Today: October 1, 2016, 6:57 am

Global farm tractors market: $44 billion industry by 2018
Farm Tractors: A Global Strategic Business Report - a new market research report on 2014-03-14 07:56:04
The global Farm Tractors market is projected to reach US$44.2 billion by 2018, driven by the increasing demand for agricultural produce due to rapid mechanization of agricultural practices, and the advent of sophisticated and technologically advanced Tractors.

Tractors represent the largest segment of the global agricultural equipment market. Considered as the workhorse of agriculture, tractors are the most versatile farming equipment. Design and technology of farm tractors has evolved over the years, as manufacturers continue to develop tractors which fulfill various requirements of farmers. As the global economy continues with mechanization of agricultural sector, it is expected to be opportunities galore for agriculture machinery such as tractors. Other demand drivers that continue to find favor in the tractors market include credit availability, scarcity of labor, and subsidies offered by government towards farm mechanization. Apart from these factors, season and weather conditions also dictate demand patterns in the farm tractors market.

Innovative technologies that enhance productivity, operational comfort and cost efficiency are major factors that influence demand for tractors in the highly industrialized countries. The vehicle-to-vehicle (V2V) control system and the continuously variable transmission (CVT) PTO (power take-off) are expected to witness greater adoption by farmers in the developed regions as they ensure the much needed fuel efficiency and comfort along with enhancing the productivity. Apart from these factors, strong demand exist in developed regions for tractors embedded with advanced features including automated steering, front axle and cab suspension, universal touch-screen displays, multifunction joysticks, HID lighting, air-ride seats and provision for MP3 players. Although penetration of latest technologies is expected to continue in developed markets, where farming is highly mechanized, most of the developing markets are expected to take several years to adopt these innovations, chiefly due to the availability of cheap labor and prevalence of traditional farming methods.

Asia-Pacific represents the leading market for farm tractors, primarily due to the towering presence of two major markets of China and India, which together lead the global tractor market in terms of volume sales. Substantial potential exists in these countries due to the relatively lower levels of mechanization and presence of inefficient farm equipment. A major portion of tractor demand in the Asia-Pacific region is for low power tractors, as most of the farm sizes are average.

Click for report details: ..

Browse all Agriculture, Farming & Raw Materials Market Research Reports ..

Browse all Agriculture, Farming & Raw Materials Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 584 Words
Related Articles
More From Finance
P2P lending platform Monexo partners with IDBI-Trusteeship [..]
For Immediate Release: 2nd September 2016 MUKESH BUBNA, CEO Monexo Fintech Pvt Limited P2P [..]
Day Trade to Win New September Class [..]
Sold Out? New Class Added – On September 6, 2016, is launching a brand new eight-week trading boot camp [..]
FTM (Forget The Market) Reopens 3 Shares [..]
Port Vila, Vanuatu, 28th July 2016 - Investment firm FTM today announced the reopening of three separate share options, projected [..]
Ex-Citibanker Launching Online P2P marketplace in India [..]
A study conducted by World Bank shows that MSMEs in India face an estimated credit gap of INR 20.9 trillion [..]
New Frontier Portfolios Top Morningstar Rankings
New Frontier’s global strategic portfolios topped the Global Balanced Strategic/All-Inclusive category of the latest Morningstar ETF [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.