Agricultural Machinery Market 2021 Trends and Future Scope Till 2025

REPORT HIGHLIGHT

The Agricultural Machinery Market is estimated to represent a global market of USD 73.8 billion by 2017 with growth rate of 8.2%.

Market Taxonomy

Agricultural Machinery industry covers market estimation for tractors (such as compact utility tractors, row crop tractors, and utility tractors), combine harvester- threshers and forage harvesters.

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Market Dynamics

The industry is expected to experience strong pull-through of demand from end-users owing to the high degree of farm mechanization. Additionally, favourable government initiatives for the development of agricultural industry coupled with advancement in technologies further boost the growth of this market significantly.

Product Takeaway

Tractors <50 HP, Tractors >50 HP and Combine harvesters are categorized under product segmentation. Tractors <50 HP product accounted for more than 55% share compared to other product types. Tractors find applications in a variety of farming, whereas use of combine harvesters are restricted to farming for growing field crops such as wheat.

Regional Takeaway

Regionally, North America captured the largest share of the global market. This region has captured more than 30% share throughout the review period. Increasing product demand coupled with growing number of domiciled key players has helped this region to capture significant revenue share. On contrary, the Asia Pacific, especially India and China account for the fastest growing countries in the global market. In 2017, these countries have captured more than 70% share of the overall Asia Pacific agricultural machinery industry as both countries are active in the process of mechanizing their agricultural sectors. Additionally, there are large numbers of small-scale farms in these countries which develop long-term trend for farm consolidation.

Key Vedor Takeaway

The agricultural sector is fragmented in nature, with no one player accounting for significant revenue share. Product differentiation is moderate in this industry. Manufacturers usually offer a wide range of products, such as tractors of different power ratings. Moreover, after-sales service-based competition is considered to be an important differentiator in this industry.

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Key players such as CNH Industrial N.V., Mahindra & Mahindra Limited, Deere & Company, and AGCO Corporation are extensively profiled based on attributes such as company information, financial highlight, and key developments. Established companies are actively engaged in expanding their distribution network through strategic mergers and acquisitions. For instance, in 2014, Deere & Company offered agricultural equipment through a network of 1,539 independent dealers in the US and Canada alone.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025


TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies and Research Organizations

Consultants

Distributors


SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:


MARKET, BY PRODUCT

Tractors <50 HP

Tractors >50 HP

Combine Harvesters


MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America


About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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