Increasing Need to Prevent Post-Harvest Food Losses Driving the Tractor Implements Market
The Tractor Implements Market is projected to reach USD 76.1 billion by 2023, from USD 57.3 billion in 2018, at a CAGR of 5.84% during the forecast period. The market is driven by factors such as high labor cost in the agriculture industry and the growing need to prevent the post-harvest food loss.
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Tilling is an agricultural phase implemented for land development process...
Growing Adoption Rate for Farm Mechanization Systems in Asia Pacific to Increase the Demand for Tractor Implements
The tractor implements market is driven by the need to reduce time, cost, and labor on agricultural lands to improve land productivity. Tractor is one of the major agriculture equipment used globally. Different types of implements are attached to tractors during various phases of farming, which efficiently reduces the production cost and time. With an increase in the harvested area for cultivating...
High Labor Costs Have Led to a Strong Demand for Tractor Implements
The growing
population is one of the major factors contributing to the increased demand for
food. This, in turn, has led to an increase in the area harvested for important
food crops such as rice, soybean, barley, and wheat, especially in the
developing regions. For instance, according to the FAO, the production of corn
is projected to increase by nearly 600% to reach 1.2 billion MT by 2027. A
majority...