Overcoming a severe downturn in terms of sales and market value, farm tractors are all set to make a comeback with a bang. From mid-2017, farm tractors have shown a positive outlook towards the growth and are thoroughly encouraged by growing demand for agricultural products. Trend of mechanized farming coupled with government invigoration across developing agricultural economies across the globe is playing significant role in rejuvenating the global farm tractors market. Affordable financial schemes and government aids are helping farmers with limited buying capacity to procure a farm tractor for increased productivity. Significant rise in tractor sales was observed in past two years especially in price-driven economies such as China and India with a claim of almost 45% of the global tractor sales. Besides, developed regions of North America and European countries also have a fair claim on the global farm tractors market and provides equal opportunity for the manufacturer to grow. Wide variety of power, drive type, and price range farm tractors market projected to witness considerable growth in coming years. Growth in sales for farm tractor giants Deere and Co. and Mahindra and Mahindra testifies the much-awaited progress in the overall farm tractors market.
Based on the present market position and growing demand for food grains expected to touch 4.5 Bn tonnes in 2025, analysts recommend that its high time for the companies to invest in refining their products to meet the growing demands. New technologies including power and fuel efficient drives, flexibility in operation and overall versatility expected to help companies to maintain their supremacy over time. Targeting developing geographic regions including Asia Pacific, Latin America and Africa can be beneficial for companies who are expecting a growth in their revenue. In addition, strengthening of supply chain and enhancing after-sales service experience projected to aid these companies to stay competitive and make a mark in terms of sales and revenue in coming years.