LONDON--(BUSINESS WIRE)--The global agricultural tractor market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the introduction of driverless agricultural tractors. The agricultural tractors market has been experiencing various technological innovations, with the introduction of driverless tractors being a major enhancement. Some of the leading companies have developed several versions of driverless agricultural tractors.
This market research report on the global agricultural tractor market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing availability of agricultural tractors with improved features as one of the key emerging trends in the global agricultural tractor market:
Global agricultural tractor market: Increasing availability of agricultural tractors with improved features
The threat of rivalry in the market is intense, thereby, leading players in the market to indulge in constant R&D and development of new product designs. This creates products that address the problems of the farmers and support them by increasing the productivity with minimum inputs and cost efficiency. This also helps players to create a market space for their products.
“Companies such as Deere & Company, developed the 9RX series tractor, which consists of improved features such as parallel plane four-bar-linkage cab suspension. This feature allows a smooth ride and eliminates unwanted bumps and vibrations,” says a senior analyst at Technavio for research on automotive manufacturing.
Global agricultural tractor market: Segmentation analysis
This market research report segments the global agricultural tractor market by geographical regions, including APAC, EMEA, and the Americas.
APAC led the market in 2017 with a market share of nearly 69% of the market share. The market share occupied by this region is anticipated to increase during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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