Global Market Study on Agricultural Equipment

Apr 2017| PMR212A| Persistence Market Research

Report Highlights

The analysts of Persistence Market Research have followed a solution oriented approach while studying the global agricultural equipment market in a recent publication titled “Agricultural Equipment Market: Global Industry Analysis and Forecast, 2016-2024.” Major players in the market are focused on shifting their production bases to the Asia Pacific and MEA regions in order to capitalize on economies of scale. The analysts have observed that the tractors segment by product type is expected to dominate the global agricultural equipment market over the period 2015 to 2024. However, the seed drill and power weeder segments are expected to grow at an attractive CAGR over the forecast period. After studying the global agricultural equipment market in detail, the researchers have come to the conclusion that APAC and North America are expected to hold a relatively high volume and value share respectively. Among all regions, MEA is expected to witness relatively high CAGR during the period 2015 to 2024, followed by Latin America and APAC. According to this report, long-term strategic partnerships with component suppliers may provide good growth opportunities for agricultural equipment manufacturers. The report highlights key player strategies of studying market trends and consumer demand patterns to continuously evolve in product offerings and ensure uninterrupted revenue generation.

What are the market participants saying?

A product manager from a European agricultural equipment manufacturing company explained that the agricultural equipment industry in Europe has constantly faced lower sales and has had to deal with a dramatically decreasing customer base, even in terms of total engine power sold. Trends in commodity prices is not the only factor responsible for the change in the agricultural equipment industry. During primary research, the sales director of one of the agricultural equipment manufacturing companies in APEJ indicated that China and India are the major shareholders in the Asia Pacific agricultural equipment market owing to factors such as provision of favorable loans to farmers, recent changes in the subsidy policy for the purchase of agricultural equipment, demand for harvesting and tillage machinery, and decline in the tractor market over the past three months. The Business Development Manager of an agricultural equipment manufacturing company in MEA said that the Middle East and Africa market is fast gaining traction in the global agricultural equipment market owing to the availability of farm land on lease by the government at low prices and also indicated that most of the market movement can be seen in the Eastern (Ethiopia) and southern parts.

Market Segmentation

By Region

North America
Latin America
MEA
Europe
APAC
By Product Type

Tractors
Combine Harvesters
Rotavators
Power Tillers
Seed Drill
Thresher
Power Weeder
Others
Research Methodology

Yearly change in inflation rate has not been considered while forecasting the market numbers. Average Selling Price (ASP) has been considered to determine market values while studying the global agricultural equipment market. Top-down approach has been used to obtain market numbers, while bottom-up approach has been used to counter-validate the market estimations. Macroeconomic indicators such as GDP and end-use application industries’ growth have been considered in this report. The average price of agricultural equipment is inferred across all the five assessed regions. Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analyzed and average market volume is deduced and reconfirmed prior to incorporating in the report. The market value of the global agricultural equipment market is thus calculated from the data derived from the average selling price and market volume.

For the eight year forecast of the global agricultural equipment market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the market.

In the compilation of the report, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with crystal clear insights and future opportunities as far as the global agricultural equipment market is concerned.

