Asia Pacific Wheeled Tractor Machinery Market is expected to reach USD 19.35 billion by 2027 from USD 13.21 billion in 2021 while growing at a CAGR of 7.94% during the forecast period from 2022 to 2027. A tractor is an engineering vehicle used in farming to deliver high torque at slow speeds. A tractor is used to define a farm machine that mechanizes agricultural tasks with the use of power and traction. Tractor contributes to the largest segment in agricultural machinery in the Asia-Pacific market.
In Asia Pacific region, with an increasing population and rise in demand for non-processed foods cultivated through organic farming are the key drivers of the market. Due to the limited purpose of tractors and its inefficiency in rough lands, farmers are resorting to other advanced machines that makes their work simpler. Due to this, sales in this region is constrained and thus, the market growth is hindered.
The market is dominated by Asia-Pacific in terms of volume and the region also offers high potential with deeper market penetration possibilities. Demand for tractors in the Asia/Pacific region was more than twice that of any other region in 2016, with China alone comprising major percent of the global total. Healthy population increases and economic growth in China and other developing Asian nations like India and Thailand will drive an expansion in construction activity in these countries and place heightened pressure on their agricultural sectors to become more efficient and productive, boosting associated tractor sales.
Mahindra & Mahindra
Deere and Company
CNH Global NV
L S Mtron
Machinery and Industrial group NV
Tractorul UTB and VST Tillers
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