The global agriculture, construction, and mining machinery
manufacturing market, a part of the machinery manufacturing industry, grew at a
compound annual growth rate (CAGR) of around 0.7% during the historic period. The
growth is mainly due to rising construction activities in developing regions
such as Asia Pacific and the Middle East. However, the machinery manufacturing
industry, experienced a fall in 2015 due the global oil crisis that led to a
further decline in the crude oil prices.
This decline further restricted the
growth of the global agriculture, construction, and mining machinery
manufacturing market.
In the forecast period, the global agriculture,
construction, and mining machinery manufacturing market size is expected to be over
$960 billion by 2021, growing at a CAGR of nearly 3%. This is expected due to continuous
expansion activities in the agriculture, construction, and oil and gas
industries globally. Furthermore, rising population, exploration of shale oil,
and increasing per capita incomes are expected to drive the global agriculture,
construction and mining machinery manufacturing market in the future.
Find TBRC’s report on the agriculture, construction, and
mining machinery manufacturing market: https://www.thebusinessresearchcompany.com/report/agriculture-construction-and-mining-machinery-manufacturing-global-market-report-2018
Companies operating in the agriculture machinery manufacturing
market are offering telematics systems to farmers to enable them with wireless
transfer of data. Telematics is defined as the technology of collecting data
from a farm equipment and transferring the data to customers through the internet
on a real time basis. This allows the farmers to remotely collect and manage
information from their field equipment, enhance operational efficiencies and
reduce production costs. Major companies in the agriculture, construction and
mining machinery manufacturing market, offering telematics technology include
Trimble’s Connected Farm, John Deere’s JD Link Ultimate, and AGCO’s AgCommand
Advanced Telematics service.
Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=301&type=smp
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