LONDON--(BUSINESS WIRE)--The global agricultural compact tractor market is poised to grow by USD 296.78 million during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Agricultural Compact Tractor Market Analysis Report by Engine Capacity (20-40 HP and below 20 HP), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the worldwide rise in farm mechanization. In addition, technological advances are anticipated to boost the growth of the agricultural compact tractor market.
Many countries across the world are launching various initiatives to encourage mechanization in the agriculture sector. This is creating a strong demand for agricultural machinery such as compact tractors that can be used by small, medium, and large-scale farmers. For instance, the Sub Mission on Agricultural Mechanization (SMAM) initiative in India aims at increasing farm mechanization in the country. Such efforts are resulting in the mechanization of the agricultural sector, which is driving the growth of the market.
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Major Five Agricultural Compact Tractor Market Companies:
AGCO Corp operates its business through segments such as Tractors, Replacement Parts, Grain storage and protein production systems, Combines, and Others. The company offers a range of compact agricultural tractors under the brand, Massey Ferguson.
CNH Industrial NV
CNH Industrial NV operates its business through segments such as Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company offers a wide range of agricultural compact tractors under the brand, New Holland.
Deere & Co.
Deere & Co. operates its business through segments such as Agriculture and turf, Construction and forestry, and Financial services. The company offers 1 Series, 2 Series, and 3Series models of agricultural compact tractors.
Doosan Corp. operates its business through segments such as DI, DHC, Electro-Materials BG, Industrial Vehicle BG, and Others. The company offers a wide range of compact agricultural tractors under the brand, Bobcat.
Escorts Ltd. operates its business through segments such as Agri machinery, Construction equipment, and Railway equipment. The company offers agricultural compact tractors with engine capacity higher than 22HP.
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Agricultural Compact Tractor Market Engine Capacity Outlook (Revenue, USD Million, 2020-2024)
- 20-40 HP
- Below 20 HP
Agricultural Compact Tractor Market Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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Related Reports on Industrials Include:
Global Agricultural Tractors Market – Global agricultural tractors market by engine capacity (low power, mid power, and high power), product (all-wheel drive and two-wheel drive), and geography (APAC, Europe, MEA, North America, and South America).
Agricultural Machinery Market in India – Agricultural machinery market in India by product (tractors, harvesting machinery, haying machinery, planting and fertilizing machinery, and others).
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