The agricultural machinery industry is experiencing incredible growth. In addition to the low interest rate, the industry has seen investments in research and development. The growing world population has driven the demand for agricultural machinery and food. Many governments are providing subsidies to farmers to help them invest in better equipment. This trend is expected to continue in the next seven years. Listed below are the major factors driving the industry. An in-depth analysis of each factor can help you choose the best equipment for your farm.
Agricultural Machinery Market is highly fragmented, with large number of companies competing to provide farming equipment. Several of these companies are adopting export-oriented strategies, thereby increasing their share in the market. Some of the leading players in the industry are Same Deutz-Fahr Germany Gmbh, Mahindra Ltd., Kubota Tractor Corp., and CNH Industrial N.V. These players are also increasing their production capacity and are anticipated to account for significant share in the global market over the next few years.
Despite the high cost of raw materials, U.S. ag equipment manufacturers have remained competitive in the global ag equipment market. Agricultural equipment manufacturers are forecast to grow by 10 percent this year and by a further 6% in 2018. The sales of lawn and garden equipment will decrease by 3.5 percent and 0.5% in the next year. The market for lawn- and garden equipment will grow slower than expected, with a decrease in 3.8% this year and 0.35% next.
Despite the high price of raw materials, the market is expected to grow at a steady pace. Over the next few years, the industry will experience a dramatic increase in global demand for agricultural equipment. Meanwhile, environmental change, global warming, and possible water shortages are all anticipated to affect the agricultural machinery market. This growth will likely be driven by global OEMs, which will produce large-scale agricultural machinery around the world. Despite changes in the environment and the impact of these issues, the sector will continue to be strong.
Global food demand has increased over recent years. However, the number of farm tractor sales in the United States has declined in recent years. While this has been largely due to the shortage of farm labor, agriculture equipment is still growing in popularity because of the rapidly-urbanizing population. The growing demand for higher yields is another reason why the market for agricultural equipment has grown. In the future, ag equipment will continue to increase in size, as new technologies and innovations continue to make it more efficient.
The global agricultural machinery market is fragmented but the industry is expected grow moderately over the next year. The market will continue to be dominated by LAMEA and Asia-Pacific countries, which are expected the show the fastest growth. Key players in the agriculture equipment industry include Mahindra & Mahindra Ltd., CNH Industrial N.V., AGCO Corp., and Claas KGaA mbH.
Many factors are defining the agricultural machinery industry. Global food demand is rising, which is driving demand for agricultural machinery. The industry is also facing a shortage of labor in certain parts of the globe. Experts say that the growing population and the rapid industrialization will drive the growth of the agricultural equipment market. The demand for these products will be higher than ever before. The agricultural machinery industry will grow due to rapid urbanization and rapid industrialization.
The agricultural Factors that Drive the Agricultural Machinery Industry market is highly fragmented with a large number of players. Some of the biggest players in the industry are Mahindra & Mahindra Ltd., and Kubota Tractor Corp. Major companies in the sector include Same Deutz-Fahr Deutschland Gmbh and CNH Industrial N.V. and AGCO Corporation.
Despite the economic downturn, the agricultural machinery industry in the U.S. is expected to grow at double-digit rates in the coming years. The U.S. agricultural machinery industry is also growing by 39% compared to last. The use of Rare Earth Magnets created the much longer miles per gallon and much more pull at a cheaper rate. The Association of Equipment Manufacturers (AEM) reported that in April, sales of tractors below 100 HP increased by more than 40 percent. In April, the number of self-propelled combines increased by 480 units.