The Garden and Orchard Type Tractor Machinery Market are projected to grow at a CAGR of 4.5% during the forecast period (2020-2025). The growth of the adoption of garden and orchard type tractors in developing regions is one of the major reasons that are driving the growth of the market. Also, government subsidies for farm mechanization is another major factor helping in the growth of the market studied. Tractors are used in farms to assist the farmers in performing chores like load pulling and construction. Agricultural usage dominates the usage segment of tractors.
Key Market Trends
Adoption of Garden and Orchard Type Tractors In Developing Regions
Enhancement of productivity is one of the major reasons why tractors are widely employed by farmers. Moreover, demand from emerging economies like China, India, and Brazil, and the high level of government support in these regions are fueling the growth of the industry. As the farming sector is expanding, farmers across nations are aiming for higher yields and economies of scale. The needs of the increasing population, growing food demand, the necessity to increase crop yields and an increase in productivity are driving the market studied.
North America and Europe dominates the market
Orchard, utility and row crop tractors are most extensively used globally and account for the most significant share of the market. The United States is the largest producer and consumer of the garden type tractors in the world. Over the forecast period, garden tractors are projected to reflect the highest volume of CAGR close to 3.85%, reflecting widespread adoption. Europe and North America have a major share in terms of high-powered tractors.
The global garden and orchard type tractors machinery market is fairly consolidated, with a few companies holding the majority of the shares in the market. In the fast-growing market, companies are not only competing on the basis of product quality or product promotion but are also focused on making other strategic moves, to acquire greater market share and expand their acquired market size. Companies are investing heavily to develop new series, and are collaborating and acquiring other companies, which is expected to increase their market shares and strengthen the R&D activities. In February 2018, Bear Flag Robotics, a startup in the United States, to address the pain points in the orchards, labor by introducing autonomous tractors.
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