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Automotive and TransportThe global Agricultural Equipment Market was estimated at $124.2 billion in 2015.
New agricultural equipment is replacing the traditional tools owing to improved productivity and enhanced quality of the crop.The need of food is growing at a faster rate as the population is increasing, so the demand for new agricultural equipment is growing to match the requirement of food.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/agriculture-farm-equipment-marketInnovative technologies in the agriculture are increasing the quality & production per square feet for the agricultural products.
Manufacturers are focusing on integrating various new technologies such as robotic systems, Google Earth and GPS into existing machinery for tracking productivity and improving it.
The government also encourages the use of farming equipment by proving subsidies and offering lower rates to the farmers in emerging countries like India and China to adopt agricultural equipment.Equipment MarketOn the basis of Product: Tractors dominate the product category and is estimated to account over 20% of total revenue in 2015 after harvesters.
Tractors are the most efficient and effective equipment in the agricultural sector as they can perform several activities in the process of farming.
Harvesters are expected to grow at a CAGR of 5% through 2014-25.Other product segment includes thrasher, combine harvester, rotavator, Zero Till Seed Drill, Power Tiller, Multi Crop Planter, Drip Irrigation, Sprinkler Irrigation, Power Weeder, Power Spray.On The basis of Application: The products are divided as per the processes in farming such as Sowing & Planting Equipment, Land Development/Seed Bed Preparation/Tillage Equipment, Plant Protection Equipment, Water Inter Cultivation equipment, Agro Processing and Harvesting & Threshing.Threshing and Harvesting expect the fast growth of a CAGR over 6% through the forecast period.
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Agriculture & Farm Equipment Market was estimated at $124.2 billion in 2015.
Agricultural equipment or machinery are the tools used in various processes of farming, such as planting, threshing, agriculture product processing, harvesting.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/agriculture-farm-equipment-market/request-sample The key driving factors responsible for the growth of Agriculture & Farm Equipment market : Innovative technologies in the agriculture are increasing the quality & production per square feet for the agricultural products.
Manufacturers are focusing on integrating various new technologies such as robotic systems, Google Earth and GPS into existing machinery for tracking productivity and improving it.
The government also encourages the use of farming equipment by proving subsidies and offering lower rates to the farmers in emerging countries like India and China to adopt agricultural equipment.
Tractors are the most efficient and effective equipment in the agricultural sector as they can perform several activities in the process of farming.
