Farm equipment or agriculture machinery aids the agricultural workers to manage yield, time and cost of farming practices. The market hosts a wide variety of machinery that differs in mechanism, performance, usage and price. Farm equipment market report provides detailed analysis on the industry by type, by farming phase and by region. Major products in the market include tractors, tillage equipment, planting equipment, and harvesting equipment and so on, used at different phases of crop production.
Farm mechanization has gained importance in the recent years with growing population and food requirements. The global market for farm equipment has witnessed a drastic change in product ...view middle of the document...
Sub-Saharan region still remains as under-mechanized, where most of the farming practices are carried out manually.
Segment Wise Approach:
Major end-user segments of farm machinery include farmers, land contractors and private service contractors. Due to the growth of corporate farming in the developing countries, private service contractors have become one of the key target segments for the farm equipment manufacturers. In order to attain high crop yield with same or less inputs, farmers in the developed nations are adapting precision farming practices which will hold huge growth prospects in the coming years. Paradigm shift has been observed in the farming practices, thereby resulting in the emergence of precision and no-till operations. Farm implements are noted to be one of the top major selling agricultural machinery, according to the latest farm equipment market study!
REPORT SCOPE: Market Segmentation:
The Farm Equipment Market is segmented broadly into three types based on factors like Type, Phase and Geography.
Key Market Players:
Deere & Company (U.S.), AGCO Corporation (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan) and Mahindra & Mahindra (India) are the dominant players in the industry. These players account for a major market share owing mainly to the wide product portfolio. These players are strengthening their global presence by key acquisitions and manufacturing of farm equipment according to the local needs that provides them a competitive edge over the other players in the market.
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