The global Farm Tractors market is
projected to reach US$93.7 billion by 2025, driven by the growing world
population; the rising pressure on food production, productivity and yields;
and growing importance of mechanized agricultural technologies against the
backdrop of spiraling labor costs and labor shortages. Key benefits of
mechanization driving its importance in sustainable agriculture include
increases land productivity; relieves the burden of labor shortages; decreases
the environmental footprint of agriculture; increases crop quality & yield
in unit area; efficient use of expensive inputs i.e. seeds, fertilizers,
pesticides & water; lower food prices & higher farm profits; and makes
food security goals more attainable. Few of the factors driving uncertainty in
labor availability and putting food security goals at risk and accelerating
adoption of agricultural machinery as a coping strategy include reducing share
of population working in agriculture as countries develop; increased migration
of population to urban cities; industrialization and better employment
opportunities in the manufacturing sector; aging society and unwillingness of
the younger generation to participate in the agriculture sector; poor working
conditions discourage participation in the agricultural sector; and inability
of small farms and farm households to meet minimum wage requirements. Read More…
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