Agricultural Machinery Market: Market Size to Increase by USD 45.98 Billion from 2021 to 2026
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09 May, 2022, 20:20 ET
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NEW YORK, May 9, 2022 /PRNewswire/ -- Technavio categorizes the global agricultural machinery market as a part of the global agricultural and farm machinery market. The agricultural machinery market report presents a comprehensive study and presentation of demand drivers, market trends, restraints, market size, and forecasts over the period of 2022 to 2026.
Agricultural Machinery Market: Key Drivers, Trends, and Challenges
View market report outlook to learn more about factors influencing the market.
Vendor Insights
The report identifies the following as the dominant players in the market:
Product Insights and News
The agricultural machinery market forecast report offers insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For example, AGCO Corp., a leading vendor offers agricultural machinery including articulated four-wheel-drive tractors which provide farmers with the highest level of productivity in large acreage enterprises. In addition, in December 2021, the company acquired Appareo Systems LLC, a leader in software engineering, hardware development, and electronic manufacturing.
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Product Segmentation
The tractors segment emerged as the largest revenue-generating product segment of agricultural machinery market. The agriculture machinery market is dominated by the sale of products such as tractors, harvesting machinery, parts and attachments, planting and fertilizing machinery, and plowing and cultivating machinery. Owing to the application in farming activities such as plowing, tilling, harrowing, leveling, and weed control, this demand for tractors will contribute to a significant market share of the agriculture machinery market during the forecast period.
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Agricultural Machinery Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Decelerate at a CAGR of 5.87%
Market growth 2022-2026
$ 45.98 billion
Market structure
Fragmented
YoY growth (%)
6.6
Regional analysis
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 40%
Key consumer countries
US, China, India, Indonesia, and Brazil
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
AGCO Corp., Agrale SA, Bucher Industries AG, CHANGFA GROUP, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., CLAAS Group, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Weichei Lovol Heavy Industry Co. Ltd., Yanmar Holdings Co. Ltd., China National Machinery Industry Corp. Ltd., and J C Bamford Excavators Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Pandemic Impact
The outbreak of COVID-19 in 2020 severely affected the agricultural sector. Lockdowns were introduced to control the spread of the disease, which further caused the closure of manufacturing facilities and disruptions in supply chains. The restrictions negatively impacted crop production, decreasing the demand for agricultural machinery and resulting in low sales. However, policies and initiatives by various governments are expected to improve growth and aid in market recovery.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
SOURCE Technavio
Technavio