Agricultural Equipment Market to cross USD 212.5 Billion by 2023
- by KD Market Insights
- Feb, 2021
The agricultural market is one of the fastest growing markets because of the increasing expenditure on farming. According to the KD market Insights, the market is assumed to attain CAGR of 6.2% during the predicted period of 6 years i.e. 2018-2023. It is anticipated that market value will reach up to USD 212.5 Billion by end of 2023. The market is driven by factors such as rise in farming spending and encouragement by government to adopt advanced agricultural equipment. In the terms of regional platform, Asia Pacific accounted for highest market share in overall agricultural equipment market in 2017.
The agricultural equipment market research provides an analysis of its global market, insights, market trends, challenges, and key industry drivers, opportunities available for the growth in the market. The agricultural equipment market during the forecast period of 6 years has enormous growth due to its advantages it provides to enhance the market growth.
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The market of the agricultural equipment aims at providing the best product to its customers. The segmentation of the market provides demand for the product from a particular region so that products can be manufactured according to the particular demand. This report covers various regions geographically around the globe such as North America(U.S. & Canada), Europe (Germany, United Kingdom, Italy, Spain, Russia, France and Rest of Europe), Latin America(Brazil, Argentina, Mexico and Rest of Latin America), Middle East & Africa(North Africa, GCC, South Africa and Rest of Middle East & Africa), Asia Pacific (China, India, Japan, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific).
In this report, the agricultural equipment market is segmented on the basis of product, by application, and by geography. By product, it is divided into Farm tractors, two-wheel drive farm tractor, four-wheel drive farm tractor, combine harvesters, threshers, rotavators, reaper, seed drill, drip irrigation equipment, power weeder and others. By application it is further divided into Land Development & seed bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest & Agro Processing.
It provides the current scenario of the market and the target agricultural equipment market has to achieve in the market. For the better examination 2017 is considered as Base year, 2018 as an estimated year and 2019- 2023 as a forecasted year. All the factors are considered while providing the data about the market and analyzing the market structure. The segments are further divided into sub-segments for the better examination of the market and to examine every factor correctly in order to achieve appropriate market performance and trend of the market.
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The major techniques are also been taken into consideration to keep a check on the market concisely. The key market players are Deere & Company, CNH Industrial, AGCO Corporation, SDF Group, CLAAS KGaA mbH, The Toro Company, Kubota Corporation, Mahindra & Mahindra Ltd., Argo Tractors S.p.S, Escorts Ltd. and Other Major & Niche Players. The plans and strategies of the competitors are modified to provide the utmost benefit to the company.
In the final section of the report the analysis of the company’s business and the performance about the revenue breakup by segment, key facts, risk analysis, SWOT analysis, financial information, company’s overview, business strategy, marketing and distribution and about new product analysis, recent news related to acquisition, development, research, expansion have been considered. Moreover, the long and short-term strategies adopted by the company have been evaluated from time to time for the better overview of the product and the demand of the agricultural equipment market is estimated in order to have a better vision for the market to enhance the market growth and to reach the expectation of the consumers.
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