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Rage of Agricultural and Farming Equipment in Global Agriculture Industry: Ken Research

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Farming equipment industry of North America is witnessing massive growth and development. Demand for harvesters reached new records after 2013. – PowerPoint PPT presentation

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Title: Rage of Agricultural and Farming Equipment in Global Agriculture Industry: Ken Research


1
Rage of Agricultural and Farming Equipment in
Global Agriculture Industry Ken Research
2
Advancement of technology in the agricultural
sector led to mind boggling incursion of
agricultural equipment in the global agriculture
industry providing stepping stones for remarkable
modernization and commercialization of the
agricultural sector. Both developed and
developing world witnessed this trend of using
agricultural equipment in farming and
agricultural sector. Traditional farming
techniques are now becoming obsolete and global
market is flooded with electricity driven
agricultural machinery including tractors,
threshers, plough, harrow, sprayer, harvester,
sprinklers, diggers, harrow, etc. According to UN
comptrade data global trade of agricultural
equipment was worth whooping USD 58 billion in
2013. Further according to the data, sector was
growing at the rate of 7.3 in 2004-13.
3
Further, oil seeds and grain farming equipment
was prime segment of the global agricultural
equipment industry. Considering developing
economies of the world, Canada, Australia,
Germany, France, United Kingdom, Netherlands are
biggest markets for agricultural equipment.
Growth of agricultural equipment industry in
developing countries like Mexico, Brazil and
China is also significant. Major global
agricultural equipment companies include AGCO
Corporation, MTD PRODUCTS AG, Alamo Group, CLAAS,
etc. Considering European economy farming
machinery market is extremely vigorous and
strong. In the west tractors and farm harvesters
has maximum share in the industry. Agriculture is
proliferating in Germany, France and UK which is
significantly contributing to maximum growth in
the equipment industry. Further, positive
sentiments are associated to growth in
agricultural equipment market in central and
Eastern Europe.
4
Farming equipment industry of North America is
witnessing massive growth and development. Demand
for harvesters reached new records after 2013.
However, demand for tractors has risen meagerly
in North American region. However, pessimism is
associated to South American market due to low
income growth, poor economic stability and low
rainfall rates. Mexico and Brazil are performing
outstandingly in the South American region.
Asian agricultural equipment market has
witnessed remarkable growth relative to the
global industry. India and China emerged as
prime markets for agricultural equipment in Asia.
Both the economies are aiming at substantial
mechanization and modernization of agriculture
which has resulted in massive growth in the
sector. However, monsoon failure in India to an
extent has constrained the sales of harvesters
but tractor sales are still sky high Indian
economy.
5
African agricultural equipment industry growth is
rather weak and dismal attributing to immense
poverty and less reliance on agricultural
industry. African economy still does not have
well developed market for agricultural equipment.
Considering Australian economy, it is one of
the largest market for agricultural equipment in
the world. It is one of the leading importer of
farming machinery from The US. Commercialization
of agriculture, high income and greater
mechanization has resulted in superbdemand for
agricultural equipment in Australia. Sales of
tractors is enormous in the continent. Thus,
global economy is witnessing splendid growth in
the agricultural equipment sector. Remarkable
sales, new launches, better agricultural income
are the prime reasons which are going to generate
further sales in the industry. Asian economy is
expected to drive greater growth in the sector.
6
For more information on the Publication, refer to
below Link https//www.kenresearch.com/agricultu
re-and-animal-care/agriculture-equipment/SC-104-19
.html Contact UsKen ResearchAnkur Gupta, Head
Marketing CommunicationsAnkur_at_kenresearch.com
91-9015378249
7
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