Agriculture and Farm Equipment Market Size Estimated To Reach USD 272.1 Billion in 2026 by Polaris Market Research

Polaris Market Research

Global Agriculture and Farm Equipment market is anticipated to reach over USD 272.1 billion by 2026.

NEW YORK CITY, NEW YORK, UNITED STATES, September 5, 2018 /EINPresswire.com/ -- According to a new research published by Polaris Market Research the worldwide Agriculture and Farm Equipment market is anticipated to reach over USD 272.1 billion by 2026. In 2017, the farm tractors segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

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There has been an increasing adoption of Agriculture and Farm Equipment across the world owing to growing agricultural industry, and high-demand for food crops. The growing population, and increasing mechanization of farm operations further supports market growth. The global Agriculture and Farm Equipment market is driven by the increasing need to improve the quality of crops produced, maximizing crop production, and enhanced productivity. Other factors driving the growth of this market include growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. Integration of technologies such as automation and robotics along with support and subsidies from governments further supplement the growth of this market. However, high initial investment restricts the growth of the agriculture and farm equipment market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing population, and growing demand for high quality crops drives the growth of this market. Increasing cost of labor, and growing automation in agricultural practices further support market growth. Increasing investments and subsidies in the agriculture sector by governments are expected to boost the Agriculture and Farm Equipment market growth during the forecast period in the region. Increasing need to improve food quality and productivity along with increased industrialization of farming equipment further supplements market growth.

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Various product types of agriculture and farm equipment include planting and fertilizing equipment, farm tractors, irrigation equipment, haying equipment, harvesting equipment, plowing equipment, and others. In 2017, farm tractors accounted for the largest share in the global market. Farm tractors form an important part of farm operations such as pulling or pushing agricultural machinery, plowing, tilling, disking, harrowing, and planting among others.

The well-known companies profiled in the report include Agrocenter Ltd., CNH Industrial N.V., Amazone Ltd., Horsch Maschinen GmbH, John Deere, Kubota Corporation, Mahindra & Mahindra Limited., Morris Industries Ltd., AGCO Corporation, Agromaster, CLAAS KGaA mbH, and Escorts Group among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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About us Polaris Market Research

Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.

We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.

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