Global Tractors Market Share Analysis, Industry Trends & Growth Forecasts to 2029: Below 40 HP Tractors Segment's Growth Expected to be Bolstered over the Next Five years [Yahoo! Finance]
AGCO Corporation (AGCO)
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Source: Yahoo! Finance
Dublin, July 02, 2024 (GLOBE NEWSWIRE) -- The "Tractors - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering. The Tractors Market size is estimated at USD 83.56 billion in 2024, and is expected to reach USD 110.76 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029). Over the long term, the key factors contributing to the increase in worldwide tractor sales are increasing farm mechanization rates, especially in developing nations, rising farm labor costs, seasonal labor shortages, and shorter tractor replacement cycles. However, some of the prominent players in the industry are focusing on mergers and acquisitions and new product development in the market. For instance, In October 2022, At Kubota Connect, the manufacturer gave dealers a sneak peek at the new products. Series M7 Generation 4 The Kubota M7s are the company's largest tractors, aimed at livestock
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