Agricultural Tractors - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Agricultural Tractors is accounted for $47.27 billion in 2017 and is expected to reach $92.54 billion by 2026 growing at a CAGR of 7.8% during the forecast period. Growing people, advanced technology in agriculture machinery and rising demand for food crops are expected to bolster the demand for agricultural tractors market. However, high capital and operational costs are the major factors that hinder the adoption of farm tractors by small farmers.
An agriculture tractor is a vehicle specialized in pulling farm implements and helping in a better yield of agriculture output. Agricultural tractors are extensively used in farming and agriculture to improve agricultural productivity by performing plowing, hauling and harvesting.
By horsepower, Less Than 40 HP segment is witnessing lucrative growth due to the increasing demand for below 40 HP and above 100 HP agriculture tractors in almost all geographies. This is mainly due to the consolidation of small land and increased family-owned farming in countries such as the US. Based on geography, Asia-Pacific region dominates the global agricultural tractors market and expected to dominate the market over the forecast period owing to growing commercial farming activities in the region. China and India alone accounted for the more than 50% sales of tractors. APAC countries, such as India and China, which had an abundance of cheap agricultural laborers, are also experiencing a rise in the minimum wage of agricultural laborers due to government intervention, causing acute scarcity of the agricultural laborers.
Some of the key players profiled in the Agricultural Tractors include ARGO TRACTORS, Claas Group, Yanmar Agricultural Machinery Manufacturing Co., Ltd., Deere & Company, Mahindra & Mahindra Limited, CNH Industrial, Kubota Corporation, Massey Ferguson Limited, Tractors And Farm Equipment Limited, Caterpillar, Dongfeng Farm, Earth Tools, Same Deutz-Fahr, Antonio Carraro, Cornish Tractors, Daedong Industrial, Escorts Group, Pronar, Siromer, Lindner, Balwan Tractors (Force Motors Ltd.), Indofarm Tractors and Sonalika International.
• Wheeled Tractors
• Pedestrian Tractors
• More Than 250 HP
• 181 HP to 250 HP
• 121 HP to 180 HP
• 81HP to 120 HP
• 40HP to 80 HP
• 40 HP
• Less Than 40 HP
Engine Capacities Covered:
• High Power
• Mid Power
• Low Power
• 4-Wheel Drive
• 2-Wheel Drive
• All-Wheel Drive
• Autonomous Drive
• Other Products
Equipment Types Covered:
• Seed Sowing
• Other Applications
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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