The global Two-Wheel Tractors market has been witnessing a remarkable growth in the recent years. The steady market growth is attributed to strong purchasing power of users globally.
Two-wheel tractors are mostly used as a cultivating equipment to plow garden, small field or backyard. It has range of optional add-on attachments including snow blades, cultivators, sweepers, scythe blades, and so on which can be used in specific situations. It has one power unit. The driver of two-wheel tractor can sit on the trolley which is attached to the tractor or can simply operate on it while walking behind the tractor.
Increasing demand for multiutility agriculture equipment, rapid advancement in technology and rise in plantation activity to reduce the impact of global warming are major factors driving the growth of the global two-wheel tractors market. Moreover, two-wheel tractors are highly reliable, easy to use, and totally safe for the operator/driver. These features of two-wheel tractors attract a large number of end user and hence fuel the growth of the global two-wheel tractors market. However, high cost of two-wheel tractor is a major hindrance for global two-wheel tractors market to grow. Moreover, agriculture is an essential sector and hence government of various countries launch various scheme such as Indian government launched Farm Mechanization Scheme under which government provides a subsidy of $595 (Rs. 45000) or 25% of cost for tractor up to 40 PTO HP and a subsidy of $793.95 (Rs. 60000) or 25% of cost for tractors more than 40 PTO HP, European government launched Common Agricultural Policy under which the European Union spent €57 billion on agricultural development from which €39 billion was spent on direct subsidies, American government signed The Farm Security and Rural Investment Act under which $16.5 billion was spent on agriculture subsidy, etc. to provide agriculture equipment at subsidized rates to farmers and to increase agricultural productivity in their region. This is expected to bring lucrative opportunities for global two-wheel tractors market to grow during the forecast period.
The global two-wheel tractor market is studied among North America, Latin America, South Asia, Europe, East Asia, Middle East and Africa. Among which, North America is expected to hold the largest market share in the global two-wheel tractor market during the forecast period. This is attributed to the presence of numerous two-wheel tractor manufacturing companies in the US. On the other hand, Europe is expected to hold second largest market share in the global two-wheel market during the forecast period owing to increase in investment in two-wheel tractor industry. East Asian countries including China and Japan are expected to be the fastest growing market of two-wheel tractor due to increase in farming activities. South Asian countries including south Korea and India is likely to grow at a robust rate owing to increasing agricultural sector in this region.
Market players included in research study of the global two-wheel tractors market are Ferrari, Changzhou DFAM, ARBOS, Egedal Maskinenfabrik, Koppl, LUSNA Machinery, Mahindra, OAO Minsker, Traktorenwerk, BCS, John Deere, New Holland, Kubota, Kioti, AGCO-Challenger, Zetor, Same Deutz-Fahr, Claas, Grillo, Earth Tools, AgriArgo, VST Tillers, Case IH and Aebi Schmidt Holding.
V.S.T Two-Wheel Tractors Ltd. develop and manufacture agriculture equipment, products and attachment. It was founded in 1967 in association with Mitsubishi Agricultural Machinery Company of Japan. Its headquarters is in Bangalore. It functions through a network of more than 300 vendors and approx. 230 dealers in India.
Agria-Werke GmBH, a manufacturer of agricultural equipment across the global was founded in 1947. Its headquarters is in Bittelbronnee, Germany. Agria-Werke GmBH specializes in the manufacture of two-wheel tractors, bar mowers and motor hoes.
Labin Progres -TPS Ltd. is a manufacturer of agricultural equipment and attachments. The company was founded in 1974 and based in Labin, Croatia. It functions with 100 employees to manufacture agricultural machinery.