HOME Press Releases Agriculture Equipment Market worth 139.41 Billion USD by 2022



Agriculture Equipment Market worth 139.41 Billion USD by 2022


The report "Agriculture Equipment Market by Tractor (HP (<30,31-100, 101-200, >200), Drive Type (2WD, 4WD & Autonomous)), Combines (Corn, Rice, Wheat, Soybean), Implements (Harvest, Hay, Plant & Fertilizing, Plow & Cultivate, Spray) and Region - Global Forecast to 2022", Factors such as increasing demand for food and food products, rising mechanization trend in agriculture, shortage of skilled labor and increasing labor cost, government subsidies, and growing need for operational efficiency and profitability are the key drivers for the agriculture equipment market. The agriculture equipment market is projected to grow at a CAGR of 5.31% during the forecast period, to reach a market size of USD 139.41 Billion by 2022.

                                              Request Sample                               Request Sample

Browse 78 market data Tables and 61 Figures spread through 192 Pages and in-depth TOC on "Agriculture Equipment Market by Tractor (HP (<30,31-100, 101-200, >200), Drive Type (2WD, 4WD & Autonomous)), Combines (Corn, Rice, Wheat, Soybean), Implements (Harvest, Hay, Plant & Fertilizing, Plow & Cultivate, Spray) and Region - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/agriculture-equipment-market-164005174.html
Early buyers will receive 10% customization on reports.

31–100 hp farm tractor segment is estimated to hold the largest market share during the forecast period

China, India, and the U.S. are the top countries in terms of farm tractor sales. According to Agrievolution Tractors Market Report, 30–50 hp farm tractor accounted for ~80% of the global farm tractor market in 2015. Based on a publication by the Association of Equipment Manufacturers (AEM), the U.S. and Canada had approximately 56.3% market of <40 hp farm tractor in 2015. These numbers indicate that 31–100 hp segment is leading the global farm tractors market. Also, other factors such as lower cost as compared to high horsepower farm tractor and limited agricultural land per farmer would drive the market for small and medium range farm tractor in Asia-Oceania and North America.

“Combines market for rice crop is estimated to be the fastest growing market from 2017 to 2022

A combine or combine harvester is a machine comprising of several applications such as reaping, threshing, and sorting. Being one of the most essential crops, the demand for rice is expected to grow across the globe in the coming years. For instance, the Food and Agriculture Organization (FAO) of United Nations has anticipated an increase in rice production by 1.3% to 506 million tons in the year 2017–2018. Thus, the increased demand for rice crop is expected to drive the combines market for this crop in the coming years.

“Asia-Oceania: Largest and fastest growing market for agriculture equipment”

The Asia-Oceania region is projected to be the largest as well as the fastest growing market for agriculture equipment during the forecast period. China and India are the largest contributors in this region owing to factors such as growing population, rising farm mechanization, and large agricultural land. According to World Bank data, China and India had 54.8% and 60.4% of the total land used for agricultural purpose in 2014, respectively. Also, growing population leads to the higher demand for food, which can be accomplished by increasing the usage of agriculture equipment. Also, the farmers are slowly switching to invest in such machinery to improve the productivity. All such factors have contributed to the growth of the agriculture equipment market in Asia-Oceania.

The agriculture equipment market is dominated by a few globally established players such as Deere & Company (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), AGCO Corporation (U.S.), and Claas KGaA mbH (Germany).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

We will organize an analyst call and demonstrate the latent opportunities and threats which will likely impact your business, at no cost.

Speak to Analyst


* Name :
* Business Email :
* Phone :
* Designation :
* Country:
Report AT 2835: Agriculture Equipment Market by Tractor (HP (<30,31-100, 101-200, >200), Drive Type (2WD, 4WD & Autonomous)), Combines (Corn, Rice, Wheat, Soybean), Implements (Harvest, Hay, Plant & Fertilizing, Plow & Cultivate, Spray) and Region - Global Forecast to 2022
* Enter the text from the image
   to the textbox :
1 1 8 0 4  
Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports