Published On : 27 Aug 2018
The global agriculture and farm equipment/machinery sales market is predicted to witness a surge in demand during the forecast period due to the ever rise in population. Agriculture and farm equipment or machinery generally consist of tools that are required by farmers to increase their agricultural productivity. These tools are mostly used in farmlands. Products which falls under the category of farm equipment/machinery are cultivators, tractors, ploughers, and tractors. These machinery products are deployed in order to maximize the yield of the land. Rapid advancement in technology has picked and solved various problems such as wastage of time and energy, accompanied with lack of skilled labor, thus driving the market in a positive way. The latest machinery are known to be more efficient with better output results, thus favoring the growth of the market.
Rise in Population to Push the Global Agriculture and Farm Equipment/Machinery Market
Rise in demand for harvesting machinery and tractors is predicted to aid the overall market grow due to their multiple uses. Rise in awareness towards the use of technology to fetch better output results is actually helping farmers to receive better results in comparison to what they used to use before like using bullocks and physical labor for ploughing and harvesting. Rise in population has actually increased the demand for food and beverages at an exponential rates, thus indirectly pushing the farmers to deliver more output within a specific limited time. This has increased the uptake of agriculture and farm equipment, at a huge rate. Reduction in land and rapid modernization tends are anticipated to push the global agriculture and farm equipment/machinery sales market. Another factor which is helping the market grow is the ongoing trend in rise of vegetarian throughout the world. These population mainly rely on vegetables and fruits which are directly obtained from farm lands, thus favoring the market to grow.
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Rise in Raw Materials to Deter the Market Growth
Government of various countries are known to have provided various schemes in order to promote the agricultural growth of nation. Monetary aids by the government are helping farmers who are unable to get their hands on such advanced equipment. Favorable government policies like the promotion of FDI in the agricultural sector in countries which are developing are expected to witness a surge in cash flow, thus helping the market to grow. However, it has been noticed that the expensive raw material like iron, steel, and rubber has resulted in surge of production cost for the manufacturers. Fluctuation in the prices of these raw material is giving a tough time for the manufactures to produce a quality product, thus restraining the growth of the market.
Global Players to Expand With the Help of Strategic Partnership
Numerous multinational companies are known to be investing in developing countries in order to expand their foothold in newer regions. The leading players are coming up with new idea in order to ease the pain of farmers, while gaining a considerable amount of profit. For example John Deere, did introduce 5E and 4M series of tractors for small scale farming which was welcomed by various farmers, as it was inexpensive and delivered better output. Some of the major players in the market are AGCO Corporation, Deere and Company, Alamo Group, Inc., and Mahindra & Mahindra Limited.
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