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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. ( World Agricultural Equipment Forecasts for 2012 & 2017 - Business Market Reports )
China, India hold best growth prospects in developing areas
Strongest growth in agricultural equipment demand will be registered in developing countries, with China and India holding by far the best prospects. Other large developing nations with sizable agricultural sectors, such as Brazil and Russia, will also post healthy gains as a result of increasing mechanization of their agricultural sectors. Besides benefitting from rising incomes, farmers in these regions will continue to strive to increase productivity through further automation and replacement of older equipment. Increasingly, draft animals such as horses and oxen used during various stages of the farming process will be replaced by agricultural equipment. In addition, rising wages in many of these countries as well as large scale migration to urban areas will necessitate the replacement of human capital with fixed capital such as farm machinery.
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China, India hold best growth prospects in developing areas
Strongest growth in agricultural equipment demand will be registered in developing countries, with China and India holding by far the best prospects. Other large developing nations with sizable agricultural sectors, such as Brazil and Russia, will also post healthy gains as a result of increasing mechanization of their agricultural sectors. Besides benefitting from rising incomes, farmers in these regions will continue to strive to increase productivity through further automation and replacement of older equipment. Increasingly, draft animals such as horses and oxen used during various stages of the farming process will be replaced by agricultural equipment. In addition, rising wages in many of these countries as well as large scale migration to urban areas will necessitate the replacement of human capital with fixed capital such as farm machinery.
To know more and to buy a copy of your report feel free to visit : World Agricultural Equipment Forecasts for 2012 & 2017 - Business Market Reports
Or
Contact us at :
Bharat Book Bureau
Tel: +91 22 27578668
Fax: +91 22 27579131
Email: info@bharatbook.com
Website: Bharat Book Bureau - Business Market Research Reports & Industry Analysis
Blog: BharatBook.com : Business Market Research
Follow us on twitter: Sunil Nair (3bbharatbook) on Twitter