Agricultural, Construction and Mining Machinery Global Market Report 2022

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Major players in the agricultural, construction and mining machinery market include Deere & Company, Komatsu Ltd, Caterpillar Inc, EXOR Group, Kubota Corp, CNH Industrial NV, Volvo AB, AGCO Corporation, Liebherr Group and Zoomlion Heavy Industry Science and Technology Co.

NEW YORK, June 1, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, Agricultural, Construction and Mining Machinery Global Market Report 2022 — https://www.reportlinker.com/p06282436/?utm_source=GNW
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The global agricultural, construction and mining machinery market is expected to grow from USD 669.95 billion in 2021 to USD 743.68 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The market is expected to grow at a compound annual growth rate (CAGR) of 9.8% to $1,081.29 billion by 2026.

The agricultural, construction and mining machinery market includes the sale of agricultural machinery and equipment, powered mowing equipment and other powered household lawn and garden equipment, construction machinery, surface mining machinery and logging equipment, and oil and gas field and underground mining equipment. Production Agriculture, Construction, and Mining Machinery and equipment of a mechanical entity (organization, sole proprietorship or partnership).

The main types of agricultural, construction and mining machinery are construction machinery, agricultural tools, mining and oil and gas field machinery. The construction machinery market refers to equipment related to construction.

Various operations include autonomous, semi-autonomous and manual. The various cAsia Pacificities include small, medium and large.

Asia Pacific is the largest region for the agricultural, construction and mining machinery market in 2021. Western Europe is the second largest region for the agricultural, construction and mining machinery market.

The regions covered in this report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The steady economic growth forecast in many developed and developing countries contributes to the growth of the agricultural, construction and mining machinery manufacturing market. The International Monetary Fund (IMF) forecasts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Commodity prices are poised to further drive market growth after a historic slump. Advanced economies are also expected to experience steady growth over the forecast period. Furthermore, emerging markets are expected to continue to grow slightly faster than developed markets over the forecast period. Steady economic growth is expected to increase investments in the end-user market, thereby propelling the market over the forecast period.

The outbreak of the coronavirus disease (COVID-19) has imposed huge constraints on the agricultural, construction and mining machinery manufacturing market in 2020, as trade restrictions have disrupted supply chains and global government-imposed lockdowns have resulted in a decline in manufacturing activity. COVID-19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing.

The virus was first identified in Wuhan, Hubei Province, the People’s Republic of China in 2019 and has spread globally, including in Western Europe, North America and Asia. Machinery manufacturers rely heavily on the supply of raw materials, components and assemblies from different countries on a global scale.

With many governments restricting the movement of goods across borders, manufacturers have had to stop production due to a lack of raw materials and components. The outbreak is expected to continue to negatively impact businesses throughout 2020-2021.

However, the agricultural, construction and mining machinery manufacturing markets are expected to recover from the shock throughout the forecast period, as this is a “black swan event” unrelated to persistent or fundamental weaknesses in the markets or the global economy.

Agricultural equipment companies are providing farmers with telematics systems to wirelessly transmit data between the equipment and its users. Telematics refers to technology that collects data from agricultural equipment operating in the field and then transmits the data to customers via the Internet. – Time basis.

This enables farmers to collect and manage information remotely from their field equipment, improving operational efficiency and reducing production costs. Major companies providing telematics technology include Trimble’s Connected Farm, John Deere’s JD Link Ultimate and AGCO’s AgCommand Advanced Telematics service.

Countries covered by the agricultural, construction and mining machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE , UK, US, Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06282436/?utm_source=GNW

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