Dublin, Jan. 7, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/k2hdp3/agriculture) has announced the addition of the "Agriculture Equipment Market by Region & Propulsion; Self-propelled Equipment Market, by Type; Implements Market, by Function - Forecast to 2019" report to their offering.
The agriculture equipment market, in terms of value, is projected to grow at a CAGR of 7.20% from 2014 to 2019.
Currently, the agriculture sector is more inclined towards the use of advanced technologies to meet the increasing demand of food grains and other food products. Mechanization of farms and the use of advanced farm equipment have played a key role in enabling the industry to realize the magnitude of the demand.
Agriculture equipment has evolved under constant pressure from growing food demand, which has created immense pressure over the farmers to cultivate multiple crops, annually, with high quality and large quantity. Shortage of trained labor, combined with high wages, has forced farmers to rely on machinery for a majority of the agricultural activities. Technological advancements in machinery have further strengthened their case by furthering the advantages offered by machinery over human labor.
Today, there is a wide array of equipment, such as tractors (with different power rating), combines (that can perform number of cultivating process involved with different equipment on single machine), and implements (which are application specific), that are available to the farmer. In order to facilitate the farmers' purchase of these various types of equipment, various governments are running programs to help these farmers in the form of subsidies, discounts, and other financial aids.
Asia-Oceania and North America are projected to be the fastest-growing regional markets, while Europe and RoW are to grow at rates lower than the former two. The U.S., China, and India are projected to be the largest markets for agriculture equipment across the globe, owing to the high share of agriculture in the national economy as well as employment and the growing population in these countries.
The key players in the agriculture equipment market are Deere & Company (U.S.),CNH Global NV (U.S.), and AGCO Manufacturing Company (U.S.).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Agriculture Equipment Market, By Region
8 Global Agriculture Equipment Market, By Propulsion
9 Self-Propelled Agriculture Equipment Market
10 Implements Market
11 Competitive Landscape
12 Company Profiles
- Agco Group
- Iseki & Co. Ltd.
- John Deere (Deere & Company)
- Mahindra & Mahindra Limited (M&M)
- Same Deutz-Fahr S.P.A.
- Yanmar Co., Ltd.
For more information visit http://www.researchandmarkets.com/research/k2hdp3/agriculture
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Source:Research and Markets