The Asia Pacific Farm Mechanization Market was calculated to be 14.6 billion US dollars in 2018 and is estimated to reach a CAGR of 6.4% during the outlook period of 2019 to 2024.

Market Drivers and Restrains:

Increasing demand for food along with rising government support to the farmers, and increased need for operational efficiency and modernization of agricultural sector are some of the factors driving the growth of the Asia Pacific Farm Mechanization market. Furthermore, rising labor costs and declining number of workers involved in agricultural sector are some other factors that supports the growth of the Asia Pacific Farm Mechanization market.

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Report is segmented as:

The Asia Pacific Farm Mechanization market is divided based on power output, drive type, equipment type, function.

By power output, the market is segmented into 250HP.

By drive type, the market is segmented into two types namely two-wheel drive and four-wheel drive.

By equipment type, the market is segmented into tractors, combines and others.

By function, the Asia Pacific Farm Mechanization market is segmented into sowing & planting, plowing & cultivating, plant protection & fertilizing, harvesting & threshing and other functions.

Geographical Segmentation:

Asia Pacific region dominated the market of farm mechanization owing to the rapid urbanization, increased food demand, migration and aging of the rural population due to which the number of farmers is decreasing and dependence on farm mechanization are some of the factors helps the growth of the market in Asia Pacific region.

Impact of COVID 19 on Asia Pacific Farm Mechanization Market

Due to coronavirus pandemic, the market of farm mechanization is affected majorly in Asia Pacific region as most of the corona cases were recorded in some of the major countries in the region like India, Japan, China, etc. The virus has forced many companies in the Asia Pacific Farm Mechanization market to halt production operations which in turn resulted huge losses for the companies. As per the analysis, the Asia Pacific Farm Mechanization market is expected to increase in terms of market revenue due to the increasing demand for food with the growing population in some of the emerging economies in this area.

Key market players:

Major players of Farm Mechanization market include CNH industrial (Netherlands), AGCO (US), John Deere (US), Mahindra & Mahindra (India), CLASS (Germany), and Kuboto (Japan).

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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