Global Farm Equipment Market is expected to grow from its initial estimated value of USD 101.89 billion in 2018 to a projected value of USD 138.69 billion by 2026, registering a CAGR of 3.93% in the forecast period of 2019-2026. This rise of market value can be attributed to increased support from government and increased effectiveness with the adoption of mechanized labour.
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Key Market Competitors: Global Farm Equipment Market
Few of the major competitors currently working in the farm equipment market are AGCO Corporation; KUBOTA Corporation; CLAAS KGaA mbH; SDF S.p.A.; Deere & Company; Mahindra & Mahindra Ltd.; J C Bamford Excavators Ltd.; Escorts Limited; Alamo Group Inc.; Bucher Industries; CNH Industrial N.V.; ISEKI & CO., LTD.; YANMAR CO., LTD.; Exel Industries; ZETOR TRACTORS a.s.; Tractors and Farm Equipment Limited and International Tractors Limited.
Key Developments in the Market:
In December 2018, CNH Industrial N.V. announced the launch of their “AGXTEND” aftermarket agricultural farming equipment brand. This brand will focus on providing consumers of CNH’s various agricultural brands aftermarket expertise in precision farming and agricultural technology.
In September 2018, Escorts Limited announced the launch of their first driverless, tractor. The product will help farmers in maximising their output significantly while the tractor can operate autonomously in the farming processes.
In April 2018, Mahindra & Mahindra Ltd. announced the launch of Mahindra “Novo” range of tractors that are semi-autonomous and equipped with the latest cost-effective technology. The products available in the range include a two-wheel drive 65HP “655 DI”, and a four-wheel drive 75HP “755 DI”.
Global Farm Equipment Market Segmentation:
- By Power Output
- Farm Tractor
- Less than 30 Horsepower
- 31-70 Horsepower
- 71-130 Horsepower
- 131-250 Horsepower
- Greater than 250 Horsepower
- Autonomous Tractor
- Less than 30 Horsepower
- 31-100 Horsepower
- Greater than 100 Horsepower
- By Farm Tractor Drive Type
- By Equipment Type
- Non-Cereal Crops
- Cereal Crops
- By Function
- Harvesting & Threshing
- Sowing & Planting
- Ploughing & Cultivating
- Plant Protection & Fertilizing
- By Rental Equipment Type
- By Geography
- Farm Tractor
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Increasing adoption of mechanized methods of agriculture and capital-intensive agriculture techniques due to the increased efficiency and effectiveness associated with the usage of the equipments; this factor is expected to act as a driver for the market growth
Lower adoption rates from farmers of developing regions for the usage of high cost farm equipment; this factor is expected to restrain the market growth
Global Farm Equipment Market Competitive Analysis:
Global farm equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of farm equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Global Farm Equipment Market Table Of Content:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Global Farm Equipment Market Landscape
Part 04: Global Farm Equipment Market Sizing
Part 05: Global Farm Equipment Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers And Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
And More…Get Detailed TOC | At https://databridgemarketresearch.com/toc/?dbmr=global-farm-equipment-market
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