Global Wheeled Tractor Machinery Market was valued at USD 41.30 billion in 2020 and is projected to reach USD 57.38 billion by 2025, progressing at a CAGR of 6.9% from 2020 to 2025.

Tractors provide the power and traction needed to automate agricultural work, especially tillage. Farm implements are towed behind a tractor, which then provides a source of energy for mechanization of implements. Improved efficiency is one of the reasons tractors are widely used by farmers. Furthermore, the demand from emerging economies and the high level of government support in these regions are driving growth in the industry.

Recent developments:

In August 2017, Case IH introduced the world's first articulated tractor with CVT (Continuously Variable Transmission).

In March 2017, Mahindra & Mahindra announced that this company is expanding its international agricultural machinery and tractors business, in order to obtain 50% of the revenues from the foreign market during the next two years.

Market Drivers and Restrains:

In addition to the unique agricultural tasks, wheel tractors also provide a source of power for towing agricultural implements. Increasing demand from emerging economies coupled with government support in this sector is driving the global wheeled tractor machinery market growth. Apart from this, the need to increase yields and productivity, burgeoning population and rising demand for food are the main drivers of the market. Wheel tractors cannot be used on rough terrain that hinders market growth.

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Market Segmentation:

Based on design, tractors are classified into two- and four-wheel machines. Based on their function, they are classified into tool carriers, garden tractors, earthmoving tractors, row crop tractors, utility tractors, industrial tractors, rotary cultivators and orchard tractors.  Utility tractors, row crop tractors and orchard tractors are the most widely used tractors in the world and have the largest market share. Utility tractors are increasingly being chosen for their ease of use and reliability on sports field projects such as golf, soccer and rugby courses.

Geographical Segmentation:

The global wheeled tractor machinery market is segmented into North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa. The North American wheeled tractor machinery market is increasing due to augmented fruit and vegetable cultivation in the United States, a lack of agricultural labor, and the launch of new machinery is supposed to fuel the market.

The European wheeled tractor machinery market is likely to grow at a significant rate due to increased agriculture in the UK, Germany, Spain and Russia, rising demand for food consumption and adoption of new technologies to stimulate growth market. The market in the Asia-Pacific region has a significant share attributed to an increased focus on agricultural agriculture in China, India and Japan, and the government provides subsidies for the purchase of tractors in India and collaborations between companies for business expansion drive the market. The market for wheeled tractor machinery in Latin America is on the rise due to the surge in machinery used in Argentina and Brazil, the higher demand for food products and the increase in agricultural fuels in the market. The market in the Middle East and Africa is growing due to government sponsored agricultural projects such as the Galana-Kulalu irrigation system in the coastal area and large-scale projects by individual farmers have augmented the call for agricultural equipment.

Key market players:

Major players in the global wheeled tractor machinery market include Mahindra & Mahindra Ltd., Deutz-Fahr, AGCO Tractor, Case IH, Case IH, McCormick Tractors, Kubota Tractor Corp., Farmtrac Tractor Europe, Deere and Company, Claas Tractor, and CNH Global NV.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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