Report ID: SQMIG20H2019
Industrial Tractor Market Size, Share, Growth Analysis, By Type(Utility Tractors, Row Crop Tractors, Garden Tractors, and Industrial Loaders), By Application(Agriculture, Construction, Mining and Forestry), By Power Output(40 HP, 40-99 HP, 100-199 HP and More than 200 HP), By Driver Type(2-Wheel Drive, 4-Wheel Drive), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20H2019 |
Region:
Global |
Published Date: February, 2024
Pages:
232
|
Tables:
117 |
Figures:
77
Industrial Tractor Market Regional Insights
Asia-Pacific dominated the global market. The need for industrial tractors is being driven by the region's strong rise in infrastructure development activities, including construction and mining. In addition, the industry is expanding as more nations, including China and India, adopt precision agriculture methods. Major manufacturers like Mahindra & Mahindra (India) and Kubota Corporation (Japan) are present in the region, which is assisting to fuel the development of the industrial tractor market in the Asia-Pacific region.
Over the forecast period, Europe is anticipated to experience volume growth at a moderate CAGR. The increase in demand for large farm tractors, particularly from Italy, Greece, and Lithuania, is blamed for the expansion. Additionally, over the course of the forecast period, the high demand for autonomous tractors is anticipated to propel regional market expansion. However, a prolonged wait time for new tractor purchases as a result of production delays is anticipated to restrain market growth over the forecast period.
Industrial Tractor Market Report Snapshots
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