World Agricultural Equipment: Industry Research Report

World Agricultural Equipment

Published Date: August 2008

Published By: Freedonia Group Inc

Page Count: 280

Order Code: R154-1841

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Global demand to rise 3.7% annually through 2012
World demand for agricultural machinery and equipment is forecast to increase 3.7 percent annually through 2012 to $111 billion. Gains will be paced by the accelerating mechanization of the agriculture sectors in currently large agricultural equipment markets such as China and India whose farm sectors are nevertheless still significantly unmechanized and inefficient in comparison to those found in more developed markets. Moreover, rapidly rising global staple food crop prices and shortages in 2007 and early 2008 indicate a growing necessity to increase farm productivity and effi- ciency in developing countries. To some extent, gains could be hindered if energy prices remain at their current high levels through the forecast period and negatively impact global economic growth.

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