As per this study the Global Agricultural Tractor Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%.
The tractor is the farm equipment specially designed to mechanize field tasks. It is generally used to pull mowers, cultivators, plows by delivering high traction at slower speed. These agricultural tractors are gasoline, diesel, or electrically powered vehicles that are used for plowing, tiling, seed sowing, cultivating and harvesting.
Rising global population generating high demand for food is driving the market growth. The rise in labor wages, easy availability of finance and rapid adoption of advanced agriculture equipment is further boosting the growth of the market. Ongoing advancement leading to the development of automated agricultural tractor to increase the efficiency of farming is also accelerating the market growth. Favorable loan facilities offered by governments of developing nations to promote mechanized farming is again escalating the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of agricultural tractor.
The broad agricultural tractor market has been sub-grouped into power output, drive type and mode of operation. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Power Output
By Drive Type
- Up To 30HP
- 31HP To 100HP
- 101HP To 200HP
- 201HP To 300HP
- Above 300HP
By Mode Of Operation
- Two Wheel Drive (2WD)
- Four Wheel Drive (4WD
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for agricultural tractor in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Agricultural Tractor Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the agricultural tractor market include AGCO Corporation, Alamo Group Inc., Caterpillar, Inc., CLAAS KGaA mbH, CNH Industrial N.V., Daedong Industrial Company, Ltd., Deere & Company, Escorts Limited, J.C. Bamford Excavators Limited (JCB), Kubota Corporation, Mahindra & Mahindra India Limited, SDF Group, Tractors and Farm Equipment Limited (TAFE), Yanmar Co., Ltd. and Zetor Tractors A.S. among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.