Global Farm Equipment Market: Size, Trends, Forecasts (2019-2023)

Global Farm Equipment Market: Size, Trends, Forecasts (2019-2023)

  • May 2019 •
  • 81 pages •
  • Report ID: 5775442 •
  • Format: PDF
Scope of the Report
The report entitled “Global Farm Equipment Market: Size, Trends, Forecasts (2019-2023)”, provides an in-depth analysis of the farm equipment market including detailed description of market sizing and growth. The report provides analysis of the farm equipment market by value, by products, by application and by region. The report further provides detailed products analysis and regional analysis of the global farm equipment market by value.

Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall farm equipment market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The major players dominating the farm equipment market are John Deere, AGCO Corporation, Mahindra Group (Mahindra & Mahindra Ltd.) and CNH Industrial N.V. The four companies have been profiled in the report providing detailed analysis of their financial information and business strategies.

Country Coverage
North America

Company Coverage
John Deere
CNH Industrial N.V.
AGCO Corporation
Mahindra Group (Mahindra & Mahindra Ltd.)

Executive Summary
Farming is an activity performed for cultivation of crops on field. Farming activities includes various procedures, such as preparation of soil, adding manure, irrigation of fields etc. Afterwards farmer grows cereals, vegetables, fruits etc. on the field. Farming is done in two types: large-scale commercial farming and scattered small-holder farming.

Farm equipment defined as the mechanical devices functioned for managing the farming activities. The devices include tractors, harvesters, irrigation equipment etc., which are intended to be utilized in diverse farming operations such as tillage of soil, spraying of fertilizers, harvesting of crops, irrigation system, livestock farming and many more.

Farm equipment is essential for farming practices. The agricultural sector is perceiving a change in farming pattern from traditional farming to modern or mechanized farming. Therefore, farm equipment became an essential tools that would upsurge yield and productivity of crops.

The global farm equipment market has witnessed stable growth in the past few years and is anticipated that during the forecasted period (2019-2023) the market would further propel with a poised growth rate. The market is expected to be driven by various growth augmenting factors such as rising organic farming, increasing grain production, rising demand for plant-based proteins, upsurge in government initiatives, rising GDP in emerging economies etc.

However, the global farm equipment market is not free from challenges that are impeding the fueling growth of market. Some of the eminent challenges faced by the market are changing climatic conditions and high equipment & maintenance cost.

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