Global Farm Tractors Market to be Driven by Rising Demand for Agricultural Produce

Press Release   •   May 24, 2016 05:47 EDT

A new research report by Transparency Market Research provides an in-depth analysis of the global farm tractors market. The report presents detailed insights into the market, including its drivers and restraints, opportunities and challenges, product segmentation, and vendor analysis. The research report, titled “Farm Tractors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, is available for sale on the company website. A combination of primary and secondary research has been used to arrive at the market estimates, market share figures, and trends. In addition, charts, tables, and other infographics are used to present the historical data and forecast figures.

Farm tractors are considered as the most comprehensive equipment in the farming industry. They reduce the need for labor and help in producing a high output. The rising demand from farmers has encouraged constant evolution of farm tractors. As a result, agricultural practices have witnessed several technological developments leading to advanced farm tractors. The demand for agricultural produce is increasing due to the tremendously rising population across the globe. The increasing demand for food produce is the main factor boosting the demand for farm tractors in the global market throughout the forecast period. In addition, availability of credits, scarcity of labor, and increased government subsidies for mechanization in many regions are some of the factors driving the farm tractors market. However, innovations in designing tractors have resulted in high production cost, which is expected to hamper the growth of this market in the next few years.

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Geographically, the global market for farm tractors has been segmented into Asia Pacific, North America, Europe, and Rest of the World. Among all these regions, Asia Pacific accounts for the largest share in the global farm tractors market owing to the increasing demand in developing nations including India and China. The Asia Pacific farm tractors market is followed by North America and Europe. On the basis of power, the global farm tractors market has been divided into high power farm tractors and low power farm tractors. High power farm tractors are in high demand in the U.S., owing to the large size of farms in this region. On the other hand, low power farm tractors have witnessed high demand from India and China.

Furthermore, the research report covers the vendor analysis of the global farm tractors market, including the company profile, inception details, product portfolio, financial overview, business strategies, mergers and acquisitions, and recent developments. Some of the prominent players operating in the market are Kioti Tractor Division Daedong-USA, Escorts Group, AGCO, and Deere & Company (John Deere).

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