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How Rapidly is the Agricultural Tractors Market Expected to Expand Between 2025 and 2034 Based on Current Trends?

In recent years, the market size of agricultural tractors has experienced robust growth. It is projected to swell from $78.16 billion in 2024 to $82.29 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.3%. This growth during the historic era is the result of several factors such as the introduction of mechanization in agriculture, expansion of farm sizes, rising productivity requirements, the transition from conventional farming approaches, and the influence of government’s agricultural policies.

The market for agricultural tractors is anticipated to witness robust growth in the upcoming years, with an estimated value of $103.12 billion by 2029, having a compound annual growth rate (CAGR) of 5.8%. The projected growth within the forecasted period is due to factors such as the advent of precision agriculture practices, expansion of the global populace, emphasis on environmental sustainability, the development of agriculture in emerging markets, and the fusion of farming technologies. Future trends within the prediction timeframe will involve the utilization of artificial intelligence (AI) in crop management, a shift towards electric and hybrid tractors, enhanced comfort and ergonomics for operators, the employment of predictive maintenance solutions, and the launch of intelligent farming applications.

How Are the key drivers expanding the growth of the agricultural tractors Market?

The agricultural tractors market is set to grow, pushed forward by the increasing need for compact tractors. These miniature, farm-specific tractors, ideal for those owning small amounts of land or hobby farmers, contribute to a variety of farming tasks. Such compact tractors are essentially agricultural tractors, fitted with a 540-rpm PTO and a three-point hitch that is only compatible with Category 1 equipment. Indicating their rising popularity, the U.S. Association of Equipment Manufacturers reported that as of June 2024, 4-Wheel-Drive tractor sales in the U.S. had gone up by 9.4% compared to May of the previous year, a significant increase of 24% from April. In terms of year-to-date sales, there was a rise of 3.2%. However, a decrease in overall U.S. agriculture tractor sales of 11.5% and 17.7% in combines was noted. Despite this, the agricultural tractors market continues to expand, steered by the mounting call for compact tractors.

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Which Key Players Are Shaping the Future of the Agricultural Tractors Market?

Major companies operating in the agricultural tractors market include:

• Tractors and Farm Equipment Ltd._x000D_

• ARGO Tractors S.p.A._x000D_

• Deere & Company_x000D_

• CNH Industrial N.V._x000D_

• Kubota Corporation_x000D_

How Are the Latest Trends Influencing the Growth of the Agricultural Tractors Market?

Leading businesses in the agricultural tractors market are establishing partnerships to create new products and fortify their market presence. Collaborations and partnerships in this market accelerate the development and commercialization of advanced therapies, encourage innovation, and exploit mutual areas of expertise by amalgamating resources and abilities. For example, in August 2023, Mahindra & Mahindra Ltd, an Indian automobile manufacturer, formed a partnership with SARGA MotoCorp Ltd, an automotive manufacturing firm based in Tanzania. This partnership will provide Tanzanian farmers with a vast range of tractors and farm equipment, supreme productivity, income, and post-sale support. This strategic alliance aligns with initiatives aiming to boost youth participation in Tanzania’s agricultural industry for ongoing growth. It also signifies Mahindra’s pledge to transforming farming and enhancing farmers’ lives globally. Along with this, the partnership includes the establishment of a showroom in Dar es Salaam and over 25 authorized service stations to deliver an unrivaled customer experience.

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Which Segments Play a Crucial Role in the Expansion of the Agricultural Tractors Market?

The agricultural tractors market covered in this report is segmented –

1) By Type: Orchard Tractors, Row-Crop Tractors, Other Tractors

2) By Propulsion: ICE, Electric and Hybrid

3) By Operation Type: Manual, Autonomous

4) By Engine Power Type: Less than 40 HP, 41 to 100 HP, More than 100 HP

Subsegments:

1) By Orchard Tractors: Compact Orchard Tractors, Specialty Orchard Tractors

2) By Row-Crop Tractors: Standard Row-Crop Tractors, High-Horsepower Row-Crop Tractors

3) By Other Tractors: Utility Tractors, Sub-Compact Tractors, Garden Tractors

What Regions Are At the Forefront of Agricultural Tractors Market Expansion?

Asia-Pacific was the largest region in the agricultural tractors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global agricultural tractors market report during the forecast period. The regions covered in the agricultural tractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Can We Define the Agricultural Tractors Market and Its Key Components?

Agricultural tractors refer to a vehicle created especially for moving machines or trailers at low speeds and with a high tractive effort. These tractors can be used to pull a variety of farm implements for ploughing, planting, cultivating, fertilizing, and harvesting crops, as well as hauling materials and personal transportation.

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