Global agricultural machinery market to grow at CAGR of 8% during 2013-2018 period amid increasing global population, according to Research and Markets report

Nevin Barich

Nevin Barich

DUBLIN , January 16, 2014 (press release) – Research and Markets has announced the addition of the "Global Agriculture Machinery Market 2014-2018" report to their offering.

The analysts forecast the Global Agricultural Machinery market to grow at a CAGR of 7.97 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing global population. The Global Agricultural Machinery market has also been witnessing the arrival of new technology. However, the increasing price of raw materials could pose a challenge to the growth of this market.

Key vendors dominating this space are AGCO Corp., CNH Industrial N.V, and Deere and Company.

Other vendors mentioned in the report are Claas KGaA mbH, Escorts Group, Iseki & Co. Ltd.Kubota Tractor Corp., Kuhn Group, Kverneland Group, Mahindra & Mahindra Ltd., Same Deutz-Fahr Deutschland Gmbh, and Tractors and Farm Equipment Ltd.

Commenting on the report, an analyst from the team said: One of the major trends in the Global Agricultural Machinery market is the arrival of new technology. For instance, farmers all over the world are trying to increase their agricultural output by planting more crops in a farmland. There are certain limitations to manual seeding, such as lack of uniformity in distribution. Mechanization helps to provide uniformity while performing various agricultural tasks, such as sowing. Additionally, mechanization helps apply the proper fertilizer evenly such that seeds can properly germinate. The speed and accuracy of mechanization has made it an attractive proposition as compared to the traditional alternative of manual labor. Moreover, modern tractors are equipped with features such as modern sensors and GPS, which aids farmers in increasing productivity.

According to the report, one of the major drivers leading to an increased demand for agricultural machinery is the increasing global population. The increasing population has led to a rising demand for food and related products over the past few years. The growth of the population is particularly high in Asia compared to other continents. This is mainly due to the presence of countries such as India and China which are the two most populous countries in the world. Various governments are focused on increasing food productivity to meet the needs of a growing population. This has increased the demand for agricultural machinery that is equipped with modern technologies.

For more information visit http://www.researchandmarkets.com/research/zvhcvj/global.

About Research and Markets

Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

BW-image© 2024 Business Wire, Inc., All rights reserved.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.