Demand for Compact Tractors Market to Create an Absolute $ Opportunity of US$ 4.2 billion Through 2030

Initially pegged at US$ 28.3 billion in 2020 and expected to add value worth US$ 10.8 billion during the forecast period, the compact tractors market is slated to show a bearish trend at a CAGR of 3.3% amid the COVID-19 pandemic. Fact.MR’s analytical research estimates that the market will witness acute dormancy due to the anticipated global economic slowdown and nationwide lockdowns to halt the spread of the virus.

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Landscaping companies are staring at a bleak future with shuttered facilities and stilted operations. This has generated significant shortfalls in demand and consumption of compact tractors market. A tighter supply chain has led to dwindling output. Based on these trends, the global compact tractors market is anticipated to expand at a snail’s pace in the short-term forecast period. Growth is anticipated to accelerate with the implementation of containment strategies.

Key Takeaways of the Compact Tractors Market Study:

• The global compact tractors market is expected to grow at a CAGR of 3.1% in terms of volume and is anticipated to expand by 1.4X from 2020 through 2030.
• Compact tractors with engine power between 31HP- 40HP will hold maximum share in terms of value and are projected to create an absolute dollar opportunity of US$ 1.6 billion during the forecast period.
• Compact tractors with hydrostatic transmissions are expected to grow at a CAGR of 3.0% in terms of value, and are slated to experience a share erosion of 188 BPS by the end of the forecast period.

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Key Segments of the Compact Tractors Market

Fact.MR’s study on the compact tractors market offers information divided into two key segments – power, transmission and application across six regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Power

• Less than 20 HP
• 21HP-30HP
• 31HP-40HP
• 41HP-50HP
• Less than 60HP

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Transmission

• Hydrostatic
• Mechanical

Rebound Strategies to be the First Line of Defence for Key Market Players

Not having the financial cushion to absorb an economic shock of this magnitude, stakeholders are scrambling to find a solution to circumvent monetary distress caused by the pandemic. The global compact tractors market is highly competitive in nature. Key players are focusing on research and development in order to develop new models to obviate slump caused by a slackening demand. Market players are also keeping a close eye on the supply chain.

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