Global Powered Agriculture Equipment Market Is Required to Achieve 2.36 Million Units by 2022 with a CAGR of 1.48%
Global Powered Agriculture Equipment Market Information- by Equipment, and by Region - Forecast to 2022
Pune, India -- (SBWire) -- 08/16/2017 --Market Research Future adds new report of "Global Powered Agriculture Equipment Market Research Report- Forecast to 2022" it contains Company information, geographical data and Table of Content
The need for agriculture equipment is gradually rising due to constraining factors such as rising global population, growing labor shortage and rural wages. The increasing mechanization in agriculture provides with the solution of the above issues and offers the scope of maximizing production and productivity both. The rising farm income is the major factor driving the end users to adopt more of the agriculture equipment. The agriculture equipment market has been categorized into key equipment, namely: tractors, combine harvesters, sprayers, forage harvesters, and sugarcane harvesters. In this report, the market share and size of these agriculture equipment have been tracked.
The sales of tractor market was 1.77 million units in 2012, which increased by 15% in 2013. The market, however, declined by 2.5% in 2014 and further went down to 2.8% in 2015. However, this sales volume is predicted to increase and reach 2.286 million units by 2022. The sales of combine harvester was 0.056 million units in 2012, which increased by 7.6% in 2013. The market then declined by 18.9% in 2014 and further 4.9% in 2015. However, this sales volume is predicted to increase and reach more than 50,000 units by 2022.The sales of sprayers was more than 14,000 units in 2012, increased by 10.45% in 2013. Later the market declined by 7.5% in 2014 and increased by 1.24% in 2015. However, this sales volume is predicted to increase and reach more than 16,000 units by 2022.
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The sales of forage harvester was 5,515 units in 2012, which decreased by 8.2% in 2013. Further the market declined by 5.5% and 9% in 2014 and 2015 respectively. However, this sales volume is predicted to increase and reach more than 5,000 units by 2022. The sales of sugarcane harvester was more than 1,200 units in 2012, which increased by 6% in 2013. Later the market declined by 2.2% in 2014 and further 2.4% in 2015. However, this sales volume is predicted to increase and reach more than 2,000 units by 2022.
- APAC is leading the market by selling a total of 0.58 million units of agricultural equipment in 2015
- Maximum sales of tractors i.e. 0.57 million units in the year 2015 was from India, followed by China
- The total units of tractors sold globally are estimated to reach 2.04 million units by the end of 2016 and 2.286 million units by 2022
Study Objectives of Powered Agriculture Equipment Market
- Detail analysis of the market's segments and sub-segments
- To estimate and forecast market size by equipment
- To analyses key driving forces which are influencing the market
- Region level market analysis and market estimation of North America, Europe, Asia, and rest of the world (RoW) and their countries
- Value chain analysis & supply chain analysis of the market
- Company profiling of major players in the market
- Competitive strategy analysis and mapping key stakeholders in the market
- Analysis of historical market trends and technologies along with current government regulatory requirements
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The leading market players in powered agriculture equipment market primarily are
- AGCO Corporation
- Alamo Group
- Claas Group
- CNH Industrial NV
- Deere & Company
- Escorts Group, ISEKI & Company Limited
- Kubota Corporation
- Mahindra & Mahindra (M&M)
- Deutz-FAHR Group S.P.A.
These companies are further aiming for more product launches and mergers & acquisitions to expand their market and stop new entrants from entering. The expected growth rate between 2016 and 2022 of the market would remain less than 5% because of factors such as: high cost of equipment, fluctuating weather conditions, altering government policies, and dynamic economic environment among others, thus, restricting the market growth.
- Powered Agriculture Equipment manufacturers
- Agriculture Equipment manufacturers
- Large scale to medium scale farmers
- Government organizations
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Country Analysis of Global Powered Agriculture Equipment Market Forecast to 2022
As per the MRFR analysis, the global market for powered agriculture equipment market has witnessed continued demand during the last few years and is projected to reach 2.36 million units by 2022, at a CAGR of 1.48%.
The reports also cover country level analysis:
- North America
- Rest of the World
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