machinery, plowing and cultivation machinery, haying machinery and others which include parts, attachments, etc. Farm tractors are anticipated to account for the largest market share owing to the multi-purpose utilization of farm tractors. The farm tractors are very useful for agricultural as well as non-agricultural purpose; they are utilized as agricultural equipment and for other transport and commercial purposes.
Based on the applications, the agricultural equipment industry is segmented into land development & seed bed preparation, sowing & planting, weeds cultivation, plant protection, harvesting & threshing and post-harvest & agro processing. Land development & seed bed preparation is projected to acquire the highest market share in 2016. However, harvesting & threshing segment is anticipated to witness the fastest growth over the forecast period. The major reason behind the growth of this market is scarcity of labor, as people are opting for other jobs, instead of field work.
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Region Analysis:
Geographically, the agricultural equipment market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Among these regions, Europe is anticipated to dominate the market, in terms of revenue. However, Asia Pacific is expected to be the fastest growing market, owing to the rising demands of food supply due to increasing population and the climatic conditions are favorable for agriculture. Moreover, in several countries, government is providing enormous support to farmers to initiate modern farming techniques by helping them to purchase agricultural equipment’ s at less cost or by taking loans. For example, in India, the Rashtriya Krishi Vikas Yojana supports farmers for buying tractors and other equipment’ s at subsidized rates. In European and American countries, government is taking the initiative to educate farmers and provide assistances for using various agricultural techniques and equipment’ s to increase the efficiency and yield. All these factors are generating a huge demand for agricultural equipment’ s.
Major Points from Table of content:
• Executive Summary
• Research Methodology
• Market Dynamics
• Industry Overview
• Global Agriculture Equipment Market, By Product( 2017-2025)
• Global Agriculture Equipment Market, By Regions( 2017-2025)
• Market Competition Analysis
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