Global agriculture equipment market was valued at US$ 103,463.9 million in 2017 up from US$ 100,321.0 million by 2016. By 2025, it is projected that the agriculture equipment market will reach US$ 136,527.1 million with a CAGR of 3.53% in the forecast period, according to a new market research report Global Agriculture Equipment Market Report, by Product Type (Tractors, Combine Harvesters, Rotavators, Power, Tillers, Seed Drill, Thresher, Power Weeder, and Others), and by Geography.
Increasing technological advancement in agriculture equipment plays a major role for the growth of the agriculture equipment market globally. Currently, farming is more advanced with the help of data analytics, GPS, remote sensing technology integrated with farming equipment. Thousands of farmers majorly in developed region are adopting new equipment to make their farming more precise. Innovation of self-driving tractor is one of the major innovation, which provides the major growth opportunity to the agriculture equipment market in the forecast period. The self-driving tractor can map fields, drive them self’s and check its own motion and helps to reduce fertilizer, seeds and fuel waste. Autonomous Tractor Corporation, John Deere are some of the major companies of the self-driving tractor.
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