Pre-Harvest Market worth $55,696.6 Million by 2018

Tuesday 16 July 2013, Amsterdam

The report "Pre-Harvest Market: By Types (Primary Tillage Equipment, Secondary Tillage Equipment, Planting Equipment, Irrigation Equipment, Plant Protection and Fertilizing and Others), By Geography: Trends and Forecasts To 2018" defines and segments the pre-harvest agri equipment market with analysis of current demand and forecasted consumption in terms of revenue. It also identifies the driving and restraining factors for the pre-harvest agri equipment market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented by types and sub-types. The market revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). On the basis of significant contribution to overall demand, key countries have been covered and forecasted for each region.

The agriculture industry is currently facing many challenges: producing more food to feed the growing population with a diminishing labor force. Without the use of agricultural equipment it will become very difficult to sustain this growing population. However, recently there was innovation in chemicals, fertilizers, and seeds which enabled the agricultural producers to meet the ever-growing demands of the world population. But in spite of such innovations and recent development in agricultural productivity, the challenge for the agricultural industry to supply the expanding global economy with sufficient supplies of agriculture are greater than ever before.

The pre-harvest market is driven by the associated advantages such as increased farm yield and reduction in labor requirement. Other positive factors driving the demand of the industry include increased consumption of food due to the population growth, increased farm mechanization level and increasing income of middle class farmers in developing nations. However, the lack of awareness and high cost of farm equipment, are the major obstacle in the growth of the market. One of the key restraining factors for agricultural equipment market is the small and fragmented land holding in various parts of the world. Growth is particularly high in countries such as China, India, Japan and Thailand because of the growing awareness about increasing farm yield and high efficiency of equipments which result in high-quality produce.

The global  pre-harvest market was estimated to be worth around $40,118.2 million in 2012 and is expected to reach $55,696.6 million by 2018, growing at the CAGR of 5.7% from 2013 to 2018. Leading manufacturers are focusing on expansion of the respective businesses across regions and setting up new manufacturing plants to ramp up production capacities and broaden overall product line. Major industry participants are involved in new product launches and collaborations to penetrate the untapped markets of Asia and Latin America.