Global Agricultural Machinery Market to Cross $100 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

Driven by population growth and rising demand from emerging economies, the global agricultural machinery market is poised for robust growth. The market is projected to cross $100 billion by the year 2015.

San Jose, California (PRWEB) November 12, 2008 -- The global market for agricultural equipment is forecast to witness modest pace of growth with developing economies offsetting the impact of slower growing developed world. Market expansion will be driven by greater farm mechanization in significant markets such as India and China. Solid potential exists in these countries due to the substantially lower levels of mechanization and inefficient farm equipment. In addition, countries such as Indonesia, Thailand, Brazil and Russia are expected to post robust growth due to increased use of machinery. Further, governments in these countries are increasingly placing greater emphasis on enhancing productivity through automation or mechanizing traditional processes.

The US, the world's largest market, will witness below-average gains stemming from retarding growth in agricultural output. Europe will record modest growth on the back of rising farmer incomes from high crop prices. Further, demand will continue to be mostly replacement driven since the farming sectors are stagnant in terms of number of farms, acreage and other parameters. Extensive use of precision agriculture aided by latest technologies in GPS systems and sophisticated sensors will also drive market growth.

Given the large size of farm holdings and high levels of automation, the market is concentrated in Europe and the US, particularly for big, advanced machines. Europe is the largest market for agricultural machinery (http://www.strategyr.com/Agricultural_Implements_And_Machinery_Market_Report.asp) worldwide, worth close to US$23 billion in 2008, as stated by Global Industry Analysts, Inc. Asia-Pacific is the fastest growing market and is forecast to emerge as the largest market by the year 2015. United States is the most advanced regional market with sales forecast to exceed US$21 billion in 2013. Among product segments, farm tractors (http://www.strategyr.com/Agricultural_Implements_And_Machinery_Market_Report.asp) is the largest and the fastest growing market, and is forecast to reach close to US$7 billion by the year 2015. The market for harvesting machinery (http://www.strategyr.com/Agricultural_Implements_And_Machinery_Market_Report.asp) is projected to be worth more than US$14 billion in 2011.

The market for agricultural machinery is concentrated with top three players being AGCO, John Deere and CNH Global. A high level of globalization complicates the determination of the exact local content of agricultural machinery manufactured in the US & other nations. The top three companies are multinational firms with assembly operations worldwide, either through subsidiaries or joint ventures. In addition to AGCO, CNH and John Deere, key players operating in the market include Claas KgaA, Escorts Group, Iseki & Co Ltd, Kubota, Kuhn Group, Kverneland Group, Mahindra & Mahindra, Same Deutz-Fahr Group, and Tractors and Farm Equipment Limited.

The report titled "Agricultural Implements and Machinery: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of market structure, market dynamics, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America by the following product segments - Farm Tractors, Harvesting Machinery, Planting & Fertilizing Machinery, Plowing & Cultivating Machinery, Haying Machinery, and Auxiliary Equipment & Others.

For more details about this research report, please visit

http://www.strategyr.com/Agricultural_Implements_And_Machinery_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.StrategyR.com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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