The Business Research Company’s Four-Wheel Drive Tractor Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, August 9, 2021 /EINPresswire.com/ — Key companies operating in the market are focusing on manufacturing smart four-wheel drive tractors, which have been gaining significant popularity in recent years. Smart tractors are used to reduce emissions and provide more sustainable data and work efficiently. For instance, in December 2020, Monarch Tractor, a US-based company that is engaged in manufacturing tractors launched electric, diver optional, smart tractors that can be integrated onto a single platform. This smart tractor helps farm managers understand and visualize real-time farming operations by gathering digitized data from the farming field.
Major players covered in the global four-wheel drive tractor industry analysis report are AGCO Corporation, Deere & Company, Escorts Limited, Komatsu Corp., Mahindra & Mahindra Ltd., SAME DEUTZ-FAHR Italia S.p.A., Kubota Corporation, Deutz-Fahr, Caterpillar, Massey Ferguson Limited, SDF Group, New Holland, and Case IH.
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The global four-wheel drive tractor market is expected to grow from $14.45 billion in 2020 to $15.61 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The four wheel drive tractor market size is expected to reach $19.25 billion in 2025 at a CAGR of 5.4%.
North America accounts for the largest 4wd tractor market share. 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.
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 and greater traction with better performance.
TBRC’s global four-wheel-drive tractor market report is segmented by power output into less than 40 HP, 40 HP to 100 HP, 100 HP to 200 HP, above 200 HP; by propulsion system into diesel, hybrid electric, electric; by operation into manual, autonomous; by end-use into farm, construction and mining, others.
Four-Wheel Drive Tractor Global Market Report 2021 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides four-wheel drive tractor market overview, forecast four-wheel drive tractor market size and growth for the whole market, four-wheel drive tractor market segments, and geographies, four-wheel drive tractor market trends, four-wheel drive tractor market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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