ROCKVILLE, Md., Feb. 10, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the agriculture equipment market has garnered a market value of US$ 160.16 Bn in 2022, anticipated to register a positive CAGR of 4% in the forecast period 2022-2032 and reach a value of US$ 237.08 Bn.
“Government schemes supporting agricultural activities in the emerging economies are projected to drive the market through 2032”, says a Fact.MR analyst.
The global agriculture equipment sector is predicted to rise as the mechanisation of various farming processes such as ploughing, harrowing, planting, harvesting, and tilling. Increasing mechanization in the agriculture sector coupled with the surge in farmers’ income is expected to be a primary factor driving the growth.
With such a drastic COVID-19 impact, the agriculture machinery industry requested some flexibility for machines to be fitted with transition engines already manufactured and procured before the crisis.
For Critical Insights on This Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=7120
Competitive Landscape
Some prominent manufacturers of agriculture equipment are:
AGCO Corporation, Agrocenter Ltd., Agromaster, AMAZONE Ltd., AMAZONE Ltd., APV– Technische Produkte GmbH, CLAAS KGaA mbH, CNH Industrial N.V, Escorts Group, Horsch Maschinen GmbH, and ISEKI & Co., Ltd. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In May 2021, CLAAS KGaAmbH acquired a minority stake in Dutch start-up AgXeed B.V. The acquisition was intended for the development and commercialization of autonomous agriculture machines.
- In August 2021, John Deere introduced the new 6155MH Tractor, which delivers reliability and all the field-proven performance like the M series, envisaging the company to attract a new customer base.
To learn more about Agriculture Equipment Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7120
Demand Analysis of Agriculture Equipment
According to Fact.MR, the US was valued at US$ 35.1 Bn in 2021 and is expected to register a CAGR of over 5% during the forecast period. Growth is primarily driven by the abundance of large farmland, which has led to high demand for farm mechanization.
The Middle East and Africa region was valued at US$ 10.1 Bn in 2021 and is expected to record a CAGR of 2% over the forecast period. South Africa, Saudi Arabia, and UAE are notable markets in the region. The arid and semiarid countries in the Middle East with low and variable rainfall are likely to witness increased demand for irrigated and crop processing equipment over the forecast period.
Country-wise Analysis of Agriculture Equipment Market
The Asia-Pacific area is predicted to grow rapidly due to increased demand for agricultural products, mostly from India and China. China leads Asia in terms of agricultural equipment production and sales, but India, Japan, and Australia are likely to take a considerable portion of the worldwide market in the next years, surpassing Europe as the largest market. The region's population is growing, necessitating the mechanisation of agriculture.
Moreover, the region is witnessing increased adoption of intelligent combine harvesters equipped with monitoring tools to increase farm yield. The Middle East and Africa region was valued at US$ 10.1 Bn in 2021 and is expected to record a CAGR of 2% over the forecast period. South Africa, Saudi Arabia, and UAE are notable markets in the region.
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7120
Key Segments Covered in the Agriculture Equipment Market Survey
By Product Outlook
- Agriculture Tractors
- Agriculture Harvesters
- Agriculture Planting Equipment
- Row Crop Planters
- Air Seeders
- Grain Drills
- Others
- Irrigation & Crop Processing Equipment
- Agriculture Spraying Equipment
- Hay & Forage Equipment
- Other Agriculture Equipment
By Application
- Agriculture Equipment for Land Development & Seed Bed Preparation
- Agriculture Equipment for Sowing & Planting
- Agriculture Equipment for Weed Cultivation
- Agriculture Equipment for Plant Protection
- Agriculture Equipment for Harvesting & Threshing
- Agriculture Equipment for Post-Harvest & Agro-Processing
Key Benefits of Agriculture Equipment Market
- The report provides an extensive analysis of the current and emerging global agriculture equipment market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2022 and 2032.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing agriculture equipment market opportunity.
- The global agriculture equipment market forecast analysis from 2022 to 2032 is included in the report.
- The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the industry.
Explore Fact.MR's Coverage on the Industrial Goods Domain-
Agricultural Micronutrients Market – Newly-released agricultural micronutrients industry analysis by Fact.MR showcases moderate market potential for the next ten years, with the market currently valued at around US$ 4.9 Bn, and projected to expand at a steady CAGR of 3.6% over the forecast period of 2021 to 2031.
Thresher Market - The trend of mechanization continues to penetrate farming activities, wherein a range of agricultural equipment and machines provide the essential input to increase the crop yield.
Portable Generators Market - Portable generators are a major source of noise and air pollution, which has contributed to a drop in sales in recent years. Portable generator sales have risen at a CAGR of about 5.5% over the last half-decade, with an expected value of US$ 850 Mn in 2021.
Drone Market - The global drones market is anticipated to reach US$ 30 Bn by the end of 2022, anticipated to experience an impressive 25% CAGR from 2022-2032 to reach US$ 279 Bn by the end of the aforementioned forecast period.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
