Ozone Market Reports projects that the Farm Tractor market size will grow from USD 102.11 Billion in 2017 to USD 139.44 Billion by 2023, at an estimated CAGR of 5.33%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
Although the agriculture industry plays a vital role in a country’s economy, a significant downturn has been noticed at a global level. According to World Bank data, the contribution of agriculture industry in global GDP declined from 4.36% to 3.91% between 2005 and 2015. This decline is also reflected in the agricultural equipment market, especially in North America and Europe. According to the Association of Equipment Manufacturers (AEM), the U.S. and Canada farm tractors market witnessed a decline of 0.72% and 12.47%, respectively in 2015, as compared to 2014. Further, the VDMA report mentioned that tractor sales in Europe declined to approximately 6.91% in 2014 from the previous year due to economic slowdown. However, the tractor sales of countries such as Argentina, Mexico, and Turkey had grown to 31.1%, 3.3%, and 4.1%, respectively in 2016. Hence, owing to the growth of farm tractors market in these countries and other factors such as rising mechanization and increasing productivity and efficiency requirements, the global agricultural equipment market is expected to witness a positive growth in the coming years.
By Market Players:
AGCO Corporation , Claas KGaA mbH , CNH Industrial N.V. , Mahindra & Mahindra Ltd. , Deere & Company , Iseki & Co., Ltd. , J C Bamford Excavators Ltd. , Kubota Corporation , Same Deutz-Fahr Italia S.P.A. , Yanmar Co., Ltd. , Bucher Industries , Escorts Ltd. , Zetor Tractors A.S. , Alamo Group, Inc. , Tractors and Farm Equipment Limited , , , , , ,
By Product Type:
2WD, 4WD, Autonomous Tractor, , ,
Combines Market, Combines Market, Combine Harvesters for Corn Market, Combine Harvesters for Rice Market, Combine Harvesters for Soybean Market,
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Points Covered in The Report:
The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. The historical data from 2012 to 2017 and forecast data from 2018 to 2023.
The growth factors of the market is discussed in detail wherein the different end users of the market are explained in detail.
Data and information by manufacturer, by region, by type, by application and etc, and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
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