The Tractors Market Is Projected To Increase At A CAGR Of Over 3.4% During 2022 - 2032

As per latest industry analysis published by Fact.MR MR - a market research and competitive intelligence provider, the global tractor market is expected to reach valuation of around USD 137 Billion in 2022. The tractor sales are slated to accelerate at a steady CAGR of 3.4% to reach USD 192 Billion by 2032. The demand for hydraulic type of mechanism is likely to increase with a CAGR of 3.8% over the assessment period of 2022 to 2032. The global agricultural equipment market was valued at USD 190 Billion in 2021, whereas the tractor market was valued at USD 133 Billion in 2021, with a total holding of 43% in the global market.

The global demand for tractors is expected to continue at an impressive rate during the forecast period. Gains in emerging markets are expected to be higher than in advanced economies. Industrial revolution and rapid adoption of new-age agricultural techniques in countries such as China, India and Brazil has provided an impetus to the global market. The South Asia & Oceania region is expected to grow at a CAGR of 5.2% over the forecast period.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:https://www.factmr.com/connectus/sample?flag=S&rep_id=510

𝗛𝗼𝘄 𝘁𝗵𝗲 𝗚𝗿𝗼𝘄𝘁𝗵 𝗶𝗻 𝗔𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗮𝗹 𝗘𝗾𝘂𝗶𝗽𝗺𝗲𝗻𝘁 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗖𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗧𝗿𝗮𝗰𝘁𝗼𝗿𝘀?
There has been an insistent increase in the implementation of agricultural equipment with a view to ensure good return on investment. This also produces a more viable business structure for farmers. However, the purchase factor of agricultural equipment including tractors still remain unsatisfactory in several regions of the world, particularly in developing countries.
To address the issues, governments in developing economies like India and Brazil are presenting policies that are directed for better access to modern agricultural equipment for farmers. Moreover, farmer subsidiary on equipment cost, improved availability of credit, emergence of contract farming, focus on maximizing productivity and opportunity for employment in urban areas is proving an impetus to the agricultural equipment industry.

𝗛𝗼𝘄 𝗛𝗶𝗴𝗵 𝗖𝗼𝘀𝘁 𝗮𝗻𝗱 𝗟𝗮𝗰𝗸 𝗼𝗳 𝗦𝗸𝗶𝗹𝗹𝗲𝗱 𝗟𝗮𝗯𝗼𝗿 𝗜𝗺𝗽𝗮𝗰𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁?

With the changing consumer requirements, tractor designs have also evolved. But, improving equipment design involves heavy investments in research and development, which often makes the finished-product expensive.
The manufacturers face the challenge of reducing the overall cost of manufacturing. From a farmer's point of view, product efficiency is important but the affordability matter the most.
The cost remains one of a major factors that impact the sales of global tractors. Meanwhile, the lack of operating knowledge of end-users is also emerging as a hurdle for the global tractors market. Increase sophistication of tractors has added more operation complexities in them.

𝗖𝗮𝘁𝗲𝗴𝗼𝗿𝘆-𝘄𝗶𝘀𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀
𝗛𝗼𝘄 𝘁𝗵𝗲 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝟲𝟬 𝘁𝗼 𝟭𝟰𝟬 𝗛𝗣 𝗘𝗻𝗴𝗶𝗻𝗲 𝗧𝘆𝗽𝗲 𝗮𝗺𝗼𝗻𝗴 𝗙𝗮𝗿𝗺𝗲𝗿𝘀 𝘁𝗼 𝗣𝗮𝘃𝗲 𝘁𝗵𝗲 𝗪𝗮𝘆 𝗳𝗼𝗿 𝗠𝗮𝗿𝗸𝗲𝘁?

High crop production provide a threshold to large-scale farming which is driving the adoption in the global agricultural landscape. To meet the requirements of tilling and ploughing across large farms, tractors with high power engines are witnessing a growing demand. The report estimates that 31% of tractors sold globally will be equipped with 60-140 HP engines by the end of 2022.

