Farm Equipment Market By Type (Tractors, Fertilizing, Plant protection Equipment, Harvesting Equipment , Irrigation Equipment, Others); By Phase (Land Development, Sowing, Planting, Cultivation, Harvesting, Threshing, Others)-Forecast (2015-2020)
Farm equipment, also referred as agricultural equipment, "encompasses machineries" that are used for the production of crops and agricultural livestock. Global farm equipment market hosts a wide variety of machineries that cater to the needs of agricultural workers of different regions. Farm equipment market report provides a detailed analysis on the industry by type, by farming phase and by region.
Farm Equipment Market
Major products in the market include:
Tractors Tillage equipment Planting equipment Harvesting equipment and so on
Farm mechanization gained its importance in the recent years with growing population and growing food requirements. The global market for farm equipment has witnessed a drastic change in product offerings due to the intensification of farms and large-scale farming practices. Tractors account for the maximum share in this market with China and India as the dominant markets in terms of volumes. Global farm equipment market is estimated to reach $198.4 billion by 2020 at a CAGR of 5.7% during 2015-2020. Increasing government support in the form of subsidies for the purchase of farm machinery and supportive market prices for crops are the major drivers of the market.
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