Global agriculture market forecast to grow 7% from 2014 to 2019

The global agriculture equipment market is forecast to reach sales of $201.03 billion by 2019.

A new report from indicates the global market for agriculture equipment is forecast to grow 7% between 2014 and 2019, reaching sales of $201.03 billion.

Key drivers for the growing demand of agricultural equipment are the increasing global population, increased mechanization of farm equipment and reduced labor availability. Adoption of agricultural equipment is already growing at a significant rate in developing countries such as India and Brazil. India is expected to have the largest market for tractors in terms of volume in 2014.