Steadily Growing Mechanical Compact Tractors Market will Land US$ 4.2 Billion by 2030

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compact-tractors-market

The global compact tractors market is anticipated to grow at a sluggish CAGR of 3.3%, with an absolute $ opportunity of more than US$ 4.2 billion.

ROCKVILLE, MARYLAND, UNITED STATES, January 12, 2022 /EINPresswire.com / -- The global compact tractors market is anticipated to grow at a sluggish CAGR of 3.3%, with an absolute $ opportunity of more than US$ 4.2 billion during the forecast period (2020 - 2030). Mechanization of the global agricultural sector is projected to burgeon the high uptake of compact tractors.

Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections for Sales & Demand of Compact Tractors , its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies.

The latest market research report analyzes Compact Tractors Market demand by Different segments. Providing business leaders with insights On Compact Tractors And how they can increase their market share.

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We leverage space-age industrial and digitalization tools to provide avant-garde actionable Compact Tractors Market insights to our clients.

SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player, both at global and regional levels.

Key Segments of the Compact Tractors Market

Fact.MR's study on the compact tractors market offers information divided into two key segments - power, transmission and application across six regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Power

Less than 20 HP
21HP-30HP
31HP-40HP
41HP-50HP
Less than 60HP

Transmission

Hydrostatic
Mechanical

Application

Mowing
Agriculture
Snow Clearing
Landscaping
Others

Region

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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This report gives you access to decisive data such as:

Demand of Compact Tractors Market & Growth drivers
Factors limiting Compact Tractors market growth
Current key trends of Compact Tractors Market
Market Size of Compact Tractors and Compact Tractors Sales projections for the coming years

The report also offers key trends of Compact Tractors market and an in-depth analysis of how the projected growth factors will shape the Compact Tractors market dynamics in the coming years of the forecast period.

Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Compact Tractors Market that are developing the current market scenario and which will be lucrative for the future demand of Compact Tractors Market.

Key Takeaways of the Compact Tractors Market Study:

The global compact tractors market is expected to grow at a CAGR of 3.1% in terms of volume and is anticipated to expand by 1.4X from 2020 through 2030.
Compact tractors with engine power between 31HP- 40HP will hold maximum share in terms of value and are projected to create an absolute dollar opportunity of US$ 1.6 billion during the forecast period.
Compact tractors with hydrostatic transmissions are expected to grow at a CAGR of 3.0% in terms of value, and are slated to experience a share erosion of 188 BPS by the end of the forecast period.
By application, agriculture is expected to account for a major chunk of share in terms of value, and is projected to create an absolute $ opportunity of more than US$ 1.2 billion during the forecast period.
South Asia & Oceania are poised to be potential market disruptors and are slated to hold maximum share in terms of value. The region is expected to gain 247 BPS on its market share in terms of value by the end of forecast period.

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Compact Tractors Market Analysis by Region

South Asia & Oceania accounted for around 33% share of the global compact tractors market during the historical period. Agriculture has been one of the major occupations in the region due to which demand for compact tractors has always been high. In addition, farm mechanization has generated substantial opportunities for compact tractors manufacturers.

The need for high agricultural productivity and increasing labor costs is boosting the adoption of compact tractors for small framers in the region. However, compact agricultural tractors are seeing a visible shift in market dynamics due to the COVID-19 crisis. There were notable drops in sales for tractors along with slowdown in production on back of precautionary measures adopted by the manufacturers. This has hindered the demand for compact tractors in South Asia and Oceania.

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Compact Tractors Market Analysis by Application

The agriculture segment is expected to grow 3.4% during the forecast period. Agriculture is one of the major applications of compact tractors, holding more than 30% of the market share during the forecast period.

Small-scale framers are increasingly adopting compact tractors as they are lightweight and allow crops to be handled carefully, reducing damage. Moreover, compact tractors are equipped with small farm implements such as front-end loaders and back-hoes, enabling farmers to complete various tasks on fields.

The outbreak of the coronavirus pandemic has compelled most of the governments to enforce lockdowns leading to stalled production and operations of manufacturing plants and a subsequent dip in inventory. Further, the shortage of raw materials hinders the absorption of compact tractors in agriculture.

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