Tractor Market Share, Size, Trends, Growth, Demand and Forecast Till 2025
11 pages
English
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Tractor Market Share, Size, Trends, Growth, Demand and Forecast Till 2025

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11 pages
English

Description

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A tractor refers to a specifically engineered vehicle designed for providing high torque at a slow speed. Tractors are mainly used in the agriculture sector for plowing, tilling, harrowing, disking, and planting.
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Publié par
Publié le 29 juillet 2020
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Langue English
Poids de l'ouvrage 1 Mo

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Global Tractor Market Research Report and Forecast 2025
© 2020 IMARC All Rights Reserved
Report Edition: 2020 Copyright © IMARC Service Pvt Ltd. All Rights Reserved
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Report Description and Highlights Report Descripti n
Global Tractor Market Overview:
A tractor is a specially designed vehicle to provide high torque at a slow speed. Tractors are primarily used in the agriculture industry to perform plowing, tilling, harrowing, disking, and planting. They are also employed in earthmoving, load carriage, and building activities in the construction sector. The increasing labor costs, growing demand for plant-based food products, improving rural incomes, and rising number of government initiatives are driving the demand for tractors in the agriculture sector.
Global Tractor Market Trends
The emergence of precision farming and the increasing utilization of farm mechanization to enhance field productivity are propelling the adoption of tractors for several agricultural purposes. Furthermore, the growing number of farm training programs to promote the adoption of agricultural machinery on a large scale is also driving the demand for tractors. Several government bodies are offering subsidies and financial support to accelerate the automation of various agrarian processes, thereby inducing the market growth. Additionally, the rapid increase in building and construction projects further inflates the demand for tractors in the construction industry. Moreover, various technological advancements have led to the emergence of advanced tractors with pre-installed GPS and telematics devices.
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157.3 152.0 160146.7 141.4 136.1 130.8 140 125.5 120.2 120 100 80 60 40 In Billion US$ 20 0 2012 2013 2014 2015 2016 2017 2018 2019
180 160.0 160 140 120 100 80 60 40 In Billion US$ 20 0 2020
165.3
2021
170.6
2022
175.9
2023
181.2
2024
186.5
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2025
The growing traction of automated commercial vehicles and global penetration of wireless connectivity for remote monitoring is expected to drive the global tractor market.
Report Description and Highlights Report Descripti n
Tractor Market Segmentation:
Breakup by Power Output:
Below 40 HP 40 HP - 100 HP Above 100 HP
Breakup by Drive Type:
2-Wheel Drive 4-Wheel Drive
Breakup by Application:
Agriculture Construction Mining Forestry
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Others
Breakup by Region:
North America Asia Pacific Europe Latin America Middle East and Africa
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Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players.
Agco Corporation Argo Tractors S.p.A Changzhou Dongfeng Agricultural Machinery Group Co. Ltd
Report Description and Highlights Report Descripti n
CLAAS KGaA mbH CNH Industrial N.V. Deere & Company Escorts Limited Kubota Corporation Mahindra & Mahindra Ltd. (Mahindra Group) Sonalika Group Tractors And Farm Equipment Limited (Amalgamations Group) Yanmar Co. Ltd. (Yanmar Holdings Co., Ltd.).
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