DUBLIN–(BUSINESS WIRE)–The “Agriculture Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global agriculture equipment market size reached US$ 156.32 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 213.71 Billion by 2027, exhibiting a CAGR of 5.35% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Agriculture equipment is used for performing various tasks in farming, such as harvesting crops, spraying fields, seeding, tilling fields, breeding cows, and feeding livestock. It comprises mowers, backhoe, harrow, cultivator, rake, tractor, combine harvester, sprayers, chain saw, brush cutters, and sawmills.
It enhances the efficiency and productivity of farming by minimizing human labor and reducing errors, physical shortcomings and wastage in agriculture. It assists in cultivating land by smoothing hillocks, filling in depressions and gullies, and removing deep-rooted weeds while preventing soil erosion. In addition, it reduces fodder area and enlarges crop area to produce food for human consumption.
At present, the growing awareness among farmers about the benefits of using agriculture equipment represents one of the key factors driving the market. Besides this, governments of several countries are promoting the usage of agriculture equipment by providing loan waiver schemes to farmers.
They are also providing funds to farmers for adopting sustainable agriculture practices and enhancing productivity using machinery, which is contributing to the growth of the market.
Moreover, the integration of technologically advanced agricultural robotics in farming, such as autonomous tractors and flying drones, to help farmers produce food at low costs is propelling the growth of the market.
In addition, the growing demand for electric tractors to reduce air pollution and greenhouse gas emissions is offering a positive market outlook. Apart from this, key market players are extensively investing in research and development (R&D) activities to introduce self-propelled machines in farming. They are also focusing on various marketing strategies to expand their customer base.
Additionally, the rising demand for enhanced machines with high-power to farm hard-to-access areas and handle a wide range of implements is bolstering the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global agriculture equipment market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on equipment type, application and sales channel.
Breakup by Equipment Type:
Breakup by Application:
Breakup by Sales Channel:
Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/tma26
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
