Global Agricultural Tractor Market to grow at a CAGR of 3.08% during the period 2017-2021

The report analyzes and presents an overview of “Global Agricultural Tractor Market 2017-2021” worldwide.

About Agricultural Tractor

Tractors are one of the most important tools used in farming, as they can be used for multipurpose applications like plowing of the lands, harrowing, disking, tilling, planting, and other similar tasks. Even other farm equipment is pulled or pushed with the help of tractors or integrated with the tractors, to make the farm related work more efficient. The global agricultural tractor market is segmented based on driveline (two-wheel drive and all-wheel drive); engine power (low-power output (<40 hp), mid-power output (40-100 hp), and high-power output (>100 hp)); and geography (APAC, EMEA, and the Americas).

Technavios analysts forecast the global agricultural tractor market to grow at a CAGR of 3.08% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global agricultural tractor market for 2017-2021. To calculate the market size, the report considers the sales volume of the agricultural tractor.

The market is divided into the following segments based on geography:

Technavio’s report, Global Agricultural Tractor Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Escorts Group
John Deere
Mahindra Tractors
Massey Ferguson


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Other prominent vendors 

New Holland
McCormick Tractor
Sonalika Tractors
Tractors and Farm Equipment (TAFE)

Market driver
Increase in the wages of laborers has led to declining profit margins for farmers
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Market challenge
High price of agricultural all-wheel drive tractors: Restricting their demand in APAC
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Market trend
Increase in consolidation of fragmented land in Europe and Americas
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