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According to MRFR analysis, the global Agriculture Equipment market is expected to register a CAGR of ~5.55% from 2022 to 2030 and hold a value of over USD 324.31 Billion by 2030.
Agriculture Equipment Market Research Insights
A device, component of a device, or attachment to a device meant to be primarily utilized for agricultural purposes is referred to as agricultural equipment. The primary element fueling the expansion of the worldwide market for agriculture equipment is the rising need for agricultural production. Additionally, the market expansion is boosted by the availability of cheap finance and subsidies, particularly in the Asian market.
However, erratic weather patterns and hefty agricultural equipment prices restrain market expansion. Nevertheless, it is anticipated that the growing demand for precision farming instruments would turn into a lucrative market for farmers’ equipment suppliers working in both established and emerging nations.
Market Growth Driving Factors
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Agriculture Equipment Market Regional Analysis
The Asia-Pacific region is one of the largest markets for agricultural equipment. It is possible to attribute the rising harvesting, seed planting, irrigation, and culture operations in farm fields to the region’s increased need for agricultural tractors. Asia-Pacific has a rich supplier of fruits and vegetables, has affordable labour, and has friendly political policies in nations like India, China, Japan, and South Korea. These nations also place a lot of emphasis on agriculture, thus the demand for agricultural equipment in that industry is anticipated to be quite high.
Agriculture Equipment Market Segmentation
The Global Agriculture Equipment market has been segmented into Product Type, Function, and Sales Channel.
Based on the Product Type, the market has been segmented into Tractors, Harvesters, Cultivation, Soil Separation Equipment, and Others.
Based on the Function, the market has been segmented into Harvesting, Planting & Fertilizing, Haying, Plowing & Cultivation, and Others.
Based on the Sales Channel, the market has been segmented into OEM, Aftermarket.
Key Players
Some of the key market players are,
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 15
1.1 MARKET ATTRACTIVENESS ANALYSIS 17
1.1.1 GLOBAL AGRICULTURE EQUIPMENT MARKET, BY PRODUCT TYPE 18
1.1.2 GLOBAL AGRICULTURE EQUIPMENT MARKET, BY FUNCTION 19
1.1.3 GLOBAL AGRICULTURE EQUIPMENT MARKET, BY SALES CHANNEL 20
1.1.4 GLOBAL AGRICULTURE EQUIPMENT MARKET, BY REGION 21
2 MARKET INTRODUCTION 22
2.1 SCOPE OF THE STUDY 22
2.2 RESEARCH OBJECTIVE 22
2.3 MARKET STRUCTURE 22
2.4 KEY BUYING CRITERIA 23
3 RESEARCH METHODOLOGY 24
3.1 RESEARCH PROCESS 24
3.2 PRIMARY RESEARCH 25
3.3 SECONDARY RESEARCH 26
3.4 MARKET SIZE ESTIMATION 27
3.5 FORECAST MODEL 28
3.6 LIST OF ASSUMPTIONS & LIMITATIONS 29
4 MARKET INSIGHTS 30
5 MARKET DYNAMICS 32
5.1 INTRODUCTION 32
5.2 DRIVERS 33
5.2.1 INCREASING NEED FOR AGRICULTURAL PRODUCTIVITY 33
5.2.2 EASY CREDIT AND SUBSIDIES AVAILABILITY IN ASIAN MARKETS 33
5.2.3 DRIVERS IMPACT ANALYSIS 34
…Continued.
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