Pune, 14, Dec, 2022: The “Farm Equipment Market” report published by Maximize Market Research, the market is expected to grow from USD 2.56 million units in 2021 to USD 3.73 million units in 2029, at a CAGR of 4.8 percent for the forecast period from 2022 to 2029.
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Farm Equipment Market Scope and Research Methodology
The Farm Equipment Market is examined locally, regionally, and globally in the research. The study includes biographies and a strategic overview of all major international manufacturers of farm equipment. The study focuses on analysing the drivers, challenges, constraints, and opportunities present in the market in order to comprehend the underlying factors that have an influence on the farm equipment market. In depth details on processing and manufacturing needs, manufacturing unit setup costs, returns on investment, and profit margins are also covered in the research. This makes it easier for newcomers to understand the prospects in the farm equipment market and the start-up costs. The analysis provides future view with expected trends and market dangers, assisting stakeholders, new entrants, investors, entrepreneurs, researchers, industry participants, and followers for an easy comparison of numerous market variables.
PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Farm Equipment Market. Thus the report provides a detailed overview of the Farm Equipment Market. The size of the worldwide market has been estimated and validated using the bottom-up methodology. By determining the overall production volumes and examining demand patterns and potential, the market size is calculated in terms of volume. The research studies and analyses both the major players and the regional ones. The analysis of the workings of the nations’ import and export, as well as their production and consumption, is done by segments and sub-segments.
Farm Equipment Market Overview
Farm equipment is made up of mechanical tools like tractors and different attachments that may be utilised to speed up and simplify a number of farming tasks. These equipment are easy to use and assist with a number of agricultural tasks including primary and secondary soil tillage, cultivation, fertiliser application, insecticide, pesticide, and herbicide application, crop harvesting, irrigation systems, water management, and livestock production. Agricultural equipments are necessary for farming practises.
Farm Equipment Market Dynamics
The mechanisation of numerous farming activities, such as ploughing, harrowing, planting, harvesting, and tilling, is expected to expand, leading to an expansion in the worldwide agriculture equipment market. As the advantages of using mechanical equipment, such as tractors, harvesters, and other attachments, become increasingly obvious, farmers’ dependence on agriculture equipment increases. Additionally, precision farming promotes profitability, safeguards land resources, and maintains the long-term viability of farming operations, all of which raise agricultural production. Agriculture equipment is used more often since a variety of products made by well-known industry players help farmers with various agricultural operations including planting and harvesting. These reasons are driving the expansion of the worldwide Farm Equipment Market.
Increased food production is required due to the growing global population. To assist satisfy this need, agricultural equipment that is automated and semiautomatic can be used to improve farm cultivation efficiency. Equipment for agriculture enables the production of more crops with less labour and time, increasing the food supply for the expanding population. As a result, the need for agricultural equipment increases along with the growth of the global population, driving the market for agricultural equipment ahead.
Farm Equipment Market Regional Insights
Asia-Pacific is one of the fastest-growing markets since companies there have been introducing new agricultural equipment. The region has dominated the market as a consequence of quicker improvements and product debuts. The Chinese government is boosting farm mechanisation for a variety of crops, including rice, wheat, corn, potatoes, oil seed rape, cotton, and sugarcane. 95.5% of China’s wheat land is harvested with combine harvesters, according to the country’s Ministry of Agriculture. Sales may increase and innovation may be stimulated by a greater emphasis on agricultural mechanisation and the government’s objective of fully automating rice, wheat, and maize fields over the next ten years.
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Farm Equipment Market Segmentation
By Drive Type:
- 2 wheel drive
- 4 wheel drive
By Equipment Type:
- Tractors
- Combines
- Foragers
- Balers
- Loaders
By Automation:
- Automatic
- Manual
Farm Equipment Market Key Competitors:
- Deere & Company
- CNH Industrial NV
- AGCO Corporation
- Mahindra & Mahindra Limited
- Kubota Corporation
- Iseki & Co. Ltd
- Escorts Limited
- Daedong Industrial Co. Ltd
- JC Bamford Excavators Limited
- Lindsay Corporation
- ARGO SpA
- FotonLovol International Heavy Industries Company Ltd.
- Kuhn Group
- Landini
- Netafim Limited
- Valmont Industries Incorporated
- Alamo Group Incorporated
Key questions answered in the Farm Equipment Market are:
- What is Farm Equipment?
- What is the growth rate of Farm Equipment Market for the next five years?
- What is the nature of competition in Farm Equipment industry in developed and developing economies?
- Who are the key players in the Farm Equipment Market?
- Who are the market leaders in Farm Equipment industry in Europe
- Who are the market leaders in Farm Equipment industry in USA and Canada
- Who are the market leaders in Farm Equipment Market in India, China, Japan and South Korea?
- What are the factors affecting growth in the Farm Equipment Market?
- Who held the largest market share in Farm Equipment Market?
- What are the factors for the growth of Asia-Pacific region in Farm Equipment Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Drive Type, Equipment Type, Automation and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Farm Tractor Market –The Vegan Farm Equipment Market size is expected to reach USD 104 billion by 2029 at a CAGR of 5.1 percent during the forecast period. The Farm Tractor Market is expected to be driven by precision farming, as well as the increasing adoption of farm technology to increase production.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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