  • Table 1 : Global Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 2 : Global Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Table 3 : Global Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Region, 2015-2024
  • Table 4 : North America Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Country Segment, 2015-2024
  • Table 5 : North America Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 6 : North America Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Table 7 : Latin America Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Country Segment, 2015-2024
  • Table 8 : Latin America Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 9 : Latin America Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Table 10 : Europe Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Country Segment, 2015-2024
  • Table 11 : Europe Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 12 : Europe Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Table 13 : APAC Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Country Segment, 2015-2024
  • Table 14 : APAC Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 15 : APAC Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Table 16 : MEA Agricultural Equipment Market Size (US$ Mn) and Volume ('000 Units) Forecast, by Country Segment, 2015-2024
  • Table 17 : MEA Agricultural Equipment Market Size (US$ Mn) Forecast, by Product Type Segment, 2015-2024
  • Table 18 : MEA Agricultural Equipment Market Volume ('000 Units) Forecast, by Product Type Segment, 2015-2024
  • Figure 1 : Global Agricultural Equipment Market BPS Analysis, by Product Type, 2016 & 2024
  • Figure 2 : Global Agricultural Equipment Market Y-o-Y Growth (%), by Product Type, 2015-2024
  • Figure 3 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Tractor Segment, 2016-2024
  • Figure 4 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Combine Harvesters Segment, 2016-2024
  • Figure 5 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Rotavators Segment, 2016-2024
  • Figure 6 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Power Tillers Segment, 2016-2024
  • Figure 7 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Seed Drill Segment, 2016-2024
  • Figure 8 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Threshers Segment, 2016-2024
  • Figure 9 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Power Weeder Segment, 2016-2024
  • Figure 10 : Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by Others Segment, 2016-2024
  • Figure 11 : Global Agricultural Equipment Market Attractiveness Index by Product Type, 2016 � 2024
  • Figure 12 : Global Agricultural Equipment Market BPS Analysis, by Region, 2016 & 2024
  • Figure 13 : Global Agricultural Equipment Market Y-o-Y Growth (%), by Region, 2015-2024
  • Figure 14 : North America Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 15 : Latin America Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 16 : Europe Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) , 2016-2024
  • Figure 17 : APAC Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn), 2016-2024
  • Figure 18 : MEA Agricultural Equipment Market, Absolute $ Opportunity (US$ Mn) by, 2016-2024
  • Figure 19 : Global Agricultural Equipment Market Attractiveness Index by Region, 2016 � 2024
  • Figure 20 : North America Agricultural Equipment Market Share and BPS Analysis by Country, 2016 & 2024
  • Figure 21 : North America Agricultural Equipment Market Y-o-Y Growth Projections by Country, 2015-2024
  • Figure 22 : North America Agricultural Equipment Market Attractiveness Index, by Country, 2016 � 2024
  • Figure 23 : North America Agricultural Equipment Market Share and BPS Analysis by Product Type, 2016 & 2024
  • Figure 24 : North America Agricultural Equipment Market Y-o-Y Growth Projections by Product Type, 2015-2024
  • Figure 25 : North America Agricultural Equipment Market Attractiveness Index, by Product Type, 2016 � 2024
  • Figure 26 : Latin America Agricultural Equipment Market Share and BPS Analysis by Country, 2016 & 2024
  • Figure 27 : Latin America Agricultural Equipment Market Y-o-Y Growth Projections by Country, 2015-2024
  • Figure 28 : Latin America Agricultural Equipment Market Attractiveness Index, by Country, 2016 � 2024
  • Figure 29 : Latin America Agricultural Equipment Market Share and BPS Analysis by Product Type, 2016 & 2024
  • Figure 30 : Latin America Agricultural Equipment Market Y-o-Y Growth Projections by Product Type, 2015-2024
  • Figure 31 : Latin America Agricultural Equipment Market Attractiveness Index, by Product Type, 2016 � 2024
  • Figure 32 : Europe Agricultural Equipment Market Share and BPS Analysis by Country, 2016 & 2024
  • Figure 33 : Europe Agricultural Equipment Market Y-o-Y Growth Projections by Country, 2015-2024
  • Figure 34 : Europe Agricultural Equipment Market Attractiveness Index, by Country, 2016 � 2024
  • Figure 35 : Europe Agricultural Equipment Market Share and BPS Analysis by Product Type, 2016 & 2024
  • Figure 36 : Europe Agricultural Equipment Market Y-o-Y Growth Projections by Product Type, 2015-2024
  • Figure 37 : Europe Agricultural Equipment Market Attractiveness Index, by Product Type, 2016 � 2024
  • Figure 38 : APAC Agricultural Equipment Market Share and BPS Analysis by Country, 2016 & 2024
  • Figure 39 : APAC Agricultural Equipment Market Y-o-Y Growth Projections by Country, 2015-2024
  • Figure 40 : APAC Agricultural Equipment Market Attractiveness Index, by Country, 2016 � 2024
  • Figure 41 : APAC Agricultural Equipment Market Share and BPS Analysis by Product Type, 2016 & 2024
  • Figure 42 : APAC Agricultural Equipment Market Y-o-Y Growth Projections by Product Type, 2015-2024
  • Figure 43 : APAC Agricultural Equipment Market Attractiveness Index, by Product Type, 2016 � 2024
  • Figure 44 : MEA Agricultural Equipment Market Share and BPS Analysis by Country, 2016 & 2024
  • Figure 45 : MEA Agricultural Equipment Market Y-o-Y Growth Projections by Country, 2015-2024
  • Figure 46 : MEA Agricultural Equipment Market Attractiveness Index, by Country, 2016 � 2024
  • Figure 47 : MEA Agricultural Equipment Market Share and BPS Analysis by Product Type, 2016 & 2024
  • Figure 48 : MEA Agricultural Equipment Market Y-o-Y Growth Projections by Product Type, 2015-2024
  • Figure 49 : MEA Agricultural Equipment Market Attractiveness Index, by Product Type, 2016 � 2024

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