Agricultural Equipment Market Growth Prospect and Future Scenario by Key Players 2027

Market Overview
Agricultural machinery or equipment is machinery used in agriculture and farming applications. Different types of tools and equipment are used in agricultural applications such as hand tools, power tools, tractors, and more. Moreover, equipment varies according to the type of farming, i.e. organic farming and inorganic farming. Tractors, seed drill, thresher, combine harvesters, rotavators, power weeder, mowers, rakes, and balers are some of the commonly used agricultural equipment. Technological revolution and constant research & development have introduced high-functioning equipment that performs extensive amount of work efficiently.
The global agricultural equipment market is estimated to account for US$ 110.7 Bn in terms of by the end of 2019
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Market Dynamics
The demand for agricultural equipment is expected to get attributed due to corollary agricultural activities. Furthermore, the rising usage of advanced technologies in agricultural equipment is expected to further boost the market growth over the forecast period.
In addition, rising government initiatives for increasing the income of the farmers is expected to boost the adoption of the agricultural equipment market. In this government of many major economies are offering subsidies, credit schemes for the purchasing of agricultural equipment, which will further increase the working efficiency of the farmers. For instance, according to the U.S. Department of Agriculture, the U.S. government offers farm loans for a wide range of farmer needs such as securing land, purchase equipment.
Detailed Segmentation:
Global Agricultural equipment Market, By Product Type:
Tractors
Combine Harvesters
Rotavator
Power Tillers
Seed Drill
Thresher
Power Weeder
Others
Global Agricultural equipment Market, By Region:
North America
By Product Type:
Tractors
Combine Harvesters
Rotavator
Power Tillers
Seed Drill
Thresher
Power Weeder
Others
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Key players operating in the global agricultural equipment market are AGCO Corp, Bucher Industries AG, CLAAS KGaA mbH, CNH Industrial N.V., Kubota Corporation, ISEKI & CO. LTD., Tractor and Farm Equipment Limited, SDF S.p.A., Deere & Company, EXEL Industries, and Mahindra & Mahindra Ltd.
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