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.
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.
Sample Copy of the report :https://www.blueweaveconsulting.com/global-agriculture-equipment-market-bwc20043/report-sample
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.
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.
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
Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off.