Latin America Wheeled Tractor Machinery Market is expected to reach USD 8.2 billion from USD 5.78 billion, while growing at a CAGR of 7.23% during the forecast period from 2022 - 2027.
Tractor is a farm automobile that provides the power and traction to automate agricultural jobs, especially tillage. Agricultural implements are towed behind a tractor, which provides source of power for the automation of implements. They are used for agriculture and Non-agriculture purposes, mainly employed by farmers.
One of the major drivers propelling the Latin America market growth is the increased investment in infrastructure projects. Rapid urbanization demands for high investment for developing infrastructure such as railroads, highways, and ports, which leads to the increased demand for wheeled tractors. High cost of equipment remains an issue even in developed countries especially in small farms.
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