global market for powered agriculture equipment market is projected to reach 2.36 million units by 2022, at a CAGR of 1.48%.
PUNE, INDIA, January 4, 2017 /EINPresswire.com/ — The need for powered agriculture equipment is gradually rising due to constraining factors such as rising global population, growing labor shortage and rural wages. Increasing mechanization in agriculture provides a solution for the same and also offers the scope for maximizing production as well as productivity. Rising farm income is the major factor instigating end users to increasingly adopt these equipment. Powered 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 mentioned agriculture equipment have been tracked. Tractor sales for the year 2012 was 1.77 million units, which increased by 15% in 2013. However, the sales volume is predicted to increase and reach 2.286 million units by 2022. Sprayers’ sale was 14,725 units in 2012, and is expected to reach 16,920 units by 2022.
The key market players are AGCO Corporation, Alamo Group, Claas Group, CNH Industrial NV, Deere & Company, Escorts Group, ISEKI & Company Limited, Kubota Corporation, Mahindra & Mahindra (M&M), and Same Deutz-FAHR Group S.P.A. These companies rely on product development, and mergers & acquisitions to expand their market and curb the inflow of new entrants into the market. The expected growth rate between 2016 and 2022 of the market would remain less than 5% because of restraining factors such as high cost of equipment, fluctuating weather conditions, altering government policies, and dynamic economic environment.
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)and Same Deutz-FAHR Group S.P.A..
Study Objectives of Powered Agriculture Equipment Forecast to 2022
• To provide driving factors for the powered agriculture equipment market through 2015 to 2022
• To provide the major factors that need to be addressed for wide scale adoption of powered agriculture equipment through the forecast years
• To understand the supply and demand dynamics
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• Analysis of historical market trends, and technologies, and current government regulatory requirements
• Powered Agriculture Equipment manufacturers
• Agriculture Equipment manufacturers
• Medium to large-scale farmers
• Government organizations
• Asia-Pacific leads the market for powered agricultural equipment in 2015, contributing a total of 0.58 million units sale
• India, followed by China, led the market for tractors within the Asia-Pacific market
• Global tractor sales is estimated to be 2.04 million units in 2016, and is projected to reach 2.286 million units by 2022
Country Analysis of Global Powered Agriculture Equipment Market Forecast to 2022 Market
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%. Asia-Pacific region held the largest share within the powered agriculture equipment market in 2015, as compared to other regions.
The reports also cover country level analysis for the regions:
• North America
• Rest of the World
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Source: EIN Presswire