DUBLIN--(BUSINESS WIRE)--The "Farm Tractors - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Farm Tractors Market to Reach $103 Billion by 2027
The global market for Farm Tractors estimated at US$79 Billion in the year 2022, is projected to reach a revised size of US$103 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. 31 HP to 100 HP by Power Output, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$17.7 Billion by the end of the analysis period.
The U.S. Market is Estimated at $12.1 Billion, While China is Forecast to Grow at 7.4% CAGR
Farm Tractors market in the U.S. is estimated at US$12.1 Billion in the year 2022. China is forecast to reach a projected market size of US$33.2 Billion by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 4.4% and 4.1% respectively over the 2020-2027 period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Farm Tractors: A Prelude
- Different Types of Farm Tractors
- Tractors - The Workhorses of Agriculture
- Growth Drivers in a Nutshell
- Key Challenges
- Farm Tractors Market Back on Track
- Population Growth & Demand for Food to Create Long-Term Stability in Growth
- Emerging Economies Drive Market Expansion
- Competitive Scenario
- Fierce Competition Keeps Farm Tractor Makers on Toes
- Tractor Manufacturers Feel the Heat of Competition from Asian Manufacturers
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 83 Featured)
- AGCO Corporation
- Argo Tractors S.p.A.
- CLAAS KGaA mbH
- CNH Industrial N.V.
- CNH Industrial Osterreich GmbH (Steyr Traktoren)
- Deere & Company
- Escorts Limited
- Kubota Corporation
- Mahindra and Mahindra Ltd.
- SDF S.p.A.
- Tractors and Farm Equipment Ltd. (TAFE)
3. MARKET TRENDS & DRIVERS
- Increasing Mechanization of Farming Practices Drives Sales of Tractors
- Percentage of Population Engaged in Agriculture for Select Countries
- Robust Demand for Advanced Tractors in Developed Markets
- Strong Adoption across Industrializing Nations
- Agricultural Labor Shortage & Rising Labor Wages to Spur Demand for Tractors
- Shrinking Labor for Agriculture Benefits Demand for Tractors
- Food Security Drives Governments to Stress on Improving Productivity
- Growing Agricultural Trade Worldwide to Create Major Opportunities for Farm Tractor Vendors
- Farm Consolidation to Lead to Demand for Larger Tractors
- Autonomous Farm Tractor to Become an Essential Constituent of Precision Agriculture
- Growing Investments in Smart Agriculture Bodes Well for the Adoption of Autonomous Tractors
- Technological Innovations to Drive Productivity in Agriculture
- Renting Farm Equipment and Tractors Picking Up Pace
- Expanding Global Population & Increase in Agricultural Output to Drive Demand for Tractors
- Focus on Precision Farming Lends Traction to Tractor Sales
- Technological Innovations in Farming Equipment Lead the Way
- Technologically Advanced Tractors Gain Prominence in Developed Markets
- Comfort Features: An Important Value Addition Gaining Traction
- Alternative Fuel Tractors: An Important Product Development in the Coming Years
- Small Tractors Gain Ground in Developing Regions
- Certified Used Machines are Catching Up Globally
- Rising Demand for Energy Crops: A Business Case for Farm Tractors
- Biodiesel Production and Consumption in Thousand Barrels per Day by Select Countries
- Average Biofuel Yields of First Generation Feedstocks
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/k42skr
