Agriculture Equipment Market | Latest Technology and New Innovation with Growth Factors

Mechanization of different activities in agriculture, economic stability, and the advent of precision farming drive the growth of the global agriculture equipment market. However, the lack of information about efficient agriculture equipment and scarcity of arable land restrain market growth.

According to the report published by Allied Market Research, the global agriculture equipment market is expected to garner $243.5 billion by 2022, growing at a CAGR of 5.9% from 2016 to 2022.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2015, contributing for nearly two-fifths of the market share, and is expected to continue its lead status by 2026. Moreover, this region is expected to grow at the fastest CAGR of 7.6% from 2016 to 2022. The report also analyzes regions including Europe, Asia-Pacific, and LAMEA.

Asia-Pacific held the highest market share in terms of revenue in 2015, contributing for nearly two-fifths of the market share, and is expected to continue its lead status by 2026. Moreover, this region is expected to grow at the fastest CAGR of 7.6% from 2016 to 2022.

Key findings of Agriculture Equipment Market:

• The global agriculture equipment market is expected to exhibit a notable growth during the forecast period owing to the rising demand for food and increasing mechanization in agriculture.
• In the year 2015, tractors accounted for around 34% share in the overall agriculture equipment market revenue.

Download Sample Report:https://www.alliedmarketresearch.com/request-sample/1509