Agricultural Tractors Market 2019 Projected to reach $92.54 Billion by 2026 | Key players include ARGO TRACTORS, Claas Group, Yanmar Agricultural Machinery Manufacturing, Deere & Company, Mahindra & Mahindra Limited, CNH Industrial, Kubota Corporation

the Global Agricultural Tractors Market is accounted for $47.27 billion in 2017 and is expected to reach $92.54 billion by 2026 growing at a CAGR of 7.7% during the forecast period. Growing people, advanced technology in agriculture machinery and rising demand for food crops are expected to bolster the demand for agricultural tractors market. However, high capital and operational costs are the major factors that hinder the adoption of farm tractors by small farmers.

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An agriculture tractor is a vehicle specialized in pulling farm implements and helping in a better yield of agriculture output. Agricultural tractors are extensively used in farming and agriculture to improve agricultural productivity by performing plowing, hauling and harvesting.

By horsepower, Less Than 40 HP segment is witnessing lucrative growth due to the increasing demand for below 40 HP and above 100 HP agriculture tractors in almost all geographies. This is mainly due to the consolidation of small land and increased family-owned farming in countries such as the US. Based on geography, the Asia-Pacific region dominates the global agricultural tractors market and expected to dominate the market over the forecast period owing to growing commercial farming activities in the region. China and India alone accounted for the more than 50% sales of tractors. APAC countries, such as India and China, which had an abundance of cheap agricultural laborers, are also experiencing a rise in the minimum wage of agricultural laborers due to government intervention, causing acute scarcity of the agricultural laborers.

Some of the key players profiled in the Agricultural Tractors include ARGO TRACTORS, Claas Group, Yanmar Agricultural Machinery Manufacturing Co., Ltd., Deere & Company, Mahindra & Mahindra Limited, CNH Industrial, Kubota Corporation, Massey Ferguson Limited, Tractors And Farm Equipment Limited, Caterpillar, Dongfeng Farm, Earth Tools, Same Deutz-Fahr, Antonio Carraro, Cornish Tractors, Daedong Industrial, Escorts Group, Pronar, Siromer, Lindner, Balwan Tractors (Force Motors Ltd.), Indofarm Tractors and Sonalika International.

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Market Segments:
Types Covered:
• Wheeled Tractors
• Pedestrian Tractors

Horsepower’s Covered:
• More Than 250 HP
• 181 HP to 250 HP
• 121 HP to 180 HP
• 81HP to 120 HP
• 40HP to 80 HP
• 40 HP
• Less Than 40 HP

Engine Capacities Covered:
• High Power
• Mid Power
• Low Power

Products Covered:
• 4-Wheel Drive
• 2-Wheel Drive
• All-Wheel Drive
• Autonomous Drive
• Other Products

Equipment Types Covered:
• Threshers
• Rotavators

Applications Covered:
• Irrigation
• Harvesting
• Seed Sowing
• Other Applications

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This release was published on openPR.