector and precision agriculture are further
driving the market growth.
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Farm
Equipment Market Dynamics (including market size, share, trends, forecast,
growth, forecast, and industry analysis)
Key
Drivers
The global farm equipment market size is predicted to
witness an upsurge in demand during the forecast period due to the growing
population, and the rising demand for food worldwide has led to the high
adoption of advanced and efficient methods of agricultural production.
Moreover, several advanced agriculture equipments like harvesters, hay and
forage equipment, spraying equipment, irrigation, and crop processing equipment
aids in the efficient farming process, decreasing labor cost and improving crop
quality, which will further pay the way for the growth of the farm
equipment market share in terms of revenue.
The growing government support in the form of low-rate
subsidies, loans, and other credits to promote farm mechanization and to surge
farm yield which is further propelling the growth of the market. For example,
financial credit and loans offered by the U.S. Department of Agriculture to
purchase land, the Farm Service Agency (FSA), equipment, livestock, seed,
supplies, and feed is fuelling the market growth. According to the farm equipment
market statistics, the development of technologically advanced agricultural
equipment like autonomous tractors, integration of new technologies that
include GPS, Google Earth, drones, telematics, ground-based sensors, and
robotic systems into present equipment to enhance productivity is expected to
bring various new opportunities in the market. On the other hand, the increased
cost of equipment and limited awareness associated with the benefits of using
agriculture equipment among farmers in developing countries, including India,
Bangladesh, Indonesia, Saudi Arabia, and South Korea, will hinder the growth of
the farm equipment market.
Farm
Equipment Market’s leading Manufacturers:
·
CNH Industrial N.V.
·
Deere & Company
·
Kubota Corporation
·
AGCO Corporation
·
Mahindra & Mahindra Ltd.
·
CLAAS KGaA mbH
·
ISEKI & Co., Ltd.
·
SDF Group
·
YANMAR HOLDINGS Co., Ltd.
·
China National Machinery Industry Corporation
Farm
Equipment Market Segmentation:
Segmentation
by Product:
·
Tractors
·
Harvesters
·
Planting Equipment
·
Irrigation & Crop Processing Equipment
·
Spraying Equipment
·
Hay & Forage Equipment
·
Others
Segmentation
by Application:
·
Land Development & Seed Bed Preparation
·
Sowing & Planting
·
Weed Cultivation
·
Plant Protection
·
Harvesting & Threshing
·
Post-harvest & Agro Processing
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
About GMI Research
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