EIN Presswire

Sales of Agricultural Tractors will Likely Garner a Market Value of US$ 113 Mn By 2032

Technological advancement is playing a key role in the innovation of agricultural tractors

ROCKVILLE, MARYLAND, UNITED STATES, May 11, 2022 /EINPresswire.com/ —
Agricultural Tractors Market Analysis by Engine Power (Less than 40 HP, between 41 to 100 HP, More than 100 HP), by Driveline Type (2WD Agricultural Tractors, 4WD Agricultural Tractors), by Region – Global Forecast 2022-2032

The global sales of agricultural tractors will likely garner a market value of US$ 63 Mn in 2022 and is expected to register a CAGR of 6% by accumulating a market value of US$ 113 Mn through the assessment period 2022-2032.
Increase in demand for food has burdened the agriculture industry across the globe. Thus, to escalate the production rate, farmers are relying on agricultural tractors for sowing, ploughing and spraying. Furthermore, improving mechanization in tractors is rapidly growing the adoption of the same.

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Escalating Demand for Agricultural Tractors in Europe

Technological advancement has taken a forefront in nearly all domains in Europe. Thus, agriculture too is no exception. This has led to the demand for autonomous and electric tractors in Europe. In comparison, the land for agriculture in countries such as Greece, Italy and Lithuania are bigger in comparison to other regions. Thus, to save time, demand for agricultural tractors has escalated in the region.
Furthermore, the government in Europe is focusing on increasing the production rate of agriculture. Thus, the demand for agricultural tractors has increased in the region. Due to the aforementioned factors, Europe is expected to hold more than 40% market share for agricultural tractors in the forecast period.

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 Companies Profiled

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

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Key Segments Covered in the Agricultural Tractors Industry Report

• By Engine Power

o Agricultural Tractors Less than 40 HP
o Agricultural Tractors between 41 to 100 HP
o Agricultural Tractors More than 100 HP

• By Driveline Type

o 2WD Agricultural Tractors
o 4WD Agricultural Tractors

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Following Questions Answers Covered in the Report are:

• How will the global Agricultural Tractors Market perform during the forecast period? What will be the market size in terms of value and volume?
• Which segment will drive the global Agricultural Tractors Market? Which regional market will show extensive growth in the future? What are the reasons?
• How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
• What are the key strategies adopted by players to sustain themselves in the global Agricultural Tractors Market?
• How will these strategies influence the market growth and competition?

The Agricultural Tractors Market report answers the following queries:

1. What is the largest share held by key players in the market?
2. What strategies have proven most advantageous in the Agricultural Tractors Market?
3. Which region promises largest opportunity for new investors during the forecast period 2032?
4. What factors will most likely present challenges to growth during the forecast period?
5. What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2032?

For More Insights

https://www.globenewswire.com/news-release/2022/05/09/2438166/0/en/Focus-of-High-Performance-Film-Manufacturers-on-Technological-Advancements-through-R-D-to-Serve-Vivid-End-Uses-Says-Fact-MR.html

Supriya Bhor
EMINENT RESEARCH & ADVISORY SERVICES
+16282511583 ext.
email us here

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