Agricultural Tractor Market

To tow a trailer or agricultural implements, the agricultural tractor is designed to provide a high tractive effort at low speeds. Early in the 19th century, the first powered farm implements were portable engines—steam engines on wheels that could be used to drive mechanical farm machinery via a flexible belt. John Froelich invented and constructed the first gasoline-powered tractor in Clayton County, Iowa, in the late 19th century. Today, agricultural tractors are used worldwide for various agricultural tasks, including plowing, tilling, planting, and harvesting.

There are currently numerous types and sizes of agricultural tractors on the market. Larger farm tractors are designed for heavier-duty tasks such as plowing fields and transporting large loads, whereas smaller farm tractors are typically used for tasks such as mowing lawns and light landscaping. In addition, some agricultural tractors include specialized attachments, such as snowblowers or front-end loaders, which increase their versatility.

The market for agricultural tractors is projected to increase from XX billion US dollars in 2018 to XX billion US dollars by 2031, at a CAGR of XX% during the forecast period. A tractor is designed to pull or push agricultural machinery or implements on farms. It typically has four wheels and an engine with 40 to 400 horsepower. 

Due to factors such as rising demand for farm mechanization, government initiatives to promote farm mechanization, and the growing adoption of precision farming, the market for agricultural tractors is anticipated to expand during the forecast period. However, high initial investment costs and a lack of technical expertise inhibit market expansion.

John Deere, CNH Industrial, Kubota Corporation, Mahindra & Mahindra, and AGCO Corporation are some key players in the agricultural tractor market.