The agriculture, construction, and mining machinery manufacturing industry comprises establishments offering farm machinery and equipment, lawn and garden tractor, home lawn and garden equipment, construction machinery, mining machinery and equipment, and oil and gas field machinery and equipment manufacturing.
Agriculture, construction, and mining machinery manufacturing market in this report is segmented into construction machinery manufacturing, agricultural implement manufacturing, and mining and oil and gas field machinery manufacturing.
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The global agriculture, construction, and mining machinery manufacturing market has been growing in the past years with a CAGR of almost 1%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global market to growth at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Farm machinery manufacturers are offering driverless tractors and robots to individual farmers and corporate farming companies. Driverless tractors and robots automate the weeding and harvesting process. They use GPS and sensors and can be controlled using a tablet or a smart phone. These technologies are known to considerably increase farm output and decrease labor costs. For instance, according to a report by Goldman Sachs, automated tractors can raise farmer revenue by more than 10% and reduce farm labor costs. Companies offering driverless tractor and robot technologies include CNH Industrial, Deere, and AGCO have already started developing such technology.
Companies included in the report are Caterpillar Inc., Deere & Company, CNH Industrial N.V., Doosan Infracore Co. and Kubota Corp.
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