Worldwide sales of farm tractors are projected to increase at a CAGR of 5.3% from 2022 to 2032. At present, the global sales of farm tractors market is valued at US$ 71 billion and is likely to reach a market size of US$ 120 billionby 2032.
Tractors play an important role in farm mechanization, allowing farmers to increase productivity and overall yield. Farm tractors are used to pull implements across the field for numerous farming operations such as tilling, planting, and harvesting crops.
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Prominent Key Players Of The Farm Tractors Market Survey Report:
- Argo Tractors S.p.A
- AGCO Corporation
- Escorts Limited
- CLAAS KGaA mbH
- CNH Industrial N.V
- Deere & Company
- Kubota Corporation
- CNH Industrial Österreich GmbH (Steyr Traktoren)
- Tractors and Farm Equipment Ltd. (TAFE)
- Mahindra and Mahindra Ltd
- SDF S.p.A
Competitive Landscape
The global farm tractors market is highly concentrated, with a few tractor makers having the lion’s share. Leading market players have the potential to accelerate growth by implementing newer technology. Key players’ principal tactics include mergers and acquisitions and product range expansion.
- In August 2021, Deere & Business acquired Bear Flag Robotics, an AgTech company. This acquisition would assist the former company in meeting consumer needs and growing its customer base.
- In July 2021, New Holland North America introduced the T7 Heavy-duty Tractor with PLM Intelligence to their farm tractor portfolio. The new tractor is designed to help farmers be more efficient by enabling them to multitask in a range of fields and transport applications.
- In February 2021, TAFE (Tractors and Farm Equipment), the maker of Massey Ferguson tractors, launched its new DYNATRACK Series, which is a modern variety of tractors that provide advanced technologies, dynamic performance, unparalleled utility, and flexibility, all concocted into a single powerful tractor.
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Key Segments
- By power output:
- Up to 30 HP
- 31HP to 100 HP
- 101HP to 200 HP
- Above 200 HP
- By Drive Type:
- Two-wheel Drive (2WD)
- Four-wheel Drive (4WD)
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Farm Tractors Market report include:
- How the market for Farm Tractors has grown?
- What is the present and future outlook of the global Farm Tractors on the basis of region?
- What are the challenges and opportunities for the Farm Tractors?
- Why the consumption of Farm Tractors highest in region?
- In which year segment is expected to overtake segment?
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