Lewes, DE -- (SBWire) -- 08/14/2015 --Due to the Increasing demand of the market include population growth, increase in the demand for food production and need for the mechanization of the farming, the global farm equipment market is expected to grow at a compound annual growth rate (CAGR) of 9.6% and reach US$302 billion by 2022 from $145 billion in 2014.
However, factors such as increasing subsidies provided by government to purchase farm equipment and support farming practices for improved quality crops inhibit the market growth.
Farm Equipment Market is segmented by type, by end-users and by geography. Based on type, the market is classified into Harvesting Equipment, Irrigation Equipment, Fertilizing and Pest Control Equipment, Planting Equipment, Soil Cultivation Equipment and Tractors. Based on end-users, market is categorized as Farmers, R&D in Agriculture and Home Grown Food Industries. Based on geography, market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
The key players in the Farm Equipment Market include Alamo Group Incorporated, Caterpillar Incorporated, Escorts Limited, Fiat Industrial SpA, Groupe Exel Industries, Mahindra & Mahindra Limited, Tractors and Farm Equipment Limited, Valmont Industries Incorporated, WORLD Group and Yanmar Company Limited.
For more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-farm-equipment-market-outlook-2014-2022
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