August 1, 2021
Farm Equipment

Farm Equipment Market Share, Growth, Analysis

Global Farm Equipment Market

According to Planet Market Reports, Global Farm Equipment Market was valued at USD 99.42 Billion in 2018 and is projected to reach USD 135.07 Billion by 2026, growing at a CAGR of 3.92 % from 2019 to 2026.

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What is Farm Equipment?

Farm Equipment can be defined as equipment that are employed in the agro sector that eases the agriculture task or help with farming. The farm equipment can be used for pulling or pushing agricultural machinery or trailers, for ploughing, tilling, disking, harrowing, planting, and similar tasks.
Global Farm Equipment Market Outlook
Problem of lack of agricultural labour, rising labour costs and subsidy by government for agriculture industry are the factor driving the market growth. Huge drop has been witnessed in number of farm labourers in the past two decades. Migration from rural to urban areas due to reduced incomes in agriculture is the major reasons for shortage of labour. With use of the machine, it is hoped to reduce costs and increase profits as it is a solution to depleting agricultural workforce.

Global Farm Equipment Market Competitive Landscape

The “Global Farm Equipment Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as ARGO SpA, AGCO Corp., Foton Lovol International Heavy Industries Company Ltd., Kuhn Group, Kubota Tractor Corp, Mahindra & Mahindra Ltd., Landini, Netafim Limited, Valmont Industries Incorporated and Alamo Group Incorporated. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

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