Global Farm Equipment Market Report: 2014 Edition

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Albany, NY -- (SBWIRE) -- 10/29/2014 -- Agricultural or farm equipment cover a broad range of machines and tools which help the farmers to carry out the various processes required to enhance the output as well as the quality of crops. Based on their characteristics, agricultural equipment can be divided into two types: farmstead equipment and field equipment. Engineering inputs to agriculture by way of mechanization has increased considerably during the recent years so as to meet the timeliness of farm operations, reducing drudgery, capacity enhancement and efficient utilization of inputs. With the implementation of agricultural support policies, growth in farmer’s income and the changes in agricultural production methods, global farm equipment industry is scaling new heights and promise healthy development in coming years.

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Europe is the unprecedented leader in farm equipment market. However, Asia Pacific presents a huge market opportunity for this industry on the back of ameliorated economic conditions and better funds for investment in R&D of agriculture machinery. India and China constitute the largest markets for agricultural equipment in terms of unit sales, although typical equipment tends to be in the form of smaller horsepower, low-technology tractors with relatively low unit prices. These emerging economies have incessantly increased their production volumes and will continue to be the major drivers of the industry.

Growth in the global market for agricultural equipment is dependent on varied factors including economic scenario, weather and demand. Population growth is expected to fuel demand for agriculture produce, which in turn would lead to increase in demand for farm equipment. Rising standard of living and increasing personal disposable incomes in developing countries are expected to boost the demand for agricultural products and enhance the demand for protein rich foods. Further, governments in these countries are increasingly placing greater emphasis on enhancing productivity through automation or mechanizing traditional processes.

The report, ”Global Farm Equipment Market” analyzes the development of the agricultural machinery industry and studies the market in terms of volume sales for the global market along with the regions- US, Canada, Brazil, Germany, United Kingdom, Turkey, China and India. The major trends, growth drivers as well as issues being faced by the indFustry are being presented in this report. The three major players in the industry, John Deere, AGCO Corporation, and CNH Global NV Inc. are being profiled, along with their key financials and strategies for growth.

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Equipment refers to the machinery that is used in carrying out heavy duty tasks. Today, such industrial equipment has revolutionized the various sectors across the globe. The global equipment market continues to give an impetus to the various technological advancements and economic developments. The biggest example it has created for other industries to learn from is the manufacturing and construction industry. These two sectors largely depend on the equipment
for its sustenance and growth.

Those looking to be a part of global equipment market must have thorough knowledge of equipment operations, modern technology, and its uses. This includes understanding the product right from its design, inclusive of engineering and aesthetic aspect, to its end use. The most complex and big machines are used to finish jobs with absolute finesse. For instance, the construction processes uses equipments such as earth movers, cold planning, wheel dozers, demolition machineries, grading, soil stabilizing, asphalt compaction, wheel excavators, road construction equipment, hydraulic excavators, motor graders, forklifts, drilling equipment, brick-making machineries, tunneling equipment, cement mixers, and more to perform intricate jobs accurately and smoothly.

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