Farm Tractor - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Farm Tractor Market is accounted for $9.11 billion in 2019 and is expected to reach $16.48 billion by 2027 growing at a CAGR of 7.7% during the forecast period. Some of the key factors propelling the growth of the market are rapid urbanization, increasing mechanization in the agriculture industry, and the growing demand for food products. However, the high initial cost is the restraining factor for the growth of the market.
Farm tractors are the vehicles specialized in pulling farm implements and helping in a better yield of agriculture output. These are widely used in farming and agriculture to improve agricultural productivity by performing ploughing, hauling and harvesting.
By power output type, the 31Hp–100 Hp segment is expected to grow at a significant market share during the forecast period because of its extensive use in the majority of the regions around the globe. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period which is attributed to the increasing agricultural activities in countries like China and India.
Some of the key players in Farm Tractor Market include AGCO Corporation, Argo Tractors S.p.A., Caterpillar, CLAAS Group, CNH Industrial, Deere & Company, Escorts Group, International Tractors Limited, JCB, Kubota Corporation, Mahindra & Mahindra Limited, Massey Ferguson Limited, SDF Group, Steyr Landmaschinentechnik AG, TAFE, and Yanmar Co.
Drive Types Covered:
• Two-wheel Drive (2WD)
• Four-wheel Drive (4WD)
Modes of Operation Covered:
• Manual Tractor
• Driverless Tractor
Vehicle Types Covered:
• Gasoline and Diesel
Power Output Types Covered:
• Above 300Hp
• 31hp–100 Hp
• <30 Hp
• Wheel Tractor
• Crawler Tractor
Design Types Covered:
• Tractor without CAB
• Tractor with CAB
System Types Covered:
• Without Loaders
• Front Loaders
• Backhoe Loaders
• Ploughing/Plowing & Cultivating
• Planting & Fertilizing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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