Dublin, April 23, 2020 (GLOBE NEWSWIRE) -- The "Farm Tractors - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.
The Farm Tractors market worldwide is projected to grow by US$32.8 Billion, driven by a compounded growth of 6.4%.
< 30 HP, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.8%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$60.7 Billion by the year 2025, < 30 HP will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 4.8% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$852.6 Million to the region's size and clout in the next 5 to 6 years. Over US$2.8 Billion worth of projected demand in the region will come from the rest of the European markets.
In Japan, < 30 HP will reach a market size of US$1.7 Billion by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 8.2% over the next couple of years and add approximately US$12.4 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East.
All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include:
- AGCO Corporation
- Antonio Carraro
- Argo Tractors S.p.A.
- Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.
- CLAAS KGaA mbH
- CNH Industrial N.V.
- Steyr Landmaschinentechnik AG
- Daedong-USA, Inc. KIOTI Tractor Division
- Deere & Company (John Deere)
- Escorts Group
- Force Motors Ltd.
- Indo Farm Equipment Limited.
- Iseki & Co. Ltd
- Kubota Corporation
- Mahindra and Mahindra Ltd.
- Pronar Sp. z o.o.
- SDF S.p.A.
- Sonalika International Tractors Ltd.
- Tractors and Farm Equipment Ltd. (TAFE)
- Traktorenwerk Lindner GmbH
- Yanmar Agricultural Machinery Manufacturing Co. Ltd.
- Zetor Tractors A.S (Czechia).
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Farm Tractors: A Prelude
- Different Types of Farm Tractors
- Tractors - The Workhorses of Agriculture
- Growth Drivers in a Nutshell
- Key Challenges
- Farm Tractors Market Back on Track
- Global Farm Tractors Market Estimates and Projections in Units by Region/Country: 2018 to 2025
- Global Farm Tractors Market by Region/Country: A Historic Review in Units for 2009-2017
- Global Farm Tractors Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025
- Population Growth & Demand for Food to Create Long-Term Stability in Growth
- Emerging Economies Drive Market Expansion
- Competition: Fierce Competition Keeps Farm Tractor Makers on Toes
- Farm Tractors Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Mechanization of Farming Practices Drives Sales of Tractors
- Percentage of Population Engaged in Agriculture for Select Countries
- Robust Demand for Advanced Tractors in Developed Markets
- Strong Adoption across Industrializing Nations
- Agricultural Labor Shortage & Rising Labor Wages to Spur Demand for Tractors
- Shrinking Labor for Agriculture Benefits Demand for Tractors: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
- Food Security Drives Governments to Stress on Improving Productivity
- Growing Agricultural Trade Worldwide to Create Major Opportunities for Farm Tractor Vendors
- Global Prices of Cereals in US$ per Ton for the Years 2019 and 2025
- Farm Consolidation to Lead to Demand for Larger Tractors
- Autonomous Farm Tractor to Become an Essential Constituent of Precision Agriculture
- Growing Investments in Smart Agriculture Bodes Well for the Adoption of Autonomous Tractors: Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2019 & 2024
- Technological Innovations to Drive Productivity in Agriculture
- Renting Farm Equipment and Tractors Picking Up Pace
- Expanding Global Population & Increase in Agricultural Output to Drive Demand for Tractors
- World Population by Geographic Region (2018-2050) (in Thousands)
- Focus on Precision Farming Lends Traction to Tractor Sales
- Technological Innovations in Farming Equipment Lead the Way
- Technologically Advanced Tractors Gain Prominence in Developed Markets
- Comfort Features: An Important Value Addition Gaining Traction
- Alternative Fuel Tractors: An Important Product Development in the Coming Years
- Small Tractors Gain Ground in Developing Regions
- Certified Used Machines are Catching Up Globally
- Rising Demand for Energy Crops: A Business Case for Farm Tractors
- World Biodiesel Production & Consumption in Million Liters for the Years 2019 through 2025
- World Ethanol Production & Consumption in Million Liters for the Years 2019 through 2025
- Biodiesel Production and Consumption in Thousand Barrels per Day by Select Countries
- Average Biofuel Yields of First Generation Feedstocks
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/9dfr9s
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.