Technavio, a tech-focused market research company, has published a new research study on the global walking tractor market, which is predictable to grow at a CAGR of more than 8% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers catalog the global walking tractor market into the following key regions: APAC, Europe, North America, and ROW.
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Top three contributors for the global walking tractor market are elaborated below
Walking tractor market in North America: The increasing popularity of the walking tractor as a gardening tool will lead to the growth of the market in North America. The large production of food grains and decreasing arable land in North America will heighten the demand for efficient agriculture equipment in the region. The vendors are focusing on launching innovative products to meet the requirements of several end-users.
According to Abhay Sinha, a lead analyst at Technavio, “The vendors are offering a large variety of gardening tools such as riding mowers, chipper-shredders, and garden tillers to meet the rising demand for these products. The manufacturers are also offering walking tractors that supports different attachments required for proper soil tilling, weeding, plowing, and other gardening operations. These developments will boost the walking tractor sales in the North American market.”
Walking tractor market in Europe: The growth of small farms will help in the growth of the walking tractor market in Europe. These farms are emerging as local specialist products provider and offer important social, cultural, and environment services. The manufacturers are investing in research and development of innovations that support the implementation of new technology in agricultural machinery. These efforts toward the development of new products will propel the evolution of the European market.
Walking tractor market in APAC: The introduction of various subsidies to promote agricultural mechanization by different government organizations will make APAC the fastest growing region in the global market. The regulatory bodies are promoting sustainable development by increasing support and planned policies associated with farm mechanization. Countries like Japan, China, and India are promoting walking tractor to the farmers that will help yield better produce with less manual intervention. Such initiatives towards sustainable development will boost revenues in the region during the forecast period.
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The top vendors operating in the global walking tractor market are:
- BCS America
- Deere & Company
- Grillo
Other prominent vendors in the market include CLAAS Jinyee Agricultural Machinery (Shandong), Kranti Agro, Mahindra and Mahindra, Kubota Agricultural Machinery, Shandong Changlin Machinery Group, and V.S.T Tillers Tractors.
A comprehensive breakdown is available in the Technavio report titled, ‘Global Walking Tractor Market 2017-2021’. Technavio also customizes reports by added regions and specific sectors upon request.
Other related reports:
- Global Tractor Rental Market 2016-2020
- Global Combine Harvester Market 2016-2020
- Global Solar Farm Automation Market 2016-2020
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