- The key vendors in the Agriculture Tractor Market in the APAC 2015-2019 are Deere and Company, Escorts Group, ISEKI Co. Ltd., Mahindra & Mahindra Ltd. and Tractors and Farm Equipment Ltd. (Tafe)
London, 10 April 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Agriculture Tractor Market in the APAC 2015-2019. Technological advancements and innovations are one of the key trends emerging in this market. Farmers are aware of new technologies that are beneficial to them. Technologies such as GPS tractors, syndicates, and sprayers can accurately make tractors drive themselves through the fields. The Agriculture Tractor Market in the APAC is expected to grow at a CAGR of 5.11% during the forecast period of 2014-2019.
In terms of unit sales, India and China have established themselves as the largest markets for agriculture tractors and equipment. Farmers from these countries as well as from countries such as Japan, South Korea, Vietnam, Indonesia, Sri Lanka, and Pakistan have increased their demand for modernized tractors and technologically advanced farming equipment.
“Manufacturers of agricultural equipment focus on increasing cost-effective precision farming, and this is done by using intelligent production technologies to maximize yield while minimizing costs,” says Faisal Ghaus, Vice President of Technavio Research.
“Agricultural equipment also helps in VRT, enabling farmers to decide the amount of fertilizer to be applied so as to strike an ideal balance between yield and input costs.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Agriculture Tractor Market in the APAC 2015-2019; please send an e-mail to media@TechNavio.com
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