Albany, NY -- (SBWIRE) -- 08/12/2013 -- Global Farm Equipment Market:

A marked feature of today's ever growing demand for higher agricultural production, which is pivotal for the survival of mankind, is the technological innovation providing advance machinery and tools for diverse agricultural needs. The farm equipment sector is not only growing but also playing a vital role in the economies of different nations. The projections suggest continuous growth in the production of farm equipments, world over, at a CAGR of about 4.7% for the period spanning 2012-2015.

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Indian Agricultural Equipment Market:

In India, farm mechanization has played a critical role in improving agricultural production as well as productivity by enabling proper and efficient use of inputs. Demand for farm equipments such as power tillers, tractors, combine harvesters, rice transplanters etc has been rising over the past few years, with the increase in income level of farmers. Additionally, acute shortage of labor resources and continued subsidy scheme by government to encourage farmers to buy farm equipments has further increased the farm equipments demand.

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By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the farm equipment industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

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