Today, if there’s food on your plate, you have to thank not just the farmers, but also the tractor technology. The tractors have farming easy and rather an interesting task. The olden days when farming was all about hard work and patience are long gone. Now everything is mechanized and automated using the various two-wheeled and four-wheeled tractors. It is not just a comfort for farmers but also to the farm animals, who’s hard work has been replaced by the tractors.
Tractor technology received a welcoming response by farmers all over the world in the 1950s. Due to increase in technology, the price of the tractor starting decreasing and the list of benefits for farmers kept on increasing. Soon, farmers opted tractors over farm animals. In the battle between Horse Power and Horsepower, the latter always wins. Farmers today have understood the unlimited benefits of the tractor and are using it at an exceeding rate.
Modern tractors offer wide range of tools and modules that help in all agricultural processes from sowing the seeds to harvesting the crop. Farmers rely greatly on the speed and power of the tractor machinery which helps in increasing the performance. With added benefits like ease of operation and transmission and low maintenance costs, modern farmers are not holding back on using the features.
According to the analysts at Market Data Forecast, the Wheeled Tractor Machinery Market is expected to reach USD 57.37 billion from USD 41.29 billion while growing at a CAGR of 6.8% during the forecast period from 2018 to 2023. At the rate at which the demand for organic food and healthy grains around the world is growing, the necessity to increase the productivity and yield of the crop, the market is destined to grow. Lack of knowledge about the tractor technology in developing countries and not being able to use tractors in rough, drylands are some of the hindrances to this market. Major market players like John Deere, Mahindra & Mahindra, AGCO tractor, CNH Global NV, Massey Ferguson, FarmtracTractor, Escorts, Foton Loval, Goldani, Kukje, Lindner, LS Mtron have identified this opportunity and are ready to take their share. They have invested millions in the R&D and Marketing strategies to reach and cater to the needs of modern farmers.
The tractor market can be divided based on the type – two wheeled and four wheeled, where four wheeled are more commonly used ones. According to function, they are classified as implement carrier, garden tractor, earth moving tractor, row crop tractors, utility tractors, industrial tractors, rotatory tillers and orchard tractors. Orchard, utility and row crop tractors are most extensively used all around the world and accounts for the largest share of the market.
Huge developing countries like China, India and Brazil have shown rapid increase in demand for mechanized tools for agriculture in competition to US, Europe and Japan. North America and Europe have a major share in the high-power tractors segment. The market is dominated by Asia-Pacific in terms of volume and the region also offers high potential with deeper market penetration possibilities. Want to know more about the Wheeled Tractor Market, get the detailed Market Research Report by Market Data Forecast now. Grab the Free Report Sample here. To get the latest updates on the Agriculture Market, follow our blog and subscribe to our Newsletter.