Stratview Research has launched a new report, titled Agriculture Equipment Market segmented by Product Type (Farm Tractor {by Product [Sub-compact Utility Tractor, Compact Utility Tractor, and Specialty Tractor], by Horse Power [ 30 HP, 30-100 HP, 101-200 HP, and 200 HP]}, Harvesting Machinery {Combine Harvester, Forage Harvester, Thresher, and Reaper}, Plowing Cultivation Machinery {Ploughs, Harrows, and Cultivators Tillers}, Planting Fertilizing Machinery {Seed Drills, Planters, Spreaders, and Sprayers}, Haying Machinery {Balers, Mowers-Conditioners, and Tedders Rakes} and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, Agriculture Equipment Market is likely to witness a CAGR of 6.3% during the forecast period. The prime factors that are driving the agriculture equipment market are expanding global economy, growing disposable income of consumers, increasing demand for processed foods, packaged foods, and meats.

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Market Segments' Analysis

Based on the product type, the market is segmented as farm tractors, harvesting machinery, plowing cultivation machinery, planting fertilizing machinery, haying machinery, and others. The farm tractors’ segment dominated the market in 2019, and is expected to maintain its position during the forecast period, owing to its wide range of usage in agricultural activities. Farm tractors are further segmented by product type into sub-compact utility tractor, compact utility tractor, and specialty tractor. Further, based on horsepower; farm tractors are segmented into 30 HP, 30-100 HP, 101-200 HP, and 200 HP.

In terms of regions, Asia-Pacific is estimated to be the largest market for agriculture equipment during the forecast period. Significant economic development in the region, growing disposable income of consumers, and huge consumer base are the major features of the Asia-Pacific’s market. Rising demand for processed and packaged food, changing lifestyle, and surge in demand for meat products are the major factors driving the growth of the Asia-Pacific region in the agriculture equipment market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Key Players

The following are the key players in the Agriculture Equipment Market.

• AGCO Corporation,
• Alamo Group Inc.,
• Amazonen-Werke H. Dreyer GmbH Company KG,
• ARGO SpA,
• Bucher Industries AG,
• Changzhou Dongfeng Agricultural Machinery Group Company Limited,
• China National Machinery Industry Corporation,
• CLAAS KGaA mbH,
• CNH Industrial NV,
• Deere Company,
• Escorts Limited,
• Iseki Co. Ltd.,
• J C Bamford Excavators Ltd. (JCB),
• Kubota Corporation,
• Mahindra Mahindra Limited,
• Same Deutz-Fahr Group S.p.A. (SDF),
• Valmont Industries, Inc.,
• Yanmar Co. Ltd.,
• Zetor Tractors A.S.

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

• What is the current and future market size of Agriculture Equipment Market?
• How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
• What will be the short and long-term effects of the pandemic?
• How are other market factors affecting the market dynamics?
• Which segments offer high-growth opportunities in the long run?
• How fierce is the Agriculture Equipment Market competition?
• What are the key emerging trends and unmet needs in the present market?
• What are the strategic growth opportunities and key success factors?

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