Agricultural Tractor Market demand is expected to reach 4,965.5 thousand units by 2030
Agricultural Tractor Industry Overview The global agricultural tractors market size was valued at 3,098.2 thousand units in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030. The increase in demand for compact tractors on small farms and technical developments such as the integration of telematics with agricultural tractors are expected to drive growth. Furthermore, the quick adoption of mechanization is expected to be favorable for the market's expansion during the following eight years. Additionally, it is anticipated that the market will witness growth due to the migration of farm workers to cities, which would result in a labor shortage. Due to the brief production halt and supply chain disruption caused by the COVID-19 outbreak, product demand was impeded. Gather more insights about the market drivers, restrains and growth of the Agricultural Tractor Market However, in H1 2022, the demand for tractors bounced...