Worldwide Powered Agriculture Equipment Market to Witness a Pronounce Growth Rate ~5.43% of CAGR by 2023

Market Highlights

Agricultural equipment and tools play a vital role in various functions according to consumer needs. The powered agriculture equipment replace traditional methods due to highly innovated and advanced products. The population in a number of countries is growing with time, which has led to an increase in the overall demand for food. To increase the supply of the food and productivity, the agricultural processes need to be faster. This is possible with the utilization of the agricultural equipment and mechanization techniques on the farm. This increases the demand for the powered agricultural equipment. The governments of various countries provide schemes and subsidies for agriculture equipment. One such country is India. The country has schemes & subsidies such as Post Harvest Technology and Management scheme, Rashtriya Krishi Vikas Yojana (RKVY), and National Mission on Agricultural Mechanization (NMAM) to promote mechanization in agriculture activities. This is also one of the positive influences on the growth of the market.

The powered agriculture equipment market is expected to grow at CAGR of around 5.43% during the period 2017 to 2023.

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Market Research Analysis

Based on product type, powered agriculture equipment market has been divided as tractors, combine/combine harvester, sprayer, soil preparation & cultivation equipment, seed drill and others. Tractors segment accounted for the largest market share of 52.4% in 2016, with a market value of USD 36.37 billion. Tractors are essential in the agriculture industry and they are the highest volume segment in the market. The high sales of tractors can be attributed to their multifunction. This is because they are usable as agricultural equipment in monsoons and for other transport and commercial purposes. India is the leading tractor market, globally, followed by China and USA.

Combine harvesters was the second-largest market in 2016, valued at USD 9.5 Billion in 2016. Combine harvester is among the most expensive agricultural equipment in the market. It combines the process of reaping, threshing, and cleaning grains, and collecting them in a grain tank fitted in the machinery. Soil preparation & cultivation equipment segments is projected to grow at the highest CAGR of 5.59%. There are different equipment to be used for soil preparation and cultivation such as cultivator, plow, rotary tiller, and others. Sprayers are significant in agriculture process as they help in proper and timely application of herbicides, pesticides, fungicides and other products used for crop protection. The Crop Protection Products (CPP) are applied to the crops through sprays and are necessary for the better yields. Thus, powered agriculture equipment are of great use in such applications.

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Scope of the Report

This study provides an overview of the global powered agriculture equipment market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Powered Agriculture Equipment market by its voltage type, end-use and region.

Global Powered Agriculture Equipments Market, By Product

• Tractors
• Combine/Combine Harvester
• Sprayer
• Soil Preparation & Cultivation Equipment
• Seed Drill
• Others

Global Powered Agriculture Equipments Market, By Region

• North America
• Europe
• Asia Pacific
• Rest Of the World (ROW)

Key Players

The key players of global powered agriculture equipment market are AGCO Corporation (U.S.), John Deere & Co. (U.S.), Mahindra & Mahindra Ltd (India), CNH Industrial (U.K), Kubota Corporation (Japan), CLAAS Group (Germany), Alamo Group Inc. (U.S.), Escorts Group (India), Iseki & Co. Ltd (Japan), SDF S.P.A. (Italy), and other.

 The report for Global Powered Agriculture Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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