The global Farm Equipment market size is expected to reach USD 211.13 billion by 2026 according to a new study by WhipSmart Market Intelligence Research. The report “Farm Equipment Market by Type (Excavator – Crawler and Mini, Loader – Backhoe, Skid-steer, Wheeled and Other Equipment), Category, Emission Regulation, Aftertreatment Device, Power Output, Application, Rental Equipment, By Regions, Segments & Forecast, 2019 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The report covers the COVID-19 impact on the Farm Equipment Market. The COVID-19 Impact analysis will help you to understand the future market growth in the Farm Equipment Market.
Adoption of recent technologies by farmers to extend farm yield and meet the soaring demand for food is predicted to be a key factor driving the market. Traditional farming techniques like plows, tillage, and seeders are now being replaced with various modern agricultural machinery. Advanced farming machinery like spraying equipment, hay and forage equipment, harvesters, and irrigation and crop processing equipment are getting used in various processes to boost overall crop output and quality.
Farm equipment are essential tools for farming practices. The agricultural sector is witnessing a change its practices from traditional farming to modern farming, which has modern machinery. This equipment are essential tools that increase yield and improve the upkeep of soil and have easy approach in farming. Rise in agricultural practices for simple agro practices and to extend the productivity of crop enhances the demand for the farm equipment market during this forecast period.
Asia Pacific is estimated to be the most important and fastest growing marketplace for agricultural equipment. China and India hold a dominant position during this market because of rising population, small arable land per farmer, and falling crop prices. With increased government support and incentives, farmers have increased the usage of recent agricultural equipment and practices. Despite the slowdown within the global farm tractors market.
The key players in the market John Deere, AGCO, Mahindra & Mahindra, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota among others. Development of distribution channels, novel product development and aggressive marketing campaigning are some of the success factors in the industry.
WhipSmart Market Intelligence Market research has segmented the Farm Equipment market report on the basis of power output, drive type, equipment types and region
Farm Equipment Power Output Outlook (Revenue, USD Million, 2019 – 2026)
- Less than 30 hp
- 31 – 70 hp
- 71 – 130 hp
- 131 – 250 hp
- More than 250 hp;
Farm Equipment Drive Type Outlook (Revenue, USD Million, 2019 – 2026)
- Two-wheel drive
- Four-wheel drive
Farm Equipment Type Outlook (Revenue, USD Million, 2019 – 2026)
- Combines for cereal crops
- Combines for non-cereal crops
Farm Equipment Regional Outlook (Revenue, USD Million, 2019 – 2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
Mr. Ray Schafer
Phone: +1 512-560-9140