Published Date : Jul 24, 2017
ALBANY, New York, July 24, 2017 – MarketResearchReports.biz announces the availability of a fresh report in its repository, which provides comprehensives assessment of the market for farm or agriculture equipment across the globe, as well as provides forecast estimations for the duration of 2016 to 2020. The report, titled “Global Farm (Agricultural) Equipment Market: Industry Analysis & Outlook (2016-2020),” studies all factors that may influence the demand, catches the latest trends, throws light on the potential of different regions, and profiles a number of leading companies in order to understand the competitive landscape. The report has been created by a group of professional market research analysts, aspiring to serve as a reliable business tool for audiences such as agriculture equipment manufacturers, agricultural institutes, intermediary suppliers including wholesalers and traders, regulatory bodies, and farming companies.
As per the findings of the report, the global farm equipment market is driven by various factors, such as declining agricultural workforce, rising global population with which the demand for food crops has escalated, declining global arable land, continuous replacement demand from the developed countries, incrementing global grain production, and easy credit and subsidies availability in developing markets. The report also catches a few trends of the market for agricultural equipment, such as increased focus on farm mechanization, adoptability of precision farming, lower tractor penetration in developing countries, and moderate replacement demand. On the other hand, the companies operating in the farm equipment market are facing challenges from fluctuating weather conditions, dynamic economic environment, and changing government policies.
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Based on product type, the report segments the global agricultural equipment into farmstead equipment and field equipment. While farmstead equipment are primarily used in a stationary manner, such as cotton gins and grain augers, farm field equipment includes portable devices such as mobile. On the basis of application, the global farm equipment market has been categorized into primary tillage machine, farm tractors, sowing and planting machines, secondary tillage machine, crop processing machines, harvesting and threshing machines, and hay making equipment. Geographically, the report takes stock of the potential of agricultural equipment market in the regions of North America, Asia Pacific, and Europe, and rates the emerging economies of India, China, and Brazil as highly profitable targets, gaining extended demand as a result of lower market penetration, rising population, increasing income, and progressive government policies. In the developed regions of North America and Europe, the market for farming equipment is saturated.
Some of the key companies in the global farm equipment market that have been profiled in this report, are: CNH Industrial N.V., Deere & Company, AGCO Corporation, and Alamo Group Inc. For each of these companies, the report provides business overview, financial assessment, and recent business strategies that will define their progress in the near future.
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