Market Synopsis
As per the research by Market Research Future Reports (MRFR), the global powered agriculture equipment market is projected to value USD 99.89 Billion with a CAGR of 5.43% during the forecast period. The latest technologies and the innovation in agricultural equipment is the major factor driving the global powered agriculture equipment market 2020. The increasing disposable income, implementation of advanced technology in the agricultural equipment are giving the major growth opportunities to the market players. Besides, increasing demand for the equipped tractors, rapidly growing online and offline food service centers, rising sales and production of farm equipment, and subsidies on agricultural equipment are some of the significant factors affecting the global market.
Due to the unforeseen outbreak of the pandemic Coronavirus, there has been a significant change in market dynamics. Various regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.
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Market Segmentation
The global powered agriculture equipment market can be classified on the basis of function, productive type, sales channel, and region.
On the basis of function, the global powered agriculture equipment market can be classified into harvesting, planting & fertilizing, haying, plowing & cultivation, and others.
On the basis of product type, the global powered agriculture equipment market can be classified into the tractor, harvester, cultivation & soil separation equipment, and others.
On the basis of the sales channel, the global powered agriculture equipment market can be classified into aftermarket and OEM.
On the basis of region, the global powered agriculture equipment market can be classified into Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
Key Players
The forefront players of the global powered agricultural equipment market are
The forefront players of the global agriculture equipment market are SDF S.P.A. (Italy), John Deere & Co. (U.S.), AGCO Corporation (U.S.), Mahindra & Mahindra Ltd (India), Kubota Corporation (Japan), CNH Industrial (U.K), CLAAS Group (Germany), Escorts Group (India), Alamo Group Inc. (U.S.), Iseki & Co. Ltd (Japan), and others.
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