Agricultural or farm equipment cover a broad range of machines and tools which help the farmers to carry out various processes required to enhance the output as well as the quality of crops. Based on their characteristics, agricultural equipment can be divided into two types: farmstead equipment and field equipment. The farmstead equipment are the ones which are generally used in a stationary manner, for example the grain augers and cotton gins. The category of farm field equipment includes mobile or portable instruments, for example tractors, attachments and others. On the basis of the operations performed, agricultural equipment can be classified into seven categories; farm tractors, primary tillage machine, secondary tillage machine, sowing and planting machines, harvesting & threshing machines, crop processing machines, hay making equipment.
Trends suggest that the market growth potential lies majorly in developing regions such as China, India and Brazil. These are the potential targets for the industry due to lower market penetration, rising incomes, rising population, progressive government policies and market saturation in developed countries.
Several factors such as declining agricultural workforce, declining global arable land, increasing global grain production, coupled with continuous replacement demand from developed regions, easy credit availability in developing countries and rising population are the primary growth drivers of the market. However, fluctuating weather conditions, changing government policies and dynamic economic conditions pose a threat to market growth.
The report “Global Farm (Agricultural) Equipment Market: Industry Analysis & Outlook (2016-2020)” analyzes the development of this market, with focus on the Asia-Pacific, North America and European markets. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: Deere & Company, CNH Industrial N.V., AGCO Corporation and Alamo Group Inc. are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global farm equipment market along with the study of the regional markets.