Global Agriculture and Farm Equipment Market Estimated To Reach $272.1 Billion in 2026 : Polaris Market Research

The Global Agriculture and Farm Machinery/Equipment Market expected to be USD 272.1 billion by 2026 with CAGR of more than 8.8% during the forecast period

BROOKLYN, NY, UNITED STATES, February 5, 2018 /EINPresswire.com/ -- According to a study published by Polaris Market Research, Global Agriculture and Farm Equipment Market estimated to be USD 132.7 billion in 2017 and is anticipated to grow at a CAGR of more than 8.8% during the forecast period.

Agriculture and farm machinery/equipment includes farm tractors, irrigation equipment, planting and fertilizing equipment, haying equipment, plowing equipment, and harvesting equipment among others. Use of farming equipment modernizes agricultural practices while saving labor costs, maximize productivity, and increasing, and profitability. Agriculture and farm equipment are used for diverse operations such as handling of residues from previous crops, fertilizer distribution and application, primary and secondary tillage of the soil, pest control, seeding, planting, harvesting, storage of crops, and irrigation among others. Use of farm equipment assists farmers to enhance crop yield while reducing environment pollution.

The demand for agriculture and farm equipment has increased over the years owing to growing need for high quality crops, improved yields, and enhanced decision making. The increasing global population and rising demand for food crops have resulted in increased adoption of farming equipment. Farmers are adopting farming equipment owing to growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. Government initiatives and integration of technologies such as precision farming further support the growth of the market.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Agriculture and Farming Equipment Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Asia-Pacific generated the highest revenue in 2017 owing to increasing population, and growing demand for high quality crops. Modernization of farm equipment along with growing demand for high quality food products have resulted in increasing adoption of agriculture and farming equipment in the region. Increasing initiatives and investments by governments in the region to support agricultural growth support the adoption of agriculture and farming equipment.

Competitive Landscape and Key Vendors

The global agriculture and farming equipment market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

The leading 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.

Key Segments

Chapter - 1. Product

1.1 Planting and Fertilizing Equipment
1.2 Farm Tractors
1.3 Irrigation Equipment
1.4 Haying Equipment
1.5 Harvesting Equipment
1.6 Plowing Equipment
1.7 Others

Chapter - 2. Region

2.1 North America

2.1.1 U.S.
2.1.2 Canada
2.1.3 Mexico
2.1.4 Europe
2.1.5 Germany
2.1.6 UK
2.1.7 France
2.1.8 Italy
2.1.9 Russia
2.1.10 Rest of Europe

2.2 Asia-Pacific

2.2.1 China
2.2.2 India
2.2.3 Japan
2.2.4 Australia
2.2.5 Rest of Asia-Pacific

2.3 Latin America

2.3.1 Brazil
2.3.2 Rest of Latin America

2.4 Middle East and Africa

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Neel
Polaris Market Research & Consulting
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