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Global Agricultural Equipment Market to Surge at a CAGR Of 2.8% between 2016 and 2024.

Press release Description

Albany, New York, May 12, 2017: With rising global population, it is quite sure that the increasing need for food will spur the demand for agricultural products, which will in-turn increase the demand for agricultural equipment such as tractors. Considering this fact, Market Research Reports Search Engine (MRRSE) has recently broadcasted the addition of a new research report to its vast online offerings. The report discusses the global agricultural equipment market and is titled “Agricultural Equipment Market: Global Industry Analysis and Forecast 2016-2024”. This research study is an in-depth analysis about the present scenario and the future prospects of the global agricultural equipment market for 2016-2024. It presents a comprehensive overview of the market by way of study, synthesis, and summation of information from multiple trustworthy sources.

The report predicts that the global agricultural equipment market will expand at a CAGR of 2.8% between 2016 and 2024. The drivers responsible for this growth are the shifting of agricultural activities from animal or manual labor to automated methods. Besides this, factors like rising urbanization and government initiatives are shifting the focus of farmers towards mechanization and increasing their investment capacity. This report on global agricultural equipment market offers a 360-degree view of the market and its key segments and sub-segments. Market dynamics, such as drivers, restraints, challenges and key trends impacting the market’s trajectory have been analyzed in detail within the report. The market study on agricultural equipment has been compiled with the help of different research methodologies and assumptions to cater the specific needs of businesses across the globe.

Furthermore, the report includes an in-depth market share analysis, year-on-year growth and market attractiveness study of key segments divided on the basis of product-type and geographical region. Segmentation on the basis of product type include tractors, combine harvesters, thresher, power tillers, rotavators, seed drill, power weeder and others. Among these segments, the tractors segment is expected to offer lucrative growth opportunities of more than US$ 20 billion between 2016 and 2024. This segment is estimated to grow at a CAGR of 3.4% and reach a market value of US$ 100 billion by 2024. Geographically, the major regions studied in the report are North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Among these regions, Middle East and Africa is anticipated to witness high CAGR for the period 2015 to 2024, followed by Asia Pacific and Latin America.

Browse Full Global Agricultural Equipment Market Report with TOC :

Some of the leading vendors profiled in the report are AGCO Corp, Kubota Corporation, Tractor and Farm Equipment Limited, Deere & Company, Mahindra & Mahindra Ltd., Bucher Industries AG, EXEL Industries, SDF S.p.A., CLAAS KGaA mbH, ISEKI & CO. LTD., CNH Industrial N.V. and others.

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