Global Agricultural & Forestry Machinery Market to 2026: Increasing Mechanization of Farming Operations is Driving Growth - ResearchAndMarkets.com
Aug. 28, 2018
DUBLIN--(BUSINESS WIRE)--Aug 28, 2018--The "Agricultural and Forestry Machinery - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global agricultural machinery market accounted for $187.85 billion in 2017 and is expected to reach $384.87 billion by 2026 growing at a CAGR of 8.2%.
The global forestry machinery market accounted for $9.96 billion in 2017 and is expected to reach $16.23 billion by 2026 growing at a CAGR of 5.5%.
Factors such as rising demand for advanced machinery, increasing mechanization of farming operations, and technological advancements are driving the market growth. Moreover, the increasing demand for food led by the growing population across the globe is another key factor fueling the market across the globe. However, lack of information about farming equipment and its efficiencies among farmers are inhibiting the market growth.
By product, harvesting machinery segment is projected to have significant market share during the forecast period due to growing usage of mechanized harvesting and on-site processing equipment in developing areas. In addition, improved pressure on the arable lands due to the increasing demand for food grains and growing orders for agricultural machinery are fuelling the market growth.
In terms of geography, Asia Pacific region led by India and China is expected to be the fastest growing region. The high demand can be attributed to the rising food consumption for sufficing the rising population in these countries are factors favouring the market growth in this region.
Key Topics Covered
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Agricultural and Forestry Machinery Market, By Product
6 Global Agricultural and Forestry Machinery Market, By Geography
7 Key Developments
8 Company ProfilingAGCO Group AGROSTROJ Pelhrimov AS Claas KGaA Escorts Limited Fiat Industrial John Deere Kuhn Group Mahindra Group Same Deutz-Fahr Group Valmont Industries Incorporated Weifang Euroking Machinery Hubei Machinery and Equipment Kubota Corp Deutz-Fahr Group China National Machinery Industry Corporation
For more information about this report visit https://www.researchandmarkets.com/research/4qcg2l/global?w=4.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180828005532/en/
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Related Topics:Agricultural Machinery and Equipment,Forestry Machinery and Equipment
KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES AGRICULTURE FOREST PRODUCTS PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES
SOURCE: Research and Markets
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PUB: 08/28/2018 10:38 AM/DISC: 08/28/2018 10:38 AM