Tractors Market - Statistics & Insights

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Tractors overview

Anchoring the future of precision agriculture, the global tractor market size surpassed USD 110 billion in 2024 and is projected to expand at a steady CAGR through 2032. Regional dynamics of tractor market highlight distinct patterns: North America and Europe are witnessing rapid adoption of high horsepower tractors, autonomous tractors and electric tractors, driven by sustainability policies and labor shortages. Asia Pacific, led by India and China, dominates tractor sales volume due to rising farm mechanization, smallholder demand and affordable low horsepower tractors. Latin America, particularly Brazil, is expanding commercial farming with row crop tractors and precision agriculture equipment, while Africa is emerging as a key frontier market with low tractor penetration and strong government subsidies for farm machinery.

Published by MMR Statistics Research Team, Updated
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