Global Agricultural Machinery Market: Market Research by Knowledge Sourcing Intelligence
The Global Agricultural Machinery market is expected to grow at a CAGR of 2.31% to reach a total market size of US$133.792 billion by 2023, increasing from US$116.660 billion in 2017. Agricultural machinery refers to the use of machines designed for farming and other agriculture-related activities. The growing population is driving the demand for food products, which in turn is augmenting the usage of agricultural machinery for different farm applications across the globe. These machines help in enhancing the farm productivity and output while maximizing the revenues for the farmers and enterprises operating in the agriculture sector. Moreover, recent technological advancements along with the favorable government initiatives focusing on improving the overall agriculture productivity are further fueling the demand for agriculture machinery across Europe and the Asia Pacific regions. Howeve...