The global market for agricultural equipment is expected to rise by a significant margin in the coming years, as farmers around the world are increasing the amount of demand for machines to help ease operations and increase production.
According to a release from ReportLinker, the world demand for agricultural equipment is expected to rise by 6.7 percent each year through 2016. This significant annual increase may represent how well farmers and people who have used farm equipment are doing.
While the overall industry is expected to benefit from this increased demand, several specific sectors could see the most growth. According to the report, tractors, like those available from John Deere, were the largest product segment in 2011. These represented 30 percent of the total market for the year.
Plowing and cultivating equipment is also expected to grow in popularity by a significant amount in the coming years, as a 9.1 percent annual increase is projected due to increased use in foreign markets.
Companies like John Deere offer a number of attachments for tractors, as cultivation can be made easier through the use of specific items like planters and seeders.
Market for agricultural equipment expands around the world
Plowing and cultivating equipment is also expected to grow in popularity by a significant amount in the coming years, as a 9.1 percent annual increase is projected due to increased use in foreign markets.