The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM".
Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Terminal Tractor Market by Type, Tonnage, Propulsion, Application (Airport, Marine, Oil & Gas, Warehouse & Logistics), Industry (Retail, Food & Beverages, Inland Waterways & Marine Service, Rail Logistics, RoRo), and Region - Global Forecast to 2026Ĭonstruction Equipment Market by Type (Excavator-Crawler & Mini Loader-Backhoe, Skid-steer, & Wheel Dozer, Dump Truck, Compactor, Crane), Electric Equipment, Propulsion, Power Output, Rental, Aftertreatment Device and Region - Global Forecast to 2027
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Get 10% Free Customization on this Report: New product development, partnership, and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2022, which helped them to innovate their offerings and broaden their customer base. John Deere (US), AGCO Corporation (US), CNH Industrial (UK), Kubota Corporation (Japan), and CLAAS (Germany) are the top players in the Farm Equipment Market. The Farm Equipment Market is consolidated. Regulations would mainly drive the Indian farm industry. The rolling out of government schemes and loan waivers for farmers and the promotion of farm mechanization would boost the Indian tractor market. India is the largest market for tractors in the world. Investments in various agricultural machinery have also increased crop production, particularly in developing countries such as India, China, Vietnam, and Indonesia. Increasing government efforts to promote farm mechanization, contract farming, and loan waivers would also to drive the market. Further, a shift from adopting labor-intensive farming techniques to advanced technological equipment in the agricultural sector across the Asia Oceania countries has led to increasing demand for tractors and various farming equipment such as harvesters and spraying and threshing equipment for the renting purpose. According to Agri Evolution Report 2020, the rental market for 31-70 HP tractors is higher in India, China, and other Asia-Oceania countries.Īsia Oceania is estimated to be the dominant regional marketįarmers in the Asia Oceania region are increasingly producing rice and crops such as palm and cotton.
For instance, demand for >50 HP tractors is more for rental purposes, as they are used for multiple implements. The demand for high-powered tractors is higher in European countries, whereas Asian countries demand low-powered tractor rental. The North American and European countries have a higher demand for tractor rental compared to developing regions. Companies collaborate with application companies to promote leasing businesses and encourage farmers to use farm equipment at affordable prices. Tractors hold the largest share among all the rented farm equipment.
The 31-70 HP farm tractor would hold the largest share in the rental market However, the benefits such as energy efficiency, high torque, low emission, and low maintenance of electric tractors would boost their demand in the long run. Challenges such as high battery cost, limitations in battery technology and limited possible applications of battery electric tractors would slow down the demand for these tractors for the next 3-4 years. Hybrid electric tractors can offer 35-40% savings on annual fuel expenditures. Alternatively, the pure battery electric tractors would run on battery power only. Hybrid electric farm tractors use a diesel engine and a regenerative energy storage system that helps increase fuel efficiency and offers the required propulsion in heavy-duty applications. To meet the stringency of Non-Road Mobile Machinery (NRMM) emission regulations, the OEMs are developing hybrid and electric farm tractors.
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