Global Agriculture Equipment Market size is projected to be valued $266 Billion by 2024; with a CAGR of 5.5% from 2017 to 2025. Agriculture equipment is used for faster and efficient cultivation process. Major agriculture equipment such as irrigation equipment, agriculture spraying equipment, tractors, and harvesters among others have gained wide popularity in the market. Various support schemes such as, National Horticulture Mission and National Food Security Mission provided by the government and Department of Agriculture and Cooperation also drives the agriculture equipment market.
Economic stability, rise in population, and adoption of advanced farming technique are the major factors driving the global agriculture equipment market. However, lack of proper knowledge about effective agricultural equipment among farmers may act as a restraint for the market. Several schemes provided by the government in order to increase agricultural productivity would provide several growth opportunities for the market in the coming years.
The global agriculture equipment market has been segmented on the basis of product type and geography. By product type, the market is further segmented into harvesters, tractors, soil preparation & cultivation equipment, irrigation & crop processing equipment, hay and forage equipment, agriculture spraying equipment, and others.
Based on geography, the global agriculture equipment market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the agriculture equipment market are Mahindra Group, AGCO Corporation, Concern Tractor Plants, Escorts Limited, Valmont Industries Incorporated., Weifang Euroking Machinery, Deere & Company, Agrostroj Pelhrimov a.s, Same Deutz-Fahr Group, and China National Machinery Industry Corporation, among others.
The report covers
Scope of the Global Agriculture Equipment Market
Product Type Segments