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Global Agriculture and Farm Machinery Market to Expand at 8.7% CAGR between 2015 and 2022

Posted on Sep 30, 2015

A market research report, titled “Agriculture and Farm Machinery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022”, has been recently announced by the market intelligence company Transparency Market Research.The report projects that the global agriculture and farm machinery market will have a valuation of US$281.61 bn by 2022. The market, which had a valuation of US$144.10 bn in 2014, is expected to expand at an 8.7% CAGR between 2015 and 2022 to achieve such a rise in its prospects.

Browse the full Agriculture and Farm Machinery Market (Product: Farm Tractors, Harvesting Machinery, Plowing and Cultivation Machinery, Planting and Fertilizing Machinery, Haying Machinery, Other Agricultural Machinery and Parts and Attachments) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022 report at https://www.transparencymarketresearch.com/agriculture-forestry-machinery.html

The chief factors leading to the high demand for agriculture and farm machinery across the globe include the rising level of mechanization in the agriculture sector and government subsidies in many countries for purchasing agriculture and farm machinery as a way to promote improved farm production. Furthermore, the rising demand for food products to satisfy the ever-increasing global population has also prompted an increased demand for a variety of agriculture and farm machinery in the global market.

 

agriculture-forestry-2016-machinery

The report segments the global agriculture and farm machinery market based on two criteria: product types and key regional markets.Based on the types of products, the market is segmented into farm tractors, plowing and cultivation machinery, planting and fertilizing machinery, harvesting machinery, haying machinery, and parts and attachments.

Of these, the high demand for farm tractors and harvesting machinery across the globe is projected to propel the overall market for agriculture and farm machinery over the report’s forecast period. The demand for harvesting machinery is most prominent in Asia Pacific, where these products are observing high demand from countries such as India and China. The high demand can be attributed to the rising food consumption for sufficing the rising population of these countries. The report states that the market segments of planting and fertilizing machinery and plowing and cultivation machinery will expand at moderate pace over the report’s forecast period.

Geography-wise, the market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. In terms of adoption of new technologies, Asia Pacific, Europe, and North America were the key contributors to the global agriculture and farm machinery market in 2014, with Europe leading the market, accounting for a 36% market share.The report states that the global market for agriculture and farm machinery is highly fragmented and features a large number of businesses vying for a share of profits in this highly competitive market. Many businesses have focused their attention on the area of making agriculture and farm machinery technologically advanced. Many other companies, catering mostly to price-conscious developing markets, are introducing innovative technologies at competitive costs.Some of the key vendors in the market are CLAAS KGaA mbH, Deere & Company, AGCO Corporation, and CNH Global N.V.

The global agriculture and farm market is segmented into the following categories:

Agriculture and Farm Machinery Market, by Product Type:

  • Farm Tractors
  • Harvesting Machinery
  • Plowing and Cultivation Machinery
  • Planting and Fertilizing Machinery
  • Haying Machinery
  • Other Agriculture Machinery
  • Parts and Attachments

Agriculture and Farm Machinery Market, by Geography:

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America


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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our highly experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. 

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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