Tractor Implements - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Tractor Implements Market is accounted for $55.14 billion in 2017 and is expected to reach $98.75 billion by 2026 growing at a CAGR of 6.7% during the forecast period. Some of the key factors propelling the market growth are an effective way to reduce post-harvest on-field losses, high requirement of implements during the land development phase. However, high equipment cost due to technology integration may hamper the growth of the market. Furthermore, increase in the integration of technology and smart farming and government subsidiaries for implements are considered as the future growth opportunities of the market.
A tractor is an engineering vehicle specifically designed to deliver at a high tractive effort at slow speeds, for the purposes of hauling a trailer or machinery used in agriculture or construction. Most commonly, the term is used to describe a farm vehicle that provides the power and traction to mechanize agricultural tasks, especially tillage, but nowadays a great variety of tasks. Agricultural implements may be towed behind or mounted on the tractor, and the tractor may also provide a source of power if the implement is mechanized.
Based on power, powered segment is projected to be the growing segment owing to the increasing need to enhance food production and the integration of technologies in various farm equipment. Depending on the phase, irrigation & crop protection propels the market share with the increasing availability of exclusive types of machinery for harvesting, plowing, and sowing in the market, as well as sprayers and applicators as implements for tractors
By geography, the Asia Pacific provides potential growth opportunities during the forecast period. Rising urbanization has led to limited agriculture labor in rural areas of the Asia Pacific region, which has led to an increasing need for mechanized farming techniques by investing in agricultural implements
Some of the key players in Tractor Implements market include CNH Industrial N V, Deere & Company, Claas KGaA Mbh, Actuant, Agco Corporation, Alamo Group, Mahindra & Mahindra, Kuhn Group, J C Bamford Excavators Ltd (JCB), Kubota Corporation, SDF Group, and Tractors and Farm Equipment Limited (TAFE).
• 4-Wheel Drive
• 2-Wheel Drive
• Harvesting and Threshing
• Irrigation and Crop Protection
• Sowing and Planting
• Other Phases
- 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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