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World Agricultural Equipment Demand to Reach nearly US$ 60 billion in 2004

(6 August 2000)

World demand for agricultural machinery and equipment is projected to increase 4.5 percent per year through 2004 to almost US$ 60 billion. Fueling gains will be accelerating global economic activity, resulting in stronger demand for agricultural products and firming in prices. This will boost farm incomes and stimulate the purchase of new farm machinery, particularly in developing regions. Developing Asia and Latin America hold particularly good prospects, as increased industrialization will attract capital for investing in farm sector productivity enhancement. Prospects are also favorable for Eastern Europe, especially the farming-centred republics of the former Soviet Union. These and other trends are presented in World Agricultural Equipment, a new study from The Freedonia Group Inc., a Cleveland-based industrial market research firm.

World Agricultural Equipment (published 08/2000, 342 pages) is available for US$4,600 from The Freedonia Group Inc., 767 Beta Drive, Cleveland, OH 44143-2326.

For further information contact Corinne R. Gangloff by email: crg@freedoniagroup.com

Company Website: http://www.freedoniagroup.com


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