Global Wheeled Tractor Machinery Market - By Type, Application and Geography - Market Shares, Forecasts and Trends (2017 - 2022)
The Global Wheeled Tractor Machinery Market has been estimated at USD XX.X billion in 2015 and is expected to reach USD xx.x billion by 2020, at a CAGR of 7.3% during forecast period from 2015 to 2020. Tractor is a farm automobile that provides the power and traction to automate agricultural jobs, especially tillage. However, the tractor is used in varied tasks even outside agriculture. Agricultural usage of tractor is the largest segment in the agricultural machinery sector.
Agricultural implements are towed behind a tractor, which provides source of power for the automation of implements. Tractors are used for agricultural as well as non-agricultural purposes. They are majorly employed by farmers especially for tilling the land.
Improvement in efficiency is one of the reasons why tractors are popularly employed by farmers. Besides, demand from emerging economies and high level of government support in these regions is fueling growth of the industry. The market is driven by increasing population, growing demand for food, necessity to increase yields and increase in productivity. Future of tractor machinery market appears positive.
The market is segmented by type into utility tractors, row crop tractors, orchard tractors, industrial tractor, garden tractor, rotary tillers, implement carrier and earth moving tractor. Row crop, utility and orchard are the most widely used tractors in the world and accounted for largest share of the markets respectively.
The market has also been segmented into North America, Europe, Asia-Pacific, South America and Africa. Asia-Pacific dominates the market in terms of volume. Europe and North America have major share in terms of high-powered tractors. Asia-pacific offers high potential with deeper market penetration possibilities.
Opportunities lie in higher market penetration in the developing regions of Asia and South America. Low purchasing power in developing regions appears to be a hindrance to the otherwise lucrative market. Major companies operating in the segment are Deere and Company, CNH Global NV, Mahindra & Mahindra Ltd., AGCO tractor, Farmtrac Tractor Europe, Massey Ferguson, Escorts etc.
Key Deliverables in the Study
Market analysis of the Global Wheeled Tractor Machinery Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Wheeled Tractor Machinery market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped