Huge Growth And Opportunities in Global Powered Agriculture Equipment Market
Posted by Rishikesh Kurane on September 19th, 2019
The exponential population of the world has led to a drastic rise in the demand for food. This, in turn, has accelerated the need for advancements in agriculture technology for better productivity. The growth trajectory of the powered agriculture equipment market is guided by these technological innovations and advancements.
The advent of the Internet of Things (IoT) and automation has led to a noteworthy development in the powered agriculture equipment market. Automation in agriculture has opened new avenues for growth in the near future. The need for maximum production in limited space is projected to push the expansion of the powered agriculture equipment market.
Investments are poised to flow towards the development of innovative power equipment for revolutionizing scientific agriculture. Furthermore, the need for machinery for undertaking new ways of farming such as hydroponics are also prognosticated to favor the proliferation of the powered agriculture equipment market through the assessment period.
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North America is expected to hold the second position in the global marketplace and touched a valuation of USD 20.2 Bn in 2016. North America has always pioneered technological innovations which are likely to favor the expansion of the powered agriculture equipment market in the foreseeable future. The U.S. is a major producer of wheat, corn, and soybean, which has motivated the leaders to revolutionize the regional market. Furthermore, Canada is also another major country-level market expected to complement the proliferation of the regional market.
Europe accounts for 24.7% share of the global powered agriculture and equipment market. Germany and France are the most substantial country-level markets in the region. Furthermore, Germany is also one of the leading exporters of agriculture machinery in the world. It is anticipated to exhibit significant growth over the assessment period.
In September 2018, Engineering conglomerate Escorts showcased automated concept tractor aimed at smart farming solutions. Escorts has collaborated with seven companies for the development of this autonomous tractor that will guide the farmers.
In December 2018, the U.S. based Sullivan Auctioneers powered by Proxibid launched eTractor.com for trusted online equipment solutions, timed auctions, offering live auctions, and an equipment marketplace
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Table of Contents
1 Executive Summary
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Powered Agriculture Equipment Market, By Product Type
7 Global Powered Agriculture Equipment Market, By Region
8 Competitive Scenario
9 Company Profile
10 List of Tables
11 List of Figures
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About the AuthorRishikesh Kurane
Joined: May 4th, 2018
Articles Posted: 1,128
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