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Global Tractors Market Insights on Growth Prospects and Strategies for Leading Players in 2024-2032

Global Tractors Market Insights on Growth Prospects and Strategies for Leading Players in 2024-2032

The recent “Tractors Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Tractors Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Tractors Market Analysis and Growth Forecast:

Global Tractors Market is valued at approximately USD 70.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.8 % over the forecast period 2022-2028. Tractors are used in applications such as agriculture, construction and logistics to move attached implements such as rotavators and harvesters. Government support for farm mechanization, growing construction activities and new product launches are fueling growth in the tractor market.

For instance, in 2020, government of the United Kingdom announced funding of USD 35.36 million for productivity-boosting farming equipment under the Countryside Productivity Small Grants (CPSG) scheme. Under the scheme, farmers have the option to apply for grants between USD 4243 and USD 16975 to buy new and innovative equipment for value addition and improvement of machinery such as tractors in their farms. Additionally, in February 2021, Tractors and Farm Equipment Limited (TAFE), unveiled the Dynatrack series of tractors, that is equipped with DynaLIFT hydraulics system and VersaTECH technology. Furthermore, growing farm labor shortages and technological advancements in tractors are expected to inject growth into the global tractor market. As per the World Bank, employment in agriculture (% of total employment) globally, dwindled from 27.8% in 2017 to 26.7% by 2019. However, high cost of tractors which made it unaffordable for small and marginal farmers is expected to restrain growth in coming years.

Major market players included in this report are:

  • Deere and Company
  • Kubota Corporation
  • Mahindra Tractors
  • CNH Industrial
  • AGCO Corporation
  • Escorts Limited
  • Tractors and Farm Equipment Ltd
  • Sonalika International Tractors Limited
  • HMT Limited
  • Force Motors Limited

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The detailed segments and sub-segment of the market are explained below:

By Horsepower:

  • Below 40 HP
  • 40 HP – 100 HP
  • Above 100 HP

By Drive Type:

  • Two-wheel Drive
  • Four-wheel Drive/All-wheel Drive

By Region:

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain
  • Italy
  • ROE

Asia Pacific

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • RoAPAC

Latin America

  • Brazil
  • Mexico

Rest of the World

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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