Global Tractors Market Research Report Reveals Trends, Opportunities & Competition Tracking till 2026

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of tractors market. The study is titled as “Tractors Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global tractors market.

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Fact.MR observes that the adoption of tractors witnessed an impressive growth in the past decade. According to its forecast study, the global market for tractors is assessed to witness sales of over 3,100 thousand units of tractors by the end of 2026. The study also foresees that during the period, 2017-2026, the global market for tractors will reflect a CAGR of 3.2% in terms of value.

Hydraulic Mechanism to Remain Sought-After; Garden Applications to Register Fast Volume Growth

Majority of tractors manufactured globally will be developed on a hydraulic mechanism. The advantages of hydraulic tractors in terms of efficient fuel and fluid transmissions, economical utility and conservative power consumption will drive their sales in the near future. Throughout the forecast period, more than 50% of tractors sold globally will be developed on hydraulic mechanism. It is further estimated that gardening application of tractors will gain traction through 2026. Over the forecast period, garden tractors are expected to reflect the highest volume CAGR of 3.7%, reflecting rampant adoption. The report also foresees that utility tractors will be a high volume growth application in the global market. By the end of 2026, more than 740 thousand units of utility tractors are pegged to be sold worldwide.

Large Scale Farming to Drive the Demand for Tractors Equipped with 60-140 HP Engines

In 2017 and beyond, around 30% of tractors sold globally will be equipped with 60-140 HP engines. The report identifies that increasing adoption of large-scale farming is driving the need for tractors with high power engines. Governments are providing lucrative funding for large-scale farming, which extends the budgets of farmers in buying tractors with high power engines. From the manufacturing standpoint, high prices of 60-140 HP tractors will translate into high profit margins in the view of their growing sales. The demand for 140-400 HP tractors is also pegged to surge towards the end of the forecast period. By the end of 2026, nearly 330 thousand units of 140-400 HP tractors are pegged to be sold globally.

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Arrival of Driverless Tractors to Redefine Market Dynamics

Leading manufacturers of tractors are expected to focus on improving the safety of tractors by incorporating technologies and remodeling the structure of tractors, thereby eliminating the chances of rollovers. Companies such as Caterpillar, Deere & Company, Tractors and Farm Equipment Limited, Kubota Corporation, AGCO Corporation, Claas KGaA mbH, New Holland, McCormick Tractor, Escorts Limited., Bobcat (a Doosan company), Mahindra & Mahindra Limited, KIOTI Tractor (subsidiary of Daedong Industrial Company, Ltd.), Yanmar America Corporation and JCB, are observed as the key manufacturers of tractors in the world. With the advent of autonomous driving technologies, self-driving tractors will be penetrating the agricultural machinery industry in the near future. Driverless tractors will revolutionize the global landscape for tractor manufacturing. Advanced sensors and IoT technologies will be integrated with tractors to transform their functioning for meeting the future farming needs.

Table of Contents:

1. Global Economic Outlook

2. Global Tractors Market – Executive Summary

3. Global Tractors Market Overview
3.1. Introduction
3.1.1. Global Tractors Market Taxonomy
3.1.2. Global Tractors Market Definition
3.2. Global Tractors Market Size (US$ Mn) and Volume (Units) Forecast, 2012-2026
3.2.1. Global Tractors Market Y-o-Y Growth
3.3. Global Tractors Market Dynamics
3.4. Global Agricultural Machinery Market: Macroeconomic Factors and Impact Analysis
3.5. Growth Opportunities of Tractors and other Agricultural Equipment in Agriculture Sector
3.6. Impactful Trends Transforming Agriculture to High-Tech Industry
3.7. Key Challenges and Opportunities

4. Global Tractors Market Analysis and Forecast 2012-2026
4.1. Global Tractors Market Size and Volume Forecast By Engine Types, 2012-2026
4.1.1. 22 to 25HP Market Size and Volume Forecast, 2012-2026
4.1.1.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region

Continued………

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This release was published on openPR.