Furthermore, the use of automatic and semiautomatic agriculture equipment decreases the need for human work on farms, lowering the expenses associated with labour. This enhances crop productivity even further by eliminating downtimes and allowing for more precise operations.
Agriculture Equipment Market size was valued at US$ 117.97 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 6.0% through 2022 to 2029, reaching nearly US$ 188.03 Bn.
Agriculture Equipment Market overview:
The Agriculture Equipment market's competitive landscape comprises information about rivals. A firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination are among the topics covered. The following information is only relevant to the organization's focus on the Agriculture Equipment market.
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Agriculture Equipment Market scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Segmentation:
Based on the Product, the market is segmented into Tractors, Combine Harvesters, Rotavators, Power Tillers, Seed Drill, Thresher, Power Weeder, and Others. Tractors segment is expected to hold the largest market shares of xx% by 2029. This is due to an increase in the use of tractors in small, medium, and large farms.
Agricultural machinery encompasses a wide range of equipment and tools, which are used in numerous farming processes to enhance crop quality and expand output. In developing countries across the globe, governments offer widespread support to farmers to purchase agricultural equipment to work more proficiently.
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Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Agriculture Equipment market-
- AGCO Corporation
• Agrostroj Pelhrimov A.s
• China National Machinery Industry Corporation
• Concern Tractor Plants
• Deere & Company
• J.C Bamford Excavators limited
• Escorts Limited, Mahindra Group
• Same Deutz-Fahr Group
• JCB Limited
• Foton Lovol International Heavy Industries Company Ltd
• Valmont Industries Incorporated
• Weifang Euroking Machinery
• Agro Tractors S.p.A.
• SDF Group
• The Toro Company
• Kubota Corporation
• CLAAS KGaA mbH
• Mahindra & Mahindra Ltd.
Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter's five forces analysis, and case studies.
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COVID-19 Impact Analysis on Agriculture Equipment Market: Furthermore, the research assesses the impact of COVID-19 on the Agriculture Equipment market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Agriculture Equipment Market. The report focuses on market share and size, clearly demonstrating the pandemic's influence on the worldwide Agriculture Equipment Market in the next years.
Key Questions Answered in the Agriculture Equipment Market Report are:
- What will be the Agriculture Equipment market's CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Agriculture Equipment industry?
- Who are the key players in the Agriculture Equipment market?
- What important trends in the Agriculture Equipment industry are anticipated to develop throughout the forecast period?
- How big will the Agriculture Equipment market be in 2027?
- In 2020, which business segment had the highest proportion of the Agriculture Equipment market?
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