Published Date : Oct 13, 2016
Of late, the global market for agricultural machinery manufacturing has been witnessing a significant surge in its valuation. The soaring need to expand the cultivation capacity in various economies in order to produce more food has increased the demand for highly advanced, state-of-the-art farming techniques and machines, leading to a robust rise in the market for agricultural machinery manufacturing across the world.
Agricultural machinery is mainly utilized for tillage, sowing, threshing, and the protection of plants. Agriculturists having large farming lands prefer deploying agricultural machinery with more horsepower that is capable of covering a large area with efficiency.
Demand for Farm Tractors to Remain High
Farm tractors, threshing machinery, dairy equipment, harvesting machinery, planting and fertilizing machinery, and cultivating and plowing machinery are the main products available in the global agricultural machinery manufacturing market. The demand for farm tractors has been higher than other equipment and is likely to remain so over the next few years.
The growing knowledge regarding the adaptability of tractors among farmers is giving rise to their demand remarkably, reflecting positively in their sales.
Europe to Retain Leading Position in Global Agricultural Machinery Manufacturing Market
Geographically, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the key contributors to the global agricultural machinery manufacturing market. Thanks to the early adoption of technology, Europe has emerged as the leading regional market for agricultural machinery manufacturing across the world. The region is projected to retain its position over the next few years. Asia Pacific and Latin America are also anticipated to experience a healthy rise in the coming years.
Deere & Co., AGCO Corp., Kubota Corp., CLAAS KGaA mbH, Caterpillar Inc., Escorts Group, Yanmar Co. Ltd., CNH Global NV, Mahindra & Mahindra Ltd., and Tractors & Farm Equipment (TAFE) Ltd. are some of the leading agricultural machinery manufacturers across the world.