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Article Title: The Freedonia Group: Agricultural Equipment Demand to Exceed $193B
Publication: Monitor Daily, 5/5/2016
Freedonia Study: World Agricultural Equipment (3395)
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Global demand for agricultural equipment is forecast to expand 6.6% per annum through 2019 to over $193 billion. Advances at the global level will be largely driven by market growth in China and other industrializing nations, which will account for over two-thirds of all new agricultural machinery demand generated between 2014 and 2019 in value terms. Livestock machinery is projected to register the fastest market increases of any major agricultural equipment product type through 2019. These and other trends are presented in “World Agricultural Equipment,” a new study from The Freedonia Group, a Cleveland-based industry research firm.
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