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New York, December 6, 2021 (Global News Agency)- Overview of the agricultural equipment market: According to the comprehensive research report of the Market Research Future (MRFR), “Agricultural equipment market Research report: by product type (tractors, harvesters, farming and soil separation equipment, etc.), functions (harvesting, planting and fertilizing, hay, plowing, etc.), sales channels (OEM and aftermarket) and regions (North America, Europe, Asia-Pacific and the rest of the world)-forecast to 2030
Market Research Review of the Agricultural Equipment Market in the Future
By 2030, the agricultural equipment market is expected to be worth US$189.42 billion, with a compound annual growth rate of 8.53% during the forecast period (2022 to 2030), and the market value in 2021 is US$103.61 billion.
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Key person; main force; important member
The well-known industry players introduced in the global agricultural equipment market report include
- AGCO Corp. (United States)
- JC Bamford Excavator Ltd (UK)
- Deere Company (United States)
- CNH Industrial NV (UK)
- Kubota Corporation (Japan)
- Iseki co., ltd.
- Co., Ltd. (Japan)
- Dadong Industrial
- Limited company (United States)
- Mahindra & Mahindra Limited (India)
- Escort Limited (India)
- in.
COVID-19 analysis
Before the outbreak of COVID-19, the agricultural equipment market was in good condition. However, after the crisis, the agricultural equipment industry is facing several problems with the interruption of the global supply chain. According to government regulations, the manufacturing industry has been closed to prevent the spread of the virus, so the agricultural machinery market has slowed down. The pandemic has not only affected agricultural machinery, but also various industries such as construction, semiconductors and electronics, healthcare, and automobiles. In 2020, tractors account for more than 50% of the global market share. Gradually, as the epidemic situation changes, all walks of life have resumed work. The growing population requires additional food production and different agricultural equipment to drive market demand.
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Browse in-depth market research reports (188 pages) Agricultural equipment
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