Luton, Bedfordshire, United Kingdom, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Tractor Engines Market.
The global tractor engine market size is estimated at USD 12.7 billion in 2020 and is projected to reach USD 23.9 billion by 2029, at a CAGR of 7.3% for the forecasted years 2022 to 2029.
Tractor engines are a form of power-generating source for different automobiles that services the burning of petroleum or normal gas to create heat and control, which is at that point used to move the vehicles in which they are set. This structure comprises a chamber where an oxidizer interacts with the combustion process.
Rising demand for the item from different end-use verticals such as development, mining, agriculture, and control era, expanding need for foundation accessibility for EV vehicles in different creating districts of the world, rising request for gasoline-powered vehicles, and expanding generation of shale gas are all driving market development.
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Regional Opportunities- In 2021, the Asia Pacific region is expected to account for the largest share of the Tractor Engines market. Growth in agricultural activities such as farming and cultivation, among others, characterizes the Asia Pacific market, which stimulates demand for agricultural equipment and, in turn, augments the market for tractor engines. Furthermore, India and China are two of the world’s largest tractor markets, with government initiatives geared at increasing agricultural machinery used in the coming years.
Market Developments
- Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
- CNH Industrial NV (CNH) is a capital goods company. It designs, produces, markets, sells and finances commercial vehicles, buses and specialty vehicles and axles for these vehicles; and engines for marine and power generation applications.
Tractor Engines Market Scope and Segmentation
| Report Feature | Details |
| Base Year: | 2021 |
| Projection Period: | 2022-2029 |
| Market Details: | Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region |
| Segment Covered: | By Type, by Product, by Application, By End User |
| Regional and Country Scope | North America: includes the US, Canada, Mexico Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe South America: includes Brazil, Argentina and Rest of South America Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA |
| Largest market share | Asia Pacific - 58%. |
| Market Players Covered | Caterpillar Inc., CNH Industrial NV, Cummins Inc., Deere and Co., Escorts Ltd., Kohler Co., Mahindra and Mahindra Ltd., Sonalika International Tractors Ltd., Volkswagen AG, and Yanmar Holdings Co. Ltd |
| Tractor Engine market Growth | On the basis of engine power, the market is further bifurcated into high power and low power. The high-power segment is anticipated to grow at a higher CAGR owing to greater demand for medium-duty tractors in the Asia Pacific region, which holds the largest share of the agricultural tractor market. The demand for high-performance tractors is particularly high in Europe and North America and are likely to show significant growth in these regions over the forecast period. |
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Tractor Engines Market Play an important role in the growth of the automotive industry.
As a result, improvement within the market for tractor vehicle motors is likely to be fuelled by an increment within the selection of agrarian equip. Meanwhile, engines will proceed to play an imperative part within the development of the car industry. They moreover have the potential to progress in zones like thermal proficiency, emanations, and jolt. The inside combustion motor permits producers to create minor shape calculate machines or apparatuses, such as street cars, grass cutters, chainsaws, and other mechanical applications, as well as marine applications such as motorboats and ships, and control era motors with tall control yield.
- Points cover in Tractor Engines Market Research Report:
Chapter 1: Overview of Tractor Engines Market (2022-2029)
Definition
Specifications
Classification
Applications
Regions
Chapter 2: Market Competition by Players/Suppliers 2022 and 2029
Manufacturing Cost Structure
Raw Material and Suppliers
Manufacturing Process
Industry Chain Structure
Chapter 3: Sales (Volume) and Revenue (Value) by Region (2022-2029)
Sales
Revenue and market share
Chapter 4, 5 and 6: Global Tractor Engines Market by Type, Application & Players/Suppliers Profiles (2022-2029)
Market Share by Type & Application
Growth Rate by Type & Application
Drivers and Opportunities
Company Basic Information
Chapter 7, 8, and 9: Sourcing & Marketing Strategy Analysis
Key Raw Materials Analysis
Upstream Raw Materials Sourcing
Marketing Channel
Chapter 10 and 11: Tractor Engines Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2022-2029)
Technology Progress/Risk
Sales Volume, Revenue Forecast (by Type, Application & Region)
Chapter 12, 13, 14 and 15: Tractor Engines Market Research Findings and Conclusion, appendix and data source
Methodology/Research Approach
Data Source (Secondary Sources & Primary Sources)
Market Size Estimation
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