Four-Wheel Drive Tractor Global Market Report 2024 by The Business Research Company | AGCO Corporation, Deere & Company, Escorts Limited, Komatsu Corp., Mahindra & Mahindra Ltd., SAME DEUTZ-FAHR Italia S.p.A., Kubota Corporation, Deutz-Fahr, Caterpillar I

The four-wheel drive tractor market size has grown strongly in recent years. It will grow from $17.71 billion in 2023 to $18.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increased in mechanization and modernization of agriculture, growth in demand for higher agricultural productivity and efficiency, expansion of commercial farming and large-scale agribusinesses, rise in global population and food demand, need for timely and efficient field operations.

The four-wheel drive tractor market size is expected to see strong growth in the next few years. It will grow to $22.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to focus on sustainable and environmentally-friendly agriculture practices, adoption of autonomous and ai-powered farming technologies, demand for multi-functional and versatile tractors, integration of connectivity and telematics in tractor operations, customization and specialization of tractors for unique agricultural applications. Major trends in the forecast period include precision agriculture and gps guidance systems, autonomous and self-driving tractors, electric and hybrid tractors, advanced hydraulic systems for implement control, integration of augmented reality (ar) for field operations.

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Four-Wheel Drive Tractor Market Major Segments
The four-wheel drive tractor market covered in this report is segmented -

1) By Power Output: Less than 40 HP, 40 HP to 100 HP, 100 HP to 200 HP, Above 200 HP
2) By Propulsion System: Diesel, Hybrid Electric, Electric
3) By Operation: Manual, Autonomous
4) By End-Use: Farm, Construction and Mining, Other End Uses

Key Driver - Agricultural Growth Boosts Demand For Four-Wheel-Drive Tractors

Rapid growth in the agriculture industry is expected to propel the growth of the four-wheel-drive tractors market going forward. The agricultural industry refers to an industrial activity involving the processing, cleaning, storage, and packing of the results from agricultural production. Four-wheel-drive tractors help the agriculture industry by improving traction, increasing pulling power, and enhancing versatility. For instance, according to the India Brand Equity Foundation, an India-based trust established by the Department of Commerce, in November 2022, Exports of agricultural and processed food items increased by 25% in the first six months of the current fiscal year 2022-23 (April-September) compared to the same period in FY 2021-22. Therefore, rapid growth in the agriculture industry is driving the growth of the four-wheel-drive tractors market.

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Prominent Trend - Mahindra & Mahindra Launches New Lightweight Four-Wheel Drive Tractors Under 'Oja' Sub-Brand

Key companies operating in the market are focusing on manufacturing smart four-wheel drive tractors, which is gaining significant popularity in recent years. OJA lightweight platform tractors, with the new compact utility OJA tractors, pack more power while weighing less than the regular-weight tractors. For instance, in August 2023, Mahindra & Mahindra Limited, an Indian multinational automotive manufacturing corporation, launched a new series of lightweight four-wheel drive tractors in seven models in the 21-40 horsepower (HP) range under the 'OJA' sub-brand platform.

Four-Wheel Drive Tractor Market Players
Major companies operating in the four-wheel drive tractor market include AGCO Corporation, Deere & Company, Escorts Limited, Komatsu Corp., Mahindra & Mahindra Ltd., SAME DEUTZ-FAHR Italia S.p.A., Kubota Corporation, Deutz-Fahr, Caterpillar Inc., Massey Ferguson Limited, SDF Group, New Holland, Case IH, Tractors and Farm Equipment Limited, Fendt, Valtra, Antonio Carraro SpA, Arbos, ARGO SpA, Basak Traktor Tractors, Belarus, Carraro Agritalia, Chelyabinsk Tractor Plant, Claas, CNH Industrial N.V., Steiger, TYM Corporation, The Toro Company, Versatile AG, Mahindra & Mahindra Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the four-wheel-drive tractor market in 2023. The regions covered in the four-wheel drive tractor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Four-Wheel Drive Tractor Market Report Structure
3. Four-Wheel Drive Tractor Market Trends And Strategies
4. Four-Wheel Drive Tractor Market - Macro Economic Scenario
5. Four-Wheel Drive Tractor Market Size And Growth
…..
27. Four-Wheel Drive Tractor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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