Brazil Wheeled Tractor Machinery Market (2017 - 2022)
Brazilâ€™s wheeled tractor machinery market is expected to grow at a CAGR of 5.5% from 2016 to 2021 and is expected to reach USD X.X billion.Tractors provide the power and traction to automate agricultural jobs, especially tillage. However, the tractor is used in varied tasks even outside agriculture. Agricultural implements are towed behind a tractor, which then provides a source of power for the mechanization of implements. The agricultural usage of tractors is the largest segment in the agricultural machinery sector. Improvement in efficiency is one of the reasons why tractors are popularly employed by farmers. Besides, demand from emerging economies and the high level of government support in these regions is fueling the growth of the industry.
The market is driven by the increasing population, growing demand for food, the necessity to increase yields, and an increase in productivity. The future of the tractor machinery market appears positive. However, the low purchasing power appears to be a hindrance to the otherwise lucrative market.
The market is segmented by type of machinery into:
Row Crop Tractors
Orchard Type Tractors
Earth Moving Tractors
Some of the key players in Brazilâ€™s wheeled tractor machinery market are:
CNH Global NV
Deere and Company
Farmtrac Tractor Europe
Kubota Tractor Corp
Mahindra & Mahindra Ltd.
Massey Ferguson Tractor