Portland, OR -- (SBWIRE) -- 10/03/2017 -- The global agricultural industry witnesses production-specific concerns, owing to the increase in demand for food, population growth, water scarcity, inadequate arable land, and degradation of soil fertility. Therefore, there is a rise on the innovation in mechanization, which is projected to improve the efficiency of farmlands.
Farm Tractors Market would grow due to increase in need for operational efficiency & profitability, rise in labor cost, and growth in trend of mechanization. However, high cost of farm machinery hinders the growth of the market. Advancement in technology is anticipated to provide growth opportunities to the market.
The farm tractors market is segmented on the basis of drive type, system type, design type, power output, and geography. By drive type, the market is bifurcated into two-wheel drive and four-wheel drive. Based on system type, the market is classified into without loaders, front loaders, and backhoe loaders. By design type, it is divided into tractor without CAB and tractor with CAB. Based on power outputs, the market is studied across less than 30 hp, 31-100 hp, 101-200 hp, and more than 200 hp.
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Major key players operating in the global farm tractors market:
-Claas KGaA mbH
-CNH Industrial N.V.
-Mahindra & Mahindra Ltd.
-Deere & Company
-Yanmar Co., Ltd.
-Tractors and Farm Equipment Ltd.
-Zetor Tractors A.S.
-Alamo Group, Inc.
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Farm Tractors Market Key Segments:
By Drive Type
By System Type
By Design Type
-Tractor without CAB
-Tractor with CAB
By Power Output
Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.