Farm Equipment Market

Date: 2016-05

Farm equipment, also referred as agricultural equipment, encompasses machineries that are used for the production of crops and agricultural livestock. Global farm equipment market hosts a wide variety of machineries that cater to the needs of agricultural workers of different regions. Farm equipment market report provides a detailed analysis on the industry by type, by farming phase and by region.

Major products in the market include:

路 Tractors

路 Tillage equipment

路 Planting equipment

路 Harvesting equipment and so on

Farm mechanization gained its importance in the recent years with growing population and growing food requirements. The global market for farm equipment has witnessed a drastic change in product offerings due to the intensification of farms and large-scale farming practices. Tractors account for the maximum share in this market with China and India as the dominant markets in terms of volumes. Global farm equipment market is estimated to reach $198.4 billion by 2020 at a CAGR of 5.7% during 2015-2020. Increasing government support in the form of subsidies for the purchase of farm machinery and supportive market prices for crops are the major drivers of the market.

Tractor is the leading farm equipment type in the global farm equipment market which held 36% of the market value in 2014. Harvesting machinery segment is forecast to be the fastest growing market. Escalating application of micro irrigation methods across the globe fuels the irrigation equipment market which is estimated to exhibit a healthy growth rate. Increasing adoption of no-till farming in Americas inhibits the market growth for tillage equipment.

The farm equipment report is segmented based on type, phase and region. On the basis of types of farm equipment the market is segmented into tractor, tillage equipment, planting equipment, plant protection equipment, irrigation equipment, combine harvesters, threshers, hay and forage equipment, crop processing equipment and others. Based on the different phases of farming the report is segmented into land development, sowing and planting, cultivation, harvesting and threshing and post-harvesting. The overall market is also presented from the perspective of different geographic regions and the key countries in each region. The market has been segmented into four regions: North America, Europe, Asia-pacific and Rest of the World. Major markets for farm equipment are analyzed for each region with market share analysis, export/import analysis and other market dynamics.

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