"Tractor Trends: Agricultural Tractors Market Size, Share, and...

The global sales of agricultural tractors are anticipated to reach a market value of US$ 63 million in 2022, with a projected Compound Annual Growth Rate (CAGR) of 6% expected to propel the market value to US$ 113 million during the assessment period from 2022 to 2032. The escalating demand for food worldwide has imposed a considerable burden on the agriculture industry. To enhance production rates, farmers are increasingly relying on agricultural tractors for activities such as sowing, ploughing, and spraying. Furthermore, the rapid growth in the adoption of agricultural tractors is attributed to advancements in mechanization within the sector.

This segment offers numerous opportunities, encompassing manufacturing, distribution, retail, and marketing services. Fact.MR analysts have employed extensive rounds of primary and comprehensive secondary research to derive various estimates and projections for the demand of the Agricultural Tractors Market, both at the global and regional levels.

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Market Players: –

CNH Industrial N.V.
Deere & Company
Kubota Corp.
International Tractors Ltd.
CLAAS KGaA
Escorts Ltd.
Mahindra & Mahindra Ltd.
AGCO Corp.
Yanmar Co., Ltd.
Tractors and Farm Equipment Ltd.

Competitive Landscape

In January 2022, Deere & Company revealed a fully autonomous tractor that is ready for large scale production. The tractor consists of GPS system, advanced technologies and Tru-Set enabled chisel plow. Furthermore, the tractor is expected to be available in the market by the end of 2022.
In January 2022, Deere & Company received eight AE50 awards for innovative product engineering from ASABE. The company is focusing on increasing efficiency of its wide range products that would provide instant results.

Key Segments Covered in the Agricultural Tractors Industry Report

By Engine Power
- Agricultural Tractors Less than 40 HP
- Agricultural Tractors between 41 to 100 HP
- Agricultural Tractors More than 100 HP
By Driveline Type
- 2WD Agricultural Tractors
- 4WD Agricultural Tractors

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

Trends of Agricultural Tractors Market

Precision Agriculture Integration: Agricultural tractors were becoming increasingly equipped with precision farming technologies such as GPS, sensors, and data analytics. This integration allowed for more accurate planting, fertilizing, and harvesting, leading to improved efficiency and reduced resource wastage.
Sustainability and Efficiency: There was a growing emphasis on sustainable agriculture. Many tractor manufacturers were focusing on producing more fuel-efficient and environmentally friendly models. Electric and hybrid tractors were also being explored as a way to reduce emissions and operational costs.
Autonomous and Semi-Autonomous Tractors: The development of autonomous and semi-autonomous tractors was a significant trend. These tractors could operate without direct human control, enhancing operational efficiency, reducing labor requirements, and optimizing field operations.
Digital Connectivity and IoT: Tractors were being equipped with IoT technology to enable real-time monitoring and control. This connectivity allowed farmers to remotely track the performance of their tractors, receive alerts for maintenance needs, and optimize routes and work patterns.
Customization and Modularity: Tractor manufacturers were offering more customization options, allowing farmers to choose specifications that fit their specific needs. Modular designs allowed for easy attachment of various implements and tools, enhancing versatility.

"Tractor Trends: Agricultural Tractors Market Size, Share, and Emerging Dynamics"