- Two-wheeled tractors
- Four-wheeled tractors
Wheeled Tractor Machinery Market size was valued at USD 58.32 billion in 2022 and is poised to grow at a CAGR of 5.9% from 2023-2029. Wheeled tractors are the vehicles used in agriculture farming, to deliver high torque at low speeds. These tractors are commonly used in agriculture farming and outside farming for other purposes such as gardening. Tractors provide traction and power to agriculture works especially for tillage. Agriculture usage of tractors is the largest segment in the sector. These are commonly used to improve the efficiency of work by reducing time. Different types of wheeled tractor machinery are used for different purposes such as seeding, cutting, harvesting, planting, and tillage among others. In March 2017, Mahindra & Mahindra announced that the company expanding international play for its farm machinery and tractor business, to earn 50% of revenue from overseas markets in the next two years.
Fastest Growing Market
Rise in demand from emerging countries for tractor machinery, increase in government support such as subsidies on purchase of tractor machinery, grow in agriculture farming, and rise in consumption of food due to increase in population are anticipated to fuel the global wheeled tractor machinery market. Moreover, technological advancements in tractor machinery, wide range of applications in agriculture sector, and increase in work efficiency with less time propel the growth of the market over the forecast period. However, high cost of machinery and some of wheeled tractors cannot be used on rough lands are expected to restrain the growth of the market.
The Wheeled Tractor Machinery Market size was valued at USD 58.32 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Deere & Company (U.S.) Mahindra & Mahindra Ltd. (India) CNH Industrial (U.S.) Caterpillar (U.S.) Escorts Group (India) Deutz-Fahr Deutschland GmbH (Germany) CLASS KGaA mbH (Germany)