Organic Farming in Argentina to Boost Sales in the Tractors Market in Latin America | Arizton

The rising number of manufacturers of seed drills, combine harvesters, tractors, and agricultural implements in Argentina will trasform the tractors market in Latin America

Arizton’s recent market research report on the tractors market in Latin America identifies Deere & Company, CNH Industrial, AGCO, and Kubota as the leading vendors that are likely to dominate the market during the forecast period.

The tractors market in Latin America is estimated to generate volumes of around 87 thousand units by 2023, growing at a CAGR of over 4% during 2018-2023.

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The tractors market in Latin America is divided into three major segments that consist of horsepower type, wheel drive, and countries.

Argentina to grow at the fastest CAGR in the tractors market in Latin America during forecast period

The tractors market in Latin America by countries is segmented into Brazil, Mexico, and Argentina. Argentina dominated a considerable market share in 2017, growing at a CAGR of more than 6% during the forecast period. Argentina is one of the leading agricultural machinery manufacturers in the world market. The rising trend of precision farming and organic farming will propel the growth of the Argentinean market in Latin America. The increasing production of crops, reviving the economy, increasing government aids, and rising exports are some of the factors contributing to the growth of Argentina in the tractors market in Latin America. The government agencies are undertaking efforts to improve domestic production and competitiveness of seeders, sprayers, and tools in the Argentina market. The rising number of manufacturers of seed drills, combine harvesters, tractors, and agricultural implements will transform Argentina in the tractors market in Latin America. Combine harvesters and tractors accounts for the largest share of agricultural machinery sales in Argentina, followed by agricultural implements and seed drills, representing 20% of sales on average in Latin America.

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4 WD segment to grow at a significant CAGR in the tractors market in Latin America during forecast period
The tractors market in Latin America by wheel drive is classified into 2 WD, and 4 WD.

4 WD segment dominated a considerable market share in 2017, growing at a CAGR of approximately 7% during the forecast period.

The increasing focus on faster cultivation and quicker planting times with plantation of seeds done at optimum weather conditions in the narrow planting window is driving the growth of this segment in the Latin American market. The better efficiency of these 4 WD machines in relatively lesser time is one of the major drivers of the growth of this segment. Modern 4wds on tires and tracks range from 250 HP - 500 HP and these systems will revolutionize the tractors market in Latin America. Leading vendors operating in the Latin American market that offer 4 WD machines include AGCO, Case-New Holland, and John Deere. The increasing focus on farm mechanization and technological innovations will boost sales and revenues in this segment in the Latin American market during the forecast period.

The other prominent players operating in the tractors market in Latin America are SDF, Class, Argo Tractors, LS Corporation, Mahindra & Mahindra, Agrale, Zetro, Sonalika Group, and Agrinar.

The complete overview of the latest market research report on tractors market in Latin America by Arizton is now available.

The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.

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