What is the Compound Annual Growth Rate (CAGR) of the agriculture equipment market for next 8 years?

Demand is being driven by favourable government programmes aimed at assisting the farm sector's development. Several governments throughout the world are providing money to farmers to help them adopt sustainable Agriculture Equipment Market techniques and increase output through the use of machinery. Financial assistance to farmers, such as debt forgiveness initiatives offered by regional governments, is also helping to boost market growth.

In 2020, the COVID-19 epidemic caused governments to impose harsh lockdowns and travel restrictions. It impacted agriculture equipment OEMs' logistics and production, impacting overall sales. The imposition of tight travel restrictions exacerbated labour shortages for farm owners and made it more difficult to get qualified workers to do various duties in the fields, encouraging farmers to invest in agriculture equipment that helps them enhance productivity.

Read More @ https://cmiinfonest.blogspot.com/2022/03/what-are-growth-estimates-for_30.html

Source Link @ https://www.coherentmarketinsights.com/market-insight/agriculture-equipment-market-1453