Agriculture Machinery and Equipment Market- Global Segments and Forecast upto 2019

2024-11-08 11:26:30 News & Society

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Agriculture machinery and equipment is any type of machinery that is used on farm for farming. It helps to bring farmers farm-tech prosperity, making harvest season simpler, and more profitable. The main application of agriculture machinery is traction and power, soil cultivation, planting, fertilizing and pest control, irrigation, producing sorter, hay making, harvesting, loading, milking. The key agriculture equipment includes tractors, harvesting, seeding machinery and other machinery such as wool pressers, grinders, windmill, and mixers.

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Machinery manufacture can be leaders either in developing integrated solutions for farming by entering into larger markets of all farm inputs, or alternately contribute to integrated farming solution led by others. Farm tractors are the leading product segment in the agriculture machinery market. It contributes major segment of all agriculture machinery sales. Asia and Africa, with their small farms are at primary stages in adopting modern agriculture machinery, but the demand is more than twice that of other regions. Turkey at crossroads of Asia and Europe finds big market for agricultural machinery and equipments. China and India are the primary nations fueling the market advances in this region. Other major regions possessing huge farms that are key market for agriculture equipment and machinery are North America, Europe, and Australia. New frontier regions in South America and Black sea region are growing market using integrated farming solution to optimize inputs.

The market of agriculture machinery is driven by farm income and crop production projections for the next season. Population expansion and strong economic growth in countries will put increasing pressure on agricultural sector thus increasing the sales of agriculture equipments and machinery. Demand is also driven by technology advances, as the efficiency gains with newer equipment using sophisticated technology making it economically feasible for farmers to replace their old machinery. The major constrained is the global economic crises that affect the sales of the agriculture machinery. Natural environment condition along with government laws may hamper the growth of agriculture sector and hence the market of agriculture machinery.

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The global agriculture machinery and equipment market is highly competitive with players like AGCO Corporation, Claas KGaA, CHN Global NV, John Deere, Kubota , Mahindra and Mahindra, Shifeng Group and YTO Group.

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