The North America wheeled tractor machinery market, estimated at USD XX billion in 2016 is expected to reach USD XX billion by 2021, at a CAGR of 5.8% over the forecast period. Tractors provide the power and traction to automate agricultural jobs, especially tillage. Agricultural implements are towed behind a tractor, which then provides a source of power for the mechanization of implements. The agricultural usage of tractors is the largest segment in the sector. Improvement in efficiency is one of one of the reasons why tractors are popularly employed by farmers.
Market Dynamics
Driving forces of the market include the increasing population, growing demand for agricultural products, fueling the need to amplify yield and raise productivity. Opportunities lie in technological developments and higher market penetration in the developing nations like Mexico where machinery use in agriculture is growing. Low purchasing power in these regions appears to be a hindrance to the otherwise lucrative market.
Market Segmentation
The market has been segmented based on the wheel tractor type and by geography.
Segmentation by wheel tractor type:
- Utility tractors
- Row crop tractors
- Orchard type tractor
- Industrial tractor
- Garden tractor
- Rotary tillers
- Implement carrier
- Earth moving tractor
On the basis of geography, the market has been segmented into the US, Mexico, Canada and others.
Key Industry Players
Major companies operating in the segment are:
- Deere and Company
- CNH North America NV
- AGCO Tractor
- Massey Ferguson
Key Deliverables in the Study
- Market analysis of the North America wheeled tractor machinery market, with region specific assessments and competition analysis on national and regional scales.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a national and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market shares.
- Identification and analysis of the macro and micro factors that affect the North America wheeled tractor machinery market on both national and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights into the major countries in which this industry is growing and identifying the regions still untapped.
