Global Farm Equipment Market is poised to grow at a CAGR of 9.6% to reach $302 billion by 2022.
The Global Farm Equipment Market is valued at $145 billion in 2014 and is expected to grow at a CAGR of 9.6% to reach $302 billion by 2022. Some of the key drivers of the market include population growth, increase in the demand for food production and need for the mechanization of the farming. However, factors such as increasing subsidies provided by government to purchase farm equipment and support farming practices for improved quality crops inhibit the market growth.
Request For Sample Report, Before Purchasing:
Farm Equipment Market is segmented by type, by end-users and by geography. Based on type, the market is classified into Harvesting Equipment, Irrigation Equipment, Fertilizing and Pest Control Equipment, Planting Equipment, Soil Cultivation Equipment and Tractors. Based on end-users, market is categorized as Farmers, R&D in Agriculture and Home Grown Food Industries. Based on geography, market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
The key players in the Farm Equipment Market include Alamo Group Incorporated, Caterpillar Incorporated, Escorts Limited, Fiat Industrial SpA, Groupe Exel Industries, Mahindra & Mahindra Limited, Tractors and Farm Equipment Limited, Valmont Industries Incorporated, WORLD Group and Yanmar Company Limited.
About Market Research Store
Market Research Store is a single destination for all the industry, company and country reports. We feature large repository of latest industry reports, leading and niche company profiles, and market statistics released by reputed private publishers and public organizations. Market Research Store is the comprehensive collection of market intelligence products and services available on air.