Pre-Harvest Market GlobalTrends & Forecasts To 2018
Global pre-harvest agriculture equipment market has grown exponentially in the last decade and this growth is expected to continue at CAGR of 5.7% till 2018 and reach the revenue of $55,696.6 MN. Farm operations are performed on the time and better the quality of agricultural commodities is produced by the use of machinery. This reduces the workload and also results in the change in the characteristics of agricultural practices.
Factors like growth in population leading to increase in the demand for food increase the net farm income due to farm mechanization and government subsidies. Leading companies are focusing on launching of new products for expansion of the business in local as well as foreign markets. Investments and acquisitions are other preferred growth strategies.
In the report, Pre-harvest equipment are classified as seed drills, planters, air seeders, and others. Seed drill market is growing at a CAGR of 6.4% resulting in projected revenue of $5,228.4 by 2018. Planters, transplanters and air seeders are also expected to have healthy market with 6.1%, 6.2% and 5.8% CAGR respectively.
Asia-Pacific and Europe are the leading consumers of pre-harvest agricultural equipment - together accounting for more than 60% of the consumption on a global scale. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in countries such as China, India, Japan, Turkey, and Thailand. The pre-harvest agricultural equipment market consists mainly of the equipment such as Primary Tillage Equipment, Secondary Tillage Equipment, Irrigation Equipment, Plant protection & Fertilizing Equipment and Planting equipment. The Planting Equipment accounts for 30% of the total market.
India and China lead the pre-harvest agricultural equipment markets due to lower level of farm mechanization and existence of inefficient farm equipment.
Though farming sector is thought to be recession proof, but the agriculture machinery industry was impacted by 2007-2009 recession, though moderately. However, by the year 2010, most regions gained their market positions and were able to record exemplary gains due to increase in the commodity prices globally and assenting government policies.
To know the exact Pre-harvest agriculture market statistics and forecasts visit: Pre-Harvest Market: By Types(Primary Tillage Equipments, Secondary Tillage Equipments, Planting Equipments, Irrigation Equipments, Plant Protection and Fertilizing Equipments, Others), By Geography: Trends & Forecasts To 2018
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