Agriculture Equipment Market 2021 Report On 2021 Industry Share, Top Players Analysis, Size, Demand, Growth Strategy, Trends, Supply, Revenue and 2030 Forecast Research

In a recent published report, Kenneth Research has updated the market report for Agriculture Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Agriculture Equipment Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

Global Agriculture Equipment Market is estimated to reach $265.9 Billion by 2024; growing at a CAGR of 5.6% from 2016 to 2024. Agriculture equipment such as tractors, harvesters, irrigation equipment, agriculture spraying equipment, and cultivation equipment among others are used to make the cultivation and production process faster and efficient. It increases land productivity and also offer quick harvesting. These equipment’s have gained wide popularity in developing economies due to rapidly growing population which has increased the demand for food, resulting in adoption of technologically advanced agriculture equipment. to increase land productivity. National Horticulture Mission and other support schemes provided by the government and Department of Agriculture and Cooperation show an increased trend for agriculture equipment. Rise in population, economic stability, and adoption of advanced farming technique are the major factors supplementing the growth of global agriculture equipment market. However, lack of proper knowledge about effective agricultural equipment among farmers would act as a restraint for the market. Several schemes provided by the government in order to increase agricultural productivity would provide attractive business opportunities for the market in the coming years.

The global agriculture equipment market is bifurcated on the basis of product type and geography. By product type, the market is categorized into harvesters, tractors, soil preparation & cultivation equipment, irrigation & crop processing equipment, hay and forage equipment, agriculture spraying equipment, and others. The tractors segment accounted for the largest market share in 2016, driven by its extensive usage in cultivation, to make the soil fertile and suitable to increase productivity. The harvesters segment is expected to grow at the fastest CAGR during the forecast period, owing to rising population and increasing demand for food which may led to adoption of technically advanced harvesters. Geographically the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Based on geography, the global agriculture equipment market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.

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Major companies operating in the agriculture equipment market are Mahindra Group, AGCO Corporation, Concern Tractor Plants, Escorts Limited, Valmont Industries Incorporated., Weifang Euroking Machinery, Deere & Company, Agrostroj Pelhrimov A.s, Same Deutz-Fahr Group, and China National Machinery Industry Corporation, among others.

The key takeaways from the report:
The report will provide detailed analysis of Agriculture Equipment Market with respect to major segments such as product type, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities of the global Agriculture Equipment Market. An exhaustive regional analysis of Agriculture Equipment Market from 2015 to 2024 has been included in the report

Profile of the key players in the Agriculture Equipment Market, will be provided, which include key financials, product & services, new developments and business strategies.

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Scope of Agriculture Equipment Market
Product Type Segments
Harvesters
Tractors
Soil preparation & cultivation equipment
Irrigation & crop processing equipment
Hay and forage equipment
Agriculture spraying equipment
Others

Geographical Segments
North America
US
Canada
Mexico
Europe
UK
France
Germany
Others

Asia-Pacific
China
India
Japan
Others
RoW
South America
Middle East
Africa

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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