Due to the Increasing demand of the market include
population growth, increase in the demand for food production and need for the
mechanization of the farming, the global farm equipment market is expected to
grow at a compound annual growth rate (CAGR) of 9.6% and reach US$302 billion
by 2022 from $145 billion in 2014.
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.
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.
For more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-farm-equipment-market-outlook-2014-2022
To
browse more Agricultural Equipment
Market Research Reports visit: http://www.marketresearchreports.com/agricultural-equipment
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