According to the latest market research study by Technavio, the agriculture tractors market in Europe is expected to grow at a CAGR of close to 1% during the forecast period of 2017 to 2021.
This market report by Technavio provides an in-depth analysis of the agriculture tractors market in Europe in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
Row-crop tractors market in Europe: The row-crop tractors provide the required hydraulic capacity and horsepower to handle large planters and implements. Thus, with the increase in transport applications such as silage or manure hauling, the demand for row-crop tractors is increasing because they provide fast acceleration and low total fluid economy.
“High powered row-crop tractors over 150hp are high in demand as they offer the power of the larger-framed four wheeled tractors but in a narrow-fixed frame configuration designed for navigating between the rows. It is, thus, expected that the demand for new technologies and upgrading of existing tractor technologies will drive the demand for row-crop tractors over the next couple of years,” says Manu Gupta, a lead analyst at Technavio for research on agricultural equipment.
Compact utility and sub-utility tractors market in Europe: These tractors can add implements, so they can be used for a variety of applications such as cultivation, landscaping, and mowing. The evolution of technology has played a greater role in the development of compact utility tractors. Rising landscaping services along with commercial areas such as the size of the properties, estate owners, will increase the demand for compact tractors.
Track tractors market in Europe: There is a high demand for lawn tractors over conventional tires because they offer a smoother ride, smaller field footprints, and increased flotation. The four track tractors are gaining more traction than two track tractors because the four track tractors allow for better distribution of weight, allowing for more floatation and traction. They also create less beaming during turns; thereby, contributing to higher yields.
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The top vendors operating in the agriculture tractors market in Europe are:
- AGCO
- ARGO TRACTORS
- CLAAS
- CNH Industrial
- Deere & Company
- SDF
The other prominent vendors in the market include Antonio Carraro, Cornish Tractors, Daedong Industrial, Escorts Group, Kubota, Pronar, Siromer, and Lindner.
A more detailed analysis is available in the Technavio market research report titled, ‘Agriculture Tractors Market in Europe 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Tractor Rental Market 2016-2020
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