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Farm Equipment Market worth $113.0 billion by 2025 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

14 Sep, 2020, 09:30 GMT

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CHICAGO, Sept. 14, 2020 /PRNewswire/ -- According to the new market research report "Farm Equipment Market by Tractor Power Output (<30,31–70,71–130,131–250,>250HP), Drive (2WD,4WD) & Autonomous, Combines, Baler, Sprayer, implement (Plowing & Cultivating, Sowing & Planting, Harvesting & Threshing), Rental & Region - Global Forecast to 2025", published by MarketsandMarkets™, the Farm Equipment Market size is projected to reach USD 113.0 billion by 2025 from an estimated USD 92.2  billion in 2020 at a CAGR of 4.2% during the forecast period. The growth of Farm Equipment Market size is influenced by factors such as favorable government policies such as loan waivers/subsidized loans/credit finance, OEMs sales/incentive programs to dealers services and rental operations, increasing popularity of contract farming and farm mechanization. Growing popularity of precision farming is also expected to be a major factor for driving farm equipment sales in the coming years. Therefore, the Farm Equipment Market is expected to witness significant growth in the future.

Browse in-depth TOC on "Farm Equipment Market"

145 – Tables
54 – Figures
225 – Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 164005174

Four-wheel drive tractors are projected as the fastest growing tractors in drive type segment

Four-wheel drive is expected to be the fastest-growing market during the forecast period. Benefits such as better traction, reduced slippage, and suitability for rough terrain and slopes are driving the demand for four-wheel drive tractors. These tractors increase productivity and can operate with large and heavy implements such as rotavators, disc harrow, power harrow, large cultivators, loader, combine harvesters, and dozer attachments. Asia Oceania countries such as China and India are also witnessing demand for four-wheel drive tractors, where two-wheel tractors hold majority of sales.

Combines is expected to hold the largest market in farm equipment segment

Combines include harvesters used for crops such as rice, wheat, pulses, corn, and soybean. Small and mini combines are preferred for crop harvesting in Asia Oceanian, as the agricultural land is comparatively small (1–10 acres) in this region. Growing mechanization rate of the three main staple food products such as wheat, rice, and corn, and growing government support in terms of tax rebates and subsidies are expected to drive the market for combine harvesters in future. Europe is expected to be the largest market for non-cereal combines during the forecast period.  Due to the increasing demand for higher capacity machines that can handle large acres per day is expected to drive non-cereal combines in the European market as well as globally.

Request FREE Sample Report:

https://www.marketsandmarkets.com/requestsampleNew.asp?id= 164005174  

Asia Pacific region is expected to lead the farm tractor market during the forecast period

Asia Oceania is expected to lead the farm tractor market during the forecast period. Australia is expected to be the fastest growing and India is expected to be the largest market in the forecast period. 31-70 HP tractors are most popular in the region due to the suitability of these tractors with the soil and crop type such as wheat, maize, pulses etc. India is leading the 31-70 HP tractors and is expected to grow in the coming years. The increasing farm mechanization driven by government efforts and subsidies/loan waivers is expected to drive farm tractor sales in Asia Oceania. Additionally, the increasing presence of international brands such as John Deere, CLAAS, and Massey Ferguson in Asia Oceania is expected to boost the growth of the farm tractor market. Growing horticulture industry, increasing demand for high-powered tractors, new product launches and enhancements at competitive prices is also expected to drive Farm Equipment Market.

The Farm Equipment Market is dominated by globally established players such as John Deere (US), CNH Industrial (The Netherlands), AGCO (US), CLAAS (Germany), Mahindra & Mahindra (India), and Kubota (Japan).

Browse Related Reports:

Construction 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, and Region - Global Forecast to 2025

Precision Farming Market by Technology (Guidance, VRT, Remote Sensing), Application (Crop Scouting, Field Mapping, Variable Rate Application), Offering (Hardware—Sensors, GPS, Yield Monitors; Software; Services) and Geography - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/agriculture-equipment-market.asp  
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/agriculture-equipment.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg  

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