Agriculture Equipment Market growth drivers in 2018 & Challenges by 2026

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Agriculture Equipment Market Growth Outlook with
Industry Review and Forecasts 2020-2026

• Urbanization trends, exponential rise in
  population and the associated demand for food is
  likely to drive agriculture equipment market
  outlook. With increasing disposable income of the
  populace, demand for high-quality food products
  is also rising. The governments across the globe
  are also undertaking favorable initiatives to
  increase their respective agriculture sector
  output.
• In a bid to increase crop yields, farmers are
  increasingly deploying tillers and cultivators to
  facilitate the enhanced prepping of soil for
  planting seeds. Utilization of these machines
  also allows the removal of weed with ease. The
  increasing mechanization of farming activities to
  boost throughput and reduce the need for human
  labor will positively impact the development of
  advanced equipment. Globally, agriculture
  equipment market size is expected to hit the USD
  230 billion mark by 2026.

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• Self-propelled sprayers and spreaders ensure
  faster operations and cover more area per day.
  The machines provide uniform distribution of
  nutrients and protectants and to improve crop
  yields at lesser costs. Planting and fertilizing
  equipment segment is forecast to register a CAGR
  of rate of 6 over the projected timeframe on
  account of several product advantages over manual
  fertilizing and planting techniques.

• Mower conditioners offer easy movement quickly
  and mow cleanly to accelerate forage and hay
  making. They are generally built with durable
  parts that can withstand rough conditions in
  daily usage. Haying machinery industry size is
  likely to grow at 2 through 2026 on account of
  increasing demand for mower conditioners for
  farming application.

• In the United States, in most of the large farms,
  harvesting tools, haying tools and tractors are
  integral to the working environment. Farmers in
  the U.S are at the forefront of deploying
  advanced tools to boost crop yield. They are also
  adopting combine harvesters, drills, specialty
  tractors and spreaders to cater to the growing
  consumer demand for food.

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• Regional Analysis

• The new machinery are now equipped with GPS
  tracking systems and other telematics to collect
  data on climate, temperature, and even speed of
  the tractor. North America agriculture equipment
  market share is set to surpass USD 45 billion by
  2026 on account of increasing adoption of
  advanced technology and products in the regional
  farming sector.

• Competitive Analysis

• The agriculture equipment industry is slightly
  fragmented owing to the presence of a large
  number of global and regional level players. Some
  of the key players are AGCO Corporation, CNH
  Industrial N.V., Deere Company, among others.
  These players are competing with national and
  international full-line supply chains as well as
  with various specialty manufacturers boasting
  different manufacturing and marketing techniques.

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