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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Agriculture Tractors Market Trends
Companies are investing in sophisticated processes and technologies to improve the quality and efficiency of their tractor products. For example, John Deere has developed the "AutoTrac" guidance system using GPS to steer tractors with high accuracy, while AGCO Corporation produces advanced tractors with technologies like "FendtONE" and precision farming solutions. Thus, the advent of intelligent and smart tractors equipped with advanced technologies is enhancing their efficiency and autonomy, thereby influencing the agriculture tractors market development.
Moreover, electric tractors are experiencing rapid growth, fuelled by technological innovations, government incentives, and farmers' increasing awareness of environmental concerns. Key players like Sonalika and Murugappa Group are driving this surge with the introduction of advanced battery-powered tractors. Murugappa Group launched three electric tractors in March 2024, equipped with cutting-edge batteries and smart farming tools, further enhancing the market's prospects.
Agriculture Tractors Market Report Snapshots
Agriculture Tractors Market Size
Agriculture Tractors Market Growth
Agriculture Tractors Market Trends
Agriculture Tractors Market Share
Agriculture Tractors Companies
Agriculture Tractors Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 89.25 billion.
The market is expected to grow at a CAGR of 5.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 144.69 billion by 2032.
The major drivers of the market include the growing awareness regarding benefits of tractors in agriculture, expansion of farming activities, thriving agriculture industry in developing economies, and the rising disposable incomes of people.
Key trends aiding market expansion include the increasing adoption of precision farming, demand for high-performance tractors, rapid mechanisation, growing deployment of modern technology, and development of inbuilt safety systems in agriculture tractors.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
An agriculture tractor has versatile applications and can be used to move farm machinery and carry out a wide range of farming operations like ploughing, harvesting, hauling, and cultivating crops.
The various wheel types in the market are two-wheel type and four-wheel type.
The primary types of tractors included in the market are orchard tractors and row-crop tractors.
Key players in the market are Deere & Company, Escorts Limited, Massey Ferguson, AGCO Corporation, Yanmar Holdings Co., Ltd., Mahindra & Mahindra Ltd., Tractors and Farm Equipment Limited, Sonalika, Alamo Group, and Kuhn Group, among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124