New Market Study Published: Pre-Harvest Market - Trends & Forecasts To 2018

From: Fast Market Research, Inc.
Published: Mon Jul 22 2013

The practice of agriculture around the world showed a significant change owing to the developments made in farm equipment industry. Mechanization in agriculture increasingly proved important and played a key role in agricultural production globally. The inclusion of mechanization not only influenced and reduced the workload, but changed the characteristics of labor in agricultural practices. Agriculture mechanization improved the timeliness of operation and increased the capacity of production. But this also resulted in the need of bigger and heavier machinery, and also for higher speeds. Conservation and proper utilization of natural resources and reduction in the overall cost of production is also possible if the agricultural machinery is used efficiently. Farm operations are performed on time and better quality of agricultural commodities are produced by usage of machinery. The global pre-harvest market is estimated to grow at a CAGR of 5.7% from 2013 to 2018, reaching to revenue of $55,696.6 million by 2018.

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The global pre-harvest market has grown exponentially in the last few years and a similar trend is expected to continue for the next 7 to 8 years. Leading companies are focusing on launching of new products for expansion of the business in local as well as foreign markets. Investment and expansion is the second most preferred growth strategy after new products launch.

Asia-Pacific and Europe are the leading consumers of pre-harvest agri equipment - together accounting for more than 60% of the consumption on a global scale. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in countries such as China, India, Japan, Turkey, and Thailand. The pre-harvest agri equipment market consists mainly of the equipments such as Primary Tillage Equipments, Secondary Tillage Equipments, Irrigation Equipments, Plant protection & Fertilizing Equipments and Planting. The Planting Equipment accounts for 30% of the total market share.

The global pre-harvest agri equipment market is driven by many factors such as growth in population growth and the increasing demand for food, increasing net farm income due to farm mechanization and government subsidies in Asia-Pacific region. The main obstacles are the lack of awareness of farm mechanisation among the farmers. Other reason which restricts the growth of this industry is small and fragmented land holdings.

We have used various secondary sources such as directories, and databases to identify and collect information useful for this extensive commercial study of pre-harvest agri equipment market. The primary sources - experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of agricultural equipments.

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