Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Powered Agriculture Equipment Market Research Repo | Page 2

On the basis of region, Asia Pacific accounted for the largest market share of 33.47% in 2016,
with a market value of USD 23.3 billion and is projected to grow at the highest CAGR of 6.26%
during the forecast period. The region comprises more than 60% of the world’s population and
is predicted to increase in the future, due to which the country is facing issues of food shortage.
This generated the need of increasing the food production. Use of agricultural equipment and
machinery has proven to be an effective way to increase food productivity. Additionally,
countries such as India, China, and Indonesia, majorly promote agricultural production in the
Asia Pacific region. In India, a large number of people are connected with the agriculture sector.
The major factor that favors the market is the amount of subsidies by the both central and state
governments, which encourage farmers to buy farm equipment.
North America was the second-largest market in 2016, valued at USD 20.2 Billion in 2016. North
America is the major producer of wheat, corn and soybean, which require the use of
agricultural equipment, thereby driving the growth of the market. US accounts for the largest
share in the North America market. There are presently more than 2.2 million farms in the U.S.,
covering an area of 922 million acres. Canada is also the major market for powered agriculture
equipment and is expected to grow at a CAGR of 5.00% during the forecast period. The
European market accounts for around 24.7% share in the global agriculture equipment market
in the year 2016. Germany and France are the major markets in Europe. Germany is one of the
leading exporting countries of agriculture machinery in the world and is ranked first when it
comes to agriculture equipment market in Western Europe. John Deere, and Fendt, are among
the leading agriculture tractor manufacturers and suppliers in Germany.
Hence, global powered agriculture equipment market is expected to reach a market size of
USD 99.89 billion by the end of the forecast period at CAGR of 5.43%.
The Key Players of Global Powered Agriculture Equipment Market Are:
AGCO Corporation (U.S.), John Deere & Co. (U.S.), Mahindra & Mahindra Ltd (India), CNH
Industrial (U.K), Kubota Corporation (Japan), CLAAS Group (Germany), Alamo Group Inc. (U.S.),
Escorts Group (India), Iseki & Co. Ltd (Japan), SDF S.P.A. (Italy), and other.
The report for Global Powered Agriculture Equipment Market of Market Research Future
comprises of extensive primary research along with the detailed analysis of qualitative as well
as quantitative aspects by various industry experts, key opinion leaders to gain the deeper
insight of the market and industry performance. The report gives the clear picture of current
market scenario which includes historical and projected market size in terms of value and
volume, technological advancement, macro economical and governing factors in the market.
The report provides details information and strategies of the top key players in the industry.
The report also gives a broad study of the different market segments and regions.