Global Agricultural Tractor market to grow at a CAGR of 6.57% and 3.20% in terms of value and unit shipments, respectively, during the period 2014-2019
Deerfield Beach, FL -- (SBWIRE) -- 08/21/2015 -- Global Agricultural Tractor market to grow at a CAGR of 6.57% and 3.20% in terms of value and unit shipments, respectively, during the period 2014-2019. Tractors are powerful vehicles designed to provide power and traction to enable them to perform various agricultural tasks such as ploughing, tilling, hauling, and planting. They help mechanize agricultural tasks, and are extensively used in farming and agriculture. They can be attached with variety of implements and help improve agricultural productivity. Modern tractors are much more advanced and are more powerful, versatile, reliable, and durable.
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Rise in global population has led to an increase in the demand for food and related products over the past few years. Therefore, various governments are focused on increasing food productivity to meet the needs of the growing population, which has propelled the demand for agricultural machinery equipped with modern technologies.
"Farmers are turning their attention to low-powered machinery, which requires less investment and therefore vendors are also capitalizing on this opportunity,".
"Need for better productivity and increased labor costs are forcing farmers to shift to the usage of low powered machinery like tractors."
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Covered in this Report
Global Agricultural Tractor Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, North America, South America, and Africa; it also covers the Global Agricultural Tractor 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 Market Drivers:
Rise in Global Population
Demand from Emerging Countries
Increased Government Support
Replacement of Tractors
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Key Market Trends:
Advances in Technology
Increased Demand for Low-powered Machinery
Alternative Fuel Tractors
Key Market Vendors:
CNH Industrial Capital LLC
Deere & Company
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.