Farm Tractors Market 2021 By Type and Application, Forecast to 2029 | By Top Key Players: John Deere, AGCO Corporation, CNH Industrial

Farm Tractors Market Snapshot:

Farm tractor is an engineering vehicle that is specifically designed to deliver high torque at slow speeds. The farm tractor market is expected to grow at a steady pace, owing to the advancements in tractor technology and rising innovations in the field. Increasing governmental investment in the agriculture sector to enhance the production of food crops provides an impetus to market growth.

The less than 40 hp segment holds the highest market share on account of their compact size, low cost, and benefits related to all the general agricultural activities. The adoption of low horsepower farm tractors in the developing economies is expected to rise in the coming future. The 41–99 hp segments is expected to show substantial growth during the forecast period, owing to its increasing demand in the developed regions, such as Europe and North America. China and India are the largest users of 41–99 hp farm tractors due to the increasing population and rising food requirements. 

The debouching trend of mechanization is surfacing in all sectors across the globe, owing to the shortage of skilled labor force, increasing labor cost, rising import and export of cereals, and surging demand for productivity and operational efficiency. Mechanization has improved the efficiency of farm work, such as harvesting, plowing, digging, and reduced the workforce. Farm tractor helps in the loading/unloading of agricultural products and transportation of various crops, and has significantly reduced the usage of animals in agriculture.

The four-wheeler drive segment dominates the market during the forecast period.The four-wheeler drive tractor has a dynamic movement of all four wheels, which makes them versatile and perfect for all the tasks performed in agriculture farming. It also has better traction to the ground than the two-wheeler drive tractor, which is why it is extensively used for tilling, livestock operations, crop protection, mowing, slashing, haulage, and loader applications. Thus, the four-wheel-drive tractor is witnessing a significant surge in demand in the developing regions. The two-wheeler drive, on the other hand, is projected to witness high demand in the developing and underdeveloped economies, such as India, China, Ghana, and Nigeria, among others, owing to its lower price.
Europe is expected to be the second-largest market for farm tractors, owing to the large agricultural lands in various European countries, such as Spain, Denmark, Hungary, and the Netherlands, among others. European farms cover around 38% of the total land area. Moreover, the European Agricultural Machinery Industry Association has mandated the lighting and braking features in all the tractors introduced on January 1, 2018. These mandates are anticipated to propel the regional farm tractor market growth over the forecast period.

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The Major Prominent Players Covered in this Report:
John Deere
AGCO Corporation
CNH Industrial
CLAAS (Germany)
Kubota (Japan)
Mahindra & Mahindra (India)
SPF Group (Italy)
J C Bamford Excavators
Iseki (Japan)

By Design Type, Orchard Tractors, Row-Crop Tractors,
By Horse Power, Less than 40 HP, 40–99 HP, 100–150 HP, 151–200 HP, 201–270 HP, 271–350 HP, 350 HP and above,
By Drive Type, Two-Wheeler Drive, Four-Wheeler Drive,
By System Type, Without Loaders, Front Loaders, Backhoe Loaders

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Farm Tractors in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Farm Tractors market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Farm Tractors and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Farm Tractors. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Recent Developments:
In 2016, Case IH unveiled its autonomous concept tractor and is performing extensive research on autonomous technology
On November 1, 2018, CNH Industrial, one of the leading farm machinery manufacturers, announced a strategic digital agriculture partnership with Farmers Edge
In 2018, KUBOTA Corporation declared plans of investing around USD 65 million in its new R&D center for tractors in Europe

Key Questions Answered in The Report:
What will the Farm Tractors market growth rate?
What are the key factors driving the global Farm Tractors market?
Who are the key manufacturers in the Farm Tractors market space?
What are the market opportunities, market risk, and market overview of the Farm Tractors market?
What are sales, revenue, and price analysis of top manufacturers of the Farm Tractors market?
Who are the distributors, traders, and dealers of the Farm Tractors market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Farm Tractors Industry?
What are sales, revenue, and price analysis by regions of Farm Tractors industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Farm Tractors Market Trends:
- The report identifies, determines, and forecasts the Global Farm Tractors Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Farm Tractors Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Farm Tractors Market.

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