Published Date: 12-May-22
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According to a new report, published by KBV research, The Global Agricultural Tractors Market size is expected to reach $81.4 billion by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
The Less than 40 HP market dominated the Global Agricultural Tractors Market by Engine Power 2020, thereby, achieving a market value of $45.2 billion by 2027. This is because of the low cost, compact size, and better convenience afforded by less than 40HP tractors to do all fundamental farming operations. In addition, these machines are mostly used in the Asia Pacific region, where a majority of farmland is less than 10 hectares, and are chosen by the majority of farmers in the region.
The Asia Pacific market dominated the Global Agricultural Tractors Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $44.9 billion by 2027. The Europe market is estimated to witness a CAGR of 3.4% during (2021 - 2027). Additionally, The North America market would exhibit a CAGR of 3.3% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AGCO Corporation, CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, Escorts Ltd., International Tractors Ltd., Yanmar Co., Ltd., Kubota Corp., Mahindra & Mahindra Ltd., and Tractors and Farm Equipment Ltd.
By Driveline Type
By Engine Power
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