According to the report “Wheeled Tractor Machinery market“, published by Market Data Forecast, the global market is projected to reach USD 50.03 Billion by 2021, at a CAGR of 6.8% from 2016 to 2021.
Tractor is a farm automobile used in varied tasks in agriculture and even outside agriculture. A wheeled tractor specializes in pulling any of numerous types of implements, whereas rotary tillers specialize in soil tillage with their dedicated digging tools.
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One of the key factors contributing to the market growth is the increasing global population. The Global Agricultural Machinery market has also been witnessing the arrival of new technology. Apart from this necessity to enhance productivity to increase yield and rise in demand for food are the key drivers for the market.
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Major wheeled tractor manufacturing companies are Mahindra & Mahindra, Deere and Company, AGCO tractor, CNH Global NV, Massey Ferguson, Farmtrac Tractor, Escorts, Foton Loval, Goldani, Kukje, Lindner, L S Mtron, Machinery and Industrial group NV, Shibaura, Tractorul UTB and VST Tillers.
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