12-Feb-2020 | Zion Market Research
As per the analysts at Zion Market Research, the global agriculture equipment market projected to grow at around 8.7% CAGR during the forecast period 2019–2025. The prominent players active in the agriculture equipment market comprise AGCO, John Deere, CNH Industrial N.V., Mahindra & Mahindra, Kubota, and Iseki & Co., Ltd. Acquisitions and mergers are likely to be undertaken by the market participants as an effort to capture market share and increase their product portfolio. In Oct 2017, for example, AGCO Corporation declared the acquirement of Lely’s Hay and Forage unit. The unit comprises an array of products, like mowers, rakes, loader wagons, tedders, tillage products, and round balers. This procurement was targeted at AGCO Corporation increasing its prevailing array of hay and forage products.
Implementation Of Advanced Technologies To Boost The Growth Of Agriculture Equipment Market
Farmers are implementing modern technologies to surge the farm yield and fulfill the mounting food demand which is anticipated to be a major factor propelling the market growth. Now, traditional farming techniques like tillage, seeders, and plows are being substituted with a range of advanced agricultural machinery. Modern farming machinery like hay & forage equipment, spraying equipment, irrigation & crop processing equipment, and harvesters are being utilized in several processes to improve overall quality and output of the crop. The global agriculture equipment market is projected to observe noteworthy growth in the year to come on account of increasing integration of innovative methodologies in farm machinery.
Asia Pacific Expected To Capture The Maximum Share In The Agriculture Equipment Market
Based on product type, the agriculture equipment market is bifurcated into harvesters, tractors, irrigation & crop processing equipment, hay & forage equipment, spraying equipment, and others). Based on application, the agriculture equipment market is categorized into land development & seed bed preparation, weed cultivation, plant protection, harvesting & threshing, sowing & planting, and post-harvest & agro processing. Regionally, the global agriculture equipment market is divided into Asia Pacific, Latin America, the Middle East & Africa, Europe, and North America. Strong economic growth in emerging nations such as India, China, and Middle Eastern countries is expected to propel the farm machinery industry. The largest share of the market is anticipated to be captured by Asia Pacific owing to rapid growth. This expansion can be attributed to vast area of agricultural land and low level of mechanization. Nevertheless, mechanization of several agricultural processes is surfacing gradually in this region, which is projected to boost the agricultural equipment market over the forecast period.
This review is based on a report by Zion Market Research, titled “Global Agriculture Equipment Market By Product Type (Harvesters, Tractors, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, Others), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest & Agro Processing), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025” report at https://www.zionmarketresearch.com/report/agriculture-equipment-industry
The global agriculture equipment market is segmented as follows:
Row Crop Planters
Irrigation & Crop Processing Equipment
Hay & Forage Equipment
Sowing & Planting
Harvesting & Threshing
Post-harvest & Agro Processing
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