According to a recent Fact.MR report, demand for agricultural equipment is expected to grow at a CAGR of 4% in terms of value over the assessment period. Additionally, the survey predicts that by the end of 2032, the market for agricultural equipment will likely surpass US$ 237.08 Bn.
Agriculture equipment sales grew at a CAGR of 4.9% from 2015 to 2021, reaching a market value of US$ 154 billion. Prospects slightly worsened during the COVID-19 epidemic because lockdowns and restrictions on manufacturing activities threw off the demand-supply equilibrium. The removal of limitations and a decrease in the severity of the infection helped to eventually end the recession.
For More Insights into the Market, Request a Sample of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7120
Over the forecast period, a lack of workers will be a major factor in driving the use of agricultural equipment, notably in Western Europe and the United States. The growing population to fulfil the world's food needs will also be a major driver, driving up demand in the long run, in addition to developments in the agricultural equipment space and manpower shortages.
Agriculture Equipment Market Size (2022)
US$ 160.16 Bn
Sales Forecast for Agriculture Equipment (2032)
US$ 237.08 Bn
Global Market Growth Rate (2022 to 2032)
Important conclusions from the market study
· In 2020, tractors accounted for a sizable share of the entire market, which is anticipated to grow to more than US$ 80 Bn by 2032.
· Due to the significance of harvesting and threshing in farming, the segment accounts for nearly 20% of total revenue.
· Agriculture equipment sales in the U.S. will grow at a CAGR of 5% through 2032, while sales in MEA will soar at a CAGR of 2% to reach over US$ 10 Bn in 2022 and beyond.
· By the end of 2022, the global market for agricultural equipment will be worth US$ 160.16 billion.
Request More Information about Report Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=7120
Product innovation and strategic mergers and acquisitions have transformed the competitive environment of the market for agriculture equipment. To take advantage of lucrative opportunities in developing nations, front-runners are focusing capacity improvements and global footprint development.
· CLAAS KGaAmbH purchased a minority share in the Dutch startup AgXeed B.V. in May 2021. The transaction was made with the goal of creating and marketing autonomous farming equipment.
· In an effort to expand its client base, John Deere unveiled the new 6155MH Tractor in August 2021. This tractor offers dependability and all the performance that has been field-tested like the M series.
Key Companies Profiled
· AGCO Corporation
· Escorts Group
· ISEKI & Co. Ltd.
· APV GmbH
· Bellota Agrisolutions
· CLAAS KGaAmbH
· CNH Industrial N.V
· Deere & Company
For In-Depth Competitive Analysis, Buy now: https://www.factmr.com/checkout/7120
Key Market Segments in the Research of Agriculture Equipment
- By Product Outlook
- Agriculture Tractors
- Agriculture Harvesters
- Agriculture Planting Equipment
- Row Crop Planters
- Air Seeders
- Grain Drills
- Irrigation & Crop Processing Equipment
- Agriculture Spraying Equipment
- Hay & Forage Equipment
- Other Agriculture Equipment
- By Application
- Agriculture Equipment for Land Development & Seed Bed Preparation
- Agriculture Equipment for Sowing & Planting
- Agriculture Equipment for Weed Cultivation
- Agriculture Equipment for Plant Protection
- Agriculture Equipment for Harvesting & Threshing
- Agriculture Equipment for Post-Harvest & Agro-Processing
Agriculture Equipment Market, Agriculture Equipment Market Forecast, Agriculture Equipment Market Analysis, Agriculture Equipment Market Trends, Agriculture Equipment Market Report, Agriculture Tractors Demand, Agriculture Harvesters Sales Affordable Press Release Services, Affordable Press Release Distribution Site, Free Press Release Site, Free Press Release Submission, Press Release