LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global farm equipment market and the market is poised to grow by USD 28.6 billion during 2020-2024 at a CAGR of almost 5% during the forecast period. Request Free Sample Pages
Read the 148-page research report with TOC on "Farm Equipment Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by Product (Implement, Combines, Sprayer, and Baler), and Segment Forecasts, 2020-2024."
The market is driven by the increasing global population and the corresponding increase in the demand for food. Also, the availability of farm equipment through rentals is anticipated to boost the growth of the farm equipment market further.
The agricultural sector is focusing on increasing agricultural output and food production to keep up with the rising food demand. Thus, increased global population and growing demand for food is expected to drive market growth during the forecast period.
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Major Five Farm Equipment Market Companies:
AGCO Corp.
AGCO Corp. is headquartered in the US and operates the business under various segments such as tractors, replacement parts, grain storage and protein production systems, combines, application equipment, and other machinery. The company offers a wide range of tractors, combine harvesters, balers and implements.
BROHAWK EXPORTS
BROHAWK EXPORTS is headquartered in India and offers products through the following business units: Agricultural Machinery Parts, Agricultural Machinery, Tractor and Trailer Parts, and Ball Mount. The company provides a wide range of tillers and farm implements.
Bucher Industries AG
Bucher Industries AG is headquartered in Switzerland and operates under various business segments, namely Kuhn Group, Bucher Municipal, Bucher Hydraulics, Bucher Emhart Glass, and Bucher Specials. The company offers a range of tillers and plows under the brand name, Kuhn.
CLAAS KGaA mbH
CLAAS KGaA mbH is headquartered in Germany and offers products through the following business segments: Combines, Forage harvesters, Telehandlers, Balers, Forage harvesting machinery, and Transplanter. The company provides a range of combines, forage harvesters, forage harvesting machinery, and balers.
CNH Industrial NV
CNH Industrial NV is headquartered in the UK and offers products through the following business segments: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company provides a range of tractors, combines, and agricultural implements.
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Farm Equipment Product Outlook (Revenue, USD Million, 2020-2024)
- Implement
- Combines
- Sprayer
- Baler
Farm Equipment Regional Outlook (Revenue, USD Million, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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