The Tractor market is expected to grow at CAGR of 7.9% to reach USD 78.41 billion by 2025.
A tractor is a motor vehicle one to two small wheels in front and two large wheels at the back side, commonly used in agriculture purpose and other functions. Crawler tractor, Wheel tractor and Walking tractor are some of the types of this product. The industry growth is majorly driven by the strong demand from agricultural industry coupled with technology advancements. Furthermore, in this fast changing industry trends, tractor manufacturers have starred to keep an eye on a new farm equipment business class that is rising nowadays. On a worldwide scale, Asia Pacific region is considered to be a big region while the developed regions are claimed to be the promising market. Volume wise, India is considered to be one of the major markets worldwide, selling over 700,000 tractors annually.
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Top Key Players Covered in this report –
Deere and Company, Class Group, Iseki & Co. Ltd, JCB, Massey Ferguson Limited, TAFE, Yanmar Co., Kubota Corporation, CNH Industrial, Mahindra & Mahindra, Others
Based on types, the Tractor market is segmented into –
Very Large (>50 hp), Small (21-30 hp), Medium (31-40 hp), Large (41-50 hp), Others
In terms of application, the Tractor market is segmented into –
Agriculture, Construction, Transportation, Mining, Others,
Tractor Market Report Key Benefits
- The tractors market report provides a point by point analysis on the global industry reliant on product development, new introduction, distinctive techniques used, application and related systems
- The thematic report on tractor industry further discusses latest industry trends, potential product demand, growth prospects, latest technology up-gradations among others
- Thus, the proposed report is all around prepared by considering its latest development for all geographies in the global tractors market