The IMARC Group provides extensive analysis of the tractor industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on the global tractor market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes a competitive landscape of major key players in the industry along with emerging trends in the market.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the Keyword market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
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A tractor is a high-power, low-speed traction vehicle and power unit that is mechanically similar to a truck. It is fitted with tillers, aerators, rotary cutters, cultivators, disc harrows, pallet forks, and various other attachments. It also consists of a power-takeoff accessory that is used to operate stationary or drawn machinery and implements. Tractors are also specifically designed to be used in the form of bulldozers, scrapers and diggers to pull, move, haul, plow, and till the land.
Market Trends and Drivers:
The global tractor market is primarily driven by the increasing mechanization in the agriculture industry. The rising labor costs and seasonal labor shortages are also propelling the market growth. Besides this, the increase consumption of plant-based food products has resulted in the introduction of precision farming to improve farmland productivity. As a result, there has been a significant rise in the use of agricultural machinery on a large scale. Along with this, governments of various countries are taking initiatives to educate farmers on the importance of using agricultural machinery, including tractors. They are also offering subsides and financial assistance to facilitate automation in agricultural processes. In addition to this, the construction of highways and smart cities has escalated the demand for tractors as they are used for loading carriage, earthmoving and building activities. Furthermore, technological advancements have enabled manufacturers to integrate global positioning systems (GPS) and telematics with tractors. They have also introduced self-driving tractors with Wi-Fi connectivity that helps in increasing efficiency and productivity.
Key Market Segmentation:
The report has segmented the global tractor market on the basis of drive type, power output, application and region.
Breakup by Drive Type:
- 2-Wheel Drive
- 4-Wheel Drive
Breakup by Power Output:
- Below 40 HP
- 40 HP – 100 HP
- Above 100 HP
Breakup by Application:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of the tractor market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Kubota Corporation
- CLAAS KGaA mbH
- Escorts Limited
- Mahindra & Mahindra Ltd. (Mahindra Group)
- Argo Tractors SpA
- CNH Industrial NV
- Sonalika Group
- Tractors And Farm Equipment Limited (Amalgamations Group)
- Agco Corporation
- Changzhou Dongfeng Agricultural Machinery Group Co., Ltd. Ltd.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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