There is one constant driving the agricultural industry: the planet’s dramatically increasing demand for food to serve a global population. The result is a concurrent demand for modern technologies—including improved farming equipment— to help the world’s farmers increase both the quality and the yield of the crops they produce. With those two factors supporting growth, the global agricultural equipment market is expected to show steady and rapid increases from its estimated level of $139.0 billion in 2018. Predictions are for a CAGR of 8.9% from 2019 through 2025.
