Farm Tractor Market Growth Statistics:   

From 2022 through 2029, the MMR research Global Farm Tractor Market explores the market in full. According to a detailed assessment of the commercial effects of the coronavirus outbreak and the resulting economic crisis, The Farm Tractor Market reached a value of US $ 73.67 Bn. in 2022. Global Farm Tractor Market size is expected to grow at a CAGR of 5.1%. The market is expected to reach a value of US $ 104.36 Bn. in 2029.

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Farm Tractor Market Size :

The research report on the global Farm Tractor Market includes significant data and analytical insights with the goal of providing a thorough understanding of various aspects including market size, market share, growth trends, demand, top players, industry profiles, opportunities, value cycle, end-users, types, and applications. The research also examines prospective investment prospects in micro markets and offers a thorough analysis of the competitive landscape, including the product offerings of important rivals.

The Farm Tractor market study assists decision-makers in identifying market segments, geographic areas, and other elements that are anticipated to see faster growth rates, as well as key areas of opportunity, by presenting both qualitative and quantitative data. Making wise choices about market strategies and investments requires access to this information.

Competitive Environment -

Sales of Mahindra Group Tractors increased by 5.34% in July. The company sold 25,769 units in July 2022 as opposed to 24,463 units in July 2020. This clearly shows an improvement over the prior year, and in July 2022, its market share increased by 0.77%.

The Tafe Group's (Massey Ferguson and Eicher) tractor sales decreased by 5.25%. Tafi tractor sales in the domestic market reached 11,112 units in July 2022 and 11,728 units in July 2020. TAFE suffered a 1.54% market share loss as a result. July 2022:

The domestic tractor market had a drop of 1.27%, according to Sonalika Tractor. In July 2022, this brand sold 8,115 units, compared to 8,219 units in July 2020, for a 0.57 increase.

Leading Market Players: - 

1. Claas KGaA mbH2. CNH Industrial N.V.3. AGCO Corporation4. Mahindra & Mahindra Ltd.5. Deere & Company6. Kubota Corporation7. Yanmar Co., Ltd.8. Tractors and Farm Equipment Limited9. Zetor Tractors A.S.10. Alamo Group, Inc.11. STEYR12. New Holland Agriculture13. Antonio Carraro14. Argo Tractors S.p.A.15. Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.16. CLAAS KGaA mbH17. Steyr Landmaschinentechnik AG18. Daedong-USA, Inc. KIOTI Tractor Division19. Escorts Group20. Force Motors Ltd.21. Indo Farm Equipment Limited.

These important companies in the international Farm Tractor Market industry are thoroughly examined in the report. To grow their market share and maintain dominating positions in various geographies, these businesses have implemented a variety of strategies, including new product releases, collaborations, expansion, joint ventures, agreements, and others. The study is significant in that it highlights company performance, operating segments, product portfolio, and strategic actions made by market participants to illustrate the competitive environment.

What is Farm Tractor Market Segmentation:

Global Farm Tractor Market Size, by Power Output (2022-2029)

• <30 Hp • 31Hp -150Hp • 151Hp -250Hp • >250Hp

Power Output: The market segments include less than 40 Hp, 41 to 100 Hp, and more than 100 Hp tractors. Tractors with less than 40 Hp are dominant, owing to their small size, cost-effectiveness, and versatility. Tractors with 41 to 100 Hp are expected to grow due to demand in developed regions. Tractors with more than 100 Hp are gaining demand, particularly in European nations.

Global Farm Tractor Market Size, by Drive type (2022-2029)

• Two-wheel drive
• Four-wheel drive

Driver Type: The two-wheel drive (2WD) and four-wheel drive (4WD) segments are analyzed. 2WD tractors are most common and economical, while 4WD tractors offer more flexibility. 4WD tractors are expected to see significant growth due to their advantages in large field operations.

 

Global Farm Tractor Market Size, by System type (2022-2029)

• Without loaders
• Front-loaders
• Backhoe loaders

Global Farm Tractor Market Size, by Design Type (2022-2029)

• Tractor without CAB
• Tractor with CAB

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Regional Analysis

United States: Tractor sales in the U.S. experienced fluctuations due to supply chain disruptions and lockdowns. Tractor sales declined in certain segments but rebounded, driven by rural markets and government support.

India: India is the world's largest tractor market, with demand remaining resilient even during the pandemic. Government measures for rural development and mechanization have boosted tractor sales.

Europe: European countries such as Germany and Turkey have witnessed growth in tractor sales due to increased productivity needs and labor scarcity. Various government incentives have also contributed to market growth.

China: China's agricultural mechanization rate has room for growth, and the adoption of mechanized solutions is on the rise. The country's domestic market for tractors is substantial.

Other Regions: Tractor markets in regions such as Italy, the UK, and Canada have seen fluctuations due to factors like tax incentives, demand for advanced technology, and lockdown impacts.

 

Key Questions answered in the Farm Tractor Market Report are:

  • What factors are affecting the Farm Tractor market growth?
  • Who are the key players of the Farm Tractor market?
  • Which company held the largest share in the Farm Tractor market?
  • What will be the CAGR of the Farm Tractor market during the forecast period?
  • What key trends are likely to emerge in the Farm Tractor market in the coming years?

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