According to World Agricultural Equipment, a new report from The QYResearch, sales of agricultural goods will climb at a healthy pace in most developing countries because of economic, population, and per capita calorie intake growth. These three trends will also facilitate the development of processed food and beverage industries in industrializing nations. As local demand for agricultural commodities increases, farmers will invest in new equipment and replace outdated machines in order to boost output, and increase the efficiency and productivity of their operations, causing mechanization rates in agriculture to rise. Furthermore, food producers will shift from using fairly basic equipment to larger and more powerful models as farm incomes rise and more farmers are able to gain access to the capital needed to invest in large-scale crop and animal production, adding to market value gains in industrializing nations. Through 2019, livestock machinery is projected to register the fastest growth of any major agricultural equipment product type. Freedonia projects that in many developed countries, a more favorable economic environment will lead to higher levels of meat, poultry, and dairy sales, which tend to be fairly expensive relative to other goods. To satisfy growing demand for their products at home, suppliers in industrialized nations will invest in a variety of new, more advanced livestock machinery. They will also benefit greatly from new meat, poultry, and dairy export sales opportunities in developing countries, where many more households will be able to afford these goods because of rising personal incomes.
Market Analysis and Insights: Global Farm (Agricultural) Equipment Market
Due to the COVID-19 pandemic, the global Farm (Agricultural) Equipment market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Farm Tractors accounting for % of the Farm (Agricultural) Equipment global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Livestock Management segment is altered to an % CAGR throughout this forecast period.
Farm equipment are mechanical devices such as tractors and several attached implements, which are intended to be utilized in diverse farming operations in order to save time and labor. It is also known as Agricultural Equipment which involves all machineries which assist in the production of crops and agricultural livestock. These are easy to use and aid in diverse agricultural operation such as cultivation, spraying of fertilizers, insecticide, pesticides, herbicides, harvesting of crop and livestock farming. The agricultural sector is changing its practices from traditional farming to modern farming and this equipment are essential tools that enhance yield and improve the maintenance of soil and have easy approach in farming.
Global Farm (Agricultural) Equipment Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Farm (Agricultural) Equipment Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Farm Tractors
Harvesting Machinery
Planting & Fertilizing Machinery
Haying Machinery
Livestock Machinery
Plowing & Cultivating Machinery
Parts & Attachments
Other Agricultural Equipment
Segment by Application
Livestock Management
Farm Management
By Company
AGCO
CLAAS
CNH Industrial
John Deere
Kubota
SAME Deutz-Fahr(SDF)
Kuhn
Kverneland
Mascar
MaterMacc
Alamo
Argo
Amazone H. Dreyer
Bucher
Daedong
Escorts
Mahindra & Mahindra
Eicher Tractors
Angad Tractors
PreetTractors
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina