Global Farm Equipment Market Report 2014 - Worldwide Market Size, Share, Trend, Growth, Analysis and Research Report

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Agricultural or farm equipment cover a broad range of machines and tools which help the farmers to carry out the various processes required to enhance the output as well as the quality of crops. Based on their characteristics, agricultural equipment can be divided into two types: farmstead equipment and field equipment.

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Engineering inputs to agriculture by way of mechanization has increased considerably during the recent years so as to meet the timeliness of farm operations, reducing drudgery, capacity enhancement and efficient utilization of inputs. With the implementation of agricultural support policies, growth in farmer’s income and the changes in agricultural production methods, global farm equipment industry is scaling new heights and promise healthy development in coming years.

Europe is the unprecedented leader in farm equipment market. However, Asia Pacific presents a huge market opportunity for this industry on the back of ameliorated economic conditions and better funds for investment in R&D of agriculture machinery. India and China constitute the largest markets for agricultural equipment in terms of unit sales, although typical equipment tends to be in the form of smaller horsepower, low-technology tractors with relatively low unit prices. These emerging economies have incessantly increased their production volumes and will continue to be the major drivers of the industry.

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Growth in the global market for agricultural equipment is dependent on varied factors including economic scenario, weather and demand. Population growth is expected to fuel demand for agriculture...