Global Agriculture Equipment Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Risk and Opportunity Assessment, Country-level Analysis for Every Segment, Key Player's Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Agriculture Equipment Market Research Report 2019: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Product Type (Tractor, Harvester, Cultivation & Soil Separation Equipment and others), Function (Harvesting, Planting & Fertilizing, Haying, Plowing & Cultivation and others), Sales Channel (OEM and Aftermarket) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025
Global Agriculture Equipment Market is expected to reach around USD 135 Billion by 2025, growing at a CAGR of 4.8% over the assessment period 2019-2025.
Distinguished players like, AGCO Corp. (U.S.), JC Bamford Excavators Limited (U.K.), Deere & Co. (U.S.), Iseki & Co. Ltd. (Japan), CNH Industrial N.V. (U.K.), Daedong Industrial Co. Ltd (U.S.), Kubota Corporation (Japan), Mahindra & Mahindra Limited (India) and Escorts Limited (India) contribute to the competitive landscape of the agriculture equipment market.
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The global agriculture equipment market has seen a lot of growth over the last few years. Traditional agricultural equipment are being replaces with new equipment that makes agricultural activities more time and energy efficient. The need for better efficiency in agriculture has grown with population and demand for food.
Market Research Future’s (MRFR) report on the agriculture equipment market includes a comprehensive analysis of various market segments and indicates expected growth. The report also provides an insight on market drivers, restraints and potential opportunities during the forecast period. MRFR has predicted steady growth for the agriculture equipment market during the forecast period.
Agriculture has always been labor intensive and time consuming, however, with labor costs rising and people shifting focus to urban jobs there is a scarcity in agriculture labor which has increased the demand for modern agriculture equipment. Key players in the market are also focusing on integrating GPS and other technologies for increasing agricultural productivity and reducing operational costs. The aforementioned are the primary drivers for growth of the global agriculture equipment market.
Additionally, in developing economies, the government offers subsidies to encourage modern agricultural practices thus further driving demand and growth of agriculture equipment. High populations in certain regions of APAC are also driving a high demand for food which is further reflected in farmers adopting modern agricultural practices that require current agriculture technologies.
Latest Industry News
Deere & Co has announced plans to construct a new design and testing lab at Iowa State University Research Park Ames, to test its agricultural technologies. While the investment was not disclosed, it was announced that the 33,000 sq ft lab is expected to be completed by summer of 2019. Deere hopes that the investment in a design and test lab will help enhance product design and improve development.
Owing to their growing success, Kubota in Canada is building a new facility in Pickering, Ontario. Kubota Canada hopes that the move will place them on stronger footing in the Canadian market for agriculture equipment. A new state-of-the-art facility is will cover 53,500 sq meters with an investment of $67 million.
Mahindra & Mahindra, has recently registered a 50% growth in tractor sales for 2018. Domestic sales in India have exceeded 300,000 and they are expecting this momentum in growth to carry forward in the coming years.
- Agriculture equipment manufacturers
- Agriculture equipment distributors and suppliers
- State and national regulatory authorities
- Raw material suppliers
- Government and industry associations
- State or government-owned corporations
- Research organizations
The global agriculture equipment market’s segmental evaluation is on the basis of product type, function and region.
Based on product type, the market is segmented into tractors, harvesters, cultivation & soil separation equipment and others.
Based on function, the market is segmented into harvesting, planting & fertilizing, haying and plowing & cultivation.
On the basis of regions the global market is segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW).
North America has been the dominating region for the agriculture market, this is largely due to the development of agriculture equipment to be more fuel efficient and carry improved features in this region. There is also a greater dependency on agriculture equipment in the North American region due to a dearth in farm labor.
Asia Pacific is projected to be the fastest growing regional market segment for the forecast period. Developing countries like China and India have been accustomed to a low level of mechanization while having large agricultural areas, however, this trend is changing and agricultural technology is evolving rapidly, thus driving swift growth in the APAC region.
The Middle East is also expected to grow at a steady pace as the region has similar agricultural conditions as the APAC region.
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Table of Contents
1. Executive Summary
2. Scope of the Report
2.1. Market Definition
2.2. Scope of the Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Sales Channel
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat of New Entrants
3.1.2. Bargaining Power of Buyers
3.1.3. Threat of Substitutes
3.1.5. Bargaining Power of Buyers
3.2. Value Chain/supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
List of Tables
Table 1 Global Agriculture Equipment Market, by Region, 2017–2025
Table 2 North America: Agriculture Equipment Market, by Country, 2017–2025
Table 3 Europe: Agriculture Equipment Market, by Country, 2017–2025
Table 4 Asia-pacific: Agriculture Equipment Market, by Country, 2017–2025
Table 5 Row: Agriculture Equipment Market, by Region, 2017–2025
Table 6 Global Agriculture Equipment Market, by Product Type, by Regions, 2017–2025
Table 7 North America: Agriculture Equipment Market, by Product Type, by Country, 2017–2025
Table 8 Europe: Agriculture Equipment Market, by Product Type, by Country, 2017–2025
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down and Bottom-up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter's Five Forces Analysis
Figure 7 Value Chain Analysis
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