The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rising demand for small tractors is likely to spur innovation in agricultural tractor production, propelling the market during the forecast period.

The global agricultural tractors market is expected to grow from $70.97 billion in 2022 to $74.71 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The global agricultural tractors market size is expected to grow to $90.15 billion in 2027 at a CAGR of 4.8%.

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Global Agricultural Tractors Market Segments Include:

• By Type: Orchard Tractors, Row-Crop Tractors, Other Tractors
• By Propulsion: ICE, Electric and Hybrid
• By Operation Type: Manual, Autonomous
• By Engine Power Type: Less than 40 HP, 41 to 100 HP, More than 100 HP
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global agricultural tractors market in 2021.

Major Market Players in the agricultural tractors market include AGCO Corporation, CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, Escorts Ltd., Yanmar Co. Ltd., Kubota Corporation, Mahindra & Mahindra Ltd.

Technological developments are a major trend that is gaining traction in the agricultural tractor market. To strengthen their market position, major agricultural tractor manufacturers are introducing revolutionary technologies. For example, Monarch Tractors, a US-based producer of electric, automated, and smart tractors, will unveil the 634 Monarch Tractor in December 2020, a new electric and smart tractor with better data collection and autonomous operation. This tractor is a hydraulically equipped, fully functional compact tractor that can use any compact tractor implement. In ‘driver optional’ mode, the technology consists of a number of safety sensors and cameras that work with and without the driver. This improves the machine’s safety in a variety of situations.

The Agricultural Tractors Global Market Report 2023  provides a agricultural tractors market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The agricultural tractors market forecast analyzes agricultural tractors market size, agricultural tractors market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Agricultural tractors are vehicles designed specifically to transport machinery or trailers at moderate speeds and with a high tractive effort. These tractors are capable of pulling a wide range of farm implements for ploughing, planting, cultivating, fertilising and harvesting crops, as well as moving supplies and providing personal transportation.

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