According to a new research
published by Polaris Market Research the global agriculture and farm
equipment market is anticipated to reach over
USD 272.1 billion by 2026. In 2017, the farm tractors segment dominated the
global market, in terms of revenue. Asia-Pacific is expected to be the leading
contributor to the global market revenue during the forecast period.
There has been an increasing
adoption of Agriculture and Farm Equipment across the world owing to growing
agricultural industry, and high-demand for food crops. The growing population,
and increasing mechanization of farm operations further supports market growth.
The global Agriculture and Farm Equipment market is driven by the increasing
need to improve the quality of crops produced, maximizing crop production, and
enhanced productivity. Other factors driving the growth of this market include
growth in the global agricultural industry, reducing availability of labors,
and increasing labor costs. Integration of technologies such as automation and
robotics along with support and subsidies from governments further supplement
the growth of this market. However, high initial investment restricts the
growth of the agriculture and farm equipment market. Growing demand from
emerging economies, and technological advancements are factors expected to
provide numerous growth opportunities in the coming years.
Get Sample Copy : https://www.polarismarketresearch.com/industry-analysis/agriculture-and-farm-equipment-market/request-for-sample
Asia-Pacific generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The increasing population, and growing demand
for high quality crops drives the growth of this market. Increasing cost of
labor, and growing automation in agricultural practices further support market
growth. Increasing investments and subsidies in the agriculture sector by
governments are expected to boost the Agriculture and Farm Equipment market
growth during the forecast period in the region. Increasing need to improve
food quality and productivity along with increased industrialization of farming
equipment further supplements market growth.
Various product types of agriculture
and farm equipment include planting and fertilizing equipment, farm tractors,
irrigation equipment, haying equipment, harvesting equipment, plowing
equipment, and others. In 2017, farm tractors accounted for the largest share
in the global market. Farm tractors form an important part of farm operations
such as pulling or pushing agricultural machinery, plowing, tilling, disking,
harrowing, and planting among others.
Get Discount Offer : https://www.polarismarketresearch.com/industry-analysis/agriculture-and-farm-equipment-market/request-for-discount-pricing
The well-known companies profiled in
the report include Agrocenter Ltd., CNH Industrial N.V., Amazone Ltd., Horsch
Maschinen GmbH, John Deere, Kubota Corporation, Mahindra & Mahindra
Limited., Morris Industries Ltd., AGCO Corporation, Agromaster, CLAAS KGaA mbH,
and Escorts Group among others. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
