Global Agricultural Compact Tractor Market 2018-2022 | Growing Use of Compact Tractors by Small-Scale Farmers Impacting Market Growth | Technavio

The global agricultural compact tractor market 2018-2022 is expected to post a CAGR of close to 4% during the forecast period, according to the latest market research report by Technavio.

A key factor driving the growth of the market is growing use of compact tractors by small-scale farmers. Compact tractors are smaller than the average tractor and thus cost less. Farmers can complete various tasks in the agriculture fields by using compact tractors along with small farm implements, front-end loaders, and small backhoes, without depending on farm laborers. This is one of the key reasons for the growing adoption of compact tractors especially by small and mid-size farmers, for whom getting enough financial capital is a major challenge.

This market research report on the global agricultural compact tractor market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the investment in the development of the agriculture sector as one of the key emerging trends in the global agricultural compact tractor market:

Global agricultural compact tractor market: Investments in the development of the agriculture sector

Agriculture industry constantly invests in various R&D activities to develop new technologies that not only benefit farmers but also make it possible to differentiate themselves from their competitors. These new technological innovations include drones, robots, self-driving tractors, and others.

The technological advancements in the agricultural tractor sector include the inclusion of IoT sensors, wireless communication, cloud apps, and steering wheel replacements. Some technologies can also measure the amount of pressure being exerted on each seed while sowing. Such technological advancements will drive the market, says a senior analyst at Technavio.

Global agricultural compact tractor market: Segmentation analysis

This market research report segments the global agricultural compact tractor market by engine capacity (20-40 HP agricultural compact tractor market and below 20 HP agricultural compact tractor market) and geographical regions (APAC, EMEA, and the Americas).

APAC led the market in 2017 with a market share of more than 57%, followed by the Americas and EMEA respectively. The dominance of APAC can be attributed to the growing focus on the development of the agriculture sector in developing countries like India, China, and others as well as the increase in agriculture mechanization.

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Technavios sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavios report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
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+1 844 364 1100
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www.technavio.com

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