Global Agricultural Tractors Sale Witnessed Continuous Slump From Three Consecutive Years

By Goldstein Market Intelligence || 2019-01-04 8:58:12 AM

Global Agricultural Tractors Sale Witnessed Continuous Slump From Three Consecutive Years

According to Goldstein Research, “Weak global economic conditions are adversely affecting the agricultural (farming) industry as a result agricultural tractors market is facing decline sales across the globe". The poor performance of the general economy around the world has adversely affected the agricultural equipments market.  Rising farm input costs, lower commodity prices and changes in the availability of credit among retail customers adversely affect the growth of agricultural tractors market.

Agricultural (Farm) Tractor Market Summary

The global farm tractors market is segmented based on power output and by drive type. Power output is further bifurcated into power output range of tractors such as <30 hp, 31–100 hp, 101–200 hp and >200 hp. Global agricultural tractors market is mostly driven by the sales of smaller under 40 hp tractors, which remain area of growth compared to negative numbers of global sales. However, 31-100 hp agricultural tractors continued their stable trend in global market.

Global agricultural tractors market accounted for more than USD 60 Billion in 2016 and expected to expand at a CAGR of 1.8% over the forecast period. The market is witnessing decline in sales from three consecutive years, but the sales are expected to slightly recover in nearby future owing to rising population and subsequently rising demand for food. 

Geographically, Asia-Pacific region dominates the global agricultural tractors market with China and India sharing more than 70% revenue share in the APAC region. Meanwhile, Asia and Africa regions are anticipated to drive the market with the rise in commercial farming in these regions. North America sales showcased growth of 3% as compared to sales in 2015. Asia-Pacific region is closely followed by the North America. 

Government policies and initiatives estimated to improve agriculture industry in coming years 

Government initiatives to improve the agriculture industry are expected to improve the agricultural equipments market. Regional government is providing monetary and non-monetary initiatives to improve the structure of agriculture industry. Moreover, many private players are also entering the agriculture industry and spending huge amounts for the initiative programs to aid farmers. Governments are expending huge amounts on agriculture for development programs as agriculture can be source of growth for the national economy, provides investment opportunity and the prime driver for the agriculture related industries.

Farm tractors Market  contains detailed overview of the global agricultural tractors market in terms of market segmentation by power output type and by drive types.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.

Global Agricultural Tractors Market Report also includes competitive outlook of some of the major players which includes profiling of companies such as AGCO Corp., Deere and Company, CNH Industrial, Daedong Industrial, Escorts Group, Kubota, Mahindra & Mahindra, McCormick International, SAME DEUTZ-FAHR Group etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global agricultural tractors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Send Us Sample Request

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.