𝗪𝗵𝗶𝗰𝗵 𝗶𝘀 𝘁𝗵𝗲 𝗠𝗼𝘀𝘁 𝗣𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗹𝗲 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘀𝗺 𝗧𝘆𝗽𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁?

Considering their usage as heavy fieldwork equipment, tractors developed on hydraulic systems provide key advantages in terms of fluid transmission, fuel consumption and simple operability. The adoption of hydraulic tractors is pegged to remain economical for farmers in the years to come. By the end of 2032, the 59% of tractors sold will be hydraulic type of mechanism.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: https://www.factmr.com/connectus/sample?flag=RC&rep_id=510

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

According to the tractor market industry analysis, Caterpillar Inc., Deere & Co., Mahindra & Mahindra Limited, AGCO Corporation, Yanmar Co., Ltd., New Holland, Doosan Bobcat Inc, ARGO Tractors., Tractors and Farm Equipment Limited, CLAAS, Escorts Limited, JCB Inc and Kioti Tractors are identified as key players manufacturing tractors.
The report sheds light on leading manufacturers of tractors, along with detailed profiles of mentioned companies. Up-to-date and essential data related to market players & suppliers who are mostly involved in offering tractors have been brought with the help of a complete view of dashboard.
Some of the key developments are:
• In 2022, New Holland had re-launched the tractor named as T7 intelligent tractor with some latest features like PLM (Precision Land Management) intelligence, increase in cab volume by 8%, 11% of increase in glass area which makes a lot better visibility to the driver.
Similarly, recent developments by top providers of tractor have been tracked by the team at Fact.MR, which are available in the detailed report.
𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗽𝗿𝗼𝗳𝗶𝗹𝗲𝗱:
• Deere & Co.
• Mahindra & Mahindra Limited
• KUBOTA Corporation
• AGCO Corporation
• New Holland
• Caterpillar Inc.
• Yanmar Co., Ltd.
• Doosan Bobcat Inc
• CLAAS
• Escorts Limited
• ARGO Tractors
• JCB, Inc.
• Tractors and Farm Equipment Limited
• KIOTI Tractor

𝗞𝗲𝘆 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱

By Engine Type :-
• 22 to 25 HP
• 25 to 60 HP
• 60 to 140 HP
• 140 to 400 HP
• 400 to 620 HP

By Mechanism Type :-
• Electric
• Hydraulic
• Hybrid

By Application Type :-
• Utility Tractors
• Row Crop Tractor
• Orchard Type
• Industrial Tractor
• Garden Tractor
• Rotary Tillers
• Implement Carrier
• Earth Moving Tractors

By Region :-
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

𝗙𝗼𝗿 𝗶𝗻-𝗱𝗲𝗽𝘁𝗵 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀, 𝗕𝘂𝘆 𝗡𝗼𝘄 -https://www.factmr.com/checkout/510

𝗥𝗲𝗽𝗼𝗿𝘁 𝗦𝘂𝗺𝗺𝗮𝗿𝘆

The study offers comprehensive analysis on diverse features, including speculative and current production capacity, capacity utilization rates, captive consumption rates, grade-wise pricing, revenue growth and list of consumers with consumption quantity, trade analysis, product enhancements, and revenue generation from tractor across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue through of tractor during the forecast period.

𝗙𝗼𝗿 𝗠𝗼𝗿𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀:

https://www.prnewswire.com/news-releases/medical-adhesive-tapes-market-share-to-hit-usd-14-5-billion-by-2030-factmr-report-301647312.html

https://www.prnewswire.com/news-releases/sales-of-outdoor-advertising-to-cross-a-market-valuation-of-us-51-4-bn-by-2032-digital-out-of-home-advertising-gives-traction-301647313.html

https://www.prnewswire.com/news-releases/medical-pendant-sales-is-anticipated-to-reach-a-valuation-of-nearly-us-652-million-by-2027--factmrs-study-301648686.html

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This release was published on openPR.