North America Tractor Implements Market Size, Share & Industry Trends Analysis Report By Product (Cultivator & Tiller, Harrows, Plough, Planters, Spreaders & Baler, and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Tractor Implements Market would witness market growth of 5.1% CAGR during the forecast period (2022-2028).
Due to the growing acceptance of new technologies among farmers, which is fueling industry development, a number of firms have lately concentrated on releasing tractor implements combined with new technologies such as Google Earth, GPS, and robots. For instance, in March 2022, the SAVERNE, France-based KUHN SAS company introduced a stubble cultivator for contractors and farmers that has a 15 kph working speed and improves crop cultivation. Additionally, a number of countries throughout the globe are making investments in agricultural infrastructure that will advance the sector.
Demand for better agricultural irrigation systems is being driven by the increasing availability of specialized technology for harvesting, planting, and growing in agricultural regions. Additionally, increased pesticide use on fields is boosting income for crop protection and irrigation. The development phase of arable land, which is regarded as the most significant phase of cultivation, uses tillage. Thus, farmers' primary choice for tillage tools remains to be tractor-based equipment.
The U.S. Department of Agricultural (USDA) estimates that in 2020, USD 1.055 trillion, or 5% of the country's GDP, was provided by agriculture, food, and related businesses. Nearly 0.6% of the entire GDP, or 134.7 billion USD, came from agricultural production. Since agricultural-related sectors depend on farm products to contribute to the economy, the agriculture industry as a whole contributes more than 0.6% of the total GDP. In order to increase production, more farmers are using digitally linked tractors, according to the sector. As a result, the market for tractor implements is in high demand in North America.
The US market dominated the North America Tractor Implements Market by Country in 2021; thereby, achieving a market value of $7,789.3 Million by 2028. The Canada market is experiencing a CAGR of 7.5% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 6.5% during (2022 - 2028).
Based on Product, the market is segmented into Cultivator & Tiller, Harrows, Plough, Planters, Spreaders & Baler, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Tractor Implements Market is Estimated to reach $39.1 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CNH Industrial N.V., Deere & Company, KUBOTA Corporation, Mahindra & Mahindra Limited (Mahindra Group), J C Bamford Excavators Ltd., AGCO Corporation, Claas KGaA mbH, SDF S.p.A., KUHN SAS (Bucher Industries AG) and Tractors and Farm Equipment Limited.
Scope of the Study
Market Segments Covered in the Report:
- Cultivator & Tiller
- Spreaders & Baler
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- CNH Industrial N.V.
- Deere & Company
- KUBOTA Corporation
- Mahindra & Mahindra Limited (Mahindra Group)
- J C Bamford Excavators Ltd.
- AGCO Corporation
- Claas KGaA mbH
- SDF S.p.A.
- KUHN SAS (Bucher Industries AG)
- Tractors and Farm Equipment Limited
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