Russia agriculture equipment market is projected to grow at a CAGR of 4.26% to reach US$5.286 billion in 2024 from US$4.116 billion in 2018. The adoption of modern technologies by farmers to increase farm yield and meet the soaring demand for food is expected to be a key factor driving the market. Traditional farming techniques like plows and seeders are now being replaced with various modern agricultural machinery. According to FAO Russia contains 20% of the world's fertile land. The Russian government has made it a priority to ensure food security for the nation by increasing the number of agricultural products produced in Russia. Therefore, there is a demand for agricultural equipment that allows for increasing yield. The increasing demand for operational efficiency, improved productivity, growing adoption of mechanization is further driving the Russian agriculture equipment.
The “Russia Agriculture Equipment Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type and function.
The Russia agriculture equipment market has been segmented based on type and function. By type, the market has been segmented on the basis of combines, balers, tractors, livestock related equipment, and others. By function, the market has been segmented as harvesting, planting and fertilizing, haying, ploughing and cultivating, food and feed processing, and others.
Major players in the Russia agriculture equipment market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the Russia agriculture equipment market.
The Russia agriculture equipment market has been analyzed through the following segments: