Alliances to Boost the US Agriculture Equipment Market: Ken Research
Agriculture equipment resorts to agricultural activities. There is a
wide range of Agriculture
equipment, namely tractors, plough, cultivation equipment, and
harvesters. The market is expected to grow at the rate of 5.9% during next six
years during 2016-2022. Due to increase in acquisition of technology driven
agriculture equipment and rising demand for food because of increase in
population contributes to the factors that are originating from the rise in agriculture equipment market. As per
the survey, during the year 2015, Asia-Pacific produced the lucrative revenue
for around 40% share in the total agriculture equipment market, subsequent to
North America and Europe. Inferior commodity prices are the outcome of Farmer’s
income. The US Congress in the Congressional Research Office conducted Agricultural Equipment Market Forecast
that says year 2016 is anticipated to be the third repeated year deteriorating
farm income as opposed to the fact that the price of commodities and land has
risen from decades. The break-even point between profits & losses for corn
and soybeans are USD 4 per bushel and USD 10 per bushel respectively. Agriculture
implants sector is expected to perform average growth in the US in next 5 five
years.
The association of Equipment Manufacturers-a Milwaukee-based trade
organization for off-road equipment manufacturers and suppliers states that the
small
tractors are still the leaders, they gain profit in the middle of 2016
middle as compared to agricultural tractors.
The retail sales in the US of farm tractors has increased to 3% beneath
40 horsepower as opposed to last year and improved by 12.7 % till date. But in
case of 2 wheel tractors has augmented by 2.8 percent under 40 to 100
horsepower in the month of June but has decreased by 1.1 percent till date. Due
to which, the sale has come down to 21.6 % of 2 wheel drive of 100 plus
horsepower tractors. Simultaneously, the sale of 4 wheel tractors has decreased
by 34.3 % every year and losing by 31.3% till date. By correlating the sales it
shows 8.0% growth for the month of June but sales till date shows decline by
23.3%.
Two innovative alliances and trends has been formed with local
agribusinesses according to The United States Agency for International
Development(USAID) and i.e. between Babban Gona and Hello Tractor for encouraging the expansion of Nigeria’s
agriculture sector, private division policy and US management agriculture. And
this association between both the organisations costs around USD 2 million
predicted that the final outcome will improve entrance of enhanced seeds,
exclusive tractors and moreover, shows the advantageous place for more than
45,000 small scale farmers over the Federal Capital Territory and seven states.
By virtue of these partnerships, USAID has been addressing the company’s
shortcomings by mounting right to novel agricultural materials and automation,
by enlarging market potential for small scale farmers, and by providing
superior class technical consultative services. Babban Gons’s company takes
into consideration problems of small scale farmers by devising powerful
cooperatives called Trust Groups, and these groups facilitates them to enter
into new markets and sell at best prices.
To know more on
coverage, click on the link below:
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/SC-104-19.html
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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