Product ID: SQMIG25C2106
Report ID:
SQMIG25C2106 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
95 |
Figures:
76
Global Tractor Market size was valued at USD 73.72 billion in 2022 and is poised to grow from USD 77.79 billion in 2023 to USD 119.56 billion by 2031, growing at a CAGR of 5.52% in the forecast period (2024-2031).
In recent years, the global tractor market has been changing consumer preferences and demands due to the combination of technological advancements, increasing mechanization in agriculture, and a growing demand for efficient farm equipment. In modernizing agricultural practices, enhancing productivity, and meeting the demands of a growing global population, tractors play a pivotal role
Additionally, the integration of smart technologies such as GPS, precision farming, and automation, contributes to optimized farm operations are the major trends.
Asia-Pacific and Latin America are emerging markets experiencing a surge in tractor demand due to ongoing agricultural expansion and modernization efforts. Additionally, sustainability and environmental considerations are influencing the development of eco-friendly and energy-efficient tractor models.
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Product ID: SQMIG25C2106