Global Powered Agriculture Equipment Market: By Equipment Type (Tractor, Combine Harvester, Self-propelled Sprayer, Self-propelled Forage Harvester, & Self-propelled Sugarcane Harvester) - Analysis & Forecast 2016-22

The agriculture equipments and machineries have become an indispensable part of the agriculture process, by helping to save capital, labor, and time. This considerable role of agriculture equipments in ensuring sustainable food production has led to the growth of the market, and is further estimated to grow at a CAGR of 2.3% by 2022. Even though the agricultural equipments are more or less expensive, the benefits arising due to their usage in terms of both quantity and quality of the produce is much higher. Factors such as rising global population, shortage of manual labor, and easy availability of credit & subsidies are further driving the market towards growth.

 

The agriculture equipment market has been tracked along the lines of the key equipments used as well as key geographic regions. Herein the revenue generated from each of the key equipments, is tracked in order to calculate the market. The key products considered in the report are tractors, combine harvesters, sprayers, forage harvesters, sugarcane harvesters. The most popular equipment used is tractors because these are also used to pull other agricultural machines in order to help in tilling the ground, plant seeding, and performing other tasks, except harvesting.

 

The report also covers the agricultural equipment market on a global scale, and consequently provides detailed revenue data of the key regions. A separate segment has been made for these regions: The Americas, Europe, Asia-Pacific (APAC), and the Rest of the World (ROW). The analysis has identified that the maximum sales of the agriculture equipment occurs in the Asia-Pacific regions as it includes countries such as India, China, Japan, which are amongst the most populous countries globally and thus, a high demand of food is a primary concern when it comes to agricultural pursuits. Contribution in agricultural equipments market by Middle East & Africa (MEA) was comparatively less due to the limited agriculture activities and water resources in its regions.

 

Some of the key players in the industry are AGCO Corporation, CNH Industrial, CLAAS Group, Deere & Co., SAME DEUTZ FAHR, and Mahindra & Mahindra among others. The market is at the maturity stage where these companies are aiming for more product launches and technological up gradation in order to expand their operations and stop the new entrants from entering the market.