Farm Equipment Market is expected to grow from its initial estimated value of USD 101.89 billion to a projected value of USD 138.69 billion by 2026, registering a CAGR of 3.93% in the forecast period of 2020-2026.
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.
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Farm equipment is a categorical name given to the equipments and machinery that are used by farmers in various agricultural activities, such as harvesting, ploughing, seeding, and various other activities. These equipments are in mechanized form and thereby result in increased output from the farm land subsequently resulting in increased profit margins.
Segmentation: Global Farm Equipment Market
- By Power Output (Farm Tractor, Autonomous Tractor)
- By Farm Tractor Drive Type (Four-Wheel, Two-Wheel)
- By Equipment Type (Balers, Combines, Sprayers)
- By Function (Harvesting & Threshing, Sowing & Planting, Ploughing & Cultivating, Plant Protection & Fertilizing, Others)
- By Rental Equipment Type (Combines, Tractors, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global Farm Equipment Market
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.
- 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
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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