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Showing posts with the label Farm Tractors
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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 countrie...

The Global Farm Tractors Market is Projected to Reach US$87.5 Billion by 2024

Increasing Mechanization of Agriculture to Drive the Global Farm Tractors Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Farm Tractors market. The global Farm Tractors market is projected to reach US$87.5 billion by 2024 , driven by the increasing focus shed on mechanization of agriculture to counter increasing labor costs as well as increase productivity in a bid to meet the food requirements of a growing global population. Demand for tractors primarily stems from the mechanization of agricultural practices. In other words, as the global economy continues with mechanization of agricultural sector, it is expected to be opportunities galore for agriculture machinery, such as tractors. Adoption of agricultural mechanization practices by developing regions, such as India and China, which are substantially unmechanized tha...