Reports and Data has recently added a new research report titled ‘Global Farm Tractor Market Forecast to 2028’ to its wide database that offers extensive information about the Farm Tractor Market with regards to market share, market size, revenue growth, global and regional reach, and product portfolio offered by the market. The report focuses on current and emerging trends in the agriculture industry such as sustainable farming, novel irrigation and air seeding technology, incorporation of GPS and satellite imagery to boost productivity of the farms, and rapid adoption of smart agriculture to offer crucial insights into technological developments and progress of the sector. Agriculture is one of the fastest growing industries worldwide attributed to growing population and surging demand for food and food products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to growing global demand.

The global vertical farming market size was significantly robust in 2021, and is expected to register a rapid revenue CAGR during the forecast period. Increasing global demand for food, growing adoption of sustainable production of fruits and vegetables, high productivity and increased crop yield throughout the year, and advancements in the agriculture sector are the key factors expected to drive market revenue growth over the forecast period. In addition, increasing demand for high-quality food and food products, rapid shift towards organic farming due to rising health awareness across the globe, and implementation of successful smart agriculture strategies are some other factors expected to contribute to market revenue growth to a certain extent over the forecast period.

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 Market Dynamics:

Agriculture sector is one of the most important revenue generating sector and contributes significantly to the overall economic growth of a country. Technological advancements in agricultural equipment and techniques have drastically boosted output and production capacity. Rapid integration of ICT, robotics, aerial imagery and GPS techniques, and the Internet of Things, among others have radically shaped agricultural sector in the recent past. Growing adoption of precision agriculture and drones have enabled farms and businesses to increase their profit margins and improve their operations to be more efficient, safer, and environmentally sustainable.

Technological advancement in agricultural sector has led to higher productivity of crops, limited use of water and fertilizers which in turn have minimized crop prices, lower release of chemicals and pesticides into water bodies, and safer conditions of growing and high quality crops. Growing demand and increasing consumption of food across the globe owing to rapidly growing population is a key factor contributing to the revenue growth of the market. The report discusses the industry scope and development in key regions of the world such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer crucial insights about lucrative growth opportunities with regards to production and consumption pattern, supply and demand, consumer demand, and regulatory framework.

Key companies in the market are focusing on R&D for development of novel and advanced agricultural devices, temperature and moisture sensors, and systems to supply to the growing demand. Moreover, they are offering training and assistance to farmers on how to deploy and utilize novel technologies along with their existing practices to boost farm and livestock productivity. The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.

Top companies operating in the market and profiled in the report include:

·         John Deere

·         CNH Industrial N.V.

·         AGCO Corporation

·         Kubota Corporation

·         Mahindra & Mahindra Ltd.

·         CLAAS KGaA mbH

·         Tractors and Farm Equipment Limited (TAFE)

·         Deutz-Fahr

·         Fendt

·         Landini

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Further, the report segments the Farm Tractor Market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.

Farm Tractor Market Segmentation:

Type Outlook:

·         Two-wheel Drive

·         Four-wheel Drive

 Application Outlook:

·         Agriculture

·         Construction

·         Mining

·         Others

Key Regional Markets Covered in the Report:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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