Reportstack has announced a new market research publication on Global Agriculture Machinery Market 2014-2018. The following companies are the key players in the Global Agriculture Machinery Market: AGCO Corp., CNH Industrial N.V., and Deere and Company. “One of the major trends in the Global Agricultural Machinery market is the arrival of new technology. For instance, farmers all over the world are trying to increase their agricultural output by planting more crops in a farmland. There are certain limitations to manual seeding, such as lack of uniformity in distribution. Mechanization helps to provide uniformity while performing various agricultural tasks, such as sowing. Additionally, mechanization helps apply the proper fertilizer evenly such that seeds can properly germinate. The speed and accuracy of mechanization has made it an attractive proposition as compared to the traditional alternative of manual labor. Moreover, modern tractors are equipped with features such as modern sensors and GPS, which aids farmers in increasing productivity.”
According to the report, one of the major drivers leading to an increased demand for agricultural machinery is the increasing global population. The increasing population has led to a rising demand for food and related products over the past few years. The growth of the population is particularly high in Asia compared to other continents. This is mainly due to the presence of countries such as India and China which are the two most populous countries in the world. Various governments are focused on increasing food productivity to meet the needs of a growing population. This has increased the demand for agricultural machinery that is equipped with modern technologies.
Further, the report states that the cost of major raw materials used in the manufacture of agricultural machinery, such as steel, rubber, and iron, has increased significantly over the past few years. The volatility of the prices of these raw materials poses a serious threat to the vendors. These vendors are striving to produce highly efficient agricultural machinery at affordable costs in order to cope with the increasing competition. This could affect their profit margins, thereby adversely affecting the market as whole.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.reportstack.com/product/148246/global-agriculture-machinery-market-2014-2018.html.