Global Agriculture Equipment Market Bwc20043
Global Agriculture Equipment Market, By Product Type (Agriculture tractors, Harvesters, Soil preparation & cultivation equipment, Irrigation & crop processing equipment, Agriculture spraying equipment, Hay & forage equipment, Other agriculture equipment), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: April 2020
- Report ID: BWC20043
- Available Format: PDF
- Page: 0
Report Overview
Global Agriculture Equipment Market Forecast and Trends
Agriculture
equipment is used for backing in agriculture activities. Major factors that
drive the growth of the agriculture equipment market are the growing acceptance
of technology-driven agriculture tools and rising requests for food due to the
mounting population. Projecting companies in the market have accepted product
promotion and attainment as their key growth approaches to sustain the
authoritative market rivalry. In the year 2015, AGCO Corporations transverse
rotary combine brand, Gleaner, launched the Gleaner S9 Series Combines. With this
launch, the company aims to supply its consumers with efficient and
technology-driven means of gaining their crops. Global market players are
uninterruptedly throwing new and innovative products to tolerate their market
position and offer technologically advanced equipment. The rising population
has better quality the request for agricultural products, which has furthered
the request for agricultural equipment about the sphere. Moreover, the praise
to adopt progressive agricultural equipment by the government authorities is
expected to foster the expansion of the global agricultural equipment market,
which can be attributed to growing agricultural and farming activities on the
back of the growing population around the globe.
Global
Agricultural Equipment Market: Overview
The
integration of advanced technology in agriculture equipment has provided growth
prospects for the industry. Cultured technologies such as GPS and robotics are
improving equipment efficiency mostly. The technology enables remote handling
of the equipment, increasing the accuracy of farming. Sensors help in providing
exact data about the soil conditions and weather, helping farmers to improve
the yield. AI-based equipment has also increased approval in recent years. John
Deere, a company known for its green tractors, focuses on implementing machine education
and AI into machinery to improve functionality. The arrival of digitalization
and connected technology is further propelling the agriculture equipment
market. The incorporation of robotics in agriculture is also serving farmers in
improving productivity. The integration of IoT with machinery is
revolutionizing the agriculture sector. Remote equipment that can be measured
from wireless devices and smartphones are reducing travel time and connected
costs.
Growth drivers
Exponential increase in population
An
exponential surge in people in the Asia Pacific region united with the
occurrence of fast-growing economies in the region is pouring the demand for
agricultural products. The agricultural sector in the region is adopting
equipment to increase output, improve product quality, and recover supply chain
clearness.
Governmental
support pertaining to the use of agricultural equipment in various
regions fuels the Agricultural Equipment’s Market
Many
government establishments are taking initiatives to teach farmers about the welfares
of using agricultural equipment in agriculture. Companies are also getting out
to farmers to train them about loan strategies, credit financing, and aids of bond
farming – and this is expected to initiate the request for agricultural
equipment, essentially tractors. In European and American countries, administrations
are taking the needed steps to teach farmers and monitor them about the welfares
of using agricultural equipment.
Shifting from manual operations to
automated methods
Factors
such as government enterprises, increasing urbanization rate and streamlined
possessions are shifting the concentration of farmers to mechanization and
refining their savings power. Teaching programs directed by the government for
technicians, farmers, and machinery consumers is additional significant feature
that is predictable to extra propel the demand for tractors over the forecast
period.
Global Agricultural Equipment Market: Type
Based
on type, the global agricultural market segmented into Agriculture tractors,
Harvesters, Soil preparation & cultivation equipment, Irrigation & crop
processing equipment, Agriculture spraying equipment, Hay & forage
equipment, other agriculture.
Global Agricultural Equipment Market: Regional
Insights
Based on the area the Global Agricultural Equipment
Market is segmented into North America
(United States, Canada), NORDIC [Norway, Denmark, Sweden, Finland], Poland,
Russia, Rest of Europe),Europe (U.K., Germany, France, Italy, Spain, Hungary,
BENELUX [Belgium, Netherlands, Luxembourg], Latin America (Brazil, Mexico,
Argentina, Rest of LATAM), Middle East and Africa (Israel, GCC [Saudi Arabia,
UAE, Bahrain, Kuwait, Qatar, Oman],Asia-Pacific (China, India, Japan, South
Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of
Asia-Pacific), , North Africa, South Africa, Rest of Middle East and Africa).
The tractors section is the main income funder in the market,
whereas the harvester segment is predictable to witness considerable development
during the forecast period. Farmers are choosing technically progressive harvesters
to surge creation and to bound the habit on farm labors. Soil preparation and
farming equipment are also expectable to viewer prominent growth, compelled by
the government initiatives to increase farm making and to make the soil
grounding and cultivating process faster and effective.
Competitive
Landscape
The leading companies of Global Agricultural Equipment’s Market are Deere & Company, AGCO Corporation, CNH Industrial N.V., Agro Tractors S.p.A., SDF Group, The Toro Company, Kubota Corporation, CLAAS KGaA mbH, Mahindra & Mahindra Ltd. and Escorts Ltd and other prominent players.
Recent Development
Ø AGCO
Corporation launched two new Massey Ferguson tractors which expanded the MF
5700 Global Series product offerings of the company.
Ø Deere & Company spent around USD 1,368 Million on research & development activities during 2017
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast –
2020 – 2026 |
Facts Covered |
Revenue in USD Million |
Market Coverage |
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China,
India, UAE, South Africa, Saudi Arabia |
Product/Service Segmentation |
By Type, By Region |
Key Players |
Deere & Company, AGCO
Corporation, CNH Industrial N.V., Agro Tractors S.p.A., SDF Group, The Toro
Company, Kubota Corporation, CLAAS KGaA mbH, Mahindra & Mahindra Ltd. and
Escorts Ltd. |
Market Segmentation
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