Agriculture and Farm Machinery Market to Reach US$ 281.61 Bn by 2022, Globally
Market Research, Agriculture and Farm Machinery Market, Farm Machinery Market,
According to a new market report published by Transparency Market Research “Agriculture and Farm Machinery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022”, the market for agriculture and farm machinery globally is forecast to reach US$ 281.61 Bn by 2022. Key factors driving the global agriculture and farm machinery market include increasing mechanization of agriculture coupled with the provision of subsidies by government of various countries on agricultural machinery to improve farm production. Furthermore, increasing demand for food consumption owing to the rising population is expected to stimulate the agriculture and farm machinery market growth in the coming years.
Browse the full Agriculture and Farm Machinery Market report at http://www.transparencymarketresearch.com/agriculture-forestry-machinery.html
The global agriculture and farm machinery market was valued at US$ 144.10 Bn in 2014 and is forecast to grow at 8.7% CAGR from 2015 to 2022. Increasing demand for farm tractors and harvesting machinery is expected to spur the overall market growth. The reason being the tractors and harvesters are used for multiple purposes such as tilling, ploughing, harrowing, and planting. Moreover, the growth of harvesting machinery is most prominent in the Asia Pacific region where this product is receiving high demand from China and India. The demand can be attributed to the increasing food consumption owing to rising population in this region. The segments plowing and cultivating machinery, and planting and fertilizing machinery are also expected to register moderate growth in the coming years.
Agriculture and Farm Machinery Market
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