The global four-wheel drive tractor market size is expected to grow from $15.72 billion in 2021 to $16.76 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global four-wheel drive tractors market size is expected to grow to $19.41 billion in 2026 at a CAGR of 3.7%.
What is the Global Four-Wheel Drive Tractor Market?
The four-wheel-drive tractor market consists of sales of four-wheel-drive tractors by entities (organizations, sole traders, and partnerships) that manufacture four-wheel drive tractors for agricultural purposes. A four-wheel-drive tractor consists of a four-wheel drive axle that can distribute power to all its wheels simultaneously. It helps in providing less slippage, great traction with better performance.
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What drives the Global Four-Wheel Drive Tractor Market?
The increase in mechanization in the agriculture industry is contributing to the growth of the four-wheel-drive tractors market. Four-wheel drive tractors provide better traction, more pulling power, are fuel-efficient, have longer service intervals, and distribute power to all wheels depending on the requirement. According to a report by the PWC and Federation of Indian Chambers of Commerce & Industry (FICCI), the US and Europe’s farm mechanization level is 95%, Russia’s mechanization level is 85%, and Brazil has 75%. The rise in mechanization in the agriculture increases need for better traction, fuel-efficient tractors, which in turn, is propelling the demand for four-wheel drive tractors.
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Global Four-Wheel Drive Tractor Market Segments
The global four-wheel drive tractor market is segmented:
By Power Output: Less than 40 HP, 40 HP to 100 HP, 100 HP to 200 HP, Above 200 HP
By Propulsion System: Diesel, Hybrid Electric, Electric
By Operation: Manual, Autonomous
By End-Use: Farm, Construction and Mining, Others
By Geography: The regions covered in the four-wheel drive tractor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Four-Wheel Drive Tractor Global Market Report 2022provides market size and growth forecasts for the global four-wheel drive tractor market, global four-wheel drive tractor market share, four-wheel drive tractor market segments and geographies, four-wheel drive tractor market competitive landscape including leading competitors’ revenues, profiles and market shares. The four-wheel drive tractor market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Four-Wheel Drive Tractor Industry Playersinclude AGCO Corporation, Deere & Company, Escorts Limited, Komatsu Corp, Mahindra & Mahindra Ltd, SAME DEUTZ-FAHR Italia S.p.A, Kubota Corporation, Deutz-Fahr, Caterpillar, and Massey Ferguson Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
