The market research report, entitled Agriculture Equipmentshows good possibilities in the Agriculture Equipmentmarket during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Agriculture EquipmentMarket Forecast:
The global Agriculture Equipmentmarket is forecasted to grow at a rate of 4.4% CAGR during the period of 2021-2026. Agriculture EquipmentMarket will be experiencing an escalation in demand attributed to the growing usage of Agriculture Equipmentin the market. The XYZ market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
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Some linchpins in the market are
BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments
Agriculture EquipmentMarket Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Agriculture Equipmentmarket segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
- AGCO Corporation
- Alamo Group Inc.
- Bucher Industries AG
- China National Machinery Industry Corporation
- CNH Industrial
- Deere & Company
- Escorts Limited
- Iseki & Co., Ltd.
- KUBOTA Corporation
- Valmont Industries, Inc.
Growth drivers and Market Value:
This report, from Stratview Research Agriculture Equipment market value and growth drivers over the trend period of 2021-26. According to the report –
Agriculture Equipment market is likely to witness a CAGR of 6.3% during the forecast period. The prime factors that are driving the agriculture equipment market are expanding global economy, growing disposable income of consumers, increasing demand for processed foods, packaged foods, and meats.
Based on by Product Type:
Based on the product type, the market is segmented as farm tractors, harvesting machinery, plowing & cultivation machinery, planting & fertilizing machinery, haying machinery, and others. The farm tractors’ segment dominated the market in 2019, and is expected to maintain its position during the forecast period, owing to its wide range of usage in agricultural activities. Farm tractors are further segmented by product type into sub-compact utility tractor, compact utility tractor, and specialty tractor. Further, based on horsepower; farm tractors are segmented into <30 HP, 30-100 HP, 101-200 HP, and >200 HP.
Based on Regional:
In terms of regions, Asia-Pacific is estimated to be the largest market for agriculture equipment during the forecast period. Significant economic development in the region, growing disposable income of consumers, and huge consumer base are the major features of the Asia-Pacific’s market. Rising demand for processed and packaged food, changing lifestyle, and surge in demand for meat products are the major factors driving the growth of the Asia-Pacific region in the agriculture equipment market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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COVID-19 IMPACT Analysis on Agriculture EquipmentMarket
Coronavirus has influenced every one of the organizations, little or large, dealing in any sector. The growth curves of XYZ market have seen immense fluctuations in the year 2021. The market scenario and the pace of growth have taken a colossal turn and have prompted numerous adjustments in the cycles, which will have repercussions for a significant stretch. 2021 is probably going to be superior to 2021 for the XYZ market players as the greater part of the organizations have continued their activities and the interest is getting reestablished for them.
Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2021 to 2026.
The assessment of the pandemic reveals an enormous transformation in both short, as well as long-term regional business. With some barriers along the road, the Agriculture Equipmentmarket stakeholders hope to regain stability in 2021, with flourishing demand and a hassle-free market environment. In terms of region, North America and Russia held the major chunk of the market in and before 2021. Despite several setbacks and the pandemic’s impact, the regions having the presence of key players, are likely to maintain their dominance in the upcoming years. According to the report, North America. region is expected to handle the crisis most efficiently, growing at the highest rate during the five-year tenure and is expected to become the next potential manufacturing hub.
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.