Wheeled Tractor Machinery Market Growth, Trends, And Forecasts (2018–2023)

Posted November 13, 2018 by sandycool

Wheeled Tractor Machinery Market is expected to reach USD 57.37 billion from USD 41.29 billion while growing at a CAGR of 6.8% during the forecast period from 2018 to 2023

Wheeled Tractor Machinery Market Overview:

A tractor is an engineering vehicle used in farming and specially designed to deliver high torque at slow speeds. The usage of the tractor is very high in farming and even outside agricultural farms; largest segment of agricultural machinery market is of agricultural use of tractors. Most frequently the term tractor is used to define a farm machine that mechanizes agricultural tasks with the use of power and traction.

Wheeled Tractor Machinery Market Forecast Report (2018-2023):

Global Wheeled Tractor Machinery Market is expected to reach USD 57.37 billion from USD 41.29 billion while growing at a CAGR of 6.8% during the forecast period from 2018 to 2023

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Wheeled Tractor Machinery Market Drivers and Restraints:

Apart from just agricultural tasks wheeled tractors also provide a source of power to tow the agricultural implements. Tractors are traditionally employed by farmers due to improvement in efficiency and effortless farming. They are used for agricultural as well as non-agricultural activities, farmers usually use tractors for tilling the farmlands.

Increasing demand from emerging economies along with government support in this sector is fuelling the growth of the market. Apart from this, a necessity to increase yield and productivity, increasing population and rise in demand for food are the key drivers for the market. The wheeled tractors can’t be used in rough lands which hinder the growth of the market.

On the basis of design, the tractors are classified as two and four-wheeled machinery. According to function, they are classified as implement carrier, garden tractor, earth moving the tractor, row crop tractors, utility tractors, industrial tractors, rotatory tillers, and orchard tractors. Orchard, utility, and row crop tractors are most extensively used all around the world and account for the largest share of the market.

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Wheeled Tractor Machinery Market Segmentation:

Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. A moderation in sales growth in many large, developing countries -- particularly Brazil, China, and India -- after a lengthy period of rapid gains will counterbalance a strong recovery in the US, Western Europe, and Japan from the effects of the 2008-2009 global economic recession. North America and Europe have a major share in the high power tractor’s segment. The market is dominated by Asia-Pacific in terms of volume and the region also offers high potential with deeper market penetration possibilities.

Wheeled Tractor Machinery Market Key Players:

Major wheeled tractor manufacturing companies are

Mahindra & Mahindra,
Deere and Company,
AGCO tractor,
CNH Global NV,
Massey Ferguson,
Farmtrac Tractor,
Foton Loval,
LS Mtron,
Machinery and Industrial group NV,
Tractorul UTB
VST Tillers. 

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Reasons to Purchase Wheeled Tractor Machinery Market Report

Market analysis of the globally Wheeled Tractor Machinery Market, with region-specific assessments and competition analysis on a global and regional scale
Analyze various perspectives of the industry with the help of Porter’s five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months of analyst support, along with the Market Estimate sheet (in excel)

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Last Updated November 13, 2018