Global Agriculture Equipment Market Outlook to 2027

Global Agriculture Equipment Market Outlook to 2027

The report provides a comprehensive analysis of the potential of the agriculture equipment market in the world. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

The Global agriculture equipment market segmentations include Product, Application and Geography; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the global agriculture equipment market is forecasted to grow at a robust CAGR in the period of 2022-2027, owing to increasing population throughout the globe, increasing mechanization in the agriculture sector coupled with the surge in farmers’ income.
The Asia Pacific region is expected to hold a significant global agricultural equipment market share during the forecast period. Due to the region's dependence on agriculture for a sizable portion of its economies.
The increasing welfare programs by the government in the agriculture sector shows a significant role in the equipment market.

Key Trends by Market Segment:

By Product Insights: The tractor segment accounted for the largest revenue share of 2021, attributed to the labour shortage and the growing population to meet the global food requirements, which has made tractors a prerequisite for increasing productivity in the agriculture industry.

By Application: The land development and seedbed preparation segment accounted for the most of the revenue share in 2021 and is expected to expand at a significant CAGR during the forecast period.

Future Outlook

Global Agriculture Equipment Market is projected to show significant growth in the forecasted period of 2022-2027, with rising awareness about equipment benefits and various favourable government policies altogether.

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