Farm Tractors and Harvesters Demand Enable Global Agriculture and Farm Machinery Market to Reach US$281.61 Billion by 2022
The global agriculture and farm machinery market was worth US$144.10 billion in 2014. Growing at an estimated CAGR of 8.7% from 2015 to 2022, the market will be valued at US$281.61 billion by 2022. The primary reason for this high growth rate will be a growing demand for harvesting machines and farm tractors due to the rapidly increasing global population. Harvesting machinery today is used for a myriad of functions, including planting, harrowing, ploughing, and tilling.
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