Agriculture Equipment Market Explores New Growth Opportunities By 2022- Allied Market Research

Posted on Updated on

Agriculture Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $243.5 billion by 2022, registering a CAGR of 5.9% during the period 2016-2022.

Factors that foster the growth of the market are increased mechanization of agricultural activities, economic stability, and increasing demand for food owing to the growing population, particularly in the developing regions. In the year 2015, Asia-Pacific generated the highest revenue, accounting for around 40% share in the overall agriculture equipment market, followed by North America and Europe.

tractor-1748636_640                                                   Request For Sample

Do Enquiry For Sample Report @ https://www.alliedmarketresearch.com/request-free-sample/1509

Agriculture tractors, harvesters, soil preparation and cultivation equipment, irrigation & crop processing equipment, agriculture spraying equipment, hay and forage equipment are the major agriculture equipment considered in the study. Tractors constituted nearly one-third of the overall agriculture equipment market revenue in 2015, and are likely to remain the highest revenue contributors throughout the analysis period.

Do Enquiry Before Purchasing Report @ https://www.alliedmarketresearch.com/purchase-enquiry/1509

Tractors are indispensable farm equipment, used for various activities, both as a standalone equipment and also with other implements. Harvesters is the second largest product category in terms of revenue generation. The market for harvesters is anticipated to grow with the highest CAGR of 6.9% during the forecast period.

Key findings of Agriculture Equipment Market:

  • The global agriculture equipment market is expected to exhibit a notable growth during the forecast period owing to the rising demand for food and increasing mechanization in agriculture.
  • In the year 2015, tractors accounted for around 34% share in the overall agriculture equipment market revenue.
  • The harvester segment is expected to be the fastest growing segment during the forecast period.
  • Asia-Pacific is estimated to witness significant growth, growing at a CAGR of 7.6% from 2016 to 2022.
  • China is likely to register a higher growth with a CAGR of 8.5% over the analysis period.

KEY PLAYERS:

  • Deere & Company
  • Mahindra Group
  • AGCO Corporation
  • Agrostroj Pelhrimov A.s
  • Concern Tractor Plants
  • Escorts Limited
  • China National Machinery Industry Corporation
  • Valmont Industries Incorporated.
  • Weifang Euroking Machinery
  • Same Deutz-Fahr Group (SDF)
